Budgeting for Your First Rental in Australia: A Comprehensive Guide

Renting your first home in Australia can be exciting, but also stressful, especially when you’re facing rising rent prices and growing competition. In many areas, weekly rents have surged over the past year. On top of that, agents are increasingly asking renters to offer above the listed price, particularly if they don’t have payslips, local references or rental history.

It’s a frustrating situation. Many renters feel pressured to overpay just to be considered. But with the right support, you can avoid those traps and secure a rental that fits your budget, without unnecessary stress.

This guide will help you understand what to expect, how to plan your finances, and how to protect yourself in a market that often works against newcomers.

1. Upfront Costs to Consider

Before you move in, there are several one-time costs to prepare for:

• Bond (typically four weeks’ rent): A refundable deposit held for the duration of your lease.

• Advance rent: Usually two weeks’ rent is paid at the time of signing the lease.

• Moving expenses: This includes van hire, movers or packing materials.

• Utility connections: Setting up electricity, internet and gas may involve small fees.

• Furniture and appliances: Some properties are unfurnished, so you may need to buy basic items like a bed or fridge.

  
  

If you’re unsure what documents are expected for your application, check out our guide on What Rental Documents You Need.

2. Ongoing Monthly Expenses

Once you’ve moved in, your regular living costs will include:

• Rent: Your largest ongoing cost. Keep in mind that some agents now ask applicants to offer more than the advertised price, especially if their documents are considered weak.

• Utilities: Electricity, water and gas vary depending on your usage.

• Internet and phone: Internet plans typically cost between $50 and $80 per month.

• Transport: If you’re not close to work or university, budget for Opal card top-ups or petrol.

• Contents insurance: Optional, but helpful for protecting your belongings in shared housing.

Still choosing where to live? Our article on How to Choose the Right Suburb in Sydney helps you compare areas based on rent, transport, and lifestyle.

3. Unexpected Costs That Can Catch You Out

It’s common for first-time renters to overlook smaller or hidden expenses, including:

• Appliances: Not all rentals include a fridge or washing machine.

• Minor upkeep: Tenants are responsible for things like replacing lightbulbs or mowing the lawn.

• Parking permits or council fees: Especially relevant in inner-city suburbs.

• Utility setup delays: Internet or electricity delays can lead to additional short-term costs.

“I applied to three places and got no response. Then an agent told me to offer $30 more per week just to be considered.” — Jess, international student

Stories like this are common, especially among renters who are new to the country or don’t have local references. Agents know these applicants feel unsure, and some use that to their advantage.

4. Budget Smarter, Not Harder

A good guideline is to keep rent at 30 to 35 percent of your income. But with rising prices and competitive applications, sticking to that target is getting harder.

That’s where Find My Home makes the difference.

We help renters secure properties without needing to offer more rent or guess what documents to submit. We know how to present your application properly, speak directly with agents, and avoid the back-and-forth that often leads to stress or rejection. Whether you’re an international student, a new worker, or simply don’t have a rental history, we’ve helped people in your exact situation get approved.

Tired of missing out or being asked to pay more?

We’ve helped over 200 renters secure a place, even when their applications were rejected elsewhere. Reach out to us and get the support you deserve.

5. If You’re Struggling Financially

If your income is tight, there are services that may be able to assist:

• Centrelink: Provides rental assistance to eligible residents and visa holders.

• Community housing services: Some offer short-term support or low-income options.

• University student support: Many unis provide emergency grants or accommodation help.

If you’re unsure where to start, or your application has already been declined, you’re not alone. Many of our clients were in the same position before coming to us.

Final Thoughts on Budgeting for Your First Rental in Australia

Renting in Australia has become more difficult, not because of renters, but because the system often favours the highest bidder. Agents ask for more. Documents are judged harshly. Good people are rejected simply because they don’t fit the mould.

If you’re struggling with budgeting for your first rental in Australia or simply unsure where to begin, Find My Home is here to guide you every step of the way.

We help renters stay within budget, avoid pressure, and finally get the approval they’ve been waiting for. If you’re serious about finding a rental but tired of getting ignored or priced out, we’re ready to help.

Ready to take the next step? Contact us today and let’s get you approved.