Your Complete Buyer's Guide
From your first inspection to settlement day — everything you need to know about buying property in Melbourne.
Getting Started
Buying a property is one of the biggest financial decisions you will make. Whether you are a first home buyer or an experienced investor, having a clear understanding of the process helps you make confident, informed decisions.
Step 1: Understand Your Budget
Before you start inspecting properties, speak with a mortgage broker or your bank to understand your borrowing capacity. Consider:
- Pre-approval — get conditional approval so you know your price range
- Stamp duty — factor in government charges (use our financial calculators)
- First Home Owner Grant — check if you qualify for Victorian government incentives
- Legal costs — conveyancing fees typically range from $800 to $2,500
Step 2: Research the Market
Spend time understanding property values in your preferred suburbs. Attend open homes, review recent sales data, and get to know the local market conditions across Frankston, Seaford, Mount Eliza, and the broader Mornington Peninsula.
Step 3: Inspect Properties
When inspecting a property, look beyond the cosmetics. Check for:
- Structural integrity — cracks, damp, roof condition
- Natural light and ventilation
- Storage and practical layout
- Proximity to schools, transport, and amenities
- Building and pest inspection reports
Step 4: Make an Offer
Once you have found the right property, your agent will guide you through the offer process. In Victoria, you can purchase:
- Private sale — submit a written offer through the agent
- Auction — bid on the day (unconditional once the hammer falls)
- Expression of interest — submit your best offer by a deadline
Step 5: From Contract to Settlement
After your offer is accepted:
- Sign the contract of sale
- Pay the deposit (usually 10%)
- Cooling-off period applies to private sales (3 business days in Victoria)
- Your conveyancer manages the legal transfer
- Settlement occurs on the agreed date (typically 30-90 days)
Need Help?
Our team is here to guide you through every step. Contact us to speak with an experienced buyer's agent.