First Home Buyer Guide

Buy Your First Home in Monterey

Monterey is a stretch but you're buying scarcity value in a prestige waterfront location.

$600K

Entry Unit Price

$1.70M

Entry House Price

4/10

FHB Suitability

25-35 min via Princes Hwy

to Sydney CBD

Start Your Search Check Your Eligibility

First Home Buyer Grants & Incentives 2026

NSW offers generous support for first home buyers. Here's what you may be eligible for when buying in Monterey.

First Home Owner Grant (FHOG)

$10,000

New homes up to $750,000

Stamp Duty Exemption

Up to $31,000 saved

Properties under $800,000

First Home Guarantee

5% deposit (no LMI)

Income up to $125,000 (single) / $200,000 (couple)

Family Home Guarantee

2% deposit

Single parents with dependents

Calculate Your Savings

Why Monterey is Great for First Home Buyers

Monterey scores 4/10 for first home buyer suitability. Here's why.

Affordability

Entry units from $600K
Entry houses from $1.70M
Stamp duty exemption for units under $800K

Commute & Transport

Bus to Rockdale Station (10 min)
Brighton-Le-Sands 2 min walk
Airport 8km
25-35 min via Princes Hwy to CBD

Lifestyle & Amenities

Monterey Bay foreshore
Scarborough Park Playground
Brighton-Le-Sands foreshore

Growth Potential

Monterey has grown 8.8% (houses) and 6% (units) in the past 12 months. Your first home could be a strong long-term investment.

+6%

Unit Growth (12 months)

5 Steps to Buying Your First Home in Monterey

Get Pre-Approved

Talk to a mortgage broker to understand your borrowing capacity and get pre-approval.

Research & Shortlist

Work with Michael to identify suitable properties in your budget and preferred areas.

Inspect Properties

Attend open homes and private inspections. Michael will highlight pros and cons of each.

Make an Offer

Michael guides you through negotiations or auction strategy to secure your first home.

Settlement & Keys

Complete the purchase with your conveyancer and collect the keys to your new home!

What Monterey Clients Say

Real results from real clients in Monterey and surrounding suburbs

“We've been in Monterey for 20 years and finally found our forever home with Michael's help. He understood what makes this quiet pocket special.”

The Angelopoulos Family

Family Home • Monterey • 2025

“Selling our Monterey home after 30 years was emotional. Michael handled everything with professionalism and achieved $200K above our expectations.”

Robert & Jane P.

Waterfront Villa • Monterey • 2025

“Michael found us a unit with bay glimpses in Monterey. Perfect location near Scarborough Park for our kids.”

The Nguyen Family

Bay-view Unit • Monterey • 2024

First Home Buying FAQs for Monterey

Common questions about buying property in Monterey

Can first home buyers afford Monterey?

Entry-level units in Monterey start at $600,000. It's a stretch, but you're buying into a prestige location with strong capital growth potential.

What grants are available for first home buyers in NSW?

NSW first home buyers can access: First Home Owner Grant ($10,000 for new homes), stamp duty exemptions for properties under $800,000, and the First Home Guarantee Scheme (5% deposit with no LMI).

How much deposit do I need?

With the First Home Guarantee Scheme, you may only need 5% deposit. Otherwise, standard deposits are 10-20%. Michael can connect you with mortgage brokers who specialise in first home buyer lending.

What are the hidden costs of buying?

Budget for: stamp duty (unless exempt), conveyancing ($1,500-2,500), building & pest inspection ($400-600), and loan establishment fees. Michael provides a free buyer's cost calculator.