First home buyer checklist
Part 2: Start your search, make the purchase and move in.
Buying your first home is a big milestone
And while it can feel overwhelming at times, a little preparation goes a long way.
We have prepared a step-by-step checklist to help you on your journey to owning your first home.
First home buyer checklist
- Step 5: Start the search for your first home
- Step 6: Arrange a conveyancer and inspections
- Step 7: Make an offer
- Step 8: Finalise your home loan
- Step 9: Getting ready for settlement
- Step 10: Settlement day and beyond
Step 5: Start the search for your first home
With pre-approval in hand, you're ready to start inspecting properties and making offers.
But remember pre-approval isn't a final loan approval, it's an estimate and your lender will need to confirm once you have signed a contract.
Private sale: you can usually make an offer 'subject to finance' – this gives you time to get a formal loan approval and protects your deposit if the loan falls through.
Auctions: auction sales are generally unconditional. There's no 'subject to finance' option and no cooling-off period. You'll need to pay the deposit on the day and be confident you can complete the purchase. If auctions are common where you're looking, have your finance in place, do inspections ahead of time and only bid if you're 100% ready to proceed.
Step 6: Arrange a conveyancer and inspections
Book inspections as soon as you're serious about a property and send the report to your conveyancer.
Conveyancer/ solicitor
Reviews the contract, checks title and rates, handles settlement paperwork – they're your legal guide.
Building inspection
Looks for structural issues and major repairs required to the property.
Pest inspection
Checks for termites and other infestations.
Step 7: Make an offer
There are two common ways to buy a home in Australia: private sale and auction.
Get legal advice before signing anything. A conveyancer or solicitor will explain your rights and review the contract.
Step 8: Finalise your home loan
Once your offer is accepted, it's time to go from pre-approval to full loan approval.
This includes:
A formal property valuation by your lender.
Final checks on your income, expenses and deposit.
Locking in your loan structure (variable, fixed or split).
Choosing your loan features (offset account, redraw etc.)
If you're eligible for government support (like the First Home Guarantee), your lender will guide you through the paperwork.
Your conveyancer will handle the legal side, including checks on the title, council rates, strata (if applicable), and ensuring all paperwork is in order.
Get insurance from this point – you're usually responsible for the property once contracts are exchanged.
Step 9: Getting ready for settlement
In the lead-up to settlement, a few things will need to happen:
You'll receive your final loan documents to sign.
Your conveyancer will liaise with your lender and the seller.
You'll do a final inspection to make sure the property is in the same condition as when you bought it.
Your lender will transfer the money to the seller, and the title is officially transferred to you.
Keep your phone on that day – your conveyancer may need to get in touch for last-minute details.
Step 10: Settlement day and beyond
Once settlement is complete, the keys are yours. Time to celebrate!
Connect your utilities (electricity, internet, water etc.)
Update your address details.
And enjoy your new space!
Buying your first home is a big achievement. Don't forget to stop and celebrate how far you've come.
Need to move back?
Head back to read steps 1 to 4.
* The information in this webpage is general information only. The information is intended for general guidance only and does not constitute financial or legal advice. You should consult your own professional advisors before making any decisions. While we aim to provide accurate and up-to-date information, we do not guarantee the completeness or suitability of this content for your specific circumstances. Whilst care has been taken in preparing the content, no liability is accepted for any errors or omissions in this communication, and/or losses or liabilities arising from any reliance on this communication.