Important Legal Disclaimer
General Information Only: This article contains general information only and does not constitute personal financial, legal, taxation, or professional advice. The information provided is based on Australian law and regulations as understood at the time of writing.
Not Financial Advice: The content does not take into account your individual objectives, financial situation, or needs. Before making any property purchase or financial decision, you should:
Verify all current information on official government websites, including:
- Australian Securities and Investments Commission (ASIC)
- Australian Taxation Office (ATO)
- State Revenue Offices (relevant to your state/territory)
- First Home Buyer Government Resources
Consult with licensed and qualified professionals before making decisions:
- Licensed Financial Adviser (for financial and investment advice)
- Licensed Conveyancer or Solicitor (for legal and property matters)
- Registered Tax Agent or Accountant (for tax implications)
- Licensed Mortgage Broker or Bank (for loan and finance matters)
Regulatory Compliance: Under Australian law, only individuals or entities holding an Australian Financial Services (AFS) licence or authorisation can provide personal financial product advice. This article does not constitute such advice.
Information Currency: Laws, regulations, government schemes, grants, tax rates, and lending criteria change regularly. Information in this article may become outdated. Always verify current details through official government sources and licensed professionals before making decisions.
No Liability: While reasonable efforts have been made to ensure accuracy, no warranty is given regarding the completeness, accuracy, or currency of the information. Readers use this information entirely at their own risk.
Your House Buying Checklist: The Steps to Buying a House in the Right Order
Most buyers using a house buying checklist follow this order: Agent → Pre-approval → House hunting → Offer → Close. They often skip the critical property check steps.
Smart buyers with a proper buying a house checklist know the right steps to buying a house: Market analysis → Financial setup → Pre-approval → Strategic search → Property check → Calculated offer → Close. Your comprehensive house checklist should cover all these phases including thorough property check procedures.
The difference? Using the correct house buying checklist order, house checklist steps, and steps to buy a house saves an average of $19,400.
Steps to Buying a House 1-3: Should You Buy Now? (Week 1)
Step 1: Check the Market (House Buying Checklist)
Is it a buyer's market or seller's market? Talk to agents. Review market reports. Check how long homes take to sell. These are essential steps to buying a house. If you're buying your first home, start with our comprehensive first time home buyer guide covering the complete process from calculating your true budget to understanding government schemes. Market timing alone can save you thousands.
If the market strongly favours sellers, consider waiting. Add this to your buying a house checklist.
Step 2: Rent vs Buy Calculation (Home Buying Checklist)
Include all costs:
- Lost earnings on your deposit
- Maintenance (1-2% of home value yearly)
- Council rates and insurance
- Buying and selling costs
If breaking even takes 7+ years, and you won't stay that long, renting might be smarter.
Step 3: Check Your Financial Health
- Credit score 740+? You'll get the best rates
- Credit score 640-739? Good rates available
- Credit score below 640? Spend 6-12 months improving first
Don't start house hunting before knowing your position. This is essential on any house buying checklist.
Steps to Buying a House 4-8: Get Your Money Right on Your Home Buying Checklist (Weeks 2-4)
Step 4: Decide on Deposit Size (House Buying Checklist)
These steps to buying a house determine your mortgage options on your buying a house checklist:
- 20% deposit: Best rates, no mortgage insurance
- 10-15% deposit: Good rates, some mortgage insurance
- 5% deposit: Programs available, higher insurance costs
Calculate which makes sense for your home buying checklist.
Step 5: Get Pre-Approval (Not Pre-Qualification)
These sound similar but are completely different:
Pre-qualification (NOT what you want):
- Quick estimate based on what YOU tell the bank
- No document verification
- No credit check (or only soft pull)
- Takes 10-20 minutes online
- Worth nothing - sellers don't trust it
Pre-approval (what you actually need):
- Bank verifies your income, employment, assets, debts
- Hard credit check
- Conditional approval subject to property valuation
- Takes 2-5 days with documentation
- Sellers take you seriously - shows you're a real buyer
Shop 3-5 lenders. A 0.25% rate difference costs $15,000+ over 30 years.
Step 6: Set Your Real Budget
Banks approve you for the maximum. Don't use it all.
Keep housing costs under 28% of your income. Build in a 15-20% buffer for surprises.
Step 7: Confirm Your Cash Reserves
Beyond the deposit, your buying a house checklist needs:
- Settlement costs (2-5% of price)
- Moving costs ($2,000-$6,000) - see our moving checklist to plan ahead
- Immediate repairs ($3,000-$8,000)
- 6-month emergency fund
- Property check and inspection costs ($400-$800)
Missing these on your buying a house checklist? You'll be stressed and stretched.
Step 8: Check First Home Buyer Programs
Check firsthome.gov.au for grants and assistance. Programs can provide $5,000-$15,000 in help. You have to apply.
Steps to Buying a House 9-15: The Search Phase of Your Buying a House Checklist (Weeks 5-10)
Step 9: Make Your House Buying Checklist Must-Have List
Limit must-haves on your buying a house checklist to 5 items. Everything else is negotiable. These steps to buying a house focus your search on your home buying checklist. Know what to look for buying house before viewing. Watch for critical red flags buying house warning signs. Learn the 31 deal-breakers that signal structural failures, safety hazards, or hidden costs averaging $43,000 in surprise repairs.
Too many must-haves on your house buying checklist and home buying checklist = impossible search.
Step 10: Research Neighbourhoods (Property Check Essential)
Before viewing homes, research 3-5 target areas and complete your property check research. This buying a house checklist step is critical:
- Crime rates (property check safety data)
- School ratings
- Council development plans (property check for future developments)
- Transport options
One couple found their "dream area" had declining values. They switched to a nearby area and gained $67,000 in equity in 3 years. Their property check of council plans revealed declining infrastructure investment. Use our property market analysis guide to identify suburbs with funded infrastructure projects. Smart buyers track major transport investments 2-4 years before completion to secure properties before price increases. A thorough property check saves thousands.
Step 11: Learn Listing Language
- "Cosy" = Small
- "Needs TLC" = Major repairs
- "Motivated seller" = Room to negotiate
- "Priced to sell" = Was overpriced before
Step 12: Pre-Screen Online
Use virtual tours and photos to eliminate bad options. Look for red flags. Review our home inspection checklist 156 items to know what to check. Before your first viewing, study our guide on what to look for buying house covering 47 critical inspection points from foundation to roof. This prevents costly oversights. Save time for serious candidates.
Step 13: View Properties (Max 5-7)
Use a checklist. Take photos and notes. Never view more than 3 in one day. Tiredness leads to bad decisions. Review apartment-specific tips if you're considering apartments.
Step 14: Compare Properties
After tours, score each property against your criteria. Use a spreadsheet. Research comparable sales to understand fair pricing.
Step 15: Research the Seller
How long has it been listed? Any price drops? Why are they selling? Prepare your questions to ask when buying a house before making an offer.
This shapes your offer strategy.
Steps to Buying a House 16-19: Making an Offer on Your Home Buying Checklist (Weeks 11-13)
Step 16: Set Three Price Points on Your Buying a House Checklist
These steps to buying a house are critical for your buying a house checklist:
- Market value: Based on recent sales and property check data (home buying checklist research)
- Competitive offer: 2-6% above market value
- Maximum: Based on what you can afford long-term (buying a house checklist limit)
Never go above #3 on your buying a house checklist steps.
Step 17: Plan Your Conditions
Standard conditions: inspection, finance, valuation.
Strategic buyers remove conditions they've already satisfied.
Step 18: Present Your Offer
Combine strong finances with a personal touch. Show pre-approval. Be flexible on settlement dates.
Step 19: Negotiate
Be ready to negotiate on:
- Price
- Settlement costs
- Repairs
- Included items
- Settlement date
Know when to walk away.
Understanding Contract Conditions: Sunset Clauses
After you negotiate and sign a contract, you're not fully committed yet. Australian property contracts include conditions that let you exit if things go wrong.
Standard conditions (your safety net):
- Finance condition (14-21 days typical) - If bank denies your loan, you can cancel and get deposit back
- Building inspection condition (7-14 days typical) - If inspection finds major issues, you can exit or renegotiate
- Valuation condition (included with finance) - If bank values property lower than purchase price, you can renegotiate or exit
Sunset clause (important for off-the-plan purchases): A deadline by which the property must be completed (registered/settled). Developer delays past sunset = you can walk away and get full deposit back. But developers can deliberately trigger it in rising markets to cancel your contract and resell at higher price.
Protection: Negotiate sunset clause of 12-18 months (not 3-5 years). Shorter deadline reduces developer manipulation risk.
Steps 20-23: Settlement (Weeks 14-18)
Step 20: Get a Professional Inspection - Essential Property Check
Never skip this ($400-$600 investment). This professional property check covers foundation, electrical systems, and roof condition. Attend in person. Ask questions. Check property boundaries are clearly marked and match title documents.
Use property check findings to renegotiate or walk away. The inspector will check property systems, structure, and boundaries.
Step 20b: Order Asbestos Testing (For Pre-1990 Homes)
If the property was built before 1990, you need a separate asbestos inspection. This is not included in standard building inspections.
Why this is critical:
- 80% of pre-1990 Australian homes contain asbestos
- Standard building inspectors note "suspected asbestos" but don't test
- Asbestos presence severely limits renovation options
- Removal costs $5,000-$50,000+ depending on extent
What asbestos testing covers ($150-$400):
- Sample collection from suspected materials
- Laboratory analysis
- Written report identifying all asbestos locations
- Photographic documentation
Common asbestos locations in Australian homes:
- Wall/ceiling insulation (especially fibro walls)
- Roof materials (cement sheeting)
- Bathroom/laundry walls
- Garage and fence materials
- Under eaves
Timeline impact: Add 1 week for asbestos testing. Testing takes 3-5 business days for lab results.
Step 21: Handle the Valuation
If the valuation is low, you can:
- Renegotiate price
- Increase your deposit
- Challenge with comparable sales data
Step 22: Final Walkthrough - Final Property Check
72 hours before settlement, complete your final property check:
- Check property condition unchanged
- Confirm repairs completed
- Verify included items present
- Check property boundaries are clearly marked (if applicable)
This final property check is your last exit opportunity.
Step 23: Review Settlement Documents
3 days before settlement, review all documents:
- Loan terms match approval
- No surprise fees
- Rates calculated correctly
Have your conveyancer explain anything unclear. After settlement, use our comprehensive moving checklist timeline with an 8-week system. Starting planning early saves an average of $2,380 on moving costs through early-bird mover rates, strategic decluttering, and proper utility coordination.
Quick Reference: Complete Home Buying Checklist and Steps to Buying a House
Before You Start Your House Buying Checklist (Steps to Buying a House Preparation)
- [ ] Check credit score
- [ ] Calculate rent vs buy
- [ ] Research market conditions
Financial Setup for Your Buying a House Checklist (Home Buying Checklist Essentials)
- [ ] Get pre-approval from 3-5 lenders
- [ ] Set realistic budget (house buying checklist foundation)
- [ ] Confirm cash reserves
- [ ] Check first home buyer programs
The Search Phase of Your Home Buying Checklist (Steps to Buying a House 9-15)
- [ ] List 5 must-haves maximum (buying a house checklist limit)
- [ ] Research 3-5 neighbourhoods
- [ ] Pre-screen online
- [ ] View 5-7 serious candidates
- [ ] Compare using spreadsheet
Making an Offer on Your House Buying Checklist (Home Buying Checklist Offers)
- [ ] Research comparable sales
- [ ] Set three price points (steps to buying a house)
- [ ] Prepare conditions
- [ ] Know your walk-away point (buying a house checklist essential)
Completing Your Home Buying Checklist
- [ ] Professional building inspection
- [ ] Review valuation
- [ ] Final walkthrough
- [ ] Review settlement documents
The Bottom Line: Your Complete House Checklist for Success
Using a systematic house checklist and following the complete house buying checklist prevents costly mistakes.
Following these 23 steps takes longer than rushing in. But buyers who follow this process close faster, pay less, and avoid costly mistakes. Build in home buying safeguards so you don't miss incentives.
Buying a house is easier when you know the red flags and due diligence steps. Use those insights with these steps and the questions to ask when buying a house to stay in control.
The checklist is your defence against expensive errors.
House Hunting Checklist: How to Check Property Effectively
Your house hunting checklist should go beyond this buying process guide. When you physically inspect properties, you need a systematic approach to check property condition thoroughly.
House Checklist for Viewing Properties
Before every inspection, use this house checklist to check property essentials:
- Structural integrity - Look for cracks in walls and ceilings
- Water damage - Check for stains on ceilings and around windows
- Electrical systems - Test light switches and power points
- Plumbing - Run taps and flush toilets during your visit
- Natural light - Visit at different times to assess lighting
- Storage space - Check wardrobes, cupboards, and garage
Check Property During Your House Hunting
A thorough property check during house hunting reveals issues that photos hide. Your house hunting checklist should prompt you to:
- Check property boundaries - Walk the perimeter to understand lot size
- Inspect the roof - Look for missing tiles, rust, or sagging
- Test noise levels - Visit during peak traffic hours
- Assess privacy - Check neighbouring windows and proximity
Use this house checklist at every property you view. Document your findings in notes or photos. This systematic approach to check property condition helps you compare options objectively.
Your Complete House Hunting Checklist
Outside the property (house checklist):
- [ ] Foundation visible and stable
- [ ] Gutters and drainage functional
- [ ] Fencing and boundaries clear
- [ ] Driveway and paths in good condition
- [ ] Garden manageable size
Inside the property (check property):
- [ ] All rooms accessible
- [ ] Windows open smoothly
- [ ] Floors level and solid
- [ ] Adequate power points
- [ ] Hot water working
This house hunting checklist ensures you check property thoroughly before making any offer. A detailed house checklist prevents costly surprises after purchase.