Are you making your whole property decision just to avoid paying stamp duty? We see this all the time, and honestly, it could cost you far more than you think in the long run.

In this episode, we’re joined by mortgage broker Andrew Wheatley to talk about the one big mistake we keep seeing first home buyers make: getting stuck on staying under the grant or concession thresholds. Andrew works with buyers every day and has a really practical way of helping people step back and look at the bigger picture, not just what they might save today, but what that decision could mean for their future wealth and lifestyle.

We go through what those thresholds actually mean, how much you’re really saving (or missing out on), and why some people end up stuck looking for months just because they didn’t realise they could stretch a little further without taking on more risk. It’s not about spending more just for the sake of it, it’s about making sure you understand all your options and make a decision that sets you up for the long term.

If you’re a first home buyer trying to make sense of all the government schemes, this chat will help you clear the noise and focus on what really matters, buying a quality asset that grows with you.

Episode Highlights:

00:00 - Introduction

03:01 - Who is Andrew Wheatley?

04:07 - What’s the biggest trap buyers fall into with stamp duty concessions?

09:13 - Should you explore options above the scheme threshold?

11:25 - Why so many first home buyers are competing at the same price point

14:04 - How much more do you really pay if you go over the threshold?

19:09 - What’s the smarter way to set your property budget?

21:54 - Why being “ready” matters more than being fast

23:26 - Is it bad advice to avoid stretching your budget on your first home?

29:50 - Why do buyers fixate on free money from the government?

31:37 - Can chasing a grant cost you capital growth?

32:52 - Should your first home also be a good investment?

39:12 - What are Andrew’s top tips for first home buyers?

45:04 - What’s one thing Andrew wishes he knew as a first home buyer?

About Our Guest:

Andrew Wheatley is the founder and lead mortgage broker at Wheatley Finance, based in Yarraville, Victoria. With over 20 years of experience in the finance industry, Andrew is passionate about helping Australians navigate the complexities of home loans and property finance. His dedication to client success has earned him recognition, including the Finance Brokers Association of Australia’s (FBAA) Victoria Finance Broker of the Year Award in both 2021 and 2022. Andrew established Wheatley Finance to empower clients with tailored financial solutions, aiming to shift the balance of power from banks to borrowers. He is known for his client-centric approach and commitment to providing clear, honest advice to help individuals achieve their homeownership goals.

Connect with Andrew Wheatley:

• Website https://www.wheatleyfinance.com/
• LinkedIn https://www.linkedin.com/in/andrew-wheatley/

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/
• Join our Facebook Group to get access to free monthly live Q&A sessions
• https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia
• 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 [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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