We've talked a lot on this podcast about getting your finance sorted, but as we always say, the most important decision you'll make is the actual property you purchase. That's why we're kicking off a six-part series with two of Australia's most experienced buyers agents, Veronica Morgan and Meighan Wells from the Home Buyer Academy.

Not every first home buyer knows what a buyers agent actually does or whether it's the right fit for them. In this episode, Jack sits down with Veronica to walk through what buyers agents do, how they differ from sales agents, the different ways you can engage one, and what it costs. We also explore the red flags to watch for and the key questions to ask before you commit.

If a full buyers agent service isn't within reach right now, Veronica and Meighan have also created a First Home Buyer Course and weekly Campfire sessions that bring you access to expert guidance at a lower price point.

In this episode:

🔑 What a buyers agent actually does and how they're different from a sales agent

🔑 The three service tiers available and what each typically costs

🔑 When it makes sense to use a buyers agent

🔑 The red flags to watch out for and the questions to ask before engaging one

🔑 How the Home Buyer Academy course and Campfire sessions support first home buyers

Timestamps

00:00 - Introducing Veronica Morgan

02:21 - Why She's Passionate About First Home Buyers

04:29 - Today's Topic and Special Offer

04:58 - Buyer's Agent vs Sales Agent

06:37 - Service Tiers: What's Available

07:19 - How Much Does a Buyer's Agent Cost?

08:22 - Why Cheap Buyer's Agents Aren't Worth It

09:52 - Red Flags to Watch Out For

12:54 - Questions to Ask Before You Commit

14:47 - Is the Cost Actually Worth It?

17:02 - The Emotional Side of Home Buying

19:54 - When Should You Engage a Buyer's Agent?

22:43 - Can't Afford a Buyer's Agent? Your Options

23:59 - The Home Buyer Academy and Campfire Sessions

29:16 - What's Next in the Series

Ready to start your own first home journey? Book a Get to Know You Chat with Jack mortgage broker and National First Home Buyer Specialist.

More about Home Buyer Academy

HBA First Home Buyer Course (Access for half price if you work with First Home Unlocked - start here)

Home Buyer Academy Website

Your First Home Buyer Guide Podcast

Connect with Veronica

Veronica's Website

Good Deeds Property Buyers Website

Veronica's Linkedin

Find Out More About Alcove’s Trusted Buyers Agents

Street Secrets Podcast

Alcove Trusted Buyers Agent Map

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If you listened to Episode 37, you heard about the federal budget changes to negative gearing and capital gains tax. But there's a conversation we kept coming back to that deserves its own episode. It's not just about what you buy today, it's about who's going to buy it from you in the future.

Since that episode, Chris has written a full report exploring exactly that question. It's called "Who Buys It From You Next?" and it looks at how the budget has reshaped buyer pools across different property types and what that means for the long-term value of what you buy today. In this episode, Jack interviews Chris about that report because there's some really important thinking here that every first home buyer needs to hear before they make a property decision.

We cover how investors made up around 40% of all new home loans before the budget and why they've now stepped back from the established market. We talk about why grandfathering protects the current owner's tax position but not the next buyer and most importantly, we walk through the six practical tests from Chris's report that you can use to stress test any property before you commit.

In this episode:

🔑 Why "who buys it from you next" is the question most people never ask

🔑 How the budget has changed buyer pools for established properties

🔑 Why properties driven by investor demand are now at risk

🔑 What properties with genuine owner-occupier demand actually look like

🔑 The six tests to stress test a property before you buy

Timestamps

00:00 - Who Will Buy It From You Next?

02:48 - The Key Question When You're Buying

06:58 - Investor Activity and What It Means Post Budget

10:37 - When Investors Are Your Buyer Pool

16:22 - When Families and Owner-Occupiers Drive the Market

18:45 - The Six Tests for Property Assessment

Free Resources

Chris Report: Who Buys it From You Next

Mentioned Episodes:

Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer

Episode 37: Unlocking the 2026 Federal Budget

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If you've been reading the news or scrolling through social media this week, you've probably seen some headlines about first home buyers using the 5% deposit scheme and something called negative equity. There is a real risk worth understanding. But for every first home buyer using this scheme, there's a clear strategy that goes with it.

In this episode, Jack Elliott and Chris Bates address the headlines and talk through what negative equity actually is, when it really matters, and most importantly, how you protect yourself whether you're still planning to buy or you've already purchased using the scheme.

We cover the five key things you can do to protect yourself going in, from knowing your numbers before you borrow to building your emergency fund, choosing quality assets, and getting your income protection sorted.

In this episode:

🔑 What the headlines are actually saying about negative equity

🔑 What negative equity really is and when it matters

🔑 How to work out what you can genuinely afford before you borrow

🔑 Why building your emergency fund is critical with a 5% deposit

🔑 The importance of asset quality and protecting your income

🔑 What to do if you've already bought and are feeling anxious

If you're planning to buy using the 5% deposit scheme and want to talk through your numbers, book a Get to Know You Chat with Jack.

Timestamps

00:00 - Should We Be Worried About the 5% Deposit Scheme?

01:54 - What Headlines and Bank Economists Are Actually Saying

03:52 - What Is Negative Equity and the Risk?

06:53 - How to Protect Yourself as a First Home Buyer

07:05 - #1 Do the Work on Your Numbers Before You Borrow

10:18 - #2 Build Your Emergency Fund

13:19 - #3 Know Your Goals and Play for the Long Term

15:38 - #4 Do the Work on Asset Quality

17:31 - #5 Get Insurance and Income Protection in Place

20:28 - If You Lose Your Job

21:46 - If You've Already Bought Using the Scheme

Budgeting tools

• Sort Your Money Out Spending Plan
• Pivot Wealth Savings Planner
• Moneysmart Budget Planner

Resources

• Goals & Visions Workbook
• Asset Quality Checklist
• Download Your How to Protect Yourself When Using the 5% Deposit Scheme Resource

Mentioned Episodes

• Episode 1: Unlocking Your Goals and Vision
• Episode 6: Unlocking Asset Quality
• Episode 23: Unlocking Loan to Value Ratio
• Episode 25: Unlocking Interest Rates and Why They Move
• Episode 31: Unlocking Offset Accounts
• Episode 37: Unlocking the 2026 Federal Budget

Want to keep the conversation going?

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If you're self-employed, banks will usually need more from you before they'll lend compared to a PAYG employee. Understanding what banks are looking for means you can present your income in the best possible way and set yourself up for success.

In this episode, Jack Elliott and Chris Bates break down how banks assess self-employed income. We talk through the standard two year approach, why one year financials could significantly increase your borrowing capacity, what your options are if your ABN is less than two years old, and how the director wages pathway could change what you're able to borrow.

We also cover the tension between tax minimisation and borrowing capacity, why speaking to a broker before you lodge your tax return matters, and how connecting your broker and accountant early can help you find the right balance between both.

In this episode:

🔑 How banks assess self-employed income using two years of financials

🔑 Why one year financials could significantly increase your borrowing capacity

🔑 What your options are if your ABN is less than two years old

🔑 How the director wages pathway could change what you're able to borrow

🔑 Why speaking to a broker before you lodge your tax return is so important

Timestamps

Timestamps

00:00 - Budget Changes: What We're Seeing for First Home Buyers

01:36 - Introduction to Self Employed Income Assessment

04:09 - The Standard Two Year Approach

04:41 - Balancing Tax Minimisation and Net Profit

07:20 - One Year Financials Policy with Example

09:18 - Protecting Yourself as a Self Employed Buyer

12:07 - Director Wages Policy

14:57 - What If Your ABN Is Less Than Two Years Old?

17:36 - Business Debts and Addbacks

19:41 - Getting the Best Outcomes as a Self Employed Buyer

22:19 - The Tax Return Trap

24:25 - Getting the Right Team Around You

Free Resources

Download Your How Banks Assess Self Employed Income Resource

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The Federal Budget just changed the property market overnight, and the government is calling it a win for first home buyers. If you're a first home buyer, you're probably seeing a lot of headlines and wondering what it actually means for you and your plans.

In this episode, Jack Elliott and Chris Bates break down the major budget announcements and what they mean for the property market. We talk through the changes to negative gearing and capital gains tax, how investors are likely to respond, what this means for house prices and competition, and most importantly what it all means for you as a first home buyer.

Whether you're actively looking at properties right now, still in the planning stage, or you've recently purchased, this episode covers what you need to know and how to think about moving forward.

In this episode:

🔑 The major budget changes to negative gearing and capital gains tax

🔑 How investors are likely to respond and what that means for competition

🔑 Which types of properties and markets will feel these changes the most

🔑 The tools and data you can use to check if an area is investor-heavy

🔑 What first home buyers should be doing right now whether actively looking or still planning

Timestamps

00:00 - What the Federal Budget Means for First Home Buyers

04:00 - What Was Actually Announced and Initial Thoughts

08:11 - How Investors Will Respond

11:31 - What It Means for First Home Buyers

14:39 - Tools to Check Investor vs Owner Occupier Markets

19:01 - What Happens to House Prices

22:03 - Should Active Buyers Wait or Keep Going?

24:09 - What Happens to Competition in the Market

26:05 - Asset Quality and Property Selection Right Now

33:10 - What It Means for the Rental Market

38:12 - If You're Planning to Buy in the Future

40:36 - The 5% Deposit Scheme and Help to Buy

43:09 - If You've Already Purchased

43:41 - Interest Rates and What Happens Next

Free Resources

Open Stats Tool - Property Data

Census - Property Data

Download Your Federal Budget 20206 Resource

Mentioned Episodes:

Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer

Episode 26 | Unlocking the Federal Government ‘Help to Buy’ Shared Equity Scheme

Want to keep the conversation going?

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Casual and contract workers make up more than a quarter of the Australian workforce. If you're a casual or contract worker, there are absolutely ways to borrow. It just comes down to understanding how banks look at your income and making sure you're with the right lender for your situation.

In this episode, Jack Elliott and Chris Bates break down how banks assess casual and contract income. We talk through what lenders are actually looking for, why the same weekly pay can mean very different borrowing capacity at different lenders, and how you can protect yourself financially once you take on a mortgage.

We also share a real example where choosing the right lender added $35,000 in borrowing capacity just by using a different annualisation method, showing why lender selection matters so much for casual and contract workers.

In this episode:

🔑 How banks assess casual income and what they're looking for

🔑 Why the same weekly pay can mean different borrowing capacity at different lenders

🔑 How banks assess contract income and the difference between dependent and independent contractors

🔑 How to protect yourself financially once you take on a mortgage

🔑 What casual and contract workers should be doing right now to put themselves in the strongest position

Timestamps

00:00 - Casual and Contract Income Explained

03:11 - How Banks Assess Casual Income

04:48 - Strengthening Your Position as a Casual Worker

06:53 - Annualisation Differences Between Lenders

07:49 - Protecting Yourself as a Casual Borrower

09:49 - Dependent vs Independent Contractor

10:32 - Contract History, Renewals and Gaps

13:30 - Key Takeaways

Unlock your Free Resources

Download Your How Banks Assess Casual & Contract Income Resource

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Income is one of the biggest drivers of your borrowing capacity, but banks don't just look at how much you earn. They look at how you earn it and depending on your situation, the same salary can produce very different results at different lenders.

In this episode, Jack Elliott and Chris Bates go deeper into how banks assess different types of PAYG income. They break down what happens if you've recently changed jobs or you're still on probation, why overtime and allowances are treated differently depending on your industry, how commission and bonus income gets shaded by lenders, and what banks look for when you're working a second job or planning to go on parental leave.

They also share a real example where choosing the right lender policy added $65,000 to a first home buyer's borrowing capacity, showing just how important lender choice can be.

In this episode:

🔑 PAYG income and what happens if you've recently changed jobs or you're on probation

🔑 Overtime and allowances and why the lender you choose can make a big difference

🔑 Commission and bonus income and why the bank doesn't take the full amount

🔑 Second job income and what the banks are really looking for

🔑 Parental leave and what you need to have in place to move forward

Timestamps

00:00 - PAYG Income - How Banks Assess it

01:50 - PAYG Requirements, Job Changes & Probation

06:50 - Overtime and Allowances

10:39 - Commission and Bonus Income

12:52 - Second Job Income

14:34 - Parental Leave: Can You Still Borrow?

15:51 - Wrap Up and Final Thoughts

Unlock your Free Resources

Download Your How Banks Assess PAYG, Overtime, Bonus & Allowance Income Resource

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Borrowing capacity isn't just about your income, and it's not the same at every bank. Banks are also looking at your deposit, your debts, your spending, your credit history, and even the property you're buying to decide how much they're willing to lend you and how risky your loan looks to them.

In this episode, Jack Elliott and Chris Bates walk through exactly what banks assess when you apply for a home loan. As well as banks looking at your income, we discuss how they look at your deposit and genuine savings, why credit card limits matter more than what you owe, how HECS debt actually impacts your borrowing capacity, and how the property itself can sometimes impact if you can even borrow at a certain lender.

We also talk about the difference between what a bank will lend you and what's actually right for your situation, and why choosing the right lender from the start makes a big difference to your options now and into the future.

In this episode:

🔑 What banks look at when they assess your borrowing capacity

🔑 How your income, deposit, debts and expenses all factor in

🔑 Why HECS debt is changing and what that means for first home buyers

🔑 The difference between what a bank will lend you and what's right for you

🔑 How choosing the right lender can make a big difference to your options

Timestamps

00:00 - How Banks Assess You

01:38 - Assessing Your Income

04:37 - Assessing Your Deposit and Genuine Savings

08:11 - Assessing Liabilities: Credit Cards, Loans, HECS, BNPL

15:51 - Assessing Your Living Expenses and Bank Statements

19:52 - Credit History and Your Assessment

22:43 - How Banks Assess the Property

25:08 - Borrowing Capacity Summary and the Role of a Broker

Unlock your Free Resources

Download Your How Banks Decide What You Can Borrow Resource

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There's a lot happening right now. Another interest rate rise, global uncertainty, fuel and supply issues, and a federal budget just around the corner. If you're a first home buyer, you might be wondering what all of this actually means for you and your plans.

In this market update episode, Jack Elliott and Chris Bates sit down to talk through what's going on in the market, what first home buyers are actually seeing, and most importantly, what you should focus on right now.

We break down the practical impact of the latest interest rate rise on your repayments and borrowing capacity, talk through your options around fixing versus variable rates, and share a three step plan to help you move forward with clarity and confidence, no matter what the market is doing externally.

In this episode:

🔑 What's actually happening in the market right now for first home buyers

🔑 The practical impact of the latest interest rate rise on repayments and borrowing capacity

🔑 Fixed versus variable rates and how to decide what suits your situation

🔑 A three step plan to help you focus on what you can control

Timestamps

00:00 - What We're Seeing in the Market Right Now

06:57 - The Impact of the Rate Rise

09:54 - Should You Fix Your Rate?

13:17 - Your Three Step Action Plan

Unlock your Free Resources

Download Your Goals & Visions Workbook

Download Your April 2026 Market Update Resource

Mentioned Episodes:

Episode 25 | Unlocking Interest Rates and Why They Move

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If you've saved a significant deposit, received a gift from family, or come into money through inheritance, you're in a strong position as a first home buyer. But having more cash doesn't automatically mean the best decision is to put it all into the property.

In this episode, Jack Elliott and Chris Bates talk through the strategic options worth considering when you have a large deposit. We explore how to balance reducing your loan with keeping buffers in place, why your emergency fund matters, and how a bigger deposit might allow you to skip the stepping stone property altogether.

We also talk about the professionals worth bringing into your corner, including buyer's agents and financial planners, and how a larger deposit opens up opportunities like buying properties that need renovation or having the option to buy higher quality assets.

In this episode:

🔑 Whether to put all your deposit in or keep buffers aside

🔑 How to protect yourself after settlement with emergency funds

🔑 Why a large deposit might let you skip the stepping stone property

🔑 The value of buyer's agents and financial planners for first home buyers

🔑 How you could use your deposit strategically to get the best long-term outcome

Timestamps

00:00 - Introduction

03:16 - Leaving Buffers & Why It’s Important

06:17 - Can You Look Beyond the Stepping Stone Mindset?

08:32 - The Importance of Asset Quality

11:26 - Build the Right Team Around You: Buyers Agents & Financial Planners

19:52 - Don't Let the Bigger Deposit Rush You

Unlock your Free Resources

Download Your Buying Strategically with a Gift, Inheritance or Large Deposit Resource

Mentioned Episodes:

Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer

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firsthomeunlocked.com.au