Financing your new home

Saving your deposit

Many Australians dreaming of their own home are still renting because it can take years to save a deposit. The Federal Government’s First Home Loan Deposit Scheme (FHLDS), first launched in January 2020, means each year 10,000 Australian families will be able to buy a first home. 

More places for the FHLDS were released in July 2021. To find out if you’re eligible for this scheme, contact Simonds today.



Whether you’ve chosen your Simonds home design, one of our home and land packages or are still doing research, you can apply for a home loan pre-approval at any time. A pre-approval is when a bank or lender gives you the green light to build your home, under the agreement that they will lend you a certain amount of money. That means you'll be able to confidently browse homes within your budget.

First Home Owner Grant

The First Home Owner Grant is a national scheme funded by the government to help offset the effect of GST on home ownership. You can find out more about the first home owners grant here.

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Related information

Breaking down the costs

The cost of building a home is extremely variable, depending on the house itself and where you choose to build. According to The Housing Association, the average house in Australia is 243sqm, which means the cost for the build portion sits at just under $300,000.

The cost of building is influenced by six key factors:

  • Size of the house.
  • Quality: high build quality and use of high-quality materials require better finishing and craftsmanship.
  • Site considerations: land cost, levelling the surface, removing trees and greenery before build.
  • Desired timeframe.
  • Complexity.
  • Location: suburb appeal, council or state requirements such as Bushfire Attack Levels (BAL).

It's also important to note that the price of building often doesn’t include optional extras like landscaping, fencing, a swimming pool and local council costs.

Understanding industry terminology

As a first home builder, we know it can be overwhelming coming into new industry terminology and construction jargon. To help you feel more confident as you move through your build adventure, we’ve broken down some commonly used terms.

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