7 smart steps before you start house hunting

1. Find out your borrowing capacity

Before falling in love with a property, speak to a mortgage broker to get a clear idea of how much you can borrow. Unlike going directly to a bank, a broker can compare multiple lenders to find you a better deal — and give you more options.

Tip: Don’t assume one lender's answer is the same across the board. Different banks have different criteria.

2. Create a Budget Plan

A solid budget helps you feel in control of your finances and sets you up for long-term success. If you haven’t done one recently, now’s the time. You can download our free budget planner — it’s quick and easy to use (available in both Excel and PDF formats).

3. Calculate your home loan repayments

Once you know your borrowing range, use a mortgage calculator to estimate your repayments. This helps you avoid biting off more than you can chew and sets a realistic price range when house hunting.

4. Needs vs. wants

Sure, we’d all love a huge kitchen and a pool, but prioritising the essentials — like location, number of bedrooms, or school zones — helps you stay focused and flexible. The perfect home might just be the one you never expected.

5. Check your government grant eligibility

Depending on your situation, you could qualify for thousands in savings with the First Home Owners Grant, Home Guarantee Scheme, or other government programs. These can reduce your upfront costs and make buying a home more achievable.

6. Understand your deposit

The size of your deposit plays a big role in how much you can borrow. Whether it’s $5,000 or more, a broker can help determine how far your deposit can stretch — and whether a new or established home makes a difference.

Try our Deposit Checker to see just how low your deposit can go.

7. Surround yourself with the right mentors

Good advice is gold. Lean on property professionals who understand the local market and have experience in real estate — not just friends with opinions. This is your journey, so surround yourself with people who support your goals.

Final Thoughts

The key to home buying success? Preparation.

When you take the time to understand your finances, know your options, and stay open-minded, you'll move forward with confidence and clarity. And if you ever need a hand — we're here to help.