Lessons Learned: Buying a First Home in Dubbo

Buying a home for the first time is a significant milestone, but doing so in an unfamiliar area does add quite a few layers of complexities, especially concerning affordability and market dynamics. Today, we discuss the challenges that arise when buying a first home in a regional area like Dubbo.

In this episode, we are joined by Damian Hoar — a finance analyst at Money Saver Home Loans and co-host of the Finance and Property Survival Guide podcast. With his background in finance and extensive experience in the property market, Damian brings a wealth of knowledge to this discussion.

Having bought his own first home in Dubbo, Damian tells us about the ups and downs he went through. He admits that despite getting good advice, he sees some things he could've done better, making his story so relatable to first home buyers.

So tune in to this episode and learn from Damian's story so you can get better prepared for your own home-buying journey.

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Episode Highlights:

00:00 - Introduction
02:12 - Meighan's special house of the week
02:31 - Who is our guest for today
03:13 - Damian Hoar's backstory
09:28 - Damian shares the challenges and lessons from saving a deposit for your first home
18:40 - The BIGGEST lesson Damian learned during his first home buying journey
24:22 - Why it's important NOT to let the process of negotiation impact your property decision
27:48 - Damian's experience with rising interest rates 18 months ago
29:19 - What's the definition of fixed and variable rates?
33:09 - Handling the responsibilities that come with homeownership
38:40 - How has homeownership influenced Damian's perspective on life?
40:21 - How homeownership has changed Damian's perspective on wealth and priorities
47:10 - What's the most important advice from Damian for those considering homeownership?

Resources:

➼ FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourse

➼ Visit our website https://www.homebuyeracademy.com.au/

➼ Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au

➼ Work with Veronica: https://www.veronicamorgan.com.au

➼ Looking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/

➼ Work with Meighan: https://www.linkedin.com/in/meighanwells/

➼ 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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Learn how to buy your first home without making avoidable mistakes.

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Co-Founders

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.