First-Home Buyer Tips for Hobart Residents in 2025
First-Home Buyer Tips for Hobart Residents in 2025
Buying your first home is a major milestone — and if you’re doing it in Hobart, you’re entering one of Australia’s most unique and tightly held property markets. With steady demand, limited stock, and solid long-term growth, Hobart remains a smart (but competitive) place to buy your first home. Here’s what every first-home buyer in Tasmania should know in 2025.
1. Understand Your Budget — Including Hidden Costs
Before you fall in love with a property, know exactly how much you can borrow and how much it will cost to purchase. Speak to a mortgage broker or bank to get pre-approved.
Common first-home costs include:
• Deposit (typically 5%–20%)
• Stamp duty (concessions available — see below)
• Conveyancing/legal fees
• Building and pest inspections
• Mortgage application or LMI (Lender’s Mortgage Insurance)
2. Take Advantage of First-Home Buyer Support in Tasmania
As of 2025, eligible first-home buyers in Tasmania may access:
• First Home Owner Grant (FHOG): Up to $30,000 for new builds
• Stamp duty concessions: Available for purchases under a set threshold (check the SRO Tasmania website)
• Federal Help to Buy Scheme: Shared equity program offering low-deposit options (subject to income caps and property value limits)
Check your eligibility and speak to a broker who can walk you through the application process.
3. Research Suburbs That Offer Value
Hobart’s inner-city suburbs may be out of reach for many first-home buyers, but there are still great options with growth potential.
Top suburbs for first-home buyers in 2025:
• Glenorchy: Affordable with strong infrastructure and transport links
• Moonah: Trendy, gentrifying, and close to the CBD
• Claremont: River views, good schools, and new developments
• Bridgewater/Gagebrook: Entry-level prices with long-term upside
• Kingston: Popular with young families, close to beaches and amenities
4. Don’t Skip the Inspections
A professional building and pest inspection is essential — especially for older homes. It can uncover hidden problems that may impact your budget or safety.
5. Be Realistic (and Ready to Move Fast)
Hobart is still a competitive market, especially in the sub-$600k range. Set realistic expectations, and be prepared to act quickly when the right home appears. A pre-approval and a clear idea of what you want will give you an edge.
6. Get the Right Team Around You
Surround yourself with experienced professionals:
• A local real estate agent who understands the market
• A broker who specialises in first-home loans
• A conveyancer who can explain the contract and help avoid legal pitfalls
7. Think Long-Term
Even if your first home isn’t your forever home, make a smart purchase with future resale or rental appeal in mind. Look for:
• Solid construction
• Good location and amenities
• Off-street parking
• Opportunity to add value later
Final Thoughts
Buying your first home in Hobart in 2025 may feel daunting, but with the right advice and preparation, it’s completely achievable. Get informed, act strategically, and don’t be afraid to ask for help — it’s what we’re here for.
Ready to make your first move? I specialise in helping first-home buyers navigate Hobart’s property market — from search to settlement. Reach out today!
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