Today we hear from a 28 year old who bought a one-bedroom apartment with his partner in Woolloomooloo for $975,000.00.

In this episode, he talks about how building wealth was his primary motivation for buying a property, and why he chose to go down that road instead of investing in shares. He also talks about desiring the safety of owning a property, rather than dealing with the lack of security around renting.

He explains how he and his partner were able to put down a 20% deposit, and how it allowed them to save money by opting for the land tax option over paying stamp duty.

Going into the property search, he and his partner had a clear idea of what they wanted in a property. He talks about what kind of non-negotiables they arrived at, and while it did limit the options of where they could buy, it helped narrow down the search and lead them to their ideal home.

While they were extremely lucky to have been able to purchase the first home they put an offer on, he talks about how emotionally draining he found the overall process. Negotiations with the real estate agent proved to be particularly stressful, and he speaks about what he would have done differently in hindsight.

You’re going to gain a lot of useful insights from this conversation on approaching the buying process with a clear strategy, and keeping your head on straight when curveballs come your way.

LINKS:

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Website:www.thefirsthomeguidebook.com.au

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