First Home Buyer Checklist | Snowball Invest

Before you start looking

Check your eligibility for first home buyer schemes in your state: stamp duty concessions, the First Home Guarantee, and the First Home Super Saver Scheme.

Get a clear picture of how much you could actually borrow before you start looking.Estimate your borrowing power →

Keep your deposit savings in a separate high-interest account, and check if the First Home Super Saver Scheme could help you get there faster.

Getting finance-ready

Pay down or consolidate high-interest debt where you can, it directly affects how much a lender will offer you.

Avoid opening new credit cards or increasing existing limits in the months before you apply for a loan.

Get pre-approval from a lender or broker before you start making offers on properties.

Budgeting for the purchase

Estimate the stamp duty payable in your state.Estimate your stamp duty →

Budget for conveyancing or legal fees, a building and pest inspection, loan establishment fees, and mortgage registration.

Factor in ongoing costs after settlement: council rates, strata or body corporate fees if applicable, insurance and maintenance.

Before you sign

Get a building and pest inspection done before making an unconditional offer.

Have a solicitor or conveyancer review the contract of sale before you sign anything.

Confirm your loan is fully approved, not just pre-approved, before the cooling-off period ends.