Single, male, first home buyer

Household income $66,000, $12,000 deposit, first home buyer

Callum wants to move out of home and find a place of his own. Find out how he can afford it.

Callum is 26 years old and is ready to move out of his parents’ house. He earns approximately $2,200 a fortnight as a tradesperson and has saved up $12,000 for a home loan deposit.

By doing some research on the HomeSeeker SA website, Callum can see that there are a number of expenses involved in buying a home that he hadn’t counted on, such as stamp duty and conveyancing fees. But he learns that if he buys a house and land package he will pay less stamp duty.

Callum finds a new two-bedroom house in the northern suburbs priced at $280,000. Because he's never purchased property before and it's a newly built home, he's eligible for the $15,000 First Home Owner Grant.

He talks to HomeStart Finance and finds out that he can buy a house with a 3 per cent deposit under their Graduate Loan as he has a Certificate III for his trade. 

Callum works out his finances as follows.

Monthly household income after tax


Home purchase price


Stamp duty and other fees


Borrowed amount ($296,640) less deposit ($18,000) and First Home Owner Grant ($15,000)


Monthly repayments on HomeStart Finance Graduate Loan
(calculated over an estimated loan term of 17 years and 4 months)



This fictional case study is based on real life experiences of home buyers. Before buying a home, it is strongly recommended you seek professional advice on your personal financial circumstances and your ability to pay a mortgage.

As at December 2021