Buying a Property

Buying the right property for you 

What are your requirements?

Before you start looking for a property it’s a good idea to clear on your essential requirements and also what you would consider ‘nice to have’. You might want to consider:

  • Will you live in the property, rent it out, renovate or knock down to rebuild
  • What area or suburb(s) do you want to buy in?
  • Do you prefer a house, duplex, terrace, semi, apartment, unit or townhouse?
  • How many bedrooms and bathrooms will you need?
  • What are your storage requirements eg. Kitchen, linen, shed, tools, wardrobes?
  • Do you need car parking or a garage?
  • Do you want a garden, courtyard or balcony?
  • Would you like a pool or the provision to install one?
  • Do you need to be near public transport, shops, schools and/or work?
  • Do you have any special needs, for example, level access, room for a home office?
  • Are you prepared to repair or upgrade if required?

Your requirements may change during your search. This is normal as you may find things that you definitely do or don’t want in a property. Be prepared to change what you require as you gain a realistic picture of the property market.

Determine your budget

What are you able to pay? Is this realistic considering what you want? When researching properties that meet your requirements take note of the sale price and the auction results to ensure your budget is realistic

Organise your finances and decide if you will require finance from a home loan or the sale of your own property before making offers on properties you wish to purchase. Determine what you can afford.

Get home loan approval from your bank or lender before you make an offer. Some finance providers will not give final approval until they have seen the Contract for Sale of the property and obtained property details.

Produce a list of costs. Ensure you allow for additional costs such as stamp duty on the contract, mortgage stamp duty and solicitor’s or conveyancer’s fees. Building & pest inspections and quotes from builders for renovations or new builds may also be required. Other hidden costs may include: renovation, repair costs, moving fees, insurance and adjustments to rates and levies on settlement.

Get Legal representation

Find a solicitor or conveyancer to assist you with reporting requirements, title deeds, reviewing contracts and preparing for settlement day. Get estimates on what they charge and check if fees include title searches, photocopying and other searches. The Law Society of NSW can provide a list of solicitors for your area. Conveyancers specialise in conveyancing and must be licensed by the Department of Fair Trading. You can contact the Conveyancing Society of NSW.

Start looking!

Take your time and do your research on the neighbourhood, recent sales and with council for any building or development applications.

You may need to look at a number of properties over weeks and months, especially on weekends. Look at local and metropolitan newspapers as well as relevant websites. Set aside enough time to look at properties. Sometimes it helps to take a friend along with you. Take notes when you look at properties. It’s easy to forget important details after looking at a number of properties.

Contact us and let us know what you are looking for as we can recommend properties that are about to go on the market before anyone has seen them.

You’ll probably look at many properties before you decide to buy. When viewing properties, ask lots of questions about things you are unsure of. Purchasing a property is a big investment and you should be confident you’re making the right decision.

Search for properties

Buying Process

Refer to the Buying Process for all the steps involved in buying a property. Good luck!