Buy a house

Whether you’re buying your first home or investing in property, purchasing a house can sometimes be a stressful experience.  We’ve put together a few quick tips to help you get started.

Buy a house

STEP 1

Do your research

The more time you spend researching your perfect property, the fewer headaches you’re likely to have later down the track. Consider issues such as:
 
  • Own or rent: Are you buying a home for your family or to rent out? If you’re considering renting, think about what your target renters are looking for. Check out sites like Realestate.com.au and Domain.com.au to see what’s available.
  • Location: Is the house you plan to buy near amenities like schools and shops? How much do properties cost in your chosen location? 
  • Deposit: You’ll need a deposit of at least 20% if you want to avoid Lenders Mortgage Insurance, so it’s good to consider a savings strategy.
  • Other costs: Buying a house involves other expenses such as legal fees, removal costs, stamp duty and loan application fees. If you’re a first-time buyer you may be entitled to the First Home Owners Grant
  • Budget: Working out your home loan finances can be complicated and it’s important to understand what effect your repayments will have on your household budget. Using a repayment calculator makes life easier.
  • Contingency: If you’re in the Defence forces, you’ll need to consider how you’ll manage your finances while you’re deployed and ensure you have enough savings to cover your home loan while you’re away.


Check out our home loan calculators

NEXT STEP
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