First Home Buyer Checklist: Western Australia

Buying your first home in Western Australia involves a sequence of steps that are easy to underestimate if you have never been through the process before. Missing one, such as confirming grant eligibility before signing a contract, can be costly to unwind later. This checklist walks through the practical steps in roughly the order you will encounter them, from getting your finances organised to what happens after you collect the keys.

Sort Out Your Finance First

Before you start inspecting properties seriously, get a clear picture of what you can actually borrow. A conditional pre-approval from a lender, or through a mortgage broker, tells you your realistic price range and signals to agents and vendors that you are a genuine buyer. It is worth reviewing MoneySmart's guidance on using a mortgage broker if you are weighing up whether to go direct to a lender or use a broker to compare options.

• Get a conditional pre-approval rather than relying on an informal borrowing estimate.
• Confirm how much deposit you have and whether lenders mortgage insurance will apply.
• Ask your lender or broker about first home buyer loan products specific to WA lenders.
• Set aside a separate buffer for conveyancing fees, inspections and moving costs.

Check Your Eligibility for WA First Home Buyer Assistance

Western Australia offers grant and duty concession schemes for eligible first home buyers, but eligibility rules around property value thresholds, residency requirements and whether the property is new or established change over time. Rather than relying on what a friend or agent tells you, check current eligibility directly through WA's transfer duty information before you commit to a contract, since some concessions must be applied for before or at settlement rather than afterwards. If you are considering a first home buyer purchase in a regional area, the criteria can differ again, so confirm the detail for your specific property.

Research the Right Property and Location

Once your budget is confirmed, narrow down location based on commute, lifestyle and long-term resale appeal rather than just the asking price. If you are looking in and around Perth, compare suburbs on more than price alone, including proximity to transport, planned infrastructure and zoning that might affect future development nearby. Attend several open homes before making an offer so you have a realistic sense of value across the market you are buying into. It also helps to visit a shortlisted suburb at different times of day and on different days of the week, since traffic, noise and parking availability can look very different on a quiet Sunday morning compared with a weekday peak hour.

Engage a Conveyancer or Settlement Agent Early

In Western Australia, property transfers are typically handled by a licensed settlement agent or conveyancer rather than a solicitor, though both are regulated. Engaging one before you make an offer, not after, means someone can review a contract quickly if you find a property you want to act on fast. A residential purchase conveyancer will check the contract terms, run title and council searches, and flag anything unusual before you are locked in. Confirm your chosen practitioner is properly licensed through WA Consumer Protection's settlement agents register. It is also reasonable to ask a prospective conveyancer how they charge, what is included in their fee, and how quickly they typically turn around a contract review, so you know what to expect once you are ready to act on a property.

Arrange Building and Pest Inspections

Never waive a building inspection to make your offer more attractive unless you fully understand and accept the risk. A qualified inspector will identify structural issues, moisture problems, and pest activity that are not obvious on a walkthrough. If the report raises concerns, your conveyancer can help you understand whether they justify renegotiating price or walking away, particularly if the contract includes a finance or inspection condition. For older homes, it is also worth asking the inspector specifically about asbestos-containing materials, which remain common in properties built before the 1990s and can affect future renovation costs.

Review the Contract of Sale Carefully

Before signing anything, have your conveyancer review the contract of sale in full, including any special conditions the seller has added. Pay attention to the settlement date, deposit amount, and any conditions relating to finance approval or inspections. If you are buying off the plan, the contract will include additional clauses around construction timeframes and variations that deserve extra scrutiny. Ask your conveyancer to explain any clause you do not fully understand in plain terms before you sign, rather than assuming it is standard boilerplate, since what counts as a standard condition can vary between agents and vendors.

Prepare for Settlement Day

In the weeks leading up to settlement, your conveyancer will coordinate with your lender, conduct final searches, and prepare settlement figures including any rates and strata adjustments. Confirm your finance is fully approved well ahead of the settlement date, organise building insurance to start from settlement, and do a final property inspection shortly before settlement to confirm everything matches what you agreed to purchase. Keep a simple running list of tasks and dates as settlement approaches, since several things, such as insurance, utility bookings and final inspections, tend to land in the same short window and are easy to forget under pressure.

• Confirm unconditional finance approval with your lender.
• Arrange building insurance effective from the settlement date.
• Complete a pre-settlement inspection of the property.
• Organise connection of electricity, gas and internet for your move-in date.

After Settlement

Once settlement is confirmed, you will receive the keys and become the registered owner. Keep copies of your settlement statement and contract documents somewhere safe, as you will need them for future reference, including if you sell the property or make a capital improvement claim down the track. If you have questions about how a family transfer or future property transfer might apply to your new home, it is worth raising this with your conveyancer while everything is still fresh.