💡 Why Borrowing Strategy Should Start Early
David explains that too many first home buyers approach brokers or banks only after they've saved a deposit or found a property. But by then, they may have already missed critical opportunities to set themselves up for financial success. Your borrowing strategy should begin as soon as you start planning to buy—not when you're ready to apply.

🧠 The Five Elements of Mortgage Strategy
According to David, effective borrowing strategy includes five core components:
1. Money Management
2. Risk Management
3. Tax Deduction Optimisation
4. Smart Use of Offset Accounts
5. Future Property Holding Capacity

Getting these right helps you avoid debt traps, manage risk, and maximise future investment potential.

🔮 Think Long-Term: Property Goals Shape Your Strategy
Instead of just focusing on getting a loan approved, David encourages buyers to consider where they want to be in 10–30 years. Will your first home become an investment later? Should it be bought in your name or a trust? These decisions can affect tax outcomes and borrowing power for future purchases.

🚫 Why Paying Off Your Loan Early Can Hurt
It's counterintuitive, but rapidly reducing your loan balance might be a bad move. David shares how using an offset account to "store" extra repayments gives you flexibility, preserves tax deductibility, and positions you better if you later convert your home into an investment property.

🏠 Your First Home Must Be a Smart Investment Too
Even if you're buying to live in it, your first home should still tick investment boxes. Why? Because many first home buyers use this initial purchase as a stepping stone. Strong capital growth and future rental appeal matter—even in your "forever home."

💰 Interest Rate Isn't Everything
Low interest rates attract attention, but focusing only on the number can cost you long-term. David points out that online lenders may offer rock-bottom rates, but lack vital features like offset accounts or strategic guidance. The best strategy often includes a mix of fixed and variable loans tailored to your future goals.

🧑‍💼 Why a Good Broker is Essential
A strategic mortgage broker does much more than submit your application—they help craft a holistic plan. Unlike bank staff, brokers can access a wide panel of lenders and are legally required to act in your best interest. They can also advise you on how to adjust debts or savings habits to increase borrowing power.

🛑 Risks of Online Lenders
Online lenders are attractive for their rates and convenience, but they often cut corners on advice. David warns that choosing a lender based on ads or rates alone could mean missing out on key features, strategic setup, or even being locked into an unsuitable loan.

⏱️ Timing and Processing Speed Can Matter
In a competitive market, timing can make or break a deal. David shares how brokers can steer you toward lenders with faster turnaround times—crucial when you need quick pre-approval to secure a property or meet tight settlement deadlines.

❌ Avoid These First-Time Buyer Mistakes
From rushing into a purchase to ignoring future tax implications, David outlines the most common traps first home buyers fall into. The cure? Planning. Spend 4–8 weeks preparing with your broker and buyer's agent (if you use one) to ensure you're not just mortgage-ready, but strategy-smart.

🏋️ Get Financially Fit Before You Buy
Borrowing capacity isn't just about income—it's about your overall financial health. David shares practical tips like reducing credit card limits, avoiding personal loans, and maintaining stable employment to improve your position in the eyes of lenders.

⚖️ Brokers Are More Regulated Than Banks
Most buyers don't realise that banks aren't held to the same standard as brokers. David points out that brokers must follow strict disclosure and compliance laws (including the Best Interests Duty), giving you greater protection and transparency in the borrowing process.

🚦Start Planning—Even Without a Deposit
One of the most powerful takeaways from this episode: it's never too early to start. Even if you're years away from purchasing, a strategic broker can help you chart a path, improve your borrowing profile, and avoid decisions that could delay your home ownership dreams.

🎧 Final Thought:
A well-planned borrowing strategy for first home buyers is the difference between struggling with your loan and building wealth. This episode is essential listening for anyone who wants to avoid financial regrets and build a solid foundation—so don't miss it!

👉 Ready to get started? Check out THE First Home Buyer Course.