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Things to consider

Legal advice

While you can act on your own behalf when purchasing property, the documentation and settlement process can be quite complicated and includes many legal requirements. We strongly recommend you use the services of a solicitor or conveyancer. These experts will ensure that everything runs smoothly and is completed correctly.

Take a good look

When you’ve found a home you like, give it a thorough inspection before committing to purchase. It’s a good idea to inspect the property a number of times at different times of the day. If you can, visit on a rainy day to check for leaks in the walls or guttering problems. Look under carpet and rugs to see the state of the floor beneath. Also check on the other side of bathroom walls for water damage and take a good look around for cracks or signs of movement on ceilings and walls.

Arrange a professional inspection

Organise a building and pest inspection. While they’ll cost a little upfront, inspections by trained professionals could help you avoid much higher costs in future.

Know what you want

Work out a list of what you want (and don’t want) from the house you buy to work through when you inspect properties. This will help you decide on must-have and nice-to-have features which could help when weighing up one house against another.


You may need to consider two types of insurance when buying your first home; home insurance and Lenders Mortgage Insurance (LMI).

  • Home insurance (also home and contents insurance) is compulsory for any loan to be approved. Look for policies that provide free cover from when you sign the contract up until the day you move in.
  • LMI is offered by an external provider and enables you to buy a home with less than a 20% deposit. An up-front fee (or premium) paid to the external provider insures your lender against default on your home loan.

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Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.
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