The purchase of a home is probably the biggest financial transaction most people will make during their lifetime, yet it is usually undertaken without the benefit of legal advice.

Basically there are two types of homes: a dwelling situated on its own block of land or a dwelling that is situated on property shared with others (called a home unit or strata title unit). A person who is about to purchase a home should first think carefully about the type of home wanted, the features required and then make all possible inquiries about the relative costs involved.

For additional information on buying a home unit which may be on a strata or community title, see 'Buying strata or community title'.