How to Buy Property in Australia as a Self-Employed Individual

Being your own boss comes with freedom and flexibility—but when it comes to buying property in Australia, being self-employed can make things a bit more complex. Lenders want proof of income, stability, and the ability to repay a loan. If you're buying your first home or considering an off-the-plan property, understanding the steps can make the process smoother.

Self-employed buyers can absolutely get a home loan. It just takes more preparation and a few extra documents.

What Do Lenders Look For?

Lenders assess your income differently when you're self-employed. Instead of payslips, they look at your business history, financial health, and consistency over time.

Common requirements include:

• At least two years of business financials
• Two years of personal and business tax returns
• Profit and loss statements
• A valid ABN registered for two years or more
• BAS (Business Activity Statements)
• Evidence of ongoing contracts or regular clients

The stronger your records, the more confident a lender feels in your ability to manage repayments.

The Markets Residences | Off the plan Belconnen, Canberra | Secure with $10k and $524 x 43 weeks

Loan Options for Self-Employed Buyers

Many banks and lenders offer specialised products for self-employed individuals. These can include:

• Full doc loans: For those with complete financial records
• Low doc loans: For buyers with less documentation or newer businesses
• Alt doc loans: Based on BAS, bank statements, or accountant declarations

Each loan type has different rates, conditions, and deposit requirements. A mortgage broker can help compare your options and match you with a lender who understands your business.

Saving a Deposit and Budgeting

As with any buyer, having a solid deposit makes a big difference. Most lenders prefer at least 20% of the property value. However, you may be able to get a loan with as little as 10%, though it could require lenders mortgage insurance (LMI).

Tips to boost your approval:

• Reduce business debt before applying
• Build a strong savings history
• Keep business and personal finances separate
• Prepare a clear explanation of irregular income (if needed)

If you're planning to buy off the plan, some developers offer extended settlement periods, giving you more time to save or get your paperwork in order.

Auburn Square | Off the plan Auburn, Sydney | Secure with $10k and $381 x 113 weeks

Benefits of Buying Off the Plan When Self-Employed

Off-the-plan properties are often a smart option for self-employed buyers. You can secure a property at today’s prices while delaying settlement for 12–24 months.

Benefits include:

• More time to build your income history
• Lower upfront costs
• Customisation options on finishes
• Access to new or growing areas

This longer timeline can work well for business owners needing time to improve their finances or finalise loan approval.

How Coposit Helps Self-Employed Buyers

Traditional home loans can feel out of reach when you’re running your own business. That’s where Coposit can make a real difference.

With Coposit, you only need $10,000 upfront to secure your new property. The rest of the deposit is paid in weekly instalments while your home is being built—without needing a loan.

No interest. No credit checks upfront. Just a flexible way to enter the market while you continue to grow your business. It’s ideal for self-employed individuals who want to buy off the plan without the immediate pressure of bank approval.

The Abbotsford | Off the plan Bowen Hills, Brisbane | Secure with $10k and $1,245 x 65 weeks

Buying Property as a Self-Employed Person Is Possible

While it may involve more paperwork and planning, buying property in Australia as a self-employed person is absolutely achievable. With the right documentation, smart budgeting, and support tools like Coposit, you can take that step into home ownership or secure your next off-the-plan investment with confidence.