The initial deposit required for purchasing property in Sydney, New South Wales, typically ranges between 5% and 20% of the property’s purchase price. For a standard home loan, lenders usually expect a minimum deposit of 10%. First-time buyers may qualify for government schemes like the First Home Loan Deposit Scheme, reducing the deposit to as low as 5%. Additional costs, such as stamp duty and legal fees, should also be factored into the budget. Market conditions and lender policies can influence deposit requirements, so consulting a mortgage broker or financial advisor is advisable for personalized guidance.
