Buying your first home is an exciting milestone, but it can also be a daunting process filled with legal jargon, financial commitments, and unfamiliar procedures. At Reflect Conveyancing, we specialise in helping first home buyers across Sydney navigate the complexities of property transactions with confidence and clarity. This guide outlines everything you need to know before taking that important first step towards home ownership.

1. Understand Your Budget

Before falling in love with a property, it’s essential to determine how much you can realistically afford. Start by:

• Reviewing your income, expenses, and savings
• Meeting with a mortgage broker or lender to assess borrowing capacity
• Considering additional costs such as stamp duty, legal fees, insurance, inspections, and moving expenses

Tip: First home buyers in NSW may be eligible for government grants or stamp duty exemptions – speak to our team for tailored advice.

2. Secure Pre-Approval

Once you know your budget, the next step is to obtain a loan pre-approval. This is a conditional approval from a lender that shows sellers you are serious and capable of purchasing.

Benefits of pre-approval:

• Strengthens your offer in a competitive market
• Speeds up the purchase process
• Helps you stay within budget

3. Engage a Conveyancer Early

As your trusted conveyancers in Sydney, we strongly recommend involving us early in the process – ideally before you make an offer. We will:

• Review the contract of sale
• Advise you on legal terms and special conditions
• Carry out necessary property searches
• Liaise with agents and solicitors

By having us on board from the beginning, you reduce the risk of unexpected delays or costly oversights.

4. Find the Right Property

Take time to research suburbs, attend open homes, and compare prices. Consider:

• Proximity to work, schools, and public transport
• Local amenities and infrastructure
• Future growth potential of the area

Don’t rush – buying your first home should be a carefully considered decision.

5. Review the Contract and Make an Offer

Once you’ve found a property, it’s time to make an offer – either via private treaty or auction. We will:

• Carefully review the contract of sale
• Explain any risks or unfavourable conditions
• Request amendments if needed
• Guide you through the signing process

Important: Never sign a contract without legal advice.

6. Pay the Deposit and Enter the Cooling-Off Period

When your offer is accepted, you’ll typically pay a 0.25% deposit and enter a 5-business-day cooling-off period (for private sales in NSW). This allows you to:

• Conduct a building and pest inspection
• Finalise your loan approval

Withdraw from the contract if needed (with minimal penalty)

For auction purchases, there is no cooling-off period, so it’s critical to be fully prepared.

7. Unconditional Exchange and Pre-Settlement Preparation

After the cooling-off period (or immediately post-auction), contracts are exchanged unconditionally. We will:

• Conduct further searches (e.g. title, zoning, council)
• Liaise with your lender
• Prepare settlement documentation
• Confirm all financial details and disbursements

This stage typically takes 4–6 weeks before settlement.

8. Settlement Day

Settlement is the official transfer of ownership from seller to buyer. We will:

• Coordinate with all parties (seller’s solicitor, lender, agents)
• Ensure all funds are transferred
• Notify the relevant government bodies
• Confirm keys are ready for collection

Congratulations – you’re officially a homeowner!

9. Post-Settlement Support

Our service doesn’t stop at settlement. We’ll guide you on:

• Updating your title with Land Registry Services
• Ensuring compliance with government requirements
• Understanding any ongoing obligations or property matters

Why Choose Reflect Conveyancing?

At Reflect Conveyancing, we combine local expertise with a personalised approach to ensure your first home buying experience is smooth, secure, and stress-free. Whether you’re buying off-the-plan, established homes, or navigating grants and stamp duty rules, we’re here to guide you every step of the way.

• Clear and upfront advice
•  Fixed-price conveyancing fees
•  Fast response times
•  Sydney-based, fully licensed professionals