Buying your first home is one of the biggest financial decisions you’ll ever make — but it doesn’t have to be overwhelming. At Flenley Financial Group, we’ve helped countless first home buyers across Australia navigate the process with confidence. Whether you’re just starting out or ready to take action, here are the 5 essential steps to owning your first home.
1. Set Your Budget
Before anything else, you need to know how much you can afford. Setting a realistic budget will help you narrow down your property options and avoid financial stress later on.
Take into account:
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Your income and regular expenses
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Estimated upfront costs (deposit, stamp duty, legal fees)
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Ongoing costs like mortgage repayments, insurance, and maintenance
2. Understand Your Borrowing Power
Your borrowing power is how much a lender is willing to offer you for a home loan. It’s based on factors like your income, debts, credit score, and living expenses.
Understanding your borrowing power early gives you clarity on what properties you can realistically pursue — and prevents surprises during the approval stage.
Try our borrowing calculator to get an estimate today.
3. Get Pre-Approval
A loan pre-approval means a lender has conditionally agreed to lend you a certain amount, pending final checks.
It gives you stronger negotiating power when making offers and shows sellers you’re serious. It also speeds up the process once you find the right property.
Flenley brokers can help you secure pre-approval across over 40 lenders.
4. Start Your Property Search
With pre-approval and a clear budget in place, you can begin house-hunting with confidence.
Focus on suburbs that match your lifestyle, budget, and long-term goals. Be realistic about compromises — whether that’s property size, location, or features.
Need help assessing a property’s value? We’re happy to guide you.
5. Finalise and Settle Your Loan
Once you’ve found your home and had your offer accepted, we help finalise your loan. This includes signing the contract, valuation checks, and satisfying any lender conditions.
Settlement day is when ownership is officially transferred to you — and you get the keys to your new home.
At Flenley, we’ll be with you right through to settlement and beyond.
Ready to Start Your Property Journey?
Buying your first home doesn’t have to feel complicated. With expert guidance, tailored advice, and access to 40+ lenders, Flenley Financial Group is here to help you take the first step with confidence.
📞 Book a free chat with Craig and let’s find your way home.
