Are you prepared for the hidden threat lurking beneath the surface of your first ever home purchase? Brace yourself for an eye-opening discussion on the implications of negative equity on you and your homeownership.

Now, you might be wondering, "what is negative equity?"

Negative equity isn't just a fancy term—it's a situation that can disrupt your plans and cause financial stress. If you're a first-time homebuyer, negative equity can be especially worrisome, as it affects your ability to build equity and achieve financial stability.

Imagine this: you just bought your dream home, and suddenly the value of the house starts going down, putting you in a situation where you owe more on your mortgage than what the home is actually worth.

That's negative equity, and it can be a real nightmare.

But don't fret!

In this episode, we break down negative equity in simple terms, explaining its consequences and providing practical tips to avoid or mitigate its risks. Don't let negative equity catch you off guard! Tune in and take control of your financial future by safeguarding your home investment.

Episode Highlights:
00:00 - Introduction
02:35 - Meighan's special house of the week
03:20 - What is negative equity?
08:12 - The best advice for riding through downturns in the property market
12:36 - How can deposit guarantees impact property value and buyer risk?
15:10 - What is a mortgage prisoner?
20:00 - Good asset selection is the best way to manage risk
23:11 - The importance of choosing the right property
25:37 - What are some key strategies for building a financial cushion?
30:10 - Why you shouldn't be scared of the banks
Resources mentioned in this episode:

➼ First home buyers most at risk of negative equity, especially if they bought with low deposits in 2022

➼ FREE TRAINING: How to make an educated decision so you buy your first home with the right amount of debt 

➼ Learn how to buy property without making a mistake with our 10-step online course for first time home buyers

➼ Looking for a Sydney Buyers Agent?

➼ Work with Veronica:

➼ Looking for a Brisbane Buyers Agent?
➼ If you have any questions or would like to be featured on our show, contact us at: [email protected]
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!
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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

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