Buying your first home
The first homeowner guide
Congratulations - you own a home. The period after settlement is exciting, but it is also when a whole new set of costs and jobs arrives at once. This guide keeps it simple and calm.
Straight after settlement
- Connect electricity, gas, internet and water if not already connected
- Arrange home and contents insurance from day one
- Set up your mortgage repayments with your lender
- Note your council rates, water and (if applicable) strata billing cycles
- Change the locks if it gives you peace of mind
Your first month as a homeowner
The first month is mostly setup - connecting services, unpacking, and getting a feel for the bills. The key is to start a single list of every recurring cost so nothing slips through.
Your first year
Across the first year you will see every billing cycle at least once - quarterly rates, annual insurance renewal, possibly your first strata levy. By the end of the first year you will have a real picture of what the home costs, which is far more useful than the estimate you had at purchase.
Things no one tells you
Quarterly bills feel small until four of them land in the same month. Insurance renews before you remember. And there is always one repair in the first year. A small buffer and a single view of your costs takes the stress out of all of it.
Frequently asked questions
What should I do after buying a house?
Connect utilities, arrange insurance, set up mortgage repayments, and start a single list of every recurring cost. The sooner everything is in one place, the calmer the first year feels.
What bills do you pay when you own a home?
Mortgage, council rates, water, electricity, gas, internet, home insurance and strata where applicable - plus any subscriptions.
Last reviewed: 19 August 2026
