Buying Your First Apartment in Sydney

For most Sydney first home buyers, the first realistic purchase is an apartment. Lending on apartments has a few quirks worth knowing before you offer.

Strata is part of the purchase

You are buying into a building as much as a home. Levies affect your borrowing power, and a strata report can reveal special levies or defects before they become your problem, in a state where building issues have made headlines, that report is money well spent.

Size and postcode rules

Some lenders hesitate below roughly 50 square metres of internal space, and a few apply stricter rules in high-density postcodes. It rarely means no, it means the lender needs choosing carefully, which is what a broker across a broad panel does. See how we compare lenders.

The upside

Apartments are where the schemes work hardest: the 5% deposit scheme covers most Sydney apartment prices, and eligible buyers pay no stamp duty up to $800,000, check your figure with the stamp duty calculator.

Start with the Buying Position tool, then talk to Charles about the buildings you are shortlisting.

General information only, not credit, legal or tax advice. Your situation is assessed properly before any recommendation. Government scheme details change; figures are current at the time of writing.