Home Buyer Tips
Practical, no-nonsense tips for anyone buying property in Australia. Based on real data patterns we see across thousands of suburbs.
1. Always check the strata report
For apartments and townhouses, the strata report reveals upcoming levies, building defects, disputes, and the sinking fund balance. A cheap property with a $50K special levy coming is not cheap. Request the strata report before making an offer.
2. The median price is not your budget
The median is the middle sale price. Half of all sales are above it, half below. If you can only afford 20% below the median, you are competing for the bottom quarter of the market. Be realistic about what your budget actually buys in each suburb.
3. Check how long properties take to sell
Settlement times tell you how competitive the market is. Under 6 weeks means properties are moving fast and you need to act quickly. Over 3 months means buyers have more leverage to negotiate.
4. Look at 10+ years of price data, not just the last 2
Short term trends can mislead. A suburb that jumped 30% in one year might be reverting a previous drop. Look at the full cycle to see if current prices are above or below the long term trend.
5. Compare the median to the mean
When the mean is much higher than the median, a few expensive sales are pulling the average up. This usually means a wide price range in the suburb. When they are close together, pricing is more consistent.
6. High flipper activity is a warning sign
If a lot of properties in a suburb are being resold within 2 years, it often signals speculative buying. Prices may be inflated by short term demand rather than genuine owner-occupier interest. Check the flipper risk tab.
7. Strata percentage tells you the suburb character
A suburb with 80%+ strata is mostly apartments. One with under 20% is mostly houses. This affects everything from noise levels to capital growth patterns. Make sure the mix matches what you want to live in.
8. Do not skip the building and pest inspection
It costs $500-800 and can save you $50,000+. Structural cracks, termite damage, asbestos, and plumbing issues are common in older properties. Walk away from any seller who resists an inspection.
9. Understand the difference between list price and sold price
Agents often list below the expected sale price to attract more buyers and create competition. Look at actual sold prices, not listing prices. Our data shows real recorded sale prices from government records.
10. Check what is happening on the streets, not just the suburb
Two streets in the same suburb can have very different median prices. A main road frontage, proximity to train lines, or flood zone can drop values significantly. Use street rankings to understand the micro-market.
11. Factor in all the costs beyond the purchase price
Stamp duty (up to 5.5% in NSW), legal fees ($1,500-3,000), building inspection ($500-800), strata report ($300), moving costs, and immediate repairs. Budget an extra 6-8% on top of the purchase price.
12. Get pre-approval before you start looking seriously
A pre-approval letter tells you exactly what the bank will lend and shows sellers you are a serious buyer. Without it, you risk falling in love with properties you cannot afford or losing out to pre-approved buyers.
13. Off-market sales are more common than you think
Not every property sale appears on realestate.com.au or Domain. Government records capture all sales, including off-market ones. Check the full sales history to see transactions that never made it to a listing site.
14. Visit the suburb at different times
Drive through on a Saturday morning, a weekday evening, and a Sunday night. Check traffic, parking, noise levels, and general feel at different times. A suburb that is quiet at 11am on a Tuesday might be gridlocked at 5pm.
15. Growth rate matters more than current price
A suburb with a $600K median growing at 8% per year will outperform a $1.2M suburb growing at 2%. Over 10 years, compound growth is what builds equity. Use the property cycle analysis to find suburbs with strong long term trajectories.
16. Do not rush because of fear of missing out
Markets move in cycles. If you miss one property, another will come. Making a $1M decision under pressure is how people overpay. Set your criteria, stick to your budget, and be willing to wait for the right one.
This is general information only, not financial or legal advice. Always consult a qualified professional before making property decisions.