The First Home Guidebook

Today we’re hearing from a 36 year old single male who bought his first home pre-market for $985,000.00 in Windsor, Victoria. While he wasn’t always on a great income, he worked his way up the ranks and was able to boost his deposit using the First Home Super Saver Scheme.

Though he had a partner during the process of buying his first home, it was a new relationship and not considered a de facto one. The work very much rested on his own shoulders, and he talks about the ups and downs of his property journey, including the confronting procedure of setting up a financial agreement with his partner.

Working in PR and communications, he was initially earning $36,000.00 per year before progressing to a solid income in 2016. He learnt how to be financially savvy and eventually squirrelled away $200,000.00 to put towards his first home.

Embarking on the property buying journey can quickly turn into a full-time job, especially as a first home buyer. So he decided to engage a buyers advocate, who became a vital source of support throughout the process. He speaks on the importance of building a team around you to lean on, which can consist of anyone you trust - your mortgage broker, buyers advocate, friends or family members.

He runs us through the process of using his superannuation to bolster his savings, and how this helped him achieve the amount of $215,000.00 for a deposit. Knowing that a mortgage broker plays a critical part of buying your first home, he explains his process for finding one that felt right for him and provided him a sense of safety.

While determining what you want in a home is a logical process, many different feelings can come into play. He encourages us to value an emotional connection with a property just as much as a rational one, and to ensure it makes the list when you’re developing a brief for buying your first 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

Are you trying to work out how to buy your first home faster?

Are you feeling stressed and overwhelmed when looking at properties, mortgages, banks, interest rates and advice groups and just feel like the process is going to take forever?

I know it can feel so disheartening but I’m here to help.

But firstly, take a moment to really think about your own unique situation. You may not be ready to buy a house and that’s completely fine! Try not to take on board all of the pressure from your family, friends and societal influences and understand that you’re on your own journey.

But, if you’re ready, let’s explore how you can get those keys sooner!

In this episode, I’ll be taking you through how to know what you can actually afford for a house, the kinds of prices that are achievable based on your lifestyle and income, and, most importantly, FIVE ways you can save for a deposit faster (including the First Home Super Savings Scheme).

By following these five very practical and easily implementable tips, you can boost and build up your savings so much earlier than you had planned and start searching for that perfect first home before you know it.

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

Today we’re hearing from a 26 year old single female who purchased her first home for $375,000.00 in Newport, Victoria. Though she missed out on the property she had originally set her sights on, she talks about finding the silver lining in purchasing the home she now owns.

Inspired by parents who had always greatly valued owning property, she was determined to find a place to call her own. After living at home and doubling down to save for a deposit, she arrived at the point where she finally felt ready to begin the search for a property.

She shares her experience of finding a mortgage broker, her first consultation with them and the guidance they initially gave. Once she was ready to step out and begin the online property search, she ensured she knew what she really valued in a home. She talks us through her thought process around all the different aspects of a property as she began the hunt.

Though she felt the heartbreak of missing out by $5,000.00 on the first property she put an offer on, she forged ahead with determination to find the right one. Finding a property in Newport with even more ideal features, she was met with a rather unusual situation. She explains how on this rare occasion, her request for a finance clause was accepted, despite the circumstances of this particular contract.

She talks about her future plans for the property, what she’s looking for in her next home, and shares the lessons she’s learnt along the way. The key takeaway - always ask questions. When it comes to every step of the process, nothing is ever too silly and you’ll always be glad you asked. Becoming informed and armed with the right knowledge will set you up for the best possible experience and exciting possibilities for the future.

LINKS:

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

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

I am currently embarking on my third renovation, but with my first? I had zero clue. I hadn’t even watched The Block! As a first home buyer, you might purchase a property that needs renovating, and this can be a daunting process. So in this episode, I talk about five lessons I learnt from renovating, so that you can learn from them.

The first and biggest lesson I learnt was the importance of knowing who is doing what, and when. You need to figure out what tradies you need, then you need to find them (referrals help!) and then you need to map out who needs to be onsite, when. I share the key questions you need to ask so you can project manage each of the tasks seamlessly.

Secondly - moving things is expensive! Plumbing, taps and waste outlets are just a few examples of this. Keeping things where they are will make things much more cost effective.

The next lesson I learnt was negotiation and knowing when you can get a better deal. I share an example that saved me money and my top tip using Google Lens!

Fourth lesson? Everything needs to be planned, detailed, drawn and explained meticulously. Figure out which way the draws are going, how high things need to be, the way the the cupboards open and where the power points need to be. The more effort youput in at the start, the better final outcomes.

The final lesson is to stand up for yourself. Sometimes, mistakes will happen, no matter what. In these instances, you need to be confident to get things put right. I share an experience during both a bathroom and kitchen renovation and how glad I am that I stood my ground in both those circumstances.

If you’re diving into a renovation, these top five lessons will make the whole process so much easier!

LINKS:

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

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

In this episode, we’re hearing from a couple in their early 40s from Melbourne and Colombia, who bought their first home in Reservoir, Melbourne in 2022 for $1,300,000.00. Whilst they had a healthy combined income, it wasn’t all smooth sailing, and they learnt a lot about the hidden rules of the real estate industry along the way.

Living with two children in a small two-bedroom apartment during the pandemic, they wanted more space for the kids to get out into the backyard and kick a ball around. So, they began the hunt for their family home in the northern suburbs of Melbourne.

They weren’t initially on the same page with buying a house, and found their values were a little different. However, after talking a lot and putting different ideas on paper, they found a way to accommodate one another’s needs.

While they found so much value in engaging a mortgage broker, they discuss the headache of missed deadlines by the bank, which in one instance prevented them from bidding on the first house they found. They share their not-so-nice experience with building inspectors, and encourage us to hold our cards close to our chest when it comes to dealing with real estate agents. We’re reminded that while agents are a necessary piece of the puzzle, they may only have the seller’s best interest in mind.

They talk about their gratitude for their buyer’s advocate, who helped them avoid making a bad decision on a property, and ultimately encouraged them to buy the house they now own. They have learnt so much about the importance of keeping spreadsheets of expenses throughout the whole process, which also helped them greatly when undertaking renovations and upgrades throughout their new home.

They now know that the process of buying property is very much like a game, with an almost secret set of rules. They have also seen the value of getting professional help along the way, whether it’s from a mortgage broker, a buyer’s advocate or an online course. While the journey of buying a home can feel daunting, they encourage people to take things as they come, and make sure you’re having fun along the way.

LINKS:

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

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

As a first home buyer, you probably have a lot of questions. Who do you turn to for your property questions? Do you need to seek professional guidance? Can your  friends or your family help? Well, I’m excited to say you can now turn to me.

There is no such thing as a silly question when it comes to property, and today I’m answering some great ones I’ve received from listeners this week.

I give my advice to a 22-year-old saving to buy their first home in the near future, who feels overwhelmed and lacking motivation to stick with their goal. I share my thoughts on having really specific goals in place, and breaking down the details to make it easier to stay on track.

There are so many moving parts in the purchase of a property, it’s easy to get confused about who does what. So is it your legal representative’s job to measure the boundaries of your property? I give some clarity on what your legal rep generally will and won’t do, and suggest what can be useful to discuss with them during the process.

The next question I answer is around credit card limits, and how this affects borrowing capacity. I give an overview of the idea of future debt, and how debts and liabilities can reduce your borrowing capacity. I also encourage speaking with your mortgage broker early on in your home buying journey to help you put the best strategy in place.

Are all contracts the same? I discuss the importance of reviewing your contract carefully and being aware of things like special conditions and disclosures on a specific property. I explain your right to request changes or deletions, and encourage you to take steps to understand how any conditions may impact you.

I hope you gain some valuable insights from today’s episode, and begin to feel more prepared as you start the journey of buying your home.

LINKS:

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

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

If you're in the market for a new property, you may have heard the term "off market" thrown around. Essentially, an off-market property is one that is not listed publicly on a real estate website (such as realestate.com.au or domain) or advertised widely for sale. Instead, it's offered for sale through more private channels such as personal networks, word of mouth, or private agent listings.

In this episode, we'll explore 15 reasons vendors might consider selling off-market, why it’s important for you to understand this process and the impact it will cause on how you approach the sale and negotiation.

There is a misconception that a vendor must sell their property online to get the best result but that’s not always the case. Not everyone is motivated purely by price and it may be their specific circumstances that make selling off market a much better option.

So why do you need to know all of these reasons why a vendor would sell off market? Because each reason is very relevant for you to know as you need to understand any restrictions on access, if it’s tenanted, if the property is exclusively through one agent or multiple or if there are any predetermined time frames and urgency around selling.

If you're in the market for a new property, it's worth keeping an eye out for off-market listings, as they can sometimes offer unique and exciting opportunities that aren't available through traditional channels. However, it's important to work with a trusted real estate agent who can help you navigate the off-market buying process and ensure that you are making a smart and informed decision.

LINKS:

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

Website:www.thefirsthomeguidebook.com.au

Instagram: @the.first.home.guidebook

Buying your first home is such an exciting milestone in your life. I’m always incredibly excited for my clients who are beginning their property journey but I know how overwhelming the process can become, so I’m here to help you avoid any pitfalls and ensure you’re making the best decision for you.

In this episode, I'm going to explore three common first home buyer mistakes I frequently see people making. Mistakes can happen at every stage of the home buying journey so I want to help you learn from others and save yourself a lot of time, disappointment, regret, missed opportunities and money.

One of the biggest mistakes that first-time homebuyers make is not surrounding themselves with the right property professionals. You have to surround yourself with a team of professionals who can help guide you through the home buying process, from start to finish.

It's so important to be realistic about how much you can afford to spend on a home, and to factor in all of the associated costs, including property taxes, insurance, maintenance, and repairs, and limit your search to properties that sit within this price. You’ll waste so much time if you don’t get realistic!

I completely understand how easy it is to get overwhelmed by the home buying process and put it off, but delaying can result in missed opportunities or higher costs. Use this episode as your motivation to stop procrastinating and start taking action so you can find the right home for your needs and budget.

You’re embarking on such an exciting and often intimidating experience. I know it may seem straightforward but there are so many opportunities where buyers can make mistakes that cost them money and enormous amounts of stress. Make sure you take notes so you can begin your property journey with confidence and avoid these really common home buying mistakes.

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