Why a Property Brief is Your First Step
Buying a home in Australia is exciting, but it’s also complex. Between fluctuating markets, competitive auctions, and rising demand, it’s easy to feel overwhelmed. The smartest way to start is with a property brief, a document that clearly defines your suburb, budget, and property type.
Think of it as your “shopping list” for property. A good brief keeps you focused, saves time, and helps you communicate with selling agents or buyer’s agents. Without one, you risk wasting weekends at unsuitable open homes or stretching beyond your budget.
Step 1: Define Your Budget
Know Your Numbers
Before you even shortlist suburbs, you need to know exactly how much you can spend. This includes not only your deposit and loan capacity but also extra costs such as:
- Stamp duty (varies by state and concessions)
- Lenders Mortgage Insurance (LMI) if your deposit is under 20%
- Conveyancing and legal fees
- Building and pest inspections
- Moving and setup costs
- Get Pre-Approval
A mortgage pre-approval gives you a clear maximum borrowing limit and strengthens your position when making offers.
Tip: Many buyers’ agents recommend buyers spend no more than 80% of their approved borrowing capacity. This keeps you flexible and avoids overcommitting in auctions.
Step 2: Select Your Suburb or Region
Research the Suburbs
The suburb you choose has a massive impact on lifestyle, commute, school zones, and future growth. Use tools like:
- CoreLogic / Domain / Realestate.com.au suburb profiles
- Local council planning maps
- Property Update and other market reports
- Consider These Factors
- Commute & transport: How far to work, school, or family?
- Amenities: Shops, cafes, medical services, parks, sporting facilities
- Schools: Catchment zones can significantly influence value
- Demographics: Young families, professionals, retirees?
- Capital growth history: Has the suburb grown steadily?
- Future infrastructure: Planned transport, shopping centres, or zoning changes
Shortlist 2–3 Options
Don’t just fixate on one suburb. If competition is intense, nearby “sister suburbs” may offer better affordability and growth potential.
Step 3: Choose Your Property Type
House, Townhouse, or Apartment?
Your property type should reflect your lifestyle and investment goals:
- House: More land and control, often better long-term capital growth
- Townhouse: Lower maintenance, often a balance between house and apartment
- Apartment: Affordability and convenience, but check strata levies and building condition
Must-Haves vs Nice-to-Haves
Break your features into two lists:
Must-haves: Minimum bedrooms, parking, outdoor space, pet-friendly, accessibility
Nice-to-haves: Extra bathrooms, larger kitchen, pool, study nook, renovated interiors
This prevents you from being swayed by shiny extras that aren’t essential.
Step 4: Create Your Property Brief
Now, combine your budget, suburb shortlist, and property type into a single, structured document. Here’s a property brief template you can adapt:
- Budget: $X–$Y (include pre-approval details)
- Preferred Suburbs: Primary suburb(s) + secondary options
- Property Type: House / Townhouse / Apartment
- Bedrooms/Bathrooms: Minimum requirements
- Parking: Yes / No (garage, carport, on-street)- Land Size: Minimum m² (if applicable)- Must-Haves: e.g., school catchment, home office, outdoor area- Nice-to-Haves: e.g., renovated kitchen, second bathroom, north-facing yardThis document becomes your reference point for the entire search.When you engage a buyer’s agent, your property brief is the foundation of their search. It tells them:- What properties to consider (and what to ignore)- Which selling agents to approach for off-market listings- How to evaluate suitability quickly- How to negotiate based on your prioritiesBuyer’s agents often refine your brief after initial inspections, tightening criteria or expanding suburb lists based on market realities.Red Flags When Defining Your BriefUnrealistic expectations: Wanting a large house in a blue-chip suburb on a starter budget.Too vague: “Any property in Sydney” will overwhelm both you and your agent.Too rigid: Being overly specific (e.g., “north-facing Victorian with pool in one street”) may limit options.Balance clarity with flexibility.
