Your first inspection checklist for buying a home in Australia

A first inspection checklist gives your very first open inspection a purpose, so you walk in to assess the property rather than just admire it. Your first time through a home for sale can feel like a whirlwind, and it is easy to miss the things that matter most when you are picturing your furniture in the lounge. This first inspection checklist sets out what to bring, what to look at on the day, and how that first viewing connects to a professional building and pest report, your offer, and your finance, so you move from a hopeful look to a clear-eyed decision.

If you want the finance side sorted before you start inspecting, our home loans page covers your options. The rest of this guide focuses on the property and the process around that first viewing.

What a first inspection actually is

An open inspection, sometimes called an open home, is a scheduled time when anyone can view a property that is for sale. It is your first chance to see the home in person, get a feel for the space and the street, and start forming a view on whether it is worth pursuing. A first home inspection checklist matters here because a single walk-through goes quickly, and you rarely get long on your own to take it all in.

This first viewing is not the same as a professional inspection. Your own checklist helps you compare properties and spot obvious concerns early. A professional report, which comes later, digs into the things you cannot see. Treat your first inspection as a filter that tells you whether a property is worth the next step, not as the final word on its condition.

What to bring to your first open inspection

A little preparation turns a rushed look into a useful assessment. Before you go, get a few practical things ready so you can focus on the property rather than fumbling on the day.

• Your written checklist and a notepad or phone to record what you see in each room.
• A camera or phone for photos, so you can compare homes later and remember the detail.
• A tape measure, in case you want to check whether a room fits your furniture or appliances.
• A list of questions for the agent, covering the reason for sale, how the property is being sold, and the settlement timing.
• Your price range from any pre-approval, so you know whether the home fits what you may be able to fund.

Bringing these along signals that you are a serious buyer and helps you gather the same information at every property, which makes your open inspection checklist far easier to compare across homes.

Your room-by-room first inspection checklist

Work through the same points each time you inspect. A consistent first home inspection checklist makes it easier to compare one place against another and to remember what you saw once you are home.

• Walls, ceilings and floors: look for cracks, sagging, water stains, or uneven surfaces.
• Damp and mould: check bathrooms, laundries, under sinks, and around windows for signs of moisture.
• Roof and gutters: note the condition from the ground, and look for sagging lines or missing tiles.
• Windows and doors: open and close them to check they sit square and seal properly.
• Electrical and plumbing: test taps and light switches, and note the age of the switchboard.
• Outside and grounds: check fences, retaining walls, drainage, and any signs of pests or rot.
• Storage, light and layout: confirm the space works for how you actually live, and notice the natural light.
• Street and surrounds: step outside and take in noise, parking, and the feel of the neighbourhood.

Anything you flag here is worth raising with a professional inspector before you commit. For a deeper walk-through, our house inspection checklist covers each area in more detail.

How your first inspection leads to a professional report

Once a property passes your first inspection and you decide to pursue it, the next step is to protect yourself with a professional building and pest report. This is where your own checklist hands over to an expert who can assess what sits behind the walls.

According to Moneysmart, a building inspection checks for structural issues, damp, electrical safety, and the cost of maintenance or repairs. A pest inspection looks for termite activity or any other pest issues. Together these reports answer the question that matters most: is this a sound home, or one that will cost you far more than the purchase price suggests?

When you can arrange that report depends on how the property is being sold, so it pays to ask the agent at your first inspection.

For a private treaty sale, you usually have a cooling-off period in most states and territories. Moneysmart notes that you can use this window to get a building and pest report done, and you can usually get out of the contract and get most of your deposit back if you give written notice during the cooling-off period.

For an auction, the timing is different and the stakes are higher. According to Moneysmart, there is no cooling-off period if you buy at auction, which means the sale is final and is not subject to finance or a building or pest inspection. Because of this, if you are planning to bid you may want to arrange the building and pest inspection before the auction, so you go in with the full picture.

How your first inspection connects to your offer and finance

A first inspection is one part of buying well. The property tells you whether the home is sound; your finance tells you whether the purchase fits your circumstances. The two work together, and the way you make an offer changes what protections you have.

Moneysmart explains that an unconditional offer is a binding contract to buy outright, while a conditional offer becomes binding only if certain conditions are met, such as valuation, finance approval, or inspections. For many first home buyers, a conditional offer on a private treaty sale leaves room to complete a building and pest report before the purchase is locked in.

How much deposit you bring also shapes the cost of the loan behind your purchase. According to Moneysmart, a 20% deposit will avoid you needing to pay lenders mortgage insurance (LMI), which is a one-off cost some lenders charge when your deposit is smaller. Whether a smaller deposit works for you depends on your circumstances and lender criteria, so it is worth talking through your numbers early.

If you are buying at auction, Moneysmart notes you can expect to pay a deposit immediately, typically 10% of the purchase price, so your finance needs to be ready before you raise your hand.

Getting pre-approval before you start inspecting helps here. Moneysmart explains that pre-approval shows you are eligible to apply for a loan up to a certain amount, lasts for 3 to 6 months, and does not commit you to a loan. That lets you set a price range you can fund with confidence as you work through your first inspections.

A calculator helps you sense-check a purchase price against your budget. You can try our borrowing power calculator to see how a given price sits against what you may be able to borrow, which is useful once a first inspection has confirmed a property is worth pursuing.

Putting your first inspection checklist into action

Bring the pieces together in order so nothing slips between your first viewing and a confident decision.

Working in this order keeps your inspection findings and your finance moving in step, so you are never committing to a home you have not properly checked. For more on the steps that follow, see our guide to making an offer.

Where Finance Lab fits in

Your first inspection tells you about the property. We help you get the finance behind it right. If you would like to talk through your deposit, pre-approval, and how a purchase price fits your circumstances, the team at Finance Lab is here to help. Sorting your finance early means that when the right property passes your first inspection, you are ready to act.

Frequently asked questions