First Home Buyer Checklist: Queensland

Queensland's standard contract of sale works a little differently to other states, building finance and inspection deadlines directly into the contract itself rather than relying on a separate cooling-off period for due diligence. This checklist walks through what a first home buyer needs to organise and when, whether you are buying in Brisbane, the Gold Coast, or elsewhere in the state, with support from a first home buyer conveyancing service.

Get Your Finances in Order

Speak with a lender or mortgage broker early and aim for pre-approval before you start inspecting properties seriously. Pre-approval gives you a realistic budget and means the finance clause in your contract, discussed below, is far less likely to become a genuine obstacle. It also puts you in a stronger negotiating position, since agents generally take a pre-approved buyer more seriously than someone still working through their borrowing capacity. If you are still building your deposit, MoneySmart's guide to saving for a house deposit is a useful place to start, and covers how lenders mortgage insurance affects buyers with a smaller deposit.

Understand the Finance and Inspection Clauses

The standard Queensland contract typically includes a finance clause and a building and pest inspection clause, each with its own deadline measured in business days from the contract date. If your finance is not approved, or the inspection turns up a significant issue, by the relevant deadline, you generally have the right to terminate the contract, subject to the exact wording agreed. Missing these deadlines without acting can mean losing the right to rely on them, so it is important to know exactly when each one falls and to keep your conveyancer updated on your finance progress as it happens. Diarise both dates the moment you sign, rather than trusting yourself to remember them a fortnight later, and let your conveyancer know immediately if either deadline looks like it will not be met so an extension can be requested formally in writing before the clause expires.

Check Your Eligibility for Grants and Concessions

Queensland offers assistance for eligible first home buyers, including transfer duty concessions and, in some circumstances, a first home owner grant for new homes, generally subject to value thresholds and residency conditions. Because these settings are reviewed periodically, confirm your current eligibility directly with the Queensland Revenue Office's transfer duty information rather than relying on general commentary, and raise any concession you expect to claim with your conveyancer early on.

Book Your Building and Pest Inspection Promptly

• Book your inspector as soon as the contract is signed, since the inspection deadline is often only 10 to 14 business days out.
• Use a licensed inspector who provides separate building and pest reports, or a combined report covering both clearly.
• Read the report in full rather than just the summary, since important detail is often in the body of the document.
• If a significant issue is found, contact your conveyancer immediately, well before the deadline, so there is time to negotiate or terminate properly.
• Ask the inspector about access to roof spaces and subfloor areas in advance, since some older Queensland homes on stumps need extra time to inspect properly.

Queensland's climate and building styles mean pest inspections carry particular weight here compared with some other states, with termites a genuine and common risk in many suburbs. A thorough pest report, and a clear understanding of any treatment history for the property, is worth the modest extra cost when weighed against the alternative of discovering damage after you have already settled.

Review the Contract and Title

Your conveyancer reviews the contract of sale and the title, checking for easements, covenants or caveats, confirming the schedule of inclusions matches what was advertised, and identifying any special conditions that need further explanation. This is also the time to confirm the deposit amount, the settlement date, and how the finance and inspection deadlines interact with your own moving timeline for the residential purchase. If you are buying a unit or townhouse, ask specifically about body corporate records and any special levies, since these are not always obvious from the listing itself and can affect ongoing costs.

Prepare for Settlement

As settlement approaches, your conveyancer coordinates with your lender, orders final searches, and prepares settlement figures including rates adjustments and any concession being applied. Most Queensland settlements are now completed electronically through PEXA, a process our guide to PEXA electronic settlement covers in more detail. Arrange a final inspection in the days before settlement to confirm the property matches the contract, and make sure your settlement documents are ready ahead of time to avoid a last-minute scramble. Confirm with your conveyancer exactly what time settlement is expected to occur, since this affects when you can collect keys and start moving your belongings in.

A Note on Grants, Concessions and Tax

Grant and concession eligibility depends on your specific circumstances, including value thresholds and residency requirements, and these settings change periodically. This article is general information rather than tax or legal advice, so confirm your exact position with your conveyancer or an accountant before relying on a particular concession applying to your purchase, and keep your paperwork on file in case any occupancy condition needs to be demonstrated later. If your plans change within the qualifying period, for instance if you need to move interstate for work or rent the property out sooner than expected, check whether that affects your eligibility before making the change rather than after.