First home buyer guide
Your first home in WA, step by step
Buying a first home in WA moves through seven stages, from saving a deposit and getting pre-approval to signing an offer and collecting the keys at settlement. This guide keeps each stage short and points you to the detail when you need it.
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How buying a house in Perth works
Buying a house in Perth follows the same path for most first home buyers: get your finances ready, find a home, make an offer with the right conditions, then settle.
Most of the hard work happens before you ever walk into an open home. Knowing your budget, your deposit and which schemes you qualify for makes the rest of the process faster and far less stressful.
The order matters. Most first home stress comes from making an offer before the finance side is sorted, and in WA a signed offer is hard to undo. So we'd rather you know your numbers first.
Timing varies. Some people are ready to buy within weeks of a first chat, others take a year or two to save. Both are fine.
Before you start house hunting
Before you look at homes, work out your deposit, check which grants and schemes apply to you, and get pre-approval so you know your budget.
Save and set a budget
Work out how much deposit you need and what you could borrow. Our pages on how much deposit you need and the borrowing power calculator are good starting points. Leave room for the costs beyond the deposit.
Check grants and schemes
Keystart, the 5% Deposit Scheme, the First Home Owner Grant and the first home owner duty concession can all change your numbers. Our first home buyers page sums them up.
Get pre-approval
A lender assesses your finances and gives you a borrowing limit, usually with conditions. Pre-approval lets you make offers with confidence.
From your offer to the keys
Once you find a home, you make a written offer with finance and inspection conditions, get unconditional approval, and then your settlement agent completes the purchase on settlement day.
Find and inspect
Look at homes within your pre-approved budget. Book a building and pest inspection, and a strata report for units, townhouses and villas, before you're locked in.
Make an offer
In WA you sign an Offer and Acceptance. Tick the finance clause and name your pre-approved lender, and add any inspection conditions, so you're protected if something falls through.
Go unconditional
Your lender values the property and gives formal approval. You choose a settlement agent, sign your loan documents and plan for transfer duty.
Settle and move in
Settlement is the day your loan is paid out to the seller and the title moves into your name. You do a final inspection beforehand, then collect the keys.
Your first home buyer checklist
This first home buyer checklist covers the paperwork and decisions most people need to tick off between saving and settlement.
- Two or three recent payslips, and your latest tax return if you're self-employed
- Three to six months of bank statements showing your savings
- Photo ID, such as a driver's licence or passport
- A list of your debts, including credit cards, HECS-HELP and buy now pay later
- A clear budget, including upfront costs and a buffer
- Grant and scheme eligibility checked
- Pre-approval in hand, with a note of when it expires
- Building and pest inspection booked, plus a strata report if needed
- Finance and inspection conditions written into your offer
- A settlement agent chosen
- Building insurance arranged, ready for settlement
- Final inspection booked a few days before settlement
First home buyer tips from our team
The first home buyer tips we share most often are simple: know your numbers early, protect yourself in the offer and keep a buffer for the unexpected.
Tidy up your credit
Pay down cards, close the ones you don't use and avoid new debts while you apply. Lenders look at your limits, not only your balances.
Watch your timing
Pre-approval doesn't last forever. If you're still looking months later, we check it's current before you make an offer.
Keep a buffer
Rates, insurance and small repairs arrive soon after you move in. A little left in savings makes the first few months calmer.
Compare the whole cost
The rate matters, but so do fees, features and how a scheme's rules affect you. We lay the full cost side by side.
How we guide you to settlement
We work alongside you at every stage, from your first budget to the day you collect the keys.
Have a chat
We talk through your savings, income and plans, and tell you plainly where you stand.
Build your plan
We map out your deposit, schemes and borrowing power, with a timeline that suits you.
Get pre-approved
We compare lenders, prepare the application and lodge it for you.
See it through
From your offer to settlement, we liaise with the lender and your settlement agent so nothing slips.
Rated five stars by the people we help
"As first home buyers, Lucy made the entire process simple, stress-free and easy to understand. Her communication, professionalism and genuine care were outstanding. We secured our dream first home in record time!"
"Friendly, knowledgeable and incredibly responsive throughout. She made everything feel easy and stress-free, and always took the time to patiently answer all of our questions. We felt supported every step of the way."
"Maddy has been exceptional helping us navigate getting our mortgage to build our home. Always super friendly and always has the time to answer any burning questions. Would highly recommend Maddy and Oui Finance to everyone!"
Frequently asked questions
What are the steps to buying a house in Perth?
The steps to buying a house in Perth are to save a deposit, check your grants and schemes, get pre-approval, find and inspect a home, make an offer, get unconditional approval and settle.
The stages above explain each one in a few lines, with links to the detail.
How long does it take to buy a first home in WA?
It depends mostly on how long it takes to save, because once you're pre-approved and have found a home, getting from offer to settlement often takes a matter of weeks.
Your contract sets the settlement date, so we help you allow enough time for the lender to complete its checks.
Is there a cooling-off period when buying a house in WA?
No, there is no mandatory cooling-off period for real estate contracts in WA, so a signed written offer is very hard to back out of.
Conditions such as a finance clause naming your pre-approved lender, and a building inspection clause, are how buyers usually protect themselves.
What should be on a first home buyer checklist?
A first home buyer checklist should cover your documents, your budget and upfront costs, your scheme eligibility, pre-approval, inspections, offer conditions, a settlement agent and insurance.
The checklist above has the full list you can work through.
Do I need a settlement agent in WA?
Most WA buyers use a licensed settlement agent or a lawyer to handle the legal transfer of the property and run settlement on the day.
Settlement agents set their own fees, which must be disclosed to you in writing before you engage them. Our hidden costs page covers what to budget.
Get help with your first home
A first chat with Oui Finance is complimentary, and we'll help you work out which stage you're at and what to do next.
Send us a few details and one of our brokers will be in touch. You can also call us on 0448 383 336.
This page is general information only and does not take your personal circumstances into account. It is not legal advice, so speak to your settlement agent or lawyer about your contract and its conditions. Lender credit criteria, terms, conditions, fees and charges apply, and your full financial situation will be reviewed before any offer or product is accepted.