What's the secret to overcoming the big 'C' in property buying? In this episode, we dive deep into the art of compromising when it comes to purchasing your first home.
 

We unpack a recent survey by Bankwest, revealing that a whopping 78% of young aspiring homebuyers are willing to cut back on property features to secure a home. It's a reality check that compromising is not just common; it's essential. Whether it's the location, property size, or specific features, something has to give.

Throughout the discussion, we highlight the three P's: Price, Property, and Position. Every homebuyer, regardless of budget, faces the challenge of deciding which of these P's can flex. We explore generational differences in attitudes towards compromise, noting that while Gen Z and Millennials might be more flexible, Boomers tend to stand firm on their preferences.

By the end of this episode, you'll see that compromising doesn't mean settling—it's about making smart choices. Tune in to get actionable tips and a better understanding of how to balance your needs and wants.

Episode Highlights:
00:00 - Introduction
02:02 - Meighan's special house of the week
04:20 - The three P's of property buying
05:09 - Survey insights on compromises
08:15 - Compromises on Price
12:13 - Compromises on Property features/preferences
14:18 - Compromises by generation and the underlying factors
20:00 - Advice on managing compromises in home buying
Resources mentioned in this episode:
 

➼ The Bank of Mum and Dad: Examining the Opportunities and Potential Pitfalls https://homebuyeracademy.com.au/podcasts/133

➼ Young West Aussie home buyers willing to sacrifice life's little luxuries https://www.bankwest.com.au/about-us/media-centre/news/young-west-aussie-homebuyers-willing-to-sacrifice-lifes-little-luxuries

Resources:
 
➼ FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourse
 
➼ Meet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokers
 
 
➼ Learn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBG
 
➼ If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast [email protected]
 
➼ 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/
 
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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  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.

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