First Home Buyers Tips​

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• Understand Your Budget & Borrowing Power

Get pre-approval early to know exactly what you can afford

Factor in stamp duty, legal fees, inspections, moving costs, and ongoing expenses

Consider future interest rate changes when planning repayments

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• Research Available Grants & Schemes

Check eligibility for the First Home Buyer Assistance Scheme (stamp duty concessions)

Explore the First Home Owner Grant (new homes)

Look into shared equity schemes or federal programs that reduce deposit requirements

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• Choose the Right Suburb

Compare suburbs based on price, transport, schools, safety, and lifestyle

Study recent sales data and rental demand to understand long-term value

Visit the area at different times of the day to get a feel for the neighborhood

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• Know the Difference Between Strata & Torrens Title

Strata properties often have lower entry prices but include ongoing levies

Torrens title gives you full ownership but often comes with higher maintenance costs

Factor these differences into your budget and lifestyle needs

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• Get a Building & Pest Inspection

Identify hidden issues before committing to a purchase

Use the report to strengthen your negotiating position

Essential for houses and recommended for strata units

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• Understand Contract Terms

Have a solicitor or conveyancer review the contract before signing

Clarify settlement periods, inclusions, cooling-off rights, and special conditions

Don’t rush—take time to understand the legal side

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• Be Auction-Ready

Auctions require you to buy unconditionally

Organize finance, inspections, and legal checks beforehand

Visit a few auctions to observe the process and set a limit before bidding

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• Consider Future Growth & Resale Value

Look for infrastructure upgrades, transport links, and development plans

Evaluate floor plans, natural light, parking, and overall functionality

Think long-term, even if it’s your first home

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• Avoid Emotional Overpaying

Stick to your budget, even if competition is strong

Compare recent comparable sales, not just listed prices

Remember: your first home doesn’t need to be your forever home

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• Work With Professionals You Trust

A knowledgeable agent can guide you on market conditions

Use a reputable broker, solicitor, and inspector

Ask questions until you fully understand each step