You have decided to take the first step towards buying your home – now you just need to know where do you start!
Check out our useful steps below.
Find out how much you can borrow, your property price range and obtain conditional finance approval.
You can meet with a finance broker to help you determine what amount of loan you can get approval for, how much you can repay comfortably each month (or weekly/fortnightly) and determine the price you can buy your home for.
Your mortgage broker has access to most major banks and lending institutions and has good market knowledge on the best rates that will suit your needs and financial situation.
You can use one of our mortgage calculators here to help you start the process but these figures are not 100% accurate as they do not take everything into account. It’s best to make that first initial free appointment to ensure you are on the right foot!
Undertake market research and secure the services of a real estate agent
An agent can help you find and research the right suburb for you, show you the type of property you can get with your money and give you other options for suburbs where you might get more bank for your buck. Plus, they can also provide you with sales evidence of what houses have sold for and show you through some properties.
Start looking for properties on the major real estate agencies and websites like (include agency link here) and get a handle on the market, your core suburbs, what is for sale and start visiting home opens.
Get ready to make an offer
Once you have found the house you are looking for – you are ready to present a good offer. As you already have finance pre-approval you are in a better position than a lot of people who make offers so you can go in with a slight advantage.
Offer accepted – appoint a settlement agent
You have now had your offer accepted so it is time to fulfill the criteria on the contract. You need to submit and finalise your finance, pay your deposit, book a white ant inspection and possibly a building inspection and any other requirements. The appointment of a settlement agent will take place at this point in time and they are crucial to the successful settlement of your contract.
Many real estate agents have settlement agencies they can recommend or you can find your own – try asking friends and family for suggestions or just google your local agents. Mortgage Solutions works closely with Landmark Settlements and you are welcome to email them to obtain a quote here.
As a valued customer of Mortgage & Finance Solutions you will receive a discount onyour settlement. Email email@example.com or call 9204 7900 and quote Mortgage & Finance Solutions to receive a great discount on your next settlement.
Final Inspection and Settlement
Once you and the property owner have fulfilled the criteria on the offer you are ready to move towards settlement.
Usually one week prior to settlement you will attend a final inspection of the property.This is your last chance to check that everything is in good working order on the property. You need to check the following items thoroughly:
- Oven working and heating well
- Grill working and heating well
- Check the taps and hot/cold and water pressure
- Check the retic
- Pool and pump if there is one on the property
- Open and close doors and cupboards
- Switch on lights
- Flush toilets
- Fill the laundry sink half way and check it drains properly
- You can also buy power point tester from the hardware store – or take a hairdryer to test all power points
- Check heaters and air-conditioners
- Check ceiling fans
- Request copies of all manuals, warranties etc for all household appliances
Getting ready for the move. Now you have bought your first house and need to prepare for settlement and moving in.
You can use a moving checklist –, organize the connection of your gas, power and electricity in your name and internet, book the removalist, book local schools and arrange to leave your current property. Download your free checklist here.
It is also helpful to organize a mail redirection form so that nothing gets lost in the post or bills, enrollment forms etc don’t get missed. You might also want to enlist the help of some friend and put on a bbq and drinks at the end of the day or organize baby sitting for your kids.
Enjoy your new house!