How to use this checklist
This page is deliberately shorter and more actionable than the main guide. It is the “what do I do next?” version. Use it as a simple sequence, not as a one-sitting read.
If you feel overwhelmed, do not try to solve everything at once. Move in this order:
- work out your borrowing and deposit path
- get the right pre-approval
- choose the property type and location
- do not go unconditional until the checks are done
Before pre-approval
- Decide your target buying window: now, 6 months or 12+ months.
- Estimate your deposit, buying costs and buffer.
- If you still need to map the savings side properly, use the deposit guide before you set a target price.
- Check whether the scheme calculator suggests a low-deposit path may fit.
- Pull together payslips, ID, bank statements and debt statements.
- Avoid taking on new credit or large unexplained transfers.
Pre-approval stage
- Choose a lender or broker strategy based on your actual income type and deposit source.
- Check any HECS, overtime, casual income, probation or credit-card-limit issues early.
- Confirm your maximum price range and your comfortable repayment range - they are not always the same number.
- Make sure the structure fits your likely property type, not just your income.
Property search stage
- Shortlist suburbs and property types that fit the real budget, not the dream budget.
- Check whether the property still fits any relevant grant or scheme cap.
- For apartments or townhouses, expect to review strata detail and levies.
- Do not emotionally commit until the finance and due-diligence path is clear.
Before making an offer or bidding at auction
- Know your deposit amount, settlement timeframe and finance condition strategy.
- Have the contract reviewed if possible.
- Check your likely stamp duty and other settlement costs.
- For auctions, make sure your finance strategy and deposit position are ready before auction day.
Before you go unconditional
- Finance approved or clearly on track.
- Building / pest / strata checks complete where relevant.
- Insurance considered.
- True funds-to-complete number confirmed.
- No new debts or major changes to your financial position.
Settlement week checklist
- Conveyancer or solicitor has confirmed settlement figures.
- Loan documents signed and returned.
- Money is in the right account, in the right time frame.
- Insurance arranged if required by the lender and relevant for the property type.
- Utilities, internet and moving plan booked.
After settlement
- Set up offset or redraw the way you intended.
- Keep a small cash buffer rather than spending the last available dollar.
- Review the loan again after the first few months, especially if your circumstances or rates change.
Next steps
- Use the scheme calculator if you have not yet worked out the low-deposit path.
- Use the guide if you want the reasoning behind each checklist step.
- Use the broker page if you want the plan checked against real lender policy before you move.
FAQs
What should first home buyers do first?
Start with the numbers: deposit path, borrowing power and total funds required. Once that is clear, pre-approval and property search become much calmer.
Should I use the checklist or the guide?
Use both, but for different jobs. The guide is the long-form explainer. The checklist is the short, repeatable action list.
What is the biggest first home buyer mistake before making an offer?
Going too far emotionally before the finance, duty, deposit and due-diligence path is clear. That is where rushed mistakes start.
Do I need a checklist if I already have pre-approval?
Yes. Pre-approval is only one stage. You still need to manage property checks, contract review, settlement costs and the move to unconditional status carefully.
What should I check right before settlement?
Make sure the settlement figures are confirmed, loan documents are complete, the required funds are in place, and any property-specific requirements such as insurance are sorted.