🎧 Episode 217: Case Study: Biggest Home Buying Lessons from a Melbourne First Time Buyer

Buying your first home is a massive deal, and James, a first-time buyer in Melbourne, takes us through everything he learned along the way. From saving a deposit while living at home to making some tough calls on which properties to walk away from, he shares exactly what went into getting his own place.

In this episode, James talks about the trade-offs he had to make, why he didn't go the renting route, and how he fine-tuned his search criteria after getting out there and seeing places in person. He also breaks down what it was like buying at auction, dealing with legal complications, and making sure he was setting himself up for a solid future—not just jumping on the first thing that seemed good on paper.

For anyone trying to figure out how to actually make this whole home-buying thing happen, this chat is packed with real, practical insights. James did the work, and now he's got the keys—his story might just help you do the same.

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Episode Highlights:

00:00 - Introduction
02:13 - Meighan's special house of the week
03:28 - When did James first decide he wanted to buy a property?
04:53 - Why James chose to save for a deposit instead of renting
05:57 - How James saved up for his deposit
10:37 - How long did it take to save for a home?
12:00 - When did James start learning about the home-buying process?
13:14 - When did James start looking for a property?
14:38 - James' experience when he started attending inspections
15:59 - Did his vision for his first home change over time?
18:01 - The first property James considered, and the complications he found
23:26 - James' biggest 'aha' moments in his home buying journey
25:20 - James' preparation for the auction and the auction itself
31:31 - How James is preparing for his homeownership and the mortgage
33:49 - Was the home-buying course worth it for James? Would he recommend it to others?

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

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

➼ Join our Facebook Group to get access to free monthly live Q&A sessions
https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia

➼ 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 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.