First home buyers stop juggling rent and a mortgage at the same time through the build

You have signed a contract on a house and land package. The builder says twelve to fourteen months to completion. You are still paying rent. The mortgage repayments are coming whether the house is finished or not. For a lot of first home buyers, that double-payment window is the thing that makes an otherwise viable purchase feel impossible.

This post explains what the current rules and available schemes actually do to reduce that pressure, and how HomePay by Elite Wealth Creators fits into that picture.

The double-payment problem, and why new builds create it

When you buy an established home, settlement is typically four to six weeks away. You move in, you stop paying rent, and your mortgage begins. Clean handover.

A new build works differently. You exchange contracts, pay a deposit, then wait for construction to finish before settlement (or in some cases, before drawdowns begin). During that period, most lenders start requiring repayments once the first progress payment is drawn. You are paying a builder's schedule and a landlord simultaneously.

The gap is real. Depending on the build timeline, that overlap can cost a buyer anywhere from $15,000 to $40,000 in combined rent and early loan costs before they ever get the keys.

HomePay: how EWC structures the construction period

Elite Wealth Creators offers a product called HomePay specifically to address this. Under HomePay, eligible buyers make zero monthly payments for the first 12 months during construction. Standard repayments then begin once that period ends.

This is not an interest-only product, and it is not a partial deferral. It is a structured arrangement covering the construction window so that rent and loan payments do not overlap for that first year.

For many buyers, 12 months covers the bulk of the build. The repayments that kick in after that point coincide roughly with the time they move in and stop paying rent. That alignment is the point.

Your broker (a separate licensed credit provider from EWC) would assess serviceability and the specific loan terms. HomePay is worth raising early in your finance conversation.

Federal schemes that reduce the deposit and upfront cost burden

The deposit is usually the first obstacle. Three federal mechanisms are worth understanding, in plain terms.

First Home Guarantee

The First Home Guarantee is an Australian Government initiative administered by Housing Australia that allows eligible first home buyers to purchase a property with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of the property's value, removing the need for LMI.

From 1 October 2025, the scheme was significantly expanded: income caps were removed entirely (the previous $125,000 single and $200,000 couple limits no longer apply), and the annual cap on places was abolished, making the scheme open to every eligible applicant.

Property price caps as at mid-2026 include: Sydney and NSW regional centres at $1,500,000; Brisbane and Queensland regional centres at $1,000,000; Melbourne and Geelong at $950,000; and Perth at $850,000, with other regions and territories varying by postcode tier. The cap that applies is the one at the time of the contract date, based on the property's location. Confirm the live cap at housingaustralia.gov.au for the specific postcode before signing.

First Home Super Saver Scheme (FHSS)

The First Home Super Saver Scheme is an Australian Government program administered by the ATO that helps eligible buyers save a deposit for their first home using their super, by making extra voluntary contributions that grow at lower tax rates.

Using the FHSS scheme, you can contribute up to a maximum of $15,000 in any one financial year and up to a maximum of $50,000 across all years. The ATO will withhold tax on your FHSS withdrawal amounts based on either your expected marginal tax rate minus a 30% tax offset, or a flat rate of 17% if your usual rate cannot be determined.

The scheme only counts eligible voluntary contributions, not your standard employer super guarantee payments. Timing matters: once you sign a property contract, you must notify the ATO within 90 days with contract details. Run this past a licensed financial adviser or SMSF specialist accountant before relying on it in your deposit plan.

State stamp duty concessions

Stamp duty concessions are state-based and vary considerably. As general information, at the time of writing:

• NSW offers a full stamp duty exemption for first home buyers purchasing new or existing properties valued up to $800,000, with a sliding-scale concession for properties between $800,000 and $1,000,000.
• Victoria offers a full stamp duty exemption for first home buyers purchasing properties valued up to $600,000, and a sliding concession for properties between $600,000 and $750,000.
• From 1 May 2025, Queensland introduced a full stamp duty exemption for new homes with no value cap, meaning first home buyers purchasing a newly built home or building a new home pay zero stamp duty regardless of the purchase price.
• South Australia's first home buyer stamp duty relief applies only to new homes; from 13 February 2025, first home buyers purchasing a new home receive full stamp duty relief with no value cap.
• Western Australia offers the First Home Owner Rate of Duty, which provides a full stamp duty exemption for properties valued at $600,000 or less.

All thresholds are subject to change. Check with the relevant state revenue office for your specific situation.

A worked example: Brisbane buyer, accumulation phase

Consider a couple buying a new house and land package in Brisbane for $820,000. This is illustrative only.

• Deposit via FHSS: Each partner has used salary sacrifice to contribute $15,000 per year for two years. That is up to $50,000 in combined eligible contributions across both applicants (each at the $50,000 cap). Subject to ATO assessment, that can form a meaningful portion of the 5% deposit required under the First Home Guarantee.
• Stamp duty: On a new build in Queensland, Queensland first home buyers receive a full exemption on new homes and vacant land with no price cap (from 1 May 2025). On an $820,000 new build, that is a significant saving.
• LMI saving: With the First Home Guarantee, no LMI is payable on a 5% deposit. That saving can easily run to $15,000 to $35,000 on a typical purchase.
• Construction period: HomePay means zero monthly loan payments during the first 12 months of the build, so both partners continue paying rent on their current place without also servicing the mortgage. Standard repayments begin after 12 months, which aligns with expected completion.

This example does not represent a projection of any outcome. Actual savings depend on individual tax rates, lender assessment, construction timelines, and eligibility at the time of application.

What to do next

If this scenario is broadly relevant to your situation, three concrete steps are worth taking in sequence:

1. Check your FHSS eligibility and contribution history with a licensed financial adviser or your super fund before assuming what is releasable. The ATO administers this scheme strictly, and mistakes in the withdrawal process are difficult to undo.
2. Confirm your First Home Guarantee eligibility and your state's current stamp duty concessions through a broker who works with Housing Australia participating lenders. The property price cap, your citizenship or residency status, and whether you have previously held property in Australia are the key variables.
3. Talk to EWC about HomePay and property selection to understand how the construction payment structure works alongside your finance. You can book a free call or visit /contact to start that conversation.

For a broader overview of EWC's approach to first home buyer property sourcing and finance coordination, see /services.

General information only, not personal financial advice. Speak with a licensed adviser before acting.