Your Journey to
Your First Home
Preparation is the key to a confident offer.
Follow this straightforward guide to help you get ready for the biggest purchase of your life.
Get Your Ducks in a Row
Check Your Credit Report
Before lenders look at you, you should look at yourself. Ensure your credit file is clean and correct any mistakes early.
Major Upfront Costs
A deposit isn't the only cost. You also need to budget for Stamp Duty and conveyancing fees (which are typically around $1,000–$2,000).
Calculate Stamp DutyAre you a temporary resident?
Being a temporary resident will limit your lending options and you may face additional surcharges (like FIRB). However, we can still find a solution for you. Let's chat about your specific visa subclass.
It is highly recommended that you discuss your situation with a conveyancer ASAP before you start searching for properties to understand the full costs involved.
Rough Borrowing Capacity
Use this rough calculator to get a baseline before you start looking at houses. This way, you can be confident on the kind of offers you can put in.
Do you have any existing debts?
Note: Stamp duty and other government or conveyancing fees are not included in this calculator and will need to be paid separately from your deposit.
Disclaimer: This is a super rough indicator to get you started. You should book an appointment with us for an accurate assessment, especially if you are self-employed, have complex income, or other debts.
Book an appointment with usStart Searching & Buying
Start Searching
Now that you know your rough capacity, hit the market. Look for houses within your range and start attending inspections.
Draft Contracts
When you find a property you like, ask the agent for the draft Contract of Sale. Always run it by your conveyancer before signing anything.
Building & Pest Inspections
Do these ASAP once you are serious. If they uncover hidden issues, you might be able to negotiate the price down based on this new info.
The Lending Process
1. Submit to the Bank
Once you've signed the Contract of Sale (COS), we will submit the signed contract and your finalized application to your chosen lender.
2. Bank Valuation
The bank will arrange an independent valuation to confirm the property's market value. It's helpful to ensure your offer closely aligns with comparable sales in the area—if a valuation comes in lower than the purchase price, you may need to cover the difference yourself.
3. Unconditional Approval
The bank formally reviews the property and gives their official stamp of approval. You are now officially cleared to buy the home.
4. Loan Contracts
You will receive the legally binding loan contracts. We will help you review them and ensure everything aligns with what was discussed before you sign.
5. Settlement & Final Funds
Your conveyancers will sort out settlement day and handle paying the final deposit to the vendor. It is crucial that you are ready to transfer any final shortfall of funds (for the rest of your deposit, stamp duty, or conveyancing fees) before settlement to avoid any delays.
6. Post-Settlement & Beyond
Congratulations, you are sorted! But it doesn't end here. Stay in touch with us to negotiate better interest rates in the future or to explore financing that fits your evolving life.
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go beyond.
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