Your 7-Step Checklist for Buying a Home in Perth (2025 Edition)
Key takeaways:
- Financial preparation is the critical first step in Perth’s 2026 market, as properties often sell in just eight days; securing a formal pre-approval is essential to demonstrate serious intent to sellers.
- First-home buyers can access significant state support, including a $10,000 grant for new builds and full stamp duty exemptions for homes valued up to $500,000, with concessional rates extending to $700,000 in the Perth metropolitan area.
- Western Australia's unique real estate laws mean there is no automatic cooling-off period once an Offer and Acceptance (O&A) contract is signed, making it vital to include specific conditions for building inspections and finance approval.
If you’re planning to buy property in Perth, you’ve probably noticed how fast things are moving. Properties are selling in as little as 8 days, according to the Real Estate Institute of Western Australia, so buyers are having to act quickly – and decisively.
In a fast-paced market like this, preparation is everything. That’s where this buying a house in Perth checklist comes in. Whether you’re a first home buyer, moving interstate, or upgrading your home, this guide is designed to walk you through each stage of the Perth property buying process with clarity and confidence.
From finance through to settlement, here are the steps to buying a house in Perth WA.
Phase 1: Financial Preparation (The Broker’s Role)
Your best chance of securing the right property is having your finances sorted early. A mortgage broker helps you understand your limits, secure pre-approval and access the right lender fast, giving you a competitive edge from day one.
If you’ve just arrived or are planning an interstate move, you’ve likely been weighing up the financial benefits. It is a good idea to read our guide on moving to Perth which compares the costs, careers, and community appeal.
✅ Step 1: Know What You Can Borrow and Get Pre-Approved
The first step to buying a house in Perth is understanding how much you can borrow. A pre-approval confirms your borrowing power, so you can set a realistic price range before you even attend your first home open.
In a market where homes are snapped up in under ten days, pre-approval also shows sellers and agents you’re a serious buyer. Most lenders offer pre-approval for up to six months.
Your broker can help compare rates, policies and features across multiple lenders to find the right home loan for your needs – and fast-track the paperwork so you’re ready to offer when the time comes.
✅ Step 2: Budget for All Upfront Costs
Your deposit is just one piece of the puzzle. There are other upfront costs to factor into your budget, and understanding them early can help avoid stress later.
One of the biggest is Transfer Duty, commonly known as stamp duty. This is a state government tax paid when you buy a home, and it’s required to register the property in your name with Landgate (WA’s official land registry service). The amount depends on the value of the property and is usually paid at settlement.
If you’re a first home buyer, there are exemptions and concessions available – more on this in the next step.
Other costs to budget for include:
- Loan application fees (charged by your lender)
- Settlement agent or solicitor fees (required in WA to complete the legal transfer)
- Building and pest inspections
- Home and contents insurance
- Moving costs, council rates and utilities
Your mortgage broker can give you a full cost breakdown based on your price range and help you plan accordingly.
✅ Step 3: Check If You’re Eligible for Grants and Stamp Duty Relief
If you’re a first home buyer in WA, there’s a good chance you’re eligible for one or more government schemes that reduce the upfront cost of buying.
These include:
- WA First Home Owner Grant (FHOG): A $10,000 grant for eligible buyers purchasing or building a brand-new home.
- Stamp duty exemption or concession under the First Home Owner Rate (FHOR):
- No stamp duty is payable on homes valued up to $500,000
- A discounted (concessional) rate applies up to:
- $700,000 for homes in the Perth Metro or Peel region
- $750,000 for homes in regional WA
- If your home is over $500,000 but still within the cap, the duty is calculated at:
- $13.63 per $100 over $500,000 (Metro/Peel)
- $11.89 per $100 over $500,000 (Regional WA)
- Australian Government 5% Deposit Scheme (previously known as the First Home Guarantee Scheme). From October 2025, eligible first home buyers can purchase a property with as little as a 5% deposit – and without paying Lenders Mortgage Insurance (LMI).
Your broker can help you:
- Check eligibility
- Lodge applications
- Structure your loan to take full advantage of these incentives
Phase 2: Property Search & Due Diligence
✅ Step 4: Do Your Homework on Suburbs and Sites
Focus on substance, not just surface. Buyers often fall for styling or staging, but you want to look deeper:
- Location: Think about commute times, school zones, transport, shops and upcoming developments.
- Structure and layout: Will the floor plan meet your needs long-term? What renovation potential exists?
- Zoning and land use: Check the R-Code (residential zoning) for restrictions or future redevelopment potential.
- Property Interest Reports: Available from Landgate, these show if the property is affected by caveats, easements or other interests.
If you’re moving from interstate, this step is particularly important. WA regulations and zoning codes can differ significantly from the eastern states.
✅ Step 5: Always Get a Building and Pest Inspection
No matter how new or well-maintained a home appears, always order a Pre-Purchase Building and Timber Pest Inspection.
This is a critical part of the buying a house in Perth checklist. It helps you identify:
- Structural issues
- Damp or leaks
- Roof damage or foundation movement
- Termite activity
In WA, there’s no automatic cooling-off period – which means if you don’t include an inspection clause in your contract, you could be stuck with a costly problem.
This brings us to the next step: understanding how offers work in WA.
Phase 3: Offer and Settlement (WA-Specific)
✅ Step 6: Submit a Strong Offer via an O&A Contract
In Western Australia, offers are made using an Offer and Acceptance (O&A) contract. This document becomes legally binding once signed by both buyer and seller.
There’s no automatic cooling-off period in WA, so it’s critical to get the conditions right.
Include conditions such as:
- Subject to finance approval (typically within 7–10 days)
- Subject to satisfactory building/pest inspection
To strengthen your offer, consider:
- A shorter settlement (e.g. 21 days)
- Fewer non-essential conditions
- A competitive price in line with recent sale.
This is where having a broker and buyer’s agent in your corner makes a difference – they can help you build a strong but safe offer in a hot market.
✅ Step 7: Finalise Your Loan and Settle the Property
Once your offer is accepted:
- Your lender will conduct a valuation and issue formal loan approval
- Your settlement agent will:
- Confirm conditions are met
- Coordinate with Landgate to transfer the title
- Handle fund disbursement
- Complete Verification of Identity (VOI) requirements to prevent fraud
On settlement day, the home is officially yours. Your broker will remain on hand to answer questions and help you transition smoothly into homeownership.
Final Thoughts: Be Prepared and Move Fast
The steps to buying a house in Perth WA may feel overwhelming at first, but with the right plan in place – and a broker by your side – you can move with clarity and confidence.
Perth’s current conditions favour buyers who are organised and ready to act quickly. By
following this buying a house in Perth checklist, you’ll put yourself in the best possible position to secure the right home at the right price.
✅ Ready to Take Step 1?
The most important move is your first one: finance pre-approval.
Contact Loan Market Bal & Associates in Welshpool today to get expert guidance, compare loan options and secure your pre-approval. Let’s make your Perth property journey simple and successful.