How to Buy a House: Real Answers to First Home Buyer Challenges

Buying your first home in Australia can feel overwhelming—especially when you're juggling competing goals, tight budgets, and confusing advice. In this episode of Your First Home Buyer Guide, Veronica and Meighan tackle real listener questions covering everything from rentvesting fears to interstate moves, choosing between apartments and houses, navigating government schemes, and avoiding costly off-the-plan pitfalls.

With almost 50 years of combined Buyer's Agent experience, they share practical, easy-to-apply tips so you can make confident decisions, minimise risk, and buy a property that truly works for your future. Whether you're at the very start of your journey or stuck on your next step, this episode is packed with expert guidance to help you buy smart.

1. Rentvesting vs. Buying Your Own Home – Balancing Risk and Reward
One listener's dilemma around rentvesting highlights common fears—like taking on debt after a lifetime of avoiding it, and concerns about bad tenants eroding emergency funds. Veronica and Meighan explain why the first property you buy is critical—if it's not a quality asset, it won't set you up for future purchases. They break down debt as a tool, not just a burden, and stress the importance of capital growth over short-term rental income. You'll also learn practical risk-reduction strategies, from buying in areas with strong tenant demand to having robust landlord insurance.

2. Building Your Local Support Team When Moving Interstate
If you're relocating, local expertise is non-negotiable. A listener moving from Victoria to Far North Queensland needed guidance on finding the right team. The hosts explain why property rules, building regulations, and risks (like cyclones and humidity) vary dramatically between states—and why a professional who's "been through it" is worth their weight in gold. They share how to vet conveyancers, buyer's agents, and other experts to avoid expensive mistakes in unfamiliar markets.

3. Choosing Between an Apartment or House – and Where to Buy
Another listener faced three options: a Northern Beaches apartment, a Central Coast house, or a Gold Coast property to rent out until moving later. Veronica and Meighan explore the pros and cons of each, introducing the stepping stone strategy—buying a property that works for the next 5–10 years, then upgrading when your circumstances change. They warn against assuming a property is a good buy just because you might live there one day, and explain why timing the market cycle is crucial for coastal areas.

4. How Much Deposit You Really Need
Confusion over whether a $30k deposit is enough sparked an important discussion about government schemes, low-deposit loans, and lenders mortgage insurance (LMI). While buying sooner with 5% is possible, the hosts caution against leaving no buffer and risking negative equity. They cover when paying LMI can make sense, the difference between the federal deposit guarantee and shared equity schemes, and why market conditions should influence your decision to buy now or keep saving.

5. When You're Stuck Waiting on an Off-the-Plan Development
Buying land in a subdivision that hasn't started is like buying off-the-plan—uncertainty is high, timelines blow out, and developers may delay to chase higher prices later. For a listener three years into the wait, the advice is clear: get specialist legal advice, understand your contract, and know your exit options. Sometimes, the smartest move is to start fresh—but first, compare whether walking away makes financial sense compared to sticking it out.

6. Starting from Scratch – Where to Begin
Many buyers jump into property searches without knowing the correct order of steps. The final listener asked the golden question: "Where do I start?" Veronica and Meighan stress that your first move is building the right team, not making an offer. They reference earlier episodes and their full 10-step system, explaining how a clear process removes stress, stops you from being manipulated by agents, and ensures you verify every claim with facts—not hearsay.

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