1. Know your limits

~Absolutely do not start falling in love with homes online and in property magazines before you know~ how much you’re able to spend. You can work out your borrowing threshold with this simple calculator.

2. Pinch yo pennies

Aim to save at least 20 per cent of the value of the property, plus a bit extra for the many additional costs that litter the path to home ownership like structural inspections, conveyancing, legal eagles, stamp duty and  insurances.

3. Start searching

Do you want an apartment, a free-standing home, land to build on? Have you thought about the need for car spaces, the number of bathrooms and bedrooms you want? Make a plan and compare apples with apples.

4. Look at loans

Not all loans are equal! Make sure you compare and contrast those loans available to you. And hopefully you end up with a good one. Use our home loan comparison calculator to find the best home loan for you.

5. Nod of approval

It’s not enough to just choose a loan, a loan must also choose you. Getting pre-approval is crucial to putting in an offer. Once you have that little piece of paper, you can start the bidding war!

6. Query value

You’re well within your rights to ask an agent what the vendor’s asking price is. Once you know that, study similar properties and get a sense of value for money.  Of course, auctions are a different matter.

7. Insect inspect

You wouldn’t buy a car without looking under the bonnet, and you shouldn’t buy a property without a building and pest inspection. They can be pricey, but they can save you a motsa.

8. First in, first served

If you have a pre-approval, you're better prepared to make an offer and get a head start on other buyers.

9. Fall of the hammer

If the sale is by public auction, you’ll  want to familiarise yourself with the theatre of it all. The best way to do this is to fill your Saturdays at auctions observing bidding strategies and auctioneer tactics.

10.  Don’t get bullied into buying

Don’t feel pressured. Yeah sure, you’ve set this big ambition of buying before the end of the financial year. Remind yourself, finding a home that truly fits the bill, at a price that doesn’t make you wince, may take time.