Your first purchase is easier to navigate when the money, documents and decision points are understood before you find the property.
Start with the complete purchase budget
The deposit is only one part of buying a home. Depending on your state, property and eligibility, you may also need to allow for transfer duty, conveyancing, inspections, lender costs, moving expenses and a buffer after settlement.
A useful budget works backwards from comfortable repayments and available funds—not only the maximum a lender may approve.
- Available deposit and genuine savings
- Estimated purchase costs
- Emergency buffer after settlement
- Comfortable ongoing repayment level
Understand pre-approval
Pre-approval is a conditional indication based on information available at the time. It can help define a price range, but it is not unconditional approval and the property still needs to satisfy lender requirements.
Changes to employment, debts, spending, rates or lender policy can affect the final decision.
Check current first-home buyer support
Government guarantees, grants and transfer-duty concessions vary by state, property value and personal eligibility. Rules and thresholds can change, so always verify the current position through official government sources before relying on a benefit.
Move from contract to settlement
Your conveyancer reviews the contract and legal conditions while the broker manages finance evidence and lender conditions. Dates matter: finance, valuation, insurance and settlement tasks need to stay coordinated.
Common questions
Should I speak to a broker before attending open homes?+
Yes. Early preparation can help you understand your budget, documentation and potential conditions before making an offer.
Does pre-approval guarantee the loan?+
No. It is generally conditional and remains subject to final checks, the property and unchanged circumstances.
This guide does not consider your objectives, financial situation or needs. Lending policies, government programs and thresholds can change. Obtain current credit, legal, tax or financial advice as appropriate.