The first home buyer roadmap
Eight steps from “can we afford it” to picking up the keys, in the order they happen in Tasmania.
1. Work out your real budget
Add up your savings, then subtract the costs that are not the deposit: transfer duty, conveyancing, inspections and moving. What is left is your deposit. How much deposit you need.
2. Check the schemes
See which of the First Home Owner Grant, the 5% Deposit Scheme, MyHome and the First Home Super Saver you qualify for. They change what you can buy. First home buyer loans.
3. Tidy up your finances
Three months before applying, close unused credit cards and buy now, pay later accounts, and keep your savings pattern steady. A lender will read your statements line by line.
4. Get pre-approved
A lender assesses your income and gives you a written limit, usually valid for about 90 days. Pre-approval explained.
5. Inspect and check the property
Get a building inspection, and check bushfire, flood and landslip overlays. Property risk checks in Tasmania.
6. Make an offer with a finance clause
Tasmania has no automatic cooling-off period on private sales. Your protection is the conditions written into the contract, such as subject to finance and subject to building inspection. Have a conveyancer or solicitor review the contract before you sign.
7. Formal approval
We send the signed contract to the lender, who orders a valuation and issues formal approval. Do this well inside the finance clause date. Don’t change jobs or take on new debt in this period.
8. Settlement
You sign the loan documents, arrange building insurance, and your conveyancer and the lender exchange funds for the title. Then you get the keys.
Questions people ask
How long does the whole process take?
From pre-approval to keys is commonly two to four months, depending on how quickly you find a property and the settlement period agreed.
General information, last updated November 2026. Scheme figures, lender policies and duty rates change, so confirm them before you rely on them.
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