1️⃣ Not Understanding the Buying Process
Veronica and Meighan both reflect on how lost they were when they bought their first homes. They didn't know what happened after making an offer, relied on selling agents for guidance, and had no clear understanding of the steps involved. They highlight the importance of learning "who's who in the zoo" and not mistaking real estate agents for your personal advisors—because they work for the seller, not you.

2️⃣ Not Knowing What to Look For in a Property
Meighan admits she bought a renovator purely based on emotion—because it was across the road and felt "doable." Veronica chose a tiny studio because it was new and shiny. Both realised later that they hadn't considered how liveable or rentable the property would be in five years, or whether it met basic fundamentals like location, layout, and land size. This lesson is key: buying well requires more than a gut feeling or cosmetic appeal.

3️⃣ Failing to Understand Property Value
Both hosts assumed that asking prices or agent guides were accurate indicators of value. Meighan simply knocked a few thousand off the listed price. Veronica bought off the plan without questioning pricing at all. They stress the need to research comparable sales and understand the difference between market value, asking price, and auction underquoting. In The First Home Buyer Course, they teach you how to price property properly—because overpaying could cost you years of financial progress.

4️⃣ Underestimating Renovation Risks
Meighan took on a house raise and build under her own management—without a licensed builder—and skipped termite protection. It rendered the slab non-compliant for years. Veronica bought a home she planned to extend without checking if it was feasible, and had to completely change plans after consulting an architect. Their advice? Always consult experts before buying a property you intend to renovate, and don't make assumptions about what's allowed or affordable.

5️⃣ Believing the Agent is on Your Side
Many first home buyers think the selling agent is there to help them through the process. Meighan did too—until she learned that Queensland's property laws are "caveat emptor" (let the buyer beware), and agents legally represent the seller. While some agents may be helpful, it's critical to understand that unless you hire an independent buyer's agent, you're flying solo. They both strongly recommend getting expert guidance early—not after you've made a costly mistake.

6️⃣ Not Planning for Property #2
If you think your first property is just a starting point, you'll need to structure it accordingly. Meighan wishes she'd consulted a financial advisor before buying her first home. She didn't understand how to structure loans, avoid cross-collateralisation, or plan for future investments. Veronica shares a painful mistake: she missed out on tens of thousands in tax deductions by redrawing funds the wrong way. These oversights affected their ability to leverage future purchases—something every aspiring investor should avoid.

💡 Final Thoughts: Avoid the Mistakes We Made
This episode is a masterclass in hindsight. Veronica and Meighan created The First Home Buyer Course specifically to prevent other first home buyers from making the same costly errors. From understanding loan structuring to avoiding emotional buys, their lessons are a goldmine for any Australian preparing to buy property—especially those hoping to build wealth, not just buy a roof over their head.

🎧 What You'll Walk Away With:
• A clear view of the buying process and your role in it

• Awareness of emotional vs. strategic property decisions

• Tools for researching property values properly

• Cautionary tales on DIY renovations and project risk

• Why hiring a buyer's agent could be the best decision you make

• How today's property decisions can shape your future wealth

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