Episode 4 | Unlocking Your Deposit: How Much Do First Home Buyers Really Need?
One of the biggest myths in home buying is that you need a 20% deposit. While it can help avoid some costs, it’s not a requirement, and focusing only on that number could be holding you back.In this episode, Jack Elliott and Chris Bates break down the real deposit options available for first home buyers, including how much you actually need, how to avoid unnecessary delays, and what smarter alternatives exist if a 20% deposit feels out of reach.You’ll explore practical ways to think about saving, understand options like the First Home Guarantee Scheme and family guarantor loans, and hear simple tips to build momentum, even if you’re just getting started.Whether you’re early in your savings journey or already close to your goal, this episode will help you move forward with more clarity and confidence.In this episode:🔑 Do you really need a 20% deposit?🔑 Deposit options from 2% to 20%, including the First Home Guarantee and family guarantor loans🔑 Why buffers matter and how to set up your savings🔑 Smart tips to build habits and practice future mortgage repaymentsTimestamps:00:00 – Do you really need a 20% deposit?02:45 – Why 20% is such a common myth05:08 – Your options with a 5%–10% deposit07:37 – When it makes sense to pay LMI (and when to avoid it)09:13 – What is the Family Home Guarantee Scheme?09:46 – Other low-deposit options and what to consider11:14 – How much do you really need to save?11:50 – Client story: Buying with 5% instead of saving 15%12:54 – Building a clear savings approach🎧 Listen now and take the guesswork out of your deposit strategy.Key Links from This EpisodeFirst Home Guarantee Scheme Family Home Guarantee Scheme Unlock your Free Resources Get your Unlocking Your Deposit ResourceWant to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored support 📱Follow Us on social media: Instagram, TikTok, Youtubefirsthomeunlocked.com.au
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Episode 3 | Unlocking the Real Cost of Buying Your First Home
When people think about the cost of buying their first home, they usually focus on the deposit.But the true cost includes a range of extra expenses, and if you're not prepared, they can catch you off guard.In this episode, Jack Elliott and Chris Bates share a full breakdown of the real costs involved in buying your first home, from government charges and lender fees to legal costs, building and pest inspections, moving expenses, and more.Whether you’re early in your planning or getting close to buying, this episode will help you build a clear, realistic budget so you’re prepared at every step.You’ll walk away knowing exactly what to expect, what to plan for, and how to move forward with confidence.In this episode:🔑 A full breakdown of government, legal, lender, and moving costs🔑 A real NSW case study: $900K purchase example🔑 Why a building and pest inspection is essential🔑 Why having a cash buffer is key for peace of mindTimestamps:00:00 – What are the real costs to consider?01:48 – Government fees explained03:23 – NSW case study: $900K purchase example04:08 – Stamp duty breakdown06:33 – Legal fees: What a conveyancer does and why it matters09:28 – Lender fees and LMI: what to watch for13:28 – Why you need a building & pest inspection15:56 – Planning for moving, setup, and furniture16:49 – Hidden costs and the value of a cash buffer🎧 Listen now and get clear on exactly what to budget for.At the time of filming, we were in the 2024/25 financial year. Since then, NSW mortgage registration and transfer fees have increased slightly from $171.70 to $175.70 each in the 2025/26 financial year.Unlock your Free Resources Get your Unlocking the Costs to Purchase Your First Home Resource Download your State by State Stamp Duty Guide for First Home BuyersWant to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored support 📱Follow Us on social media: Instagram, TikTok, Youtubefirsthomeunlocked.com.au
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Episode 2 | Key Timing: When to Talk to a Broker as a First Home Buyer
When’s the right time to speak to a mortgage broker? Most first home buyers think it’s once they’ve saved the full deposit or found the perfect property, but waiting can cost you time, money, and confidence.In this episode, Jack Elliott and Chris Bates explain why engaging a broker early (6–12 months out) can be a game-changer. You’ll learn how brokers help you plan strategically, ask the right questions, and align your situation with the right loan strategy, structure, and lender.If you have a goal to buy, now’s the time to start the conversation.In this episode:🔑 The biggest timing mistakes first home buyers make🔑 A real self-employed client story: balancing business tax and mortgage goals🔑 What brokers actually do (beyond comparing rates)🔑 Why loan strategy matters more than interest rates🔑 Your timeline: what to do 6–12 months and 3–4 months outTimestamps00:00 – When is the best time to speak with a broker?02:42 – Real story: self-employed client & tax return timing03:45 – The value of working with a broker early05:30 – Why use a broker? Policy-matching vs rate-hunting: what actually matters08:45 – Brokers as sounding boards for life decisions10:20 – What to expect 6–12 months out from buying using a broker 11:35 – What to expect 3– 4 months out from buying, the action step 13:00 – Pre-approval, lender selection, and getting ready to buy🎧 Listen now to build confidence and start your journey with the right strategy in place.Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored support 📱Follow Us on social media: Instagram, TikTok, Youtubefirsthomeunlocked.com.au
Buying your first home is a huge milestone, but it can also feel overwhelming, confusing, and full of pressure.
First Home Unlocked is here to change that, and to help you reach your first home with clarity and confidence.
Hosted by Jack Elliott, National First Home Buyer Specialist at Alcove, and Chris Bates, one of Australia’s top-ranked mortgage brokers, this podcast simplifies the home buying journey and empowers you with the keys to unlock your first home.
Each episode is practical, clear, and designed specifically for first home buyers. From understanding the buying process to choosing a property that fits your long-term vision, Jack and Chris will guide you through every step with real conversations and expert support.
You’re not in this alone. Hit subscribe and let’s unlock your first home together.
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