Buying your first home is exciting—but it can feel overwhelming too. That’s why we’ve created this First Home Buyer Checklist to keep you on track, simplify the process, and help you avoid common pitfalls.
Whether you're just starting to save or ready to attend open homes, follow these essential steps to make your home ownership dream a reality.
1. Get Your Finances in Order
Before you start house hunting, make sure your finances are solid:
- Check your credit score and take steps to improve it if necessary
- Pay down any outstanding debts
- Start saving for your deposit (generally 5–20% of the property price)
- Don’t forget additional costs like stamp duty, legal fees, and lenders mortgage insurance (LMI)
- Use online calculators to estimate your borrowing power and create a realistic budget
2. Explore Government Grants & Schemes
Take advantage of assistance available to first home buyers:
- First Home Owner Grant (FHOG) – One-off payment for eligible buyers
- First Home Guarantee (FHG) – Buy with just 5% deposit and no LMI
- Stamp Duty Concessions – Significant savings depending on your state
- First Home Super Saver Scheme – Use voluntary super contributions to grow your deposit faster
3. Get Pre-Approved for a Loan
This gives you confidence and clarity when making an offer:
- Compare lenders and interest rates
- Work with a mortgage broker (like us!) to understand your options
- Gather documents like ID, payslips, bank statements, and tax returns
- Get a pre-approval to know your borrowing limit
4. Research & Inspect Properties
Now the fun part begins!
- Choose your preferred locations and property types
- Attend open homes and book inspections
- Research recent sales to understand value
- Think long-term: future growth, resale potential, and lifestyle needs
5. Make an Offer & Finalise the Loan
Ready to make your move?
- Negotiate the purchase price and review contract terms
- Engage a solicitor or conveyancer for the legal side of things
- Finalise your formal home loan approval
- Arrange a building and pest inspection
- Sign contracts and pay your deposit
6. Settlement & Moving In
You're nearly there!
- Complete a final property inspection
- Organise home and contents insurance
- Plan for settlement day (typically 30–90 days from contract signing)
- Set up your utilities and update your address
- Move in and celebrate your new home!
Need expert guidance?
We’re here to help you every step of the way—from getting loan pre-approval to securing the best interest rate. Book a free chat with one of our experienced brokers today.
