Got a question for the trio? https://zfmz.com/uLtjhyBskV96PYeJfal Show notes: https://propertyplanning.com.au/when-property-and-money-decisions-upset-relationships-part-1-ep-194/ The trio make a bitter-sweet announcement at the beginning of the show. Pete is leaving the podcast to enjoy his semi-retirement, and while Dave and Cate are excited for Pete, they are pretty sad to be saying goodbye to Pete. He's not leaving quite yet - they have the 200th episode coming up in April and they have a special three-part series with Pete coming up. They also share they will be announcing Pete’s replacement in the coming weeks…..stay tuned! In this week’s episode, Dave, Cate and Pete cover some of their best tips for navigating tough property decisions as a couple, particularly when risk profiles, preferred locations and priorities for home versus investment differ. 1. What are some of the triggers for first home buyers when it comes to potentially upsetting a relationship? From separate savings to differing salaries, parental support and pre-nuptial agreements, the trio canvas some of these sensitivities. Pete talks about some of his experiences with these situations and Dave points out that it's not uncommon for couples to have different feelings and views about things and shares some interesting examples for you to be aware of. 2. How do couples broach pre-nuptial agreements or substantial cash contributions? Dave's experience with past clients precipitate some great questions that first home buyer couples can discuss at the onset of their journey, and he also shares a great podcast with our listeners that tackles pre-nuptial agreements. 3. What do you do if your partner enjoys 'living in the moment' financially more than you? Cate mentions a reasonably common issue that sometimes creates tension in first home buyer relationships; a different approach to saving and spending. YOLO, (you only live once) is a fun way to look at life, but it has it's place. Unfortunately YOLO doesn't have such a great place when it falls within a dedicated first-home savings regime. In addition to investment appetites and debt aversion, many couples face differences of opinion when it comes to location. Proximity to work, family, friends, schools and community can sometimes clash. 4. What is a common trigger than can be avoided? Dave notes that a significant stressor relates to the overall plan; home or investment. Plenty of couples and individuals blur the lines or lose track of the primary reason for a purchase. Whether it be a stepping stone property or a fully-fledged home, a future-use investment or a rent-vest approach, so many start the process without thoroughly canvasing what they should be focusing on. The trio talk about their various approaches to 'getting two people on the same page'. Cate refers to Venn Diagrams and the shaded, overlapping part. Dave discusses the need for a firm plan well before specific locations and dwelling types are up for consideration. Approaching cashflow, cash buffers and deposits is an important part of the pre-planning and Dave sheds light on some of the clever questions couples can answer together before embarking on the property criteria phase. Gold Nuggets Cate Bakos, the 'Property Buyer's Gold Nugget: Cate shares some good tips for first home buyers who are navigating the process with parental input, (solicited and unsolicited) in their ear. Ultimately it's an important decision that is made by the couple, not parents. David Johnston, the 'Property Planner's Gold Nugget: Dave encourages property buyers to plan early. It's all about investing more time in the planning up-front, as opposed to during the search phase.