Specifically, we explore a real-life story where a HECS debt nearly derailed a first home buyer's purchase, shedding light on the crucial lessons to be learned.
Throughout the discussion, we bring up some of the common blunders such as relying heavily on a broker without fully understanding all the associated costs, feeling the pressure to buy due to outside influences, and underestimating the financial cushion needed for unexpected expenses. Our aim is to provide practical insights to help you steer clear of these pitfalls when it's your turn to enter the housing market.
Don't let avoidable mistakes stand in the way of buying your first home—tune in to understand the importance of following the right process. Let's dive in!
02:23 - Meighan's special house of the week
04:36 - What is the headline of today's disaster case study
13:19 - Mistake #1: Assuming that engaging a broker will streamline the home buying process
14:17 - Mistake #2: Not knowing the amount of money needed
15:45 - Mistake #3: A bad broker
17:51 - Mistake #4: Buyer did her research online but you still don't know what you don't know
20:54 - Mistake #5: Choosing to buy a property because of FOMO
24:51 - The dangers of not fully understanding the fees you have to pay when buying a property
27:27 - Where does the responsibility of the buyer start when buying a property
➼ Your First Home Buyer Guide Episode #58: How This Family Could Have Avoided Losing Their Entire House Deposit https://homebuyeracademy.com.au/podcasts/058
➼ Your First Home Buyer Guide Episode #82: Buyer Beware: First Home Becomes Costly Nightmare https://homebuyeracademy.com.au/podcasts/082
➼ Gen Z'er reveals how her HECS debt almost shattered her real estate dreams https://bit.ly/4aiRm6W
➼ 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/
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.
