First Home Buyer Guide to Camden — Everything You Need to Know
Buying your first home is one of the biggest financial decisions you'll ever make. It can feel overwhelming — there's a lot of information out there, a lot of moving parts, and it can be hard to know where to start.
If you're looking at Camden and the surrounding area, you're in one of the most active first home buyer markets in Sydney. The South West Sydney Growth Area is growing fast, new estates are rolling out across suburbs like Oran Park, Gregory Hills and Spring Farm, and there are more government schemes available right now than at any point in recent memory.
This guide covers everything you need to know before you apply.
Why Camden Is One of the Best Places to Buy Your First Home in Sydney
Camden LGA is consistently one of the most popular areas for first home buyers in Sydney, and it's not hard to see why. Entry level house prices in suburbs like Oran Park and Gregory Hills sit between $839,000 and $935,000 — still accessible compared to most of Sydney. New estates mean newer homes, modern layouts and less maintenance. And the area is right in the middle of the South West Sydney Growth Area, which means long term infrastructure investment and population growth are working in your favour.
Camden is also well suited to the government schemes currently available. The property price caps for both the First Home Guarantee and the stamp duty exemption cover a wide range of homes across the LGA, which we'll come to shortly.
The Australian Government 5% Deposit Scheme
The biggest change for first home buyers in recent years is the expanded Australian Government 5% Deposit Scheme — formerly known as the Home Guarantee Scheme.
From 1 October 2025, the scheme had some significant changes that make it more accessible than ever.
No more income caps. Previously there were income limits of $125,000 for singles and $200,000 for couples. Those have been removed entirely. It doesn't matter what you earn — as long as you meet the other eligibility requirements, you can access the scheme.
No more waitlists. The annual cap on places has been removed. There's no longer a limited number of spots each financial year, so you don't have to race against other buyers to secure your place.
No Lenders Mortgage Insurance. You still pay no LMI under the scheme, which can save you tens of thousands of dollars depending on your loan size and deposit.
For first home buyers in Camden, the property price cap is $1,500,000 — which covers the vast majority of homes across the LGA. If you have a 5% deposit saved, this scheme is worth exploring before anything else.
We've written a full blog on this scheme — you can read it here.
What If You Haven't Saved 5% Yet? Guarantor Loans
Not everyone has had the time or the means to save a 5% deposit. That doesn't mean you're stuck.
A guarantor loan allows a family member — usually a parent — to use the equity in their own property as additional security for your loan. This means some lenders will lend you up to 100% of the purchase price, and in some cases up to 110% to cover home related costs like stamp duty, legal fees and moving costs.
Here's how it works in simple terms. Instead of needing a cash deposit upfront, your guarantor provides a limited guarantee secured against their property. The guarantee is usually limited to the shortfall amount — so your parents aren't putting their entire home on the line, just a portion of it. Once your loan reduces to a certain level — typically 80% of the property value — the guarantee can be released and your parents' property is no longer attached to your loan.
It's one of the most common pathways for first home buyers who have the income to service a loan but haven't had enough time to save. Read more about our guarantor loan service here.
Stamp Duty — What You'll Pay and What You Could Save
Stamp duty is one of the biggest upfront costs for any property buyer. The good news is that first home buyers in NSW have access to some meaningful exemptions and reductions.
Here's how it works:
Full exemption — properties up to $800,000. If you're buying a home under $800,000, you pay zero stamp duty. That's a saving of around $29,000 compared to a standard buyer. For first home buyers in Camden looking at Oran Park, Gregory Hills or similar suburbs, many properties in this price range exist — particularly units and smaller homes.
Concessional rate — properties between $800,001 and $1,000,000. If your property falls in this range, you pay a reduced rate of stamp duty rather than the full amount. The discount phases out progressively between $800,000 and $1,000,000.
No exemption above $1,000,000. Properties over $1 million attract full stamp duty with no first home buyer concession.
House and land packages. If you're buying a house and land package — which is common across Camden's new estates — stamp duty is calculated on the land price only, not the combined value. If the land price is under $350,000, full exemption applies.
Important: to qualify you must move into the property within 12 months of settlement and live there for at least 12 continuous months. The exemption applies to your principal place of residence only — not investment properties.
The $10,000 First Home Owner Grant. If you're buying or building a brand new home that no one has lived in before, and the purchase price is under $750,000, you may also be eligible for the $10,000 First Home Owner Grant on top of your stamp duty savings. This is worth checking before you sign a contract.
Owner Occupied vs Investment — Why It Matters for Your First Home
Most first home buyers purchase to live in, which is called owner occupied. But it's worth understanding the difference, because it affects your loan terms, your interest rate, and your eligibility for the government schemes above.
Owner occupied loans generally have lower interest rates than investment loans. Lenders see owner occupiers as lower risk, so they price the loan accordingly. If you're buying in Camden as your home, you'll access better rates than if you were buying to rent it out.
The government schemes — the 5% Deposit Scheme and the stamp duty exemption — are only available for owner occupied purchases. If you buy as an investor, you pay full stamp duty and don't qualify for the guarantee.
That said, some first home buyers consider a strategy called rentvesting — buying an investment property in an area they can afford, while renting where they want to live. This can be a legitimate strategy in the right circumstances, but it comes with trade offs. You'd lose access to the stamp duty exemption and the 5% Deposit Scheme, and you'd pay a higher interest rate. It's worth having a proper conversation about your goals before you decide which approach suits you.
Understanding Your HECS or HELP Debt
If you have a HECS or HELP debt, it affects your borrowing capacity. Lenders deduct the required repayment from your usable income when assessing your loan, which can reduce how much you can borrow.
What a lot of people don't know is that some lenders will exclude your HECS debt from their calculations entirely if it's projected to be repaid within 12 months. If you're close to clearing your debt, it may be worth timing your application carefully — or choosing a lender that treats HECS more favourably.
Different lenders assess HECS differently. Some include the full annual repayment. Others are more flexible. This is one of the areas where comparing lenders can make a genuine difference to your borrowing capacity, and something we look at carefully when we're working out which lender suits you best.
How to Repay Your Home Loan Faster
Getting into your first home is step one. Paying it off as efficiently as possible is the part most people don't think about until they're already in the loan.
Here are the most effective strategies:
Make extra repayments. Even small additional repayments make a big difference over time. On a $700,000 loan at 6% over 30 years, paying an extra $200 per month could save you over $70,000 in interest and cut around four years off your loan. The earlier you start, the bigger the impact — because every dollar you pay down reduces the balance that interest is calculated on.
Use a redraw facility. If your loan has a redraw facility, any extra repayments you make go directly into the loan and reduce your balance. You can access that money if you need it in the future. It's a straightforward way to reduce your interest without locking money away.
Use an offset account. An offset account is a transaction account linked to your loan. The balance in the account is offset against your loan balance daily, which reduces the interest you're charged. The key here is that interest is calculated every single day — so every dollar sitting in your offset account is working for you around the clock. Getting your salary deposited directly into your offset, and keeping as much money in there for as long as possible, can save a significant amount over the life of your loan.
Some lenders also allow multiple offset accounts, which lets you organise your money seperately — a bills account, a savings account, a holiday fund — while all of it continues to work against your loan balance.
Consider a 35 year loan term. Some lenders now offer loan terms up to 35 years. A longer term means lower minimum repayments, which can improve your borrowing capacity and ease the pressure in the early years of the loan. You can always make extra repayments to pay it down faster — but having a lower minimum gives you flexibility. We've written more about this here.
Things First Home Buyers Often Miss
A few other things worth knowing before you apply:
Building and pest inspection. Always get one before you buy. The cost is a few hundred dollars and could save you from buying a property with serious structural issues.
Conveyancer or solicitor. You'll need one to handle the legal side of your purchase. We can recommend someone if you don't have one already.
Lenders Mortgage Insurance. If you're borrowing more than 80% of the property value and not using the 5% Deposit Scheme or a guarantor loan, you'll likely be required to pay LMI. This can be a significant cost — sometimes tens of thousands of dollars — so it's worth understanding upfront.
Pre approval. Getting pre approved before you start looking gives you clarity on your budget and shows agents and vendors you're a serious buyer. It can also speed up the process significantly when you find the right property.
Your credit file. Lenders will check your credit history as part of the application. If you haven't reviewed your credit file recently, it's worth doing before you apply — sometimes there are errors that can be corrected. We can point you in the right direction on this before we lodge anything.
Ready to Take the First Step?
We're based locally in Camden and work with first home buyers across the South West Sydney Growth Area every day. We know the local market, we know which lenders suit which situation, and we'll walk you through every step of the process.
Get in touch today and let's work out what options are available for you.
