Make a list of:
Knowing what you want will help you avoid buying a property that does not meet your needs. This can also help with narrowing the list of properties you may look at via open homes or private appointments.
Carefully assess your financial situation and desired standard of living when deciding how much you can afford to borrow and repay.
Take into account:
Consider the costs of buying a property, including:
Also consider ongoing costs of property ownership, including:
Don’t overlook any concessions you may be eligible for, such as:
For more information on the first home owners grant, visit the State Revenue Office website - First home owners section.
When getting a home loan (or mortgage):
It is preferable for you to meet with your preferred lender and seek a pre approval before making an offer to buy a property.
You can find budget tools and information about home loans and mortgages on the MoneySmart website - Buying a home page.
Learn as much as possible about every aspect of the property buying and selling process, and the products and services offered by:
Shop around and compare products and services.
Research the market value of property in your preferred areas by: