Buying a house is an exciting journey. 

Here is a step by step non exhaustive list to help you through the process.

1. Save for a deposit

The more you have the less you loan.

• Aim for 20% of the purchase price

• Budget for additional buying costs

• Research house prices to set realistic goals

2. Assess your borrowing capacity

Ok, but how much can I loan?

Consider your:

• Income and expenses

• Deposit size

• Credit score (if known, if not think about finding out)

• What kind of an income buffer you have for interest rate movements.

3. Sort out home loan pre-approval

Show up with it all sorted.

• Compare rates from multiple lenders

• Consider using a mortgage broker (hint, hint Your Home Loan)

• Get pre-approval to show sellers you're set and serious

• Pre-approval typically lasts 3-6 months

4. House hunting

Unless you're after a camper van, they're kinda sitting ducks.

Create two lists:

• Must-haves (location, size, transport)

• Nice-to-haves (design features, outdoor space, pool, observatory…)

It's a good idea to:

• Stay within your pre-approved amount

• Research neighbourhoods and suburbs thoroughly

• Attend multiple inspections

• It's a process — don't rush the process

5. Making an offer

Starting to get really real.

For auctions:

• Observe several auctions first

• Be prepared with deposit (usually 10%)

• No cooling-off period applies

For private sales:

• Can make conditional offers (subject to inspection/finance)

• Cooling-off period usually applies

• Get building and pest inspections

Essential steps:

• Have a solicitor review the contract

• Arrange building and pest inspections

• Make a written offer (conditional or unconditional)

• Finalise loan approval

6. Settlement

Crossing the t-s, dotting the i-s, buying the house!

Final Steps:

• Pay stamp duty (check first home buyer concessions)

• Arrange home insurance

• Attend final inspection

• Complete settlement

• Receive keys

Remember:

• Update your budget for mortgage payments

• Account for ongoing costs (council rates, insurance, etc)

• Consider extra expenses (repairs, maintenance, etc)
  
  

Keep all documentation organised and seek professional advice when needed.

The process typically takes several months from starting your search to getting your keys.

Go to it and good luck.