What do I need to know when buying property in Australia?

"1. First, it is important to understand the local market, research and compare prices of properties in the area in which you wish to purchase. 2. Talk to a buyer's agent and/or property attorney to get help, advice and assistance in the purchase process. 3. Familiarize yourself with Australian laws and regulations regarding property ownership. 4. Get a building and pest inspection to assess the condition of the property before purchasing. 5. Make sure you have appropriate insurance in place to cover any unexpected costs. 6. Be aware of any hidden costs, such as transfer fees, mortgaging fees, legal fees, and other fees associated with the purchase. 7. Consider long-term maintenance costs for the property. 8. Speak to a qualified tax adviser to make sure that you are aware of any tax implications associated with the purchase. 9. Have a clear plan of action and timeline, and know what steps need to be taken in order to purchase the property. 10. Investigate the loan options available to you, and ensure that you are making a decision that is financially responsible," remarked another expat in Australia.