Buying Property
Your Guide to Buying Property
Whether you're purchasing an established home or buying off the plan, we'll walk you through every step of the process — so you can buy with confidence.
Established Home
Buying an Established Home
Purchasing an existing property is one of the most significant financial decisions you'll make. Here's a clear roadmap of what to expect from start to settlement.
Get Your Finances in Order
Before you start inspecting properties, speak with your bank or mortgage broker to understand your borrowing capacity and get pre-approval. Knowing your budget upfront means you can act quickly when the right property comes along — and negotiate from a position of strength.
Find the Right Property
Search online listings, attend open homes and work with your agent to identify properties that meet your criteria. Consider location, proximity to schools and transport, future growth potential and the condition of the property. Take your time — this is a major decision.
Engage a Solicitor or Conveyancer
Before signing anything, engage a solicitor or conveyancer to review the contract of sale. They'll check for any encumbrances, easements or special conditions and advise you on your rights and obligations. Never sign a contract without legal advice.
Make an Offer and Sign the Contract
Once you've found the right property, make a formal offer through the agent. If accepted, you'll sign the contract and pay an initial holding deposit — typically 0.25% of the purchase price — to secure the property while the contract is being exchanged.
Exchange Contracts
Exchange occurs when both parties have signed identical copies of the contract and the deposits are swapped. This is the point of legal commitment. In NSW, the buyer has a 5-business-day cooling-off period after exchange, during which you can withdraw by forfeiting 0.25% of the purchase price.
Building and Pest Inspection
Arrange a professional building and pest inspection as soon as possible after exchange. This gives you a clear picture of the property's condition and any issues that may need attention. Your solicitor can advise whether any findings affect the contract.
Formal Finance Approval
Your lender will arrange a property valuation to confirm the purchase price reflects market value. Once satisfied, they'll issue formal (unconditional) loan approval. Keep in close contact with your broker or bank during this period to avoid delays.
Pay the Balance of Deposit
Before your cooling-off period expires, you'll need to pay the balance of the deposit — typically bringing the total to 10% of the purchase price. Your solicitor will advise you on the exact amount and timing.
Pre-Settlement Inspection
In the 24 hours before settlement, you're entitled to carry out a final inspection of the property. Check that it's in the same condition as when you exchanged, that all inclusions are present and that any agreed repairs have been completed.
Settlement Day
On settlement day, your solicitor and lender coordinate the transfer of funds and title with the vendor's team. Once complete, the property is legally yours. Your agent will contact you to arrange key collection — congratulations, you're a homeowner!
Off the Plan
Buying Off the Plan
House & Land, Apartments and Townhouses
Buying off the plan means purchasing a property before construction is complete. It's an increasingly popular path for both owner-occupiers and investors — and for good reason.
What Does Buying Off the Plan Mean?
When you buy off the plan, you enter into a contract with the developer before or during the construction phase. You pay a deposit to secure your new home, with the balance due on completion. The purchase price is locked in at the time of signing — meaning if the market rises during construction, you could be ahead before you even move in.
Key Benefits
Price Locked In Now
You agree on a price today and don't pay the balance until the property is complete. If values rise during construction, you benefit from that growth.
Stamp Duty Savings
Buyers of new properties often receive significant stamp duty concessions or exemptions, particularly first home buyers. Government grants may also be available.
Time to Save
The construction period gives you additional time to save and organise your finances before the balance is due at settlement.
Depreciation Benefits
New properties attract significant tax depreciation deductions for investors. A depreciation schedule can meaningfully improve your after-tax cash flow from day one.
The Process
Research the Developer and Project
Choose an established developer with a proven track record of delivering projects on time and to specification. Visit display homes or display suites, review the plans and inclusions carefully, and research the location and surrounding community.
Get Finance Pre-Approval
Speak with your bank or broker early. Finance for off-the-plan purchases can be more complex than for established homes — lenders will want to assess the developer's credentials and the project timeline. Pre-approval gives you confidence to proceed.
Review the Contract of Sale
Have your solicitor or conveyancer review the contract thoroughly before signing. Pay close attention to the sunset clause (the date by which the developer must complete the project), what happens if the project is delayed, and what inclusions are guaranteed.
Pay Your Deposit
Once contracts are exchanged, you'll pay a deposit — typically 10% of the purchase price. For house and land packages, there are usually two contracts: one for the land and one for the construction. Your solicitor will guide you through both.
Construction Phase
During construction you'll receive progress updates from the developer. For house and land packages, you may be required to make progress payments at key construction milestones (slab, frame, lock-up, fixing, completion). Your lender will manage these drawdowns.
Pre-Completion Inspection
Before settlement, you'll have the opportunity to inspect the completed property and note any defects or items that don't match the contract specifications. These should be documented and addressed by the developer before or shortly after settlement.
Settlement and Key Handover
At settlement, the balance of the purchase price is paid and the title transfers to you. For apartments and townhouses, this typically happens in one transaction. For house and land packages, land settlement and construction completion are separate events. Congratulations — your new home is ready!
Save More
Tax Year After Year
New properties attract the highest depreciation deductions — don't leave money on the table.
For Investors
Maximise Your Investment with a Depreciation Report
If you're purchasing a new build as an investment, a tax depreciation schedule is one of the most valuable documents you can obtain. It identifies every depreciable asset in the property — from the structure itself to fixtures and fittings — and quantifies the deductions you can claim each financial year. For new properties, these deductions can be substantial and significantly improve your after-tax return. We've partnered with Duo Tax, a specialist quantity surveying firm, to make it easy for our clients to get started.
Get a Free Depreciation Assessment* We may receive a referral fee from Duo Tax when you use this link. This does not affect the service or pricing you receive.
Finance
Need Finance? We Can Help Connect You.
Whether you're looking to work with your existing bank or would like an introduction to a trusted mortgage broker, our team can point you in the right direction. Getting the right finance structure in place before you buy can save you thousands over the life of your loan — and make the whole process far less stressful.
Talk to Us About FinanceReady to Start Your Property Search?
Our team works across NSW, QLD, WA, VIC and SA. Whether you're buying your first home, upgrading or investing, we're here to guide you every step of the way.