Construction on your new residence is almost complete, so what’s next? Here is our simple guide to cut through all the lingo.

1. Pre-settlement

This is when it comes time to organise finance. Experts recommend doing this up to 3 months prior to settlement, but be sure to track the project progress so your formal approval doesn’t expire.

2. Stamp duty

This sum will vary depending on a number of factors – whether you are a first home buyer, investor and so on – and will be provided by your solicitor prior to settlement.

3. Pre-settlement inspection

Undertaken once the building is complete (roughly a month before settlement), this is your chance to see your new home, with quality assurance recorded for the builders to rectify.

4. settlement

Once the legalities are finalised and full payment is complete, the property is formally transferred into your name and it’s time to collect your keys!