The initial deposit for purchasing property in the Australian Capital Territory (ACT) typically ranges from 5% to 20% of the property’s purchase price. First-home buyers may qualify for concessions, such as reduced stamp duty or grants, which can lower upfront costs. Lenders usually require a minimum 5% deposit, but a 20% deposit avoids Lender’s Mortgage Insurance (LMI).
Additional costs like stamp duty, legal fees, and inspection fees should also be budgeted. Consulting a mortgage broker or financial advisor can provide tailored advice based on individual circumstances and current ACT housing policies.
