Buying a property is an exciting milestone, but it can also bring moments of stress and uncertainty. This guide is designed to enhance the thrill of the process while minimising any challenges you may face. With our expert insights and tips, you’ll be well-equipped to make informed decisions every step of the way.

Step 1: Planning the Search—Lists are Key
Starting your property search is a fun experience—pouring over listings, attending open homes, and imagining yourself in a new space. But as weekends go by, it can get overwhelming. To stay focused and avoid frustration, we recommend a systematic, list-based approach. Here’s how to get started:

List 1: What Do You Want in Your New Home?
Begin by dreaming big. Write down everything you might want in your ideal home, from the number of bedrooms to the size of the backyard, proximity to schools, or architectural style. Let yourself brainstorm freely over a few days or weeks.

Once you’ve got a comprehensive list, it’s time to trim it down. Focus on the essentials and cross off anything outside your budget. While this can feel like a harsh reality check, it’s an essential step toward achieving your goal.

List 3: The Open Home Circuit
Now that you know what you’re looking for, it’s time to hit the open homes. Some buyers prefer a laid-back approach—circling a few properties in the paper and heading out without a strict plan. Others go for maximum efficiency, mapping out their day with a detailed schedule, noting times, addresses, and property details. The choice is yours, but keeping track of what you’ve seen can help later when it’s time to compare properties.

Create a sheet or spreadsheet where you can record important information for each property:

• Asking price
• Number of bedrooms and bathrooms
• Size of the house and section
• Construction materials and age
• Renovations or repairs needed

This will help you keep track of the pros and cons of each home as you narrow down your options.

List 4: Questions for the Property Consultant
When you find a property that grabs your attention, it's time to dive deeper. Ask the property consultant any questions that come to mind. Their job is to help clarify details about the property. Typical questions might include:

• Has the house been on the market long?
• Why are the current owners selling?
• Are there any known issues or repairs needed?
• Is the property fully compliant with council regulations?
• What are the rates and other ongoing costs?

The more information you gather, the better equipped you’ll be to make an informed decision.

Step 3: Securing the Property—Going Unconditional and Settlement

Going Unconditional
Going unconditional is a key milestone in the buying process. Once all conditions are satisfied, the sale becomes official, and the deposit (usually 10% of the purchase price) is due. This deposit is held in a trust account by the real estate company for 10 working days before being transferred to the vendors solicitor.

What Happens Between Going Unconditional and Settlement?
After going unconditional, you enter the final phase before ownership—settlement. This period could be anywhere from one month to six weeks, allowing both you and the vendor time to finalise your moving arrangements. During this time, your lawyer will guide you through any remaining legal obligations, such as transferring funds and finalising ownership documents.

Step 4: Settlement Day—It’s Yours!
On settlement day, once the remaining balance is transferred, you officially become the owner of your new property. You can collect the keys, and that’s when the excitement truly begins. Whether it’s a home, section, farm, or commercial building, your new property will feel different the moment you step inside as its owner.

Now’s the time to enjoy the moment and start planning your housewarming party!

For futher information on the Buying process please check ot the REAA's Buyer's Guide below.