A lot of first home buyers dive into the property market without adequate preparation, which makes the home buying process confusing and stressful.

Today, we tackle common issues and challenges faced by many first home buyers and break down four essential steps you need to take before diving into your home search.

Without these four tips, buyers risk overspending or facing unexpected obstacles. Additionally, overlooking these steps can result in dissatisfaction with the chosen property.

So if you're thinking about buying your own home, tune in to this episode! These tips will help you fine tune your approach and be more confident in the decisions you will be making to find the perfect place to call home.

Episode Highlights:

00:00 - Introduction

02:25 - Meighan’s special house of the week

05:38 - Tip #1: Have the right support crew around you

10:09 - Tip #2: Invest in your financial fitness

13:38 - Tip #3: Have good, hard conversations with yourself

18:25 - Tip #4: Have a checklist and know where you can compromise

Resources mentioned in this episode:

• A Quick Guide To The 10 Essential Steps For First Home Buyers https://homebuyeracademy.com.au/a-quick-guide-to-pace
• Where to Buy Tutorial https://homebuyeracademy.com.au/workshop

Resources:

• FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourse
• Meet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokers
• Visit our website https://www.homebuyeracademy.com.au/
• Learn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBG
• If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast support@homebuyeracademy.com.au
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/
• Work with Meighan: https://www.linkedin.com/in/meighanwells/

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

• Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825
• Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

See omnystudio.com/listener for privacy information.

Deciding whether to invest in property or buy a home to live in is tough. Although the decision might seem straightforward, the consequences can have a lasting impact on your financial future.

When you think about buying a home, there are hurdles like figuring out if you can afford to buy where you really want to live. . On the flip side, rentvesting gives you flexibility, but you need to watch out for changes in the rental market and think long-term about investing and its potential impact on your future ability to buy a home.

In this episode, we talk about the pros and cons of both options. Join us as we dive into the rentvesting versus homeownership debate, examining the advantages, disadvantages, and everything in between.

Episode Highlights:

00:00 - Introduction

02:06 - Should you rentvest or buy a home to live in?

03:16 - Two critical questions one must ask themselves before considering rentvesting

08:42 - Who are the two most ideal candidates for rentvesting?

10:52 - Rentvesting pro #1: You can buy anywhere

14:16 - Rentvesting pro #2: You get rental income

15:45 - Rentvesting pro #3: You get tax deductions if it’s negatively geared

17:13 - Rentvesting con #1: You have no access to grants/incentives as a first home buyer

20:17 - Rentvesting con #2: It could limit your borrowing capacity to buy your future home

24:29 - Rentvesting con #3: The potential uncertainty and risks associated with renting

25:55 - Rentvesting con #4: Selling an investment property incurs capital gains tax

29:03 - Bonus: What you need to know about investment properties and land tax

Resources mentioned in this episode:

• Courses for first home buyers who don’t want to miss a step: https://homebuyeracademy.com.au/all-courses
• The Stepping Stone Strategy Tutorial https://homebuyeracademy.com.au/ssstutorial
• Kick start your property journey here: https://homebuyeracademy.com.au/tutorials

Resources:

• FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourse
• Meet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokers
• Visit our website https://www.homebuyeracademy.com.au/
• Learn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBG
• If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast support@homebuyeracademy.com.au
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/
• Work with Meighan: https://www.linkedin.com/in/meighanwells/

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

• Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825
• Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

See omnystudio.com/listener for privacy information.

There are many important decisions to make when buying your first home, from using grants, evaluating properties, down to dealing with financing issues. Without the right help, first home buyers could end up overpaying for a property or buying in less desirable locations, which can negatively impact both financial well-being and long-term satisfaction with the purchase.

In this episode, we pick up from Part 1 and dive deeper into the challenges faced by most first home buyers.

If the process of buying your first home seems challenging, this episode is for you. Tune in for clear, actionable advice that will help you feel more confident and prepared. Join us, bring your questions, and take a big step towards making your dream home a reality.

Episode Highlights:

00:00 - Introduction

02:26 - Are there restrictions on using first home grants for investment purposes?

05:26 - Factors to consider when buying in a complex with many units

08:51 - What are the expected growth rates for apartments compared to houses?

11:53 - Is a 3 by 3.14 metre bedroom size considered acceptable for resale?

14:18 - What steps can be taken if a bank's property valuation is less than your offer?

19:40 - Is it advisable to buy a house on a battleaxe block along a main highway?

24:13 - Are there unique investment opportunities in unit-dense suburbs?

Resources mentioned in this episode:

• Your First Home Buyer Guide Podcast Episode #171: How Can We Help? Real Estate Solutions from Campfire Questions - Part 1 https://homebuyeracademy.com.au/podcasts/171

Resources:

• FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourse
• Meet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokers
• Visit our website https://www.homebuyeracademy.com.au/
• Learn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBG
• If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast support@homebuyeracademy.com.au
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/
• Work with Meighan: https://www.linkedin.com/in/meighanwells/

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

• Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825
• Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

See omnystudio.com/listener for privacy information.