Apr 11, 2025
1. Organize Your Finances
Set a budget, save for a deposit (5-20%), account for additional costs (stamp duty, legal fees). Check eligibility for the First Homeowner Grant.
2. Get Pre-Approval
Meet with a loan consultant or mortgage broker to discuss options. Obtain pre-approval, and compare loan rates.
3. Research the Market
Identify neighbourhoods and property types. Attend inspections, auctions and research property trends.
4. Find a property
Search within your budget, attend open inspections, and consider hiring a buyer’s agent.
5. Make an Offer or Bid at Auction
Make an offer for private sales or bid at auction. Ensure funds are ready for the deposit.
6. Conduct Due Diligence
Hire a conveyancer, arrange inspections, and review the sale contract with your legal representative.
7. Exchange Contracts and Pay Deposit
Sign the contract and pay the deposit (usually 10%). Be aware of the cooling-off period.
8. Finalize Financing
Submit documents for loan approval and arrange mortgage insurance if needed.
9. Prepare for Settlement
Do a final inspection, ensure funds are ready, and arrange utilities.
10. Settlement and Moving In
Attend settlement, receive the keys, and move into your new home. Seek professional advice and stick to your budget for a smooth experience!
