Buying your first home


Buying your first home is one of the proudest achievements in life. But before you get the keys to your new home, there are a lot of elements you need to consider.
Our guide below will help you make your first property purchase with confidence. 

Your guide to buying your first home

We've designed a guide to walk you through every step of the process from saving your deposit to closing the deal, so you can make your first property purchase with confidence - we hope you enjoy the read.


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A guide to buying your first home with Frasers Property

Step 1: Set your budget

Have you saved enough for a 10% deposit of the purchase price or do you need to work out a savings plan? Speak with a finance expert to determine how much you can borrow to finance your purchase and obtain pre-approval.

Step 2: Select your preferred home

Be one of the first! As an early purchaser, you will have greater opportunity to choose a home that meets your criteria in relation to position, aspect, floor plan and price. Decide what you want:

  • How many bedrooms do you need?
  • How many bathrooms?
  • If buying an apartment, do you want ground floor with a courtyard, or a higher level with a balcony and potential view?
  • Which floor plan layout do you like?
  • Any other considerations to meet your needs and preferences?

Step 3: Reserve your home

Once you have selected your home of choice, to initially take the property off the market for 10 days all you need to do is pay a non-refundable reservation administration fee. This is usually $500, but can differ across each state so the Project Sales Manager will confirm this amount for you.

Step 4: Finalise your contract

Finalise your contract by sending it to your solicitor for review. Once you have received legal advice you may sign the contract with your solicitor and a witness. From the contract date, you will have 10 days to pay the balance of the 10% deposit. 

Step 5: Construction in progress 

Keep yourself updated on your new home during its construction. Our Care Team will send you monthly updates on the progress of your new home.

Step 6: Pre-settlement of your home

Once your home is complete, you'll be invited to a pre-settlement inspection and if all is ok you can instruct the solicitors to proceed with the settlement of your new home or apartment.

Step 7: Settlement of your home

Arrange settlement and transfer of the balance of the purchase price. Then you move in!