stepBUYstep guide

How to buy a house in Victoria, step by step

Buying in Victoria follows a clear sequence: finance first, legal checks second, then the property search, and finally settlement and the move. Here's each stage in plain English, with links to the official sources.

Step 1 — Sort your finance

Work out your deposit: most Victorian lenders want 5–20% of the purchase price, plus upfront costs (stamp duty, conveyancing and inspections). A 20% deposit avoids Lenders Mortgage Insurance (LMI).
Get pre-approval from a lender or mortgage broker before you seriously search — it sets your budget and makes your offers stronger.
First home buyers: the Victorian First Home Owner Grant (FHOG) is $10,000 for new homes valued up to $750,000, and the federal First Home Guarantee lets eligible buyers purchase with a 5% deposit without paying LMI.

State Revenue Office Victoria — First Home Owner Grant

Step 2 — Engage a conveyancer

In Victoria, a licensed conveyancer or solicitor handles the legal transfer. Engage one before you sign anything.
They review the Contract of Sale and the Section 32 (vendor's statement) — the document that discloses title, planning, rates and anything that affects the property.
Contract reviews are usually quick and inexpensive, and can save you from signing into easements, owners-corporation surprises or unfavourable terms.

Consumer Affairs Victoria — buying property

Step 3 — Find and inspect property

Shortlist suburbs against your pre-approved budget, then attend open inspections and compare recent sold prices, not just asking prices.
Before you commit, arrange an independent building and pest inspection — a few hundred dollars that can reveal structural issues worth tens of thousands.
If you're buying at auction, remember: Victorian auctions have no cooling-off period. Do your legal review and inspections before auction day.

Consumer Affairs Victoria — inspections and auctions

Step 4 — Stamp duty, settlement and moving

Stamp duty (land transfer duty) is usually your biggest upfront cost after the deposit. First home buyers pay no stamp duty on homes up to $600,000, with a concessional rate up to $750,000.
Settlement in Victoria runs electronically through PEXA, typically 30–90 days after signing. Your conveyancer and lender coordinate the transfer of funds and title.
After settlement: connect electricity, gas and internet, take out building insurance, and book your move.

State Revenue Office Victoria — land transfer duty

Want this as a guided timeline?

stepBUYstep turns these four steps into a personal timeline with vetted local brokers, conveyancers, agents and moving services — connect with each one when you reach their step.

Start your timeline

Grant amounts and duty thresholds change over time — always confirm the current figures with the State Revenue Office Victoria or your conveyancer before relying on them.