5 tips for first-home buyers

Posted 20 January, 2026 Jeremy Rochow

Buying a new home is an exciting, and somewhat overwhelming experience. You’ve researched suburbs and you’re about to spend your weekends house hunting, but are you ready to take the plunge and purchase your first home?

Here are five things to consider before you enter the property market.

1. Set a budget

Before you step inside an open house, it’s a good idea to set a budget and if possible, have your loan pre-approved. It will save you time and keep your goals realistic, and you’ll be able to make an offer knowing what you can and can’t afford.

When setting your budget, consider more than just the price of the house. Consider interest rate increases, the bills associated with owning a home, council rates and even the cost of house maintenance.

Will you need to renovate the bathroom or kitchen in the near future? Can you afford dinners out or weekends away on top of monthly repayments? These are just some of the questions you should ask when setting your budget.

2. Create a list of must-haves

What are you looking for in a home? Do you need two bathrooms or is one enough? Maybe you want a large backyard or just a courtyard.

Consider if you need a double garage or maybe one is enough. Whatever you’re looking for in a home, create a definite list of the features your property must have. Take the list with you when searching for homes so you don’t get swept away with unnecessary features and renovations you don’t really need.

3. Choose your location carefully

You probably have a location in mind but it’s crucial to consider what’s personally important to you when choosing where to put down roots. Is it close to public transport?

Are you close to shops? If you have kids, or might in the future, what schools are you zoned for? These are considerations you might want to take into account when house hunting.

4. Get a building inspection

You’ve found your dream home, and your offer has been accepted. Before you sign the contract, you’ll want to know if there are any major faults. It’s wise to organise a building inspection by a reputable builder. They can check for a range of faults and potentially save you thousands of dollars down the track.

For older houses, consider getting separate inspections by skilled tradespeople, such as electricians, plumbers and even carpenters. Lastly, don’t forget to get a pest inspection.

5. Organise insurance

Before you sign the purchase contract, you may need to organise insurance. Premiums for home and contents insurance may vary depending on several factors, including location, building materials and even if you have a security system installed. Not all insurance policies are the same, so consider inclusions and exclusions.

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Allianz South Australia Insurance Limited ABN 14 007 872 602 AFSL 232525 (Allianz SA) is the insurer and Royal Automobile Association of South Australia Limited ACN 677 371 274 (RAA) issues this under binder from Allianz SA. RAA do not provide any advice based on any consideration of your objectives, financial situation or needs. Policy terms, conditions, limits, exclusions, and underwriting criteria apply. Before making a decision about this insurance, please consider the Product Disclosure Statement (PDS) and Supplementary PDS (if applicable). The PDS and Target Market Determination (TMD) are available on our website.