First Home Buyer Checklist
15 things every Perth first home buyer should do before applying for a loan.
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The 15 steps at a glance
Work out your budget
Know what you can afford before you fall in love with a property.
Check your credit score
Request a free copy from Equifax or illion. Fix issues before applying.
Save your deposit
5–20% of purchase price. Understand LMI if under 20%.
Check the Home Guarantee Scheme
Buy with 5% deposit and no LMI if eligible.
Check FHOG eligibility
Building or buying new in WA? You could get $10,000.
Understand stamp duty
WA first home buyers get concessions. Know what you'll pay.
Talk to a mortgage broker
Free advice, wide lender panel. Don't just walk into your bank.
Get pre-approved
A fully-assessed pre-approval gives you a budget and shows sellers you're serious.
Engage a conveyancer
Find a WA settlement agent before you make an offer.
Find a property
Stick to budget. Factor in costs beyond the purchase price.
Building & pest inspection
Non-negotiable. $400–600 and can save you tens of thousands.
Make an offer or bid
Private treaty or auction. Your broker advises on finance clauses.
Formal loan application
Broker submits to lender. Lender orders valuation.
Unconditional approval
All conditions met. Settlement date is set.
Settlement & keys!
Funds transfer, title moves to your name, keys in hand.