# First Home Buyer Checklist: E...

Source: https://notesgarden.com/publish/MHN5Bf2ImPeN

## 💰 Financial Preparation

- [ ] Calculate your total savings and separate what is available as a deposit from your emergency fund.
- [ ] Check your credit score and address any errors or overdue accounts before applying for a mortgage.
- [ ] Research first home buyer grants, stamp duty concessions, or government schemes available in your state or country.
- [ ] Calculate the true cost of buying: deposit, stamp duty, legal fees, inspection fees, moving costs, and upfront repairs.
- [ ] Avoid taking on new debts, changing jobs, or making large purchases in the months before applying for a mortgage.
- [ ] Build a monthly budget that includes mortgage repayments, council rates, body corporate fees if applicable, insurance, and maintenance.
- [ ] Compare home loan interest rates, offset accounts, redraw facilities, and fixed versus variable options across at least three lenders.
- [ ] Get pre-approval in writing before making any offers. Pre-approval confirms your borrowing capacity and strengthens your position.

## 🔍 Property Search

- [ ] Define your non-negotiable criteria: number of bedrooms, proximity to work or school, and maximum commute time.
- [ ] Separate must-haves from nice-to-haves so you can make faster decisions when properties come up.
- [ ] Research median prices in your target suburbs over the past 12 months to understand real market value.
- [ ] Visit properties in person even if you have already seen them online. Photos routinely flatter and conceal.
- [ ] Attend open homes at different times of day to observe traffic noise, natural light, and street activity.
- [ ] Check the proximity of the property to flood zones, bushfire overlays, or flight paths using council or government mapping tools.
- [ ] Research planned infrastructure, zoning changes, or development applications near the property that could affect amenity or value.
- [ ] Walk around the neighbourhood at different times, including evening, to get a realistic sense of safety and atmosphere.

## 🔎 Due Diligence & Inspections

- [ ] Hire a qualified building inspector before making an unconditional offer. Never skip this step to save money.
- [ ] Hire a pest and termite inspector separately from the building inspector unless the same firm covers both.
- [ ] Read the full building and pest report yourself rather than relying on a summary. Understand what is major versus minor.
- [ ] For strata or apartment properties, review at least two years of strata meeting minutes to identify known issues or disputes.
- [ ] Check the strata levy amount, the sinking fund balance, and whether any major works are planned.
- [ ] Ask the agent directly: why is the vendor selling, how long has it been on the market, and have there been any previous offers.
- [ ] Verify that the property boundaries match the title and that there are no encroachments, easements, or caveats that concern you.

## 📝 Making an Offer & Contract

- [ ] Have your conveyancer or solicitor review the contract of sale before you sign anything.
- [ ] Include a finance condition in your offer if your pre-approval is not yet unconditional.
- [ ] Include a building and pest inspection condition unless you have already completed it and are comfortable with the result.
- [ ] Negotiate repairs, inclusions, or a price reduction based on findings from the building report rather than walking away without trying.
- [ ] Confirm the settlement date and what fixtures and fittings are included in the sale.
- [ ] Understand the cooling-off period in your jurisdiction and what financial penalty applies if you withdraw within it.

## 🏦 Mortgage & Legal Process

- [ ] Submit your full mortgage application promptly once the offer is accepted to avoid delays at settlement.
- [ ] Respond to any lender requests for additional documents within 24 to 48 hours.
- [ ] Arrange building insurance to take effect from the date of exchange, not settlement.
- [ ] Arrange a final inspection of the property within 24 to 48 hours of settlement to confirm its condition.
- [ ] Confirm settlement date, time, and transfer amount with your conveyancer and make sure funds are in place the day before.
- [ ] Confirm key handover arrangements with the agent for settlement day.

## 🔑 Moving In & First Weeks

- [ ] Change all locks on the property. Previous owners, agents, or tradespeople may still hold copies of keys.
- [ ] Take meter readings for electricity, gas, and water on day one and photograph them.
- [ ] Set up electricity, gas, internet, and water accounts in your name immediately after settlement.
- [ ] Test smoke alarms and carbon monoxide detectors and replace batteries.
- [ ] Locate the fuse box, water mains stopcock, and gas meter so you can act quickly in an emergency.
- [ ] Update your address with your bank, employer, electoral roll, Medicare or health providers, and any government departments.
- [ ] Introduce yourself to immediate neighbours. Good relationships with neighbours prevent most disputes before they start.
- [ ] Create a priority maintenance list based on what the building inspection flagged and get quotes in the first month.