What to look for before buying a property?

Check the property's structural condition, water damage, pest activity, title details, body corporate records (if applicable), and confirm all fixtures and inclusions are listed in the contract before you sign.

How much do you need to earn for a $700,000 mortgage?

Most lenders require a household income of roughly $150,000-$180,000 per year for a $700,000 loan, depending on your deposit, existing debts and the lender's serviceability assessment.

Is $40,000 enough for a house deposit?

It depends on the purchase price and loan type. Under standard lending, $40,000 typically suits properties in the low-to-mid $400,000s; low-deposit government schemes may allow a higher purchase price.

What are the biggest first-time home buyer mistakes?

Common mistakes include skipping a building and pest inspection, not reading the contract conditions, underestimating settlement costs, and signing before getting legal advice from a conveyancing solicitor.

What should you not tell your mortgage lender?

Never provide inaccurate income, employment or debt information. Lenders require full, honest disclosure; misrepresenting your financial position can affect loan approval and may constitute loan fraud.

What are red flags on a mortgage application?

Red flags include inconsistent income documentation, undisclosed debts, recent large unexplained deposits, and multiple recent credit applications, all of which can raise concerns during a lender's assessment.

What does a conveyancing solicitor do?

A conveyancing solicitor reviews your contract, conducts title and property searches, manages transfer duty, liaises with your lender, and coordinates settlement to legally protect your interests as a buyer.

Do I need a solicitor if I'm buying property before my divorce is finalised?

Yes. Property bought during separation can affect the family law property pool. Combined family law and conveyancing advice helps protect your interests and avoid disputes later.

Can I buy property using my superannuation?

In limited cases, yes, usually through a Self-Managed Super Fund, purchasing an investment property under strict borrowing rules. Specialist financial and legal advice is essential before proceeding.

What happens if I skip the building and pest inspection?

You risk buying a property with undisclosed structural damage or termite activity, which can cost tens of thousands of dollars to repair & may not be covered under the contract once settlement occurs.