Wooduk, We did it by 25% deposit. we avoided the mortgage insurance aswell. Justis is right once you're at around 60% equity not really an issue anymore. If you go cheap, spot reno the house when there is extra money. Pay one wage in until finished. Avoid the kiddies for a few years if still possible.
BUT. I believe that you should buy a house you like not just buy on price. If you can don't buy a first home buyers home buy something you can see yourself living in the rest of your life. 5 or 10 years down the track you will wish you did and have the trouble of selling up to buy something better, you'll be up for RE fees and stamp duty on the next house think 25k-50k just to trade up.
