How to Buy a House in Australia: Step-by-Step Guide for 2025
Everything you need to know to buy your home with confidence.
Buying a house is a major milestone — and one of the biggest financial decisions you’ll make in your life. Whether you're a first-time buyer or upgrading to a new place, understanding the steps involved can take the stress out of the process and help you move forward with confidence.
At AMI Home Loans, we help Australians every day to secure the right finance, navigate the process, and make smart property decisions. Here’s a simple step-by-step guide on how to buy a house in Australia:
1. Get Your Finances in Order
Before you start house-hunting, take stock of your financial position. You'll need to consider:
Your savings and deposit (usually at least 5–20% of the property price)
Your income and expenses
Any existing debts
Your borrowing capacity (we can help you calculate this)
Bonus Tip: The larger your deposit, the better your loan options — and you may avoid Lenders Mortgage Insurance (LMI).
2. Get Pre-Approved for a Home Loan
A loan pre-approval (also called conditional approval) gives you a clear idea of how much you can borrow and shows real estate agents and sellers that you're a serious buyer. It’s not a guarantee, but it puts you in a stronger position when making an offer.
We’ll compare lenders and handle the paperwork for you — at no cost.
3. Start House-Hunting
Now the fun begins. Research areas that suit your lifestyle and budget. You can look at:
Online listings (Realestate.com.au, Domain)
Local auctions
Off-market opportunities via buyer’s agents or local agents
Keep in mind:
The asking price is just a guide.
Consider costs like stamp duty, council rates, and potential renovations.
4. Do Your Due Diligence
Once you’ve found a place you love:
Arrange a building and pest inspection (for houses)
Order a strata report (for apartments or townhouses)
Review the contract of sale with a solicitor or conveyancer
This is a critical step — don’t skip it.
5. Make an Offer (or Bid at Auction)
Private Sale: You submit an offer through the agent. Negotiations may follow.
Auction: You’ll need to bid on auction day — if you win, the contract is unconditional.
Tip: You’ll need pre-approval in place before attending an auction, because there's no cooling-off period.
6. Sign the Contract & Pay the Deposit
Once your offer is accepted (or you win an auction), you’ll sign the contract of sale and pay a deposit (usually 5–10%). Your solicitor/conveyancer will handle the legal process.
7. Finalise Your Home Loan
We’ll work with your chosen lender to get your home loan formally approved, complete valuation checks, and get your loan documents ready to sign.
8. Settle & Move In
Settlement typically takes 4–6 weeks. On settlement day, your lender transfers the funds to the seller, the property becomes yours — and you get the keys to your new home!
Need Help? That’s What We’re Here For.
At AMI Home Loans, we’re more than mortgage brokers — we’re your partners throughout the entire process. We’ll:
Help you understand your borrowing power
Find and compare the right loan
Support you from pre-approval through to settlement
And yes — our service is completely free