First-time buyer in Sydney: how much cash buffer after closing?

Try the same plan with one bad month inserted: reduced income plus an insurance excess or urgent repair. If the only way through is postponing a mortgage or service charge, the buffer is not doing its job. If only furniture gets delayed, the plan is behaving as intended.
 
That is the key distinction: inconvenience versus financial danger. An unfurnished bedroom is inconvenient. An unpaid recurring charge or unrepaired leak is dangerous. The A$24,320 should be assigned in that order, with the inspection and payment calendar completed before committing.
 
My practical next step would be to pause the percentage question and collect five figures: post-completion monthly essentials, moving total, first mortgage payment timing, service charges due in the first year, and urgent inspection work. Subtract those from A$24,320 while preserving emergency cash. If the result is negative, lower the price target rather than trimming the safety margin.
 
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