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• Jan. 3, 2022 /
• 11 min read

• Jan. 3, 2022 /
• 11 min read

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Buying a house can positively change the direction of your life and create wealth and security for generations.

But like anything this important, homeownership comes with a fair amount of work, sacrifice, and some risk.

Fortunately, it may not be as difficult as you’ve built it up to be. And there are a ton of resources — both online and in real life — to help.

Buying a house is a different experience than, well, pretty much anything else. But by knowing what to expect and taking it one step at a time, you can learn how to buy a house like a pro, even if it’s your first time.

Heres everything you need to know about how to buy a house in 10 steps:

1. Hire a real estate agent.

Finding a good real estate agent is all-benefits, no drawbacks for buyers. It costs you nothing, but will save you so much time—and you’ll have a pro’s know-how throughout the process. Agents have access to the Multiple Listing Service (MLS), which gives them first glance at what’s for sale in the neighborhood you want at the price you can afford.

Trulia can also help connect you with a Premier Agent when you click “Request Info” on any property page. Premier Agents are qualified agents who you can trust to work hard for you. You can also ask friends and family or visit a local real estate office. Prepare a list of questions to ask a real estate agent, and interview them before committing.

Buying a house is a complicated process and can seem daunting to first time buyers, our step by step guide explains what you need to do to buy a house.

Compare first time buyer mortgages

Compare a huge range of first time buyer mortgages on our comparison tables

How to buy a house can be broken down to nine steps:

If you are living outside Australia now, that does not automatically disqualify you from buying a property in the country. Although stricter rules apply, the Australian real estate market is open to expats.

Can you apply for a home loan?

If you are an Australian living abroad, you might be wondering if it is possible for you to apply for a home loan. The answer is yes – however, you will need to meet stricter criteria for approval.

You can usually apply for a home loan under the following circumstances:

Buying a home can seem like a daunting process — it just may be the most expensive and emotionally charged purchase of your life. But even during a pandemic, with careful research and determination, the keys to that dream home can be yours. We’ll help you along your path toward homeownership.

The Decision to Buy

Before taking the plunge into the buyer pool, it’s important to consider whether homeownership is right for you.

Rent vs. Buy?

When looking for a new place to live, the first question you ask yourself will help drive the rest of your decision-making. Should you rent or buy? Buying may seem appealing because you will put an end to escalating rent and can build equity. But the reality of routine home maintenance and repairs can quickly drain a bank account.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and heres how we make money.

When youre deciding whether youre financially ready to buy a house, its important to account for both the upfront costs of home buying and the expenses youll need to budget for after closing. Saving up for initial costs like the down payment is pretty major, but your bank account will need to be braced for the bills youll pay every month — plus unexpected expenses that, as a homeowner, are your responsibility.

If youre thinking about becoming a homeowner, heres a rundown of the costs of buying a house.

When it comes to selling a house in Australia, there’s a lot more to consider beyond the fees for your estate agent. Costs can add up quickly; learning about the various expenses you’re likely to encounter is key to making the selling process as smooth and seamless as possible.

From marketing fees to tax deductions, you’ll find everything you need to know and vendor costs below so that you can forecast your likely expenditure and budget accordingly.

What are the Different Costs Involved in Selling a House in Australia?

Vendors face a multitude of costs during the sale of a house in Australia. We can summarize these as follows:

When you build a new home the base price that builders show on their websites does not determine how much your specific home will cost to be fully finished. If you are looking for this service, you need to shop for “turn-key” packages. In most cases you will be asked to pay for your home in accordance with a payment schedule.

Generally, in Australia the cost to build a house is between $1250-$1700 per square meter. This is for a standard project home without any high end finishes and other building costs.

However, if you are building a home and want a better idea of how much is needed to be budgeted, you must consider these unaccounted factors into your budget before you sign your contract to build your new home. I have split these into four components: site costs, pre-start costs, variations and finishing costs and will explain them in detail after quickly talking about provision sums and prime costs. If you are still unsure reach out to a building broker for help.