While some first home buyers are lucky enough to find the perfect property & place to buy in, there are also a number of those who don't - but there are options.

In this episode, we're going to discuss choices you have if you can't afford to buy where you really want to live. We're covering rent-vesting, co-ownership and getting a guarantor for your loan, along with their pros, cons, and risks involved.

So, if you're a first home buyer who needs a little push in the right direction, tune in to today's episode for advice, tips, and resources.

See you on the inside!

Episode Highlights:
1. Option #1: Rent-vesting [02:47]
     • A chance to "try out" a property before settling down

     • The deductibility of expenses in holding the property [06:11]
     • Thinking long-term on a property that is
        investment-grade [08:20]
     • The importance of choosing a good accountant & getting
        great advice [09:35]
     • Get the most tax benefits from brand new properties
     • Make sure you have future, strategic plans coming into the
       market [14:01]

2. Option #2: Parental guarantors [18:48]
     • Consequences of buying a bad asset & debt build-up [21:25]

3. Option #3: Co-ownerships [24:21]
     • Working out the "what-ifs" right from the start [26:09]
     • Tenancy in Common vs Joint Tenancy [28:28]
     • Put everything on paper - contracts, agreements, and
       ownership structure [31:43]
Links From the Show:
• Get our FREE First Home Buyers course! (https://www.homebuyeracademy.com.au/freecourse)
• Our article on Rent-vesting (https://homebuyeracademy.com.au/PREPARATION/rentvesting)
• Our article on choosing to buy a house or apartment (https://homebuyeracademy.com.au/ACTION/apartment-should-you-buy)
• Our article on parental guarantors (https://homebuyeracademy.com.au/PREPARATION/parents-guarantor-mortgage)
• Our article on why you should never buy off-the-plan (https://homebuyeracademy.com.au/ACTION/why-you-should-never-buy-off-the-plan)
Connect With Us
• Home Buyer Academy Website (https://www.homebuyeracademy.com.au/)

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!
How ready are you to buy your first home?

Veronica Morgan & Meighan Wells 

Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.

Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!

Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.

We are here to guide you through your home buying journey

How ready are you to buy your first home?