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How to buy a home in NSW?

Buying a new home can be both exciting and nerve wracking but doing this in a new country can add soe extra challenges. Here are some tips:

  • Decide on what style of housing you are looking for and where you want to live. Check out our Where to Live section to get you started.
  • Research the market – there are a number of tools available which allows you to check recent sales in the area, and research expected future economic trends. When you are looking for properties check out, or Mandarin speakers may prefer to use Also try and . Websites such as have suburb profiles and recent sales reports. Local estate agents will also have this information so you can price compare.
  • Know the need  finance to complete your purchase?
  • Are you eligible to purchase property in Australia?

What is the process involved in buying property in Australia?

Make Sure you are you eligible to purchase property in Australia? As a non-permanent resident there may be restrictions around your ability to purchase property. The Foreign Investment Review Board of Australia processes all applications for non-permanent residents

For further information please refer to:

Preparing a budget and assessing your financial position. If you neede finance for your purchase there are a plenty of financing options available. The home loan market in Australia is quite competitive so you have a variety of  different lenders with good product options. Although  competition is healthy for the consumer, locating the best deal can often be complicated and takes time!. Every lender's credit policy differs when lending to non-permanent residents. An accredited Mortgage Broker will have plenty of  lender and product options which saves you time and money since they find you the correct loan from multiplf options. They will give you a number of different aletrnatives outlining all the costs and terms associated

Engaging a solicitor/conveyancer - When you decide to purchase your new home it is suggested that you engage a solicitor/conveyancer in NSW to guide you through all the legalities of your purchase. You can use FindLaw directory to begin your search.


A few handy hints:

1.       Deposit – most lenders will require you to have a minimum deposit of 20% of the purchase price. Some lenders do provide products that allow for a smaller deposit however this will depend on your individual circumstances.

2.       Pre-approval – finance pre-approval allows you to bid at auction and submit offers with confidence knowing that your finance has been conditionally approved.  Pre-approval are generally valid for 3 months while you search for your new home. Would you like to apply for a pre-approval?

3.       Required documentation – This will vary from lender to lender however generally speaking you will be required to provide ID, evidence of income, and details around your current financial position.

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Know the costs involved in purchasing a home in Australia

- There are a number of costs involved when purchasing property, as well as before and after you buy. These are some costs which you can expect to pay:

  • Stamp Duty of Transfer – this will vary depending on which state you. Use the Office of State Revenue calculator here - See more here
  • Building and Pest Reports – it is highly recommended that building a pest reports be obtained
  • Legal and conveyancing costs
  • Financing costs – this will vary from lender to lender
  • Home and contents insurance
  • Moving costs and utilities
  • Ongoing council rates
  • Ongoing body corporate/strata fees – these are generally payable when purchasing apartments and units

NSW First Home Owners Grant. If you are a permanent resident who is buying a new home, you may be able to get a first home owner’s grant. If the value of the new home purchased is not ore than  $750,000 then the grant is $10,000.


Making an offer – there are two main methods of purchasing property in Australia

1.       Auction – properties are usually sold by auction when demand is high. If you are the successful bidder you will be required to immediately pay a 10% deposit and the contract will be unconditional as such before going to auction it would be advisable to ensure you are in a position to settle on the purchase.

2.       Private Treaty – is when a property is offered for sale at a negotiated price. The normal practice is for the vendor (the current owner of the property) to set the price and you negotiate with them until a mutually agreeable price is reached. The terms of the contract can vary however in NSW  is generally accepted that a 10% deposit is required on exchange of the contract with a 42 day settlement period.

Contract of sale – the contract of sale is generally prepared by the agent or the vendor’s solicitor. Ensure that you have your solicitor/convenyancer review the Contract of Sale before you sign anything.

Settlement Process – once unconditional on the purchase your solicitor/conveyancer will handle most pre-settlement conditions and will liase with all relevant stakeholders.

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