Stages Of Buying A House...

1. Identify your goal- The first question you need to ask yourself is why are you buying? Are you buying for investment purposes or living purposes? Are you looking to buy established or new? Maybe you want to live in an apartment rather than a house.

2. Save your deposit- Once you know what it is you want out of home ownership, you will know how much you need to save for a deposit. Generally speaking, most banks require between a five and 20 per cent deposit, but this depends on a range of factors. The earlier you start saving the quicker it will be to get your finances sorted, getting you one step closer to buying your home. Ensure to keep in mind all of the extra costs that come with buying a house, like stamp duty, building inspections, conveyancing fees etc.

3. Find the right home loan for you - By this stage, you should have figured out your budget and what type of property you can afford. Now it is time to start searching for a home loan.

4. Research the market - You should apply this stage from the beginning of your journey. Try and research the current market conditions as much as you can. Figure out when it is a good time to buy to ensure you get the best possible deal.

5. Begin your search- Finally, you can begin searching for the property you want to buy. Attend as many home opens as you can so you can get a feel for what you like.

6. Making an offer - When you find a property your interested in, have done all the inspections and it ticks all the boxes, it's time to make an offer.

7. Follow the settlement process - You are coming up to the finish line when you reach the settlement process – the legal transformation of home ownership!

8. Move in- Lastly, it's time to move into your new home

Source: reiwa.com.au