A Guide to Purchasing Your First Home in WA

Buying your first home is an exciting milestone but it can also feel overwhelming if you’re unsure where to start. In Western Australia, there are unique processes, government incentives, and property market conditions to consider. This guide will walk you through the essentials so you can approach your first purchase with confidence.

Understand Your Budget

Before you start browsing listings, it’s important to know what you can realistically afford.

• Speak to a mortgage broker or lender to get pre-approval.

• Factor in additional costs such as stamp duty (or exemptions), settlement fees, building inspections, and moving expenses.

• Consider future expenses like rates, insurance, and maintenance.

Explore Government Incentives

WA offers several schemes to help first-home buyers enter the market:

• First Home Owner Grant (FHOG): A one-off payment to eligible buyers purchasing or building a new home.

• Stamp Duty Concessions: First-home buyers may be exempt from transfer duty up to certain price thresholds.

• Keystart Loans: Low-deposit home loans backed by the WA Government for eligible applicants.

Checking your eligibility for these programs could save you thousands.

Research Suburbs and Property Types

Decide on the areas that fit your lifestyle, commute, and budget. Whether you’re looking at established suburbs like Hocking or Pearsall, or new developments in surrounding areas, compare:

• Median house prices

• Proximity to schools, shops, and transport

• Future infrastructure plans

• Community atmosphere

Engage Professionals Early

Buying property is a legal and financial transaction so having the right team is essential.

• Real estate agent: Can help you understand market trends and negotiate confidently.

• Settlement agent/conveyancer: Handles legal paperwork and title transfer.

• Building & pest inspector: Ensures the property is structurally sound and pest-free.

Make an Informed Offer

Once you find the right property:

• Research recent sales in the area to guide your offer.

• Be ready to move quickly if competition is high.

• Understand contract terms, including conditions for finance and inspections.

Prepare for Settlement Day

From signing the contract to getting the keys, settlement usually takes 4–6 weeks in WA. During this time:

• Your lender finalizes finance

• The settlement agent prepares documentation

• You arrange insurance for your new home

The Bottom Line

Your first home purchase is a big step but with the right preparation, professional guidance, and clear goals, it can be a smooth and rewarding experience.
If you’re thinking about buying your first property, the team at Rize Residential can guide you from day one, helping you navigate the WA property market with confidence.