Tips Before You Buy a Property in NSW: What to Check First

Reviewed by Brenda Gately, Licensed Conveyancer — 36 years' experience.

Buying a property is exciting, emotional — and, if you go in unprepared, expensive. After 36 years of guiding buyers through NSW purchases, these are the things Brenda tells every client to sort out before they commit to a property.

1. Secure your finance first

Before you fall in love with a property, know what you can actually borrow. Lenders assess your income, assets, debts and liabilities — get pre-approval so you can act quickly when the right property appears. If borrowing on your own is a stretch, a guarantor may help you over the line. Remember pre-approval isn't unconditional: keep your finances steady between approval and exchange.

2. Budget for the costs beyond the price

The purchase price is only part of what you'll pay. Budget for transfer duty (stamp duty), lender and mortgage registration fees, building and pest or strata reports, conveyancing and disbursements, insurance, and moving costs. First home buyers may pay reduced or no transfer duty under the First Home Buyers Assistance Scheme — check your eligibility early, because it changes what you can afford.

Not sure what the transfer itself will cost? See how much conveyancing costs in NSW.

3. Research the property and the area — not just the listing

Photos sell; data informs. Look at recent comparable sales in the suburb, planned development nearby, flight paths and main roads, and how long the property has been on the market. Visit at different times of day. If it's an apartment, ask how the building is run — the strata records will tell you more than the inspection ever will.

4. Get the right inspections

A building and pest inspection (for houses) or a strata report (for units) is a small cost against a very large purchase. These reports surface structural issues, termites, drainage problems, special levies and disputes — the things that turn a bargain into a burden. Do this during the cooling-off period at the latest; ideally before you commit.

5. Have the contract reviewed before you sign anything

Every NSW property listed for sale already has a contract of sale — and no two are the same. Special conditions can shorten your cooling-off period, shift costs to you, or bind you to terms you'd never knowingly accept. A pre-purchase contract review tells you exactly what you're agreeing to, and what should be negotiated, while you still have leverage.

Read more: why you should contact a conveyancer before you sign.

6. Understand the process you're about to enter

Knowing what happens at exchange, during the cooling-off period, and on settlement day removes most of the stress of buying. Our step-by-step guide to the conveyancing process in NSW walks through the whole journey.

Thinking of buying?

Send us the contract before you sign — Brenda will review it, explain it in plain English, and quote a fixed fee for the whole transfer.

Request a Free Quote or call (02) 8815 8148.