If you think you’re doing everything right when it comes to buying your first home, you might want to think again!

In today’s episode, we talk about the cautionary tale of a couple who thought they had it all figured out, buying an old house with the intention of demolishing it and rebuilding a new one. Only to make a huge mistake that cost them dearly. Do you think you could avoid their fate?

This couple's demolition disaster is something that could happen to anyone, but it's entirely avoidable. By listening to their story and learning from their mistakes, you'll be better equipped to make informed decisions when purchasing a property.

Let us take you through their experience and break down what went wrong, while we also give some practical tips on what you can do to ensure that you don't make the same mistake.

Join us in our discussion today and take the challenge to learn from the mistakes of others. Set yourself up for success by avoiding pitfalls that can come with buying your first home.

Episode Highlights:

00:00 - Introduction

02:19 - Meighan’s special house of the week!

03:55 - Grave mistake costs Sydney couple their dream home

05:49 - Understanding underlying factors & regulations for property development

07:41 - Do your due diligence before making decisions based on assumptions and FOMO

13:40 - Why are some properties allowed to build while others are not?

16:20 - Asking conveyancers or solicitors the right questions when rebuilding

21:33 - The consequences of demolishing a property you don’t have approval to demolish

25:18 - How to easily avoid this kind of demolition and rebuild disaster

29:20 - The importance of independent advice in real estate

Resources:

• Link to the story of the Sydney couple https://bit.ly/3LEJsMe
• Visit our website https://www.homebuyeracademy.com.au/
• Learn how to buy property without making a mistake with our 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 [email protected]
• 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!

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