Purchasing a property will probably be the most important and expensive asset you will acquire. Which is why research, planning and patience are needed to make a successful purchase.

Most people will need to borrow to finance a home. This initially means coming up with a home deposit; then you need to shop around to find the right home loan. 

Depending on your circumstances, you may be eligible for a first home owner grant or discount.

This could be helpful because there are multiple upfront and ongoing costs involved when buying a property.

Once you have conditional home loan approval, it's time to:

• work out where to buy your property
• arrange property and pest inspections
• review a contract of sale
• decide between auction or private treaty