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The Victorian First Home Buyer Guide

Everything a first home buyer in Victoria needs, from saving to settlement.

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Chapter 1. Starting Out: Mindset and Reality Check

The whole path, stage by stage

8 chapters written for first home buyer in Victoria. Read them in order or jump to the stage you are in.

Start here

Get your bearings before anything else.

Chapter 1Starting Out: Mindset and Reality CheckWhat buying in Victoria actually involves, and an honest look at where you stand today.

The money

Deposit, borrowing, duty and the real cost.

Chapter 2Saving and BudgetingBuild a savings plan that survives real life, and know what the deposit has to cover.Chapter 3Victorian Government Schemes and ConcessionsGrants, stamp duty concessions and the schemes Victorian first home buyers can use.Chapter 4Getting Finance ReadyPre approval, borrowing power, lenders mortgage insurance and getting your paperwork straight.

Search and inspect

Finding the right place and checking it properly.

Chapter 5Searching and Evaluating Property in VictoriaHow to search, read a price guide, inspect properly and compare places fairly.

Offers and auctions

Negotiating and bidding without losing your head.

Chapter 6Making an Offer and NegotiatingOffers, auctions, negotiation and the conditions worth keeping in the contract.

Contracts and settlement

The paperwork and the handover.

Chapter 7Settlement and Moving InThe contract, the section 32, settlement day and moving in without surprises.

After you move

Living with the decision and what comes next.

Chapter 8Beyond SettlementYour first year as an owner: repayments, insurance, maintenance and what comes next.

Tools that match this situation

Deposit estimator

Work through deposit, stamp duty and the upfront costs on a target price.

Savings planner

Map a monthly savings rate against the deposit you are aiming for.

Stamp duty and upfront costs

Victorian duty with first home concessions and foreign purchaser additional duty, plus the other costs on settlement day.

Also free, no account needed

Readiness quiz

Fifteen questions scored for your situation.

Resource library

Official Victorian and federal sources, plus checklists.

Glossary

Every term explained in plain English.

Other situations

Next home or upgradingSelling one home and buying another, often at the same time.DownsizingMoving to something smaller, simpler or easier to look after.InvestorBuying to rent out, with yield, growth and tax in mind.Buying land or buildingChoosing a block, picking a builder and managing a build.Relocating to VictoriaBuying in Victoria from interstate or overseas.