Start Funding your Down Payments in Advance To build up funds for your down-payment in advance, organize expenses, start cutting cost and clear debts. Know your Budget and Plan Accordingly Before you start looking for your dream home, you need to know what your budget limit is. You can make use of an online budget calculator for this. Research your Dream Home Are you looking to buy an apartment, an independent house, a condo? How many bedrooms? What amenities are you willing to pay for? Research nearby essential services such as school, departmental stores, hospitals etc. Improve your Credit Score A credit score above 750 is not only an eligibility criterion for a home loans, but it also gives you negotiating power for lower interest rates. Tax Benefits There are several different types of tax rebates for first time home buyers. Do not forget to take that benefit as well. Source: http://www.phillipislandfn.com.au/