Stacey and Ryan Quinn have just left the rental market and moved in with family to fast-track saving a deposit for their first home.

The couple, who are in their 30s and recently married, are probably 12 or so months off their savings goal.

"We are saving a lot more money, nearly triple to be honest. We are still paying rent here but it's more of a gesture of thanks for helping us out," Ryan says.

They want to know what else they should be doing in the meantime to successfully secure a property in suburban Brisbane.

Whether you're buying alone or with somebody else, in the city or in the country, for yourself or as an investment, it helps to know what steps to take and when.

Guided by experts, we put together a rough timeline for first home buyers like Stacey and Ryan — and anyone else looking to enter the market — to reference in the months ahead.

12 months or more from purchasing a home

Decide what type of property you might buy

Knowing how much you need to save means identifying what property you would like, and can afford, to purchase.

To do that, you need to dip your toe into what's on offer.

"It's never too early to start familiarising yourself with the market. This will help you set a budget and determine how much deposit you may need to save," says Josh Callaghan, general manager of Real Estate Institute Queensland.

"Researching suburbs, along with the going rate for homes in that area, will also give you a realistic perspective on where you can afford to purchase."

You can do that by speaking with agents, looking at listed homes online and simply driving around the suburbs.

If you're super keen and can afford it, you could consider a paid subscription to online valuation tools such as CoreLogic, Domain and Residex to supplement your research.

Set a savings goal

The earlier you can start saving the better, Mr Callaghan says. Not only does it give you more time to reach your goal, it shows lenders you're a good candidate too.

"Demonstrating an ability to save will assist you in securing a home loan, but your ability to loan money from a credit provider depends on more than that," he says. (We'll come back to this in a sec.)

It's also helpful to know how much a lender would loan you as that will impact what you need to save, says Professor Richard Holden from UNSW Business School.

It might seem early, but "to figure that out you could go directly to a couple of banks, use a mortgage calculator online or see a mortgage broker", he says.

Melissa Browne, financial adviser and author of Unf*ck Your Finances, says professionals will give you a detailed idea of what costs are ahead.

"It's a great idea to speak to a mortgage broker who can let you know what your borrowing capacity is, what extra costs you might have to pay — such as stamp duty, inspections, mortgage insurance and conveyancing fees — plus what deposit you might have to save for."

Mr Callaghan recommends aiming for a 20 per cent deposit if you can, because with that amount you don't have to pay mortgage lender's insurance.

But it doesn't always benefit you to wait to reach the 20 per cent, according to Ms Browne.

"I see people saving for their 20 per cent because they don't want to pay mortgage insurance which may take a few years to save for.

"Potentially they should have paid mortgage insurance and used a lower deposit."

A professional will be able to help you work out the best strategy.

What's something you wish you knew before buying your first home? Tell us in the comments.

Find out your credit score

Good credit scores show lenders your capacity to repay a credit card or loan, whereas bad ones can demonstrate you might be a higher risk and could result in extra interest charges or getting knocked back.

Your credit score can impact your ability to borrow money, so you want to be across where it's at.

A broker or bank could help you access this, but there are also free online services.

Ms Browne says people are often unaware there have been things from their past that has impacted their score.

"Finding out your score and any hidden nasties means you can do something about them before you see about getting a loan.

"One client, who had a telephone bill in her name from a shared house that she didn't realise wasn't paid, needed to clear the debt and remove that black mark before she applied for the loan."

6 months from purchasing a home

Watch your expenses

When you're applying for a home loan, you have to show lenders you can both save and spend money responsibly, Mr Callaghan says.

"These days, credit providers are also looking at lifestyle spending habits, so you'll need to have a close look at yours at least three months prior to seeking pre-approval.

"Home buyers should reconsider spending frequent large amounts of money on things like betting, alcohol and eating out."

Look more closely at properties

The property market is seasonal, Professor Holden warns, so dependent on your timeline, you'll want to be aware when more properties are available.

"There are less in winter than spring, and then again around the holiday seasons there is a drop off because people are away or they don't want people coming to the house," he says.

Being aware of these ups and downs will help you when you're ready to buy.

Around this time, it can help to make a list of deal-breakers. Can you live without a second bathroom? What about being on a main road?

Consider seeking legal advice

If you're buying a home with someone else, whether it's a partner, family member or a friend, there are conversations you'll want to have ahead of time.

Getting some advice from a financial planner and lawyer will also help you know what can go wrong, and how to protect yourself.

This can involve learning about binding financial agreements, and different ways of owning property, such as tenants in common.

"When buying a property with other people, getting legal advice is crucial to determine the right ownership structure," Mr Callaghan says.

3 months from purchasing a home

Start inspecting properties

Whether you're buying a Queenslander in the country or an apartment in the city, you need to be across what's available ahead of time. ( Flickr: John )

Inspecting properties will help you get a clearer picture about what's on offer, and help you practise dealing with agents, before you're ready to make an offer.

It's also a reality check that can show you how different homes can look compared to their online listing, and get you thinking about important things people often miss, like traffic noise.

"Inspecting properties allows you get a feel for what features you want and don't want, compare advertising photographs to the real thing, and create a detailed list of reference points for when you are ready to buy," Mr Callaghan says.

Just make sure you have the self-control to not make an offer before you're financially ready.

Seek pre-approval

Getting loan pre-approval allows you to confidently make an offer when you're ready to do so, explains Mr Callaghan.

You can seek it even earlier to gain an idea of your borrowing capacity, but keep in mind they generally only last for six months.

Pre-approval can be obtained by dealing with a lender directly, or through a mortgage broker, and the process can take up to two weeks.

Get your paperwork in order

For pre-approval you'll need to get your life admin organised.

If you're a good filer, you could possibly tackle this in a weekend. But if you need to reach out to banks or employers for paperwork, for example, give yourself more time.

Showing savings and debts, proof of identification, proof of employment and an assets list are just some of the things you'll need to obtain.

"Once you start talking to brokers or banks, they'll ask you for a range of items like bank statements, pay slips, etcetera, so being as organised as possible will make that process easier," Mr Callaghan says.

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You're ready!

The above processes will help get you to the starting line of buying your home.

The earlier you can start many of them, the better.

For Stacey and Ryan, making sacrifices is one part of their journey, but knowing what they're dealing with is just as important.

"Seeing a broker was very helpful. He told us what the banks are looking for and different options of borrowing," says Ryan.

This article contains general information only. It should not be relied on as advice in relation to your circumstances and issues, for which you should obtain specific, independent professional advice.