The First Home Guidebook

I’m excited today to bring you Tash from Tash Invests to share her property story. She is 25 years old and bought her first property a few years ago in Perth for $295,000, whilst on an income of $75,000 a year. She lived in it for a little while before moving interstate, and is now a rentvestor who receives positive cashflow from that property.

Tash bought her first property on her own for $295,000. She was inspired and motivated by her parents and grandparents who all invested in property and would often go to open house inspections for fun. She had a very good idea about what she wanted, the area she wanted to live in, and that she only wanted to live in it for the first year.

She didn’t have any long term plans at that point but didn’t want to push her mortgage too high to leave her open and free to pursue other interests. She started saving at 14 years old and had $70,000 ready for her first deposit. She was able to purchase her home with a 20% deposit (along with the First Home Buyers Grant) and had enough left over to have a buffer in case of any emergencies.

Tash takes us through finding the property, using a mortgage broker (in reverse!), dealing with the seller and placing an offer, opting for a fixed interest rate, and rentvesting.

Listen in to learn all of Tash’s tips and advice for purchasing your own first home and ponder for yourself how rentvesting can give you the freedom and space to pursue whatever life throws at you (while having a safety net!).

LINKS:

Connect with Tash:

Website:https://tashinvests.com/

Check out my FREE checklist 100 Things To Look Out For At Property Inspections here

Connect with Amy:

Website: www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

You may have heard of a buyer’s agent, but given their popularity in Australia is fairly recent, you may be wondering what they actually do. Today I’ll be running through what a buyer’s agent offers and why you should consider using one as a first home buyer.

While those looking to sell their property will usually engage a real estate agent to work on their behalf, many buyers face tackling the property purchase on their own. They’re often unaware of the services out there that can provide them with much-needed support on their journey.

In this episode, I explain the role of a buyer’s agent and how you could benefit from engaging one. From helping you to create a property brief to handling negotiations with the seller, a buyer’s agent is a valuable asset whose objective is to help you navigate the complex process of buying a home - as well as making sure you find the right one.

I take you through the different services a buyer’s agent will offer, how to choose the right one and what you can expect to pay. Though it can be daunting to imagine having the extra cost, using a buyer’s agent can reduce the chance you’ll make a mistake that costs you financially.

While you can absolutely take on the buying process alone, I encourage you to consider working with a professional whose guidance will likely save you time, money and stress in the long run.

I hope this episode gives you valuable insight on the options available to you, so that you can achieve the best possible outcome on your property buying journey.

LINKS:

Check out my FREE checklist 100 Things To Look Out For At Property Inspections here

Connect with Amy:

Website: www.thefirsthomeguidebook.com.au

Instagram: @amy_lunardi_property

Today we hear from a 30-year-old single female who bought a two-bedroom apartment in Elwood, Melbourne for $640,000.00. Though she was excited to be checking a property purchase off her life to-do list, she felt she rushed the decision and offers some of the wisdom she gained in hindsight.

As a self-employed photographer on a fluctuating income, she understood the potential risks involved with buying a home on her own. However, owning a property had always been a priority and she forged ahead, managing to save a substantial amount of money to put towards a deposit.

Though she had initially made up her mind to purchase a property in the country, she ended up evaluating her lifestyle and decided to look for properties in Melbourne’s northside. She shares how the competitive property market drove her to expand her search to other areas, which led her to the home in Elwood that she now owns.

The auction process can often be a deflating one, with so many other buyers in attendance to compete with. She talks about the fatigue she experienced from losing out on properties she loved, and how this influenced her to go higher than her original budget to secure the property she ended up buying.

Her elation after a whirlwind purchasing process quickly settled after she moved into the property and realised that it wasn’t her ideal home. She talks us through her emotions and thought process during this time, and how she obtained a clarity call from an industry professional to help ease the anxiety and regret she felt around the decision she’d made.

She shares some valuable wisdom on knowing your strategy for the future, being patient and waiting to find a property that you are excited to call home.

LINKS:

Check out my FREE checklist 100 Things To Look Out For At Property Inspections here

Connect with Amy:

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

With so many questions and uncertainties around buying your first home, it's important to seek advice and ask as many questions as possible to ensure you're making informed decisions.

Today I’m answering some great questions I’ve received from listeners, to hopefully help you move through the first home buying process with much more confidence and knowledge.

The first question I address is around negotiating a purchase price, particularly if the property is found to have defects. I break it down into two parts, the first being around whether we can negotiate down on price or ask the vendor to repair those items. I dive into the two types of sale methods that determine how and when to approach these negotiations and the risks involved in the process.

Secondly, can the vendor pull out of the contract if they're unwilling to fix what's previously outlined in that contract? I discuss what the vendor can and can’t do and the importance of having a well-worded contract with specific conditions to mitigate the risk of things turning sour.

Lastly, I answer a question from a buyer who is seeking clarity on the two types of deposits involved in a purchase. I explain the difference between the deposit paid to the bank and the deposit the real estate agent receives under the contract. I run through how it all works with some examples to reduce the confusion that buyers commonly experience around this matter.

If you have any questions that you would like covered in the podcast, please reach out and remember that chances are, if you have that question, somebody else probably has it too!

LINKS:

Check out my FREE checklist 100 Things To Look Out For At Property Inspections here

Connect with Amy:

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

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:

Check out my FREE checklist 100 Things To Look Out For At Property Inspections here

Connect with Amy:

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

There are many aspects to take into consideration when buying your first home, and knowing which questions to ask can be challenging. So what makes a good property?

As a buyer’s agent, I get asked this question all the time. In today’s episode, I take you through five key elements to keep in mind when determining whether a property is the right choice for you.

Ultimately, the right decision will align with who you are as a person and what you value. Knowing what you want and having a clear plan is vital, and today I talk about the importance of first having a strategy in place when embarking on the hunt for a property. I run through the questions you should be asking yourself that will help define your strategy and start you off on the front foot:

• Why do you want to buy a property?
• What does that property need to do for you?
• When is the right time for you to buy?
• What are the non-negotiables a property needs to have to suit you?

While there’s always a risk when making an investment in property, there are steps you can take to ensure that you choose a property with the least amount of financial risks. I give examples of aspects to be aware of and do your research on, such as zoning, proximity to power or train lines, property size and different titles that may affect your ability to resell.

I explain the importance of a property’s owner occupier appeal, which maximises the amount of people who may want to buy it in the future. Purchasing a property that is highly desirable for others to live in gives you the best chance of success when it comes time for you to sell.

While it’s sometimes tempting for buyers to take things at face value, doing your due diligence on a property is crucial to ensure there are no nasty surprises or future unexpected costs. I encourage you not to avoid things like ordering building and pest inspections, reading body corporate minutes or doing market analysis before you commit to a property. Understanding exactly what you’re buying will give you confidence in your decision making and save you any headaches in the long run.

At the end of the day, what makes a property good for one person will be completely different to someone else. So take the time to discover what you want and what’s achievable for you, and you’ll be on your way to finding the ideal property that truly suits your needs.

LINKS:

Check out my FREE checklist 100 Things To Look Out For At Property Inspections here

Connect with Amy:

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

Tune in to hear today's property story about a couple in their early thirties who bought a house in Mount Gambia for $279,000 and then scrimped and saved and bought a second property only seven months later for $435,000!

In this episode, they share how they saved their deposit, what they were looking for in their first and second properties, how they managed to save a deposit for two houses in such a short period of time, their buying journey and their advice for anyone entering the property market.

It wasn't their original plan to purchase an investment property, they just wanted to get into the market, and now they have positive cash flow and are so thankful they took the plunge.

Their story will encourage you to jump in and start looking today.

So, grab a pen and paper and write down their tips on living a frugal lifestyle and managing money. These useful strategies were how they were able to purchase again so quickly when the right property came their way.

LINKS:

Check out my FREE checklist 100 Things To Look Out For At Property Inspectionshere

Connect with Amy:

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

When I’m helping first home buyers look at buying a property, I often use analogies to help guide them through the decision making process. Today I run through 10 ways buying a property can be very similar to the online dating game, and encourage you to keep these ideas on file should you find yourself in similar scenarios on your home buying journey.

Buying a property can sometimes be a numbers game, and just like online dating, you might have to go on a lot of inspections, AKA dates, before you find ‘The One’. This process of meeting the not-quite-right ones, the ones who let you down or the ones that just don’t work out can be emotionally draining and it may mean you need to start all over again. But does this mean you should give up? I talk about how reassessing your strategy and getting back out there can help put you back on the right track.

Then there are those lucky moments when you find the right one straight away. It’s absolutely possible to find your match on the first occasion, but this is often when doubts creep in. Could it be too good to be true? Is there something better around the corner? Am I being too hasty? I talk about giving yourself the best chance to overcome this fear by doing your research before stepping out and really understanding what’s out there on the market.

Just like in relationships, we can become emotionally invested in a property, only to be let down when it’s not possible to obtain it. I discuss the heartbreak that comes with things not turning out, and the importance of getting back out there to find what you’re searching for. I also talk about the different scenarios that can arise that unexpectedly change our direction and set us on a new, if not better, path.

Ultimately, knowing what your values are and what you desire most is the best way to be guided towards the property that is truly right for you. While there may be setbacks and disappointments along the way, refocusing your strategy and working out what is really important will guarantee the best chance at success as you move forward on your property buying journey.

LINKS:

Check out my FREE checklist 100 Things To Look Out For At Property Inspections here

Connect with Amy:

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

Listen in today to hear all about a 26 year old from Wollongong, south of Sydney realise her property dreams and buy her first home with her partner.

She shares all about growing up in an average income household and with a mother that was very money conscious who passed along her knowledge, experience and wisdom to shape her relationship with money and mindset as an adult.

She was able to stay at home while her and her partner were saving like crazy and was able to buy their first home in the height of the covid 2021 peak pricing at approximately $780,000.

Though their relationship was fairly new when they decided to buy a home, she and her partner were on the same page with their money and property goals. This helped the process considerably with both of them writing their individual property briefs and comparing them to find they were incredibly similar.

We hear all about the process of finding and working with a mortgage broker, pricing, and the stress of loan applications. She talks about feeling demoralised early on in the inspection process due to houses selling for a hundred thousand dollars more than they were listed.

Tune in to hear all of her advice regarding how to connect with the real estate agent, add unique touches to the offer (even a signed poster of their favourite sportsman!), balancing risk with removing finance clauses and building and pest inspections, and how they found their perfect first home.

Enjoy!

LINKS:

Check out my FREE checklist 100 Things To Look Out For At Property Inspections here

Connect with Amy:

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

 In my decade of working in the property industry, I’ve come across many situations where new buyers have been given unhelpful, and at times even harmful, advice on buying property. So today I am running through five examples of bad real estate advice that often leads buyers to making costly mistakes. I share my tips on knowing who to trust and how to avoid taking the wrong information on board.

There are many people who will be willing to give you real estate advice. It may be someone you know, someone you are paying professionally, or you may even hear it from someone on a podcast. However, it’s important to be aware that there’s always a danger the advice given might be completely incorrect or misleading. Sometimes it’s too generalised, and other times it comes with a certain amount of bias.

Understanding that not all advice is good advice will help you avoid making errors in judgment and keep you on the right track in your property buying journey.

In this episode, I give you some real world examples of bad real estate advice that I’ve seen first-hand, and the negative effect they’ve had on buyers. I talk about industry professionals stepping outside their boundaries of expertise, and encourage you to be cautious when receiving advice from people who may not have true insight on the matter. I share stories about professionals giving advice within their field who got it wrong, and ended up influencing buyers in a negative way. So if something doesn't sound quite right or you're getting conflicting advice, don't just take it as gospel - even if it's from a professional.

I also talk about the different pieces of incorrect advice I’ve heard on how to deal with real estate agents, what kind of property is the smartest choice to buy, and advice on bidding.

Ultimately, bad real estate advice can come in many forms. When it comes to all the moving parts in the process of buying, knowing who plays what role is crucial. As a buyer, it’s important to do your own research, crosscheck information, fact check and double check, and acknowledge that while some advice may be generally okay, it may not apply specifically to you.

Most importantly, know that you can trust your own intuition and if something doesn't sound quite right, well, maybe it isn't.

LINKS:

Check out my FREE checklist 100 Things To Look Out For At Property Inspections here

Connect with Amy:

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook