Buying your first home is a big undertaking in itself and not knowing the common terms in property is sure to make your journey a lot more difficult than it should be.

In the first episode of this two-part series, we're going to give you a real estate user's guide by interpreting a whole bunch of the commonly used terms so that you don't feel you're trying to understand a foreign language.

There's a whole lot of things to cover so let's get into it and we'll see you on the inside!

Episode Highlights:
• What are the types of Real Estate Agents and what do they do? [02:08]
• Be aware of Property Spruikers [04:50]
• Conveyancers focus on property matters [07:03]
• What is a Lenders Mortgage Insurance (LMI) & who does it benefit? [09:19]
• 'Equity' sounds cool, but what is it exactly? [11:01]
• Stamp Duty or Transfer Duty [11:54]
• A look into Land Tax & Unimproved Land [12:53]
• What are Purchasing Costs? [15:44]
• Explaining 'Offset Accounts' [16:54]
     • Redraws [17:44]
• What the hell is 'Loan Structure'? [18:52]
• Understanding Leverage [20:55]
• Defining Capital Growth [21:41]
• Capital Gains [24:37]
• What is Capital Gains Tax (or CGT)? [25:26]
• Looking at Capital Gains Tax Concession [26:57]
• Negative Gearing [28:13]
• Depreciation [30:28]
Link/s from the Show
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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?