Contact Consumer Protection
Tel: 1300 30 40 54
See all Consumer Protection office locations
Buying a property is a major investment. Getting your first home can be both exciting and stressful. It is a major decision that takes planning and research, and careful budgeting.
Know what you want and can afford
Make a list of:
Knowing what you want will help you avoid buying a property that does not meet your needs.
Carefully assess your financial situation and desired standard of living when deciding how much you can afford to repay.
Take into account:
Consider the costs of buying a property, including:
Also consider ongoing costs of property ownership, including:
Check for any concessions you may be eligible for, such as:
When getting a home loan (or mortgage):
You can find budget tools and information about home loans and mortgages on the Australian Securities and Investments Commission’s consumer website - MoneySmart.
Learn as much as possible about every aspect of the property buying and selling process, and the products and services offered by:
Shop around and compare products and services.
Research the market value of property in your preferred areas by:
Never be pressured into making hasty decisions.
Make sure you are committing to the right property for you. The property inspection checklist may be helpful in comparing properties.
You will feel more confident about your investment if you make an informed decision.
You may come across different types of contracts, including loan contracts and contracts of sale.
Read and understand the document before you sign. Make sure you understand all terms, conditions and fine print. If something is unclear, ask for an explanation. If you are still uncertain, seek independent advice before signing.
Ask for any verbal agreement in writing, so you know exactly what you will get and what you are committing to.
Keep a copy of all documents you have signed.
Many terms and conditions with sellers, agents, lenders, legal practitioners and conveyancers are negotiable.
There is a six-star energy efficiency environmental standard for all new homes, and for renovations, additions and relocations of existing homes.
A house built to a 6 star standard will use about 20 to 25% less energy to heat and cool when compared to a similar sized 5 star house.
This will reduce your energy bills and will reduce the burden on the State's energy infrastructure. It will also help reduce carbon emissions and free up household finances for other uses.
If you intend to install a renewable energy system, you can expect it to meet more of your household energy needs in a 6 star house, as the house will use less energy for heating and cooling, and this will reduce your electricity bills even further.
To find out more see the Building Commission website.
Make sure you have:
Clever scammers have pretended to be both sellers and buyers and have walked away with thousands. Make sure you are aware of their tactics to prevent yourself losing your home. Read more on our property scams page.
There have been a few cases of houses being used as clandestine drug laboratories. If an agent is aware of a property’s previous use as a drug laboratory, they must take due care in ascertaining and declaring material facts because it may affect a prospective buyer decision to buy the property.