Saving a deposit takes years of hard work. But in one moment of excitement, a Victorian first home buyer risked losing their entire $43,000 deposit — all because of a rushed decision and a little-known trap in the fine print.
In this episode, Meighan and Veronica unpack how a rebound auction purchase turned into a potential disaster. The buyers had done everything right for their first property — getting the contract reviewed, checking reports, and lining up the right advice. But after missing out at auction, they rushed into bidding on another property an hour later without the same due diligence. The result? They bought into a stratum title, a property type not covered by the Victorian Homebuyer Fund (VHF) scheme they were relying on.
Here's what we cover — and why it matters:
🏚 Strata vs Stratum: What's the Difference, and Why Does It Matter?
At first glance, "strata" and "stratum" sound almost identical—but they're worlds apart in the eyes of lenders and government schemes. We explain what stratum title is, why it's a riskier form of ownership, and how overlooking this detail left one buyer out in the cold.
⚠️ Government Schemes & Fine Print: Could You Be Caught Out Too?
Shared equity programs like the Victorian Homebuyer Fund (and the soon-to-launch federal Help to Buy) promise big opportunities—but only if you play by the rules. We break down how the fine print works, what property types are excluded, and why missing one detail could undo all your planning.
💸 The $43K Mistake: What Happens If You Skip the Basics?
This buyer's biggest error wasn't bad luck—it was skipping the steps that would've protected them. From failing to get a solicitor's review, to assuming the scheme would cover any home, we walk through the chain of small missteps that snowballed into a $43,000 risk.
🏡 Rebound Buying Regret: Why Emotions at Auction Are Dangerous
Losing out on a dream property hurts—but rushing into another auction within the hour? That's how regret happens. We show you why "rebound buying" is one of the most dangerous traps for first home buyers, and how to stop adrenaline from driving your decisions.
✅ How Can You Protect Your Deposit and Buy With Confidence?
So what's the solution? It comes down to process. We share the essential steps—getting the right checks, reading the fine print, and lining up advice before you bid—so your savings are safe and your first home story doesn't end in regret.
🎯 By the end of this episode, you'll know exactly how to avoid costly rookie mistakes, protect yourself from fine-print traps, and follow the right process — even when emotions are running high.
00:00 – Introduction
02:22 – The Home Buyer's Tale Begins
03:14 – Understanding Stratum Title
05:21 – The Costly Mistake
07:42 – Government Schemes and Their Pitfalls
09:39 – Read the Fine Print: SuperSaver Scheme Mistake
10:34 – Shared Equity Schemes Explained
15:36 – Lessons from the Buyer's Experience
20:07 – Final Thoughts and Course Promotion
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