📋 Free checklist

First Home Buyer Checklist

From saving your deposit to getting the keys — every step of buying your first home in Australia.

💰Saving & preparation7 tasks

Set a savings goal: deposit (5–20%) + purchase costs (4–6% of price)Open a high-interest savings account dedicated to your depositResearch the First Home Super Saver scheme (FHSS) — up to $50k tax-advantaged savingsCheck your credit report (free via Equifax, Experian, or illion once/year)Pay down any high-interest debt to improve borrowing capacityResearch First Home Owner Grant eligibility in your stateUnderstand stamp duty — check your state's first home buyer exemptions

🏦Getting finance ready6 tasks

Compare lenders — check comparison rates, offset accounts, and feesSpeak to a mortgage broker (they compare 30+ lenders at no cost to you)Apply for pre-approval (conditional approval) — valid ~3 monthsUnderstand the First Home Guarantee (5% deposit, no LMI) and check eligibilityGet pre-approval letter — you'll need this to make an offer or bid at auctionUnderstand LMI (Lenders Mortgage Insurance) if borrowing above 80%

🔍Finding a property6 tasks

Define your non-negotiables vs nice-to-havesResearch suburbs — median prices, auction clearance rates, rental yieldsSet up alerts on realestate.com.au and domain.com.auAttend open homes and research comparable salesResearch council zoning and development overlays for any property you're serious aboutConsider engaging a buyer's agent for competitive markets

📝Making an offer / auction7 tasks

Request a copy of the vendor's contract before making an offerEngage a conveyancer or solicitor to review the contractGet a building and pest inspection ($400–$700) — non-negotiableFor private treaty: make an offer with conditions (finance, building inspection)For auction: attend several first to understand the process — no cooling-off period at auctionKnow your maximum bid before auction day and stick to itHave your 10% deposit (or negotiated 5%) accessible on exchange day

⚖️Exchange to settlement7 tasks

Sign and exchange contracts — pay deposit (usually 10%)Formally apply for your home loan (provide all required documents promptly)Organise building insurance — most lenders require cover from exchangeConveyancer conducts searches (title, council, land tax, planning)Bank arranges valuation of the propertyFinal inspection 1–2 days before settlement — check property is as expectedTransfer settlement funds via your conveyancer

🏠After settlement8 tasks

Collect keys — settlement has completed!Photograph meter readings (electricity, gas, water)Contact utilities to transfer accounts to your nameUpdate address with bank, ATO (myGov), Medicare, electoral rollLodge any stamp duty exemption or first home buyer grant applications (time limits apply)Organise contents insuranceUpdate your driver's licence and vehicle registration if you've movedMeet your neighbours and locate water mains, electrical switchboard

Related tools & guides

🏠Mortgage Affordability Calculator 📖First Home Buyer Guide 🧾How Australian Tax Works