First homebuyer help please!

Hi all,

I’m not very financially fluent, so this is a bit of a ‘I don’t want to fuck this up’ post. Just looking for advice or if there’s any tricks of the trade I can use to make this as smooth as possible.

Looking at getting into the property market soon, we still have around 8 months left on our tenancy agreement so going to use this to save as much as we can to our deposit.

Currently paying $820pw in Perth. Trying our best to stay in the area as the kids (2) absolutely love the school and the friends they have made there and this is the best sense of community I’ve had in Perth.

My partner and I have around $35k saved with around $10k invested (ASX and other things) and think we can save another $20k in this 8 months we have remaining through tax returns etc.
I make around $110-120k a year and my wife is on around $170k. We have already reached out to a broker maybe 6 months ago and they advised our borrowing power would be about $1-1.2m and that my wife should get her credit rating up a bit before we apply (unknown debt for some time. Nearly payed back in full.)
We probably have around $17k debt (car finance etc)

We will be using the 5% FHBS and we’ve been thinking of keeping our budget around $850k-$950k and getting the most amount of land for our money, regardless of what’s sitting on it. As long as it has 2 beds I think we’ll be sweet.
Renovating over time.
Median house price at the moment is $1.2m but I do see some pretty good houses become available for the $900k mark.

What’s the forecast for housing in the next 12 months with all the news coming out with the budget? And could it work out in our favour? Or is it ridiculous to even ask?

Apologies if this is stupid and obvious. This is all so new to me and I honestly just feel so lucky to be in a position to be having these conversations in the first place.