Should you buy a property now or wait? This is a question which I get pretty much every day, and the short answer is: it depends. More specifically, it depends on what is right for you within your own personal situation.In today's episode, I unpack the two key things that should be considered when deciding whether to buy now or wait. When it comes to thinking about buying property, a lot of people first weigh up their financial position and whether they have enough to put towards a deposit. However, I talk about the importance of emotional readiness and how this is the first thing that should be assessed. What are your motivations for wanting to own property? Are they intrinsic to you, or influenced by external influences such as family or societal expectations? Knowing your true objectives for purchasing a property is crucial when taking the significant step of entering the property market.I then discuss financial readiness, and the importance of matching your property aspirations with your financial capabilities. If these two things are not in alignment, you may need to consider things like changing your expectations, improving your financial position or consider alternative strategies such as rentvesting.While emotional or financial readiness are mostly within your control, there are many things within the property market that are not. I talk about the different factors that often scare people off buying, but remind you that even the top experts’ predictions on market movements often don’t come true.I encourage you to assess your own comfort level with the different risks associated with buying a property. Would you be in a worse position if you bought a property now and its value dropped a bit, or if you waited too long and the market's supply dwindled? Staying focused on your own goals and what you’re willing to risk will help you avoid the sway of too many external factors.At the end of the day, there is no rush. If you weigh it all up and decide the time isn’t right, just wait. However, if you do decide to take the leap into property ownership, I encourage you to know your values and stick to your own intuition. It’s your journey, and your choice as to when you embark on it. You’ve got this! LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy: Website: http://www.thefirsthomeguidebook.com.au/ (www.thefirsthomeguidebook.com.au)Instagram: https://www.instagram.com/amy_lunardi_property/ (@amy_lunardi_property)

Everyone loves a good bargain. Whether it's scoring a discount on a new fridge or finding a great deal on a vacation, saving money is always satisfying. But when it comes to buying a property, a bargain becomes especially appealing when you know you’re about to spend a significant amount of money. In today’s episode, I’m talking about what would potentially define a bargain property and what to be aware of. While you may get lucky in stumbling across a property that’s going for less, there’s always a chance it’s a bargain for a reason.To start with, I define a bargain property as one you can purchase for significantly less, or at least a fair bit less, than what you consider to be its market value. You might want to determine market value through doing a comparable sales analysis and benchmarking that property against similar other recent properties that have sold. Alternatively, you might determine its worth against your own personal values and consider it to be less than what you’d be prepared to pay for it. Whichever way you look at it, it’s important to consider the factors that might be contributing to a property’s bargain price. I run through the four main categories that you should keep in mind:Vendor motivation - when the seller is prepared to accept a lower offer due to their personal or circumstantial factors. This is less a reflection on the property and more on the vendor’s situation. Market timing - when external events create opportunities for buyers to purchase at a discount. Luck - you might just be in the right place at the right time where, for example, a previous buyer’s finance falls through and an auction passes in to you. Property characteristics - when there are inherent issues in a property such as a less desirable location, structural issues or a need for costly renovations. I also talk about off-market properties, and how even though many buyers assume vendors will be more willing to negotiate, it’s certainly not always the case. In fact, some sellers may even demand higher prices for selling off-market.Ultimately, it’s important to know your priorities. A property that aligns with your strategy should come first. From there, you can determine whether you’re willing to pay what the seller is asking, or continue your quest in finding the property that ticks all your boxes.LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy:Website: https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram:https://www.instagram.com/the.first.home.guidebook/ ( @the.first.home.guidebook)

Today we’re hearing from a 27 year old who bought her first home in 2021 with her partner for $606,000.00 in East Corrimal, New South Wales. They stumbled across the Government 5% first home guarantee scheme which allowed them to purchase their home with only a 5% deposit.We hear about the two-year journey she and her partner embarked on to save for a deposit. While they eventually saved a decent amount of money to put towards a purchase, the change in the property market in 2021 saw prices skyrocketing and becoming unattainable for them. She talks about how they had to change their expectations and create a more realistic brief for what they wanted.Working with their mortgage broker for 18 months before searching for a property helped them put things into motion quickly when the time came. However, she shares how she came across the 5% home guarantee scheme herself, and how her mortgage broker had actually been unaware of its existence. She emphasises that while it’s important to engage professionals, you should still do your own research without relying solely on them.They only had put an offer on one other property prior to the one they now own, and she puts it down to being extremely prepared when visiting open homes. Knowing exactly what you’re looking for and what you value will mitigate a lot of the stress that can come with hunting for the ideal property.She shares words of wisdom around trusting your instinct, being flexible when circumstances change and the power of educating yourself in order to make well-informed decisions.Enjoy!LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy:Website: https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram:https://www.instagram.com/the.first.home.guidebook/ ( @the.first.home.guidebook)

When it comes to buying a property in Australia, there are two main methods of sale: auctions and private sales. While some buyers may be hesitant to participate in auctions due to fears around emotional stress, others may be daunted by the complex process of a private sale. Ultimately, it’s important to understand the key differences between these methods so that you can better understand and weigh up your options.Today I run you through the benefits and drawbacks of auctions and private sales, and discuss which method may be better suited for different situations.Auctions can be scary, and I’ve had my fair share of nerve-wracking moments when bidding. However, while it feels high-pressure and the contract can’t be subject to conditions, there are benefits to taking the auction route. I talk about specific rules that auctions must follow in Australia, and how it creates a transparency that gives buyers a level of confidence. I also discuss how auctions are driven by the highest price, rather than which buyer has better terms or requests. Private sales encompass any method of sale that is not an auction, such as expressions of interest, sale by set date or off-market properties. While private sales offer more flexibility in terms of conditions and due diligence, this method has its own set of disadvantages. This includes not having as many standardised rules as auctions, and each agent often having a different process for handling offers. This can create a lack of transparency that makes gauging the competition and making informed decisions difficult. While I personally favour one method over the other, both have their benefits and drawbacks. Thoroughly understanding the nuances of each is what can help you navigate the buying process with more confidence and peace of mind. At the end of the day, don’t let fear influence your decisions or have you shy away from amazing opportunities. Once you’re informed on how the different methods work and know what to expect, you can move through the property buying journey with confidence and a trust in your own instincts. LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy:Website: https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram:https://www.instagram.com/the.first.home.guidebook/ ( @the.first.home.guidebook)

I’m excited today to bring you Tash from Tash Invests to share her property story. She is 25 years old and bought her first property a few years ago in Perth for $295,000, whilst on an income of $75,000 a year. She lived in it for a little while before moving interstate, and is now a rentvestor who receives positive cashflow from that property.Tash bought her first property on her own for $295,000. She was inspired and motivated by her parents and grandparents who all invested in property and would often go to open house inspections for fun. She had a very good idea about what she wanted, the area she wanted to live in, and that she only wanted to live in it for the first year.She didn’t have any long term plans at that point but didn’t want to push her mortgage too high to leave her open and free to pursue other interests. She started saving at 14 years old and had $70,000 ready for her first deposit. She was able to purchase her home with a 20% deposit (along with the First Home Buyers Grant) and had enough left over to have a buffer in case of any emergencies. Tash takes us through finding the property, using a mortgage broker (in reverse!), dealing with the seller and placing an offer, opting for a fixed interest rate, and rentvesting. Listen in to learn all of Tash’s tips and advice for purchasing your own first home and ponder for yourself how rentvesting can give you the freedom and space to pursue whatever life throws at you (while having a safety net!). LINKS:Connect with Tash:Website: https://tashinvests.com/ (https://tashinvests.com/) Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy:Website: https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram:https://www.instagram.com/the.first.home.guidebook/ ( @the.first.home.guidebook)

You may have heard of a buyer’s agent, but given their popularity in Australia is fairly recent, you may be wondering what they actually do. Today I’ll be running through what a buyer’s agent offers and why you should consider using one as a first home buyer.While those looking to sell their property will usually engage a real estate agent to work on their behalf, many buyers face tackling the property purchase on their own. They’re often unaware of the services out there that can provide them with much-needed support on their journey.In this episode, I explain the role of a buyer’s agent and how you could benefit from engaging one. From helping you to create a property brief to handling negotiations with the seller, a buyer’s agent is a valuable asset whose objective is to help you navigate the complex process of buying a home - as well as making sure you find the right one.I take you through the different services a buyer’s agent will offer, how to choose the right one and what you can expect to pay. Though it can be daunting to imagine having the extra cost, using a buyer’s agent can reduce the chance you’ll make a mistake that costs you financially.While you can absolutely take on the buying process alone, I encourage you to consider working with a professional whose guidance will likely save you time, money and stress in the long run.I hope this episode gives you valuable insight on the options available to you, so that you can achieve the best possible outcome on your property buying journey. LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy: Website: http://www.thefirsthomeguidebook.com.au/ (www.thefirsthomeguidebook.com.au)Instagram: https://www.instagram.com/amy_lunardi_property/ (@amy_lunardi_property)

Today we hear from a 30-year-old single female who bought a two-bedroom apartment in Elwood, Melbourne for $640,000.00. Though she was excited to be checking a property purchase off her life to-do list, she felt she rushed the decision and offers some of the wisdom she gained in hindsight. As a self-employed photographer on a fluctuating income, she understood the potential risks involved with buying a home on her own. However, owning a property had always been a priority and she forged ahead, managing to save a substantial amount of money to put towards a deposit.Though she had initially made up her mind to purchase a property in the country, she ended up evaluating her lifestyle and decided to look for properties in Melbourne’s northside. She shares how the competitive property market drove her to expand her search to other areas, which led her to the home in Elwood that she now owns.The auction process can often be a deflating one, with so many other buyers in attendance to compete with. She talks about the fatigue she experienced from losing out on properties she loved, and how this influenced her to go higher than her original budget to secure the property she ended up buying.Her elation after a whirlwind purchasing process quickly settled after she moved into the property and realised that it wasn’t her ideal home. She talks us through her emotions and thought process during this time, and how she obtained a clarity call from an industry professional to help ease the anxiety and regret she felt around the decision she’d made.She shares some valuable wisdom on knowing your strategy for the future, being patient and waiting to find a property that you are excited to call home. LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy:Website:https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram: https://www.instagram.com/the.first.home.guidebook/ (@the.first.home.guidebook)

With so many questions and uncertainties around buying your first home, it's important to seek advice and ask as many questions as possible to ensure you're making informed decisions. Today I’m answering some great questions I’ve received from listeners, to hopefully help you move through the first home buying process with much more confidence and knowledge.The first question I address is around negotiating a purchase price, particularly if the property is found to have defects. I break it down into two parts, the first being around whether we can negotiate down on price or ask the vendor to repair those items. I dive into the two types of sale methods that determine how and when to approach these negotiations and the risks involved in the process.Secondly, can the vendor pull out of the contract if they're unwilling to fix what's previously outlined in that contract? I discuss what the vendor can and can’t do and the importance of having a well-worded contract with specific conditions to mitigate the risk of things turning sour. Lastly, I answer a question from a buyer who is seeking clarity on the two types of deposits involved in a purchase. I explain the difference between the deposit paid to the bank and the deposit the real estate agent receives under the contract. I run through how it all works with some examples to reduce the confusion that buyers commonly experience around this matter.If you have any questions that you would like covered in the podcast, please reach out and remember that chances are, if you have that question, somebody else probably has it too!LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy: Website:https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram: https://www.instagram.com/the.first.home.guidebook/ (@the.first.home.guidebook)

Today we hear from a 28 year old who bought a one-bedroom apartment with his partner in Woolloomooloo for $975,000.00. In this episode, he talks about how building wealth was his primary motivation for buying a property, and why he chose to go down that road instead of investing in shares. He also talks about desiring the safety of owning a property, rather than dealing with the lack of security around renting. He explains how he and his partner were able to put down a 20% deposit, and how it allowed them to save money by opting for the land tax option over paying stamp duty. Going into the property search, he and his partner had a clear idea of what they wanted in a property. He talks about what kind of non-negotiables they arrived at, and while it did limit the options of where they could buy, it helped narrow down the search and lead them to their ideal home. While they were extremely lucky to have been able to purchase the first home they put an offer on, he talks about how emotionally draining he found the overall process. Negotiations with the real estate agent proved to be particularly stressful, and he speaks about what he would have done differently in hindsight.You’re going to gain a lot of useful insights from this conversation on approaching the buying process with a clear strategy, and keeping your head on straight when curveballs come your way.LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy:Website:https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram: https://www.instagram.com/the.first.home.guidebook/ (@the.first.home.guidebook)

There are many aspects to take into consideration when buying your first home, and knowing which questions to ask can be challenging. So what makes a good property? As a buyer’s agent, I get asked this question all the time. In today’s episode, I take you through five key elements to keep in mind when determining whether a property is the right choice for you.Ultimately, the right decision will align with who you are as a person and what you value. Knowing what you want and having a clear plan is vital, and today I talk about the importance of first having a strategy in place when embarking on the hunt for a property. I run through the questions you should be asking yourself that will help define your strategy and start you off on the front foot:Why do you want to buy a property? What does that property need to do for you? When is the right time for you to buy? What are the non-negotiables a property needs to have to suit you? While there’s always a risk when making an investment in property, there are steps you can take to ensure that you choose a property with the least amount of financial risks. I give examples of aspects to be aware of and do your research on, such as zoning, proximity to power or train lines, property size and different titles that may affect your ability to resell. I explain the importance of a property’s owner occupier appeal, which maximises the amount of people who may want to buy it in the future. Purchasing a property that is highly desirable for others to live in gives you the best chance of success when it comes time for you to sell. While it’s sometimes tempting for buyers to take things at face value, doing your due diligence on a property is crucial to ensure there are no nasty surprises or future unexpected costs. I encourage you not to avoid things like ordering building and pest inspections, reading body corporate minutes or doing market analysis before you commit to a property. Understanding exactly what you’re buying will give you confidence in your decision making and save you any headaches in the long run. At the end of the day, what makes a property good for one person will be completely different to someone else. So take the time to discover what you want and what’s achievable for you, and you’ll be on your way to finding the ideal property that truly suits your needs.LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy:Website:https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram: https://www.instagram.com/the.first.home.guidebook/ (@the.first.home.guidebook)

Tune in to hear today's property story about a couple in their early thirties who bought a house in Mount Gambia for $279,000 and then scrimped and saved and bought a second property only seven months later for $435,000!In this episode, they share how they saved their deposit, what they were looking for in their first and second properties, how they managed to save a deposit for two houses in such a short period of time, their buying journey and their advice for anyone entering the property market.It wasn't their original plan to purchase an investment property, they just wanted to get into the market, and now they have positive cash flow and are so thankful they took the plunge. Their story will encourage you to jump in and start looking today. So, grab a pen and paper and write down their tips on living a frugal lifestyle and managing money. These useful strategies were how they were able to purchase again so quickly when the right property came their way. LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy: Website:https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram: https://www.instagram.com/the.first.home.guidebook/ (@the.first.home.guidebook)

When I’m helping first home buyers look at buying a property, I often use analogies to help guide them through the decision making process. Today I run through 10 ways buying a property can be very similar to the online dating game, and encourage you to keep these ideas on file should you find yourself in similar scenarios on your home buying journey. Buying a property can sometimes be a numbers game, and just like online dating, you might have to go on a lot of inspections, AKA dates, before you find ‘The One’. This process of meeting the not-quite-right ones, the ones who let you down or the ones that just don’t work out can be emotionally draining and it may mean you need to start all over again. But does this mean you should give up? I talk about how reassessing your strategy and getting back out there can help put you back on the right track. Then there are those lucky moments when you find the right one straight away. It’s absolutely possible to find your match on the first occasion, but this is often when doubts creep in. Could it be too good to be true? Is there something better around the corner? Am I being too hasty? I talk about giving yourself the best chance to overcome this fear by doing your research before stepping out and really understanding what’s out there on the market.Just like in relationships, we can become emotionally invested in a property, only to be let down when it’s not possible to obtain it. I discuss the heartbreak that comes with things not turning out, and the importance of getting back out there to find what you’re searching for. I also talk about the different scenarios that can arise that unexpectedly change our direction and set us on a new, if not better, path. Ultimately, knowing what your values are and what you desire most is the best way to be guided towards the property that is truly right for you. While there may be setbacks and disappointments along the way, refocusing your strategy and working out what is really important will guarantee the best chance at success as you move forward on your property buying journey. LINKS:Check out my FREE checklist 100 Things To Look Out For At Property Inspections http://thepropertyguidebook.com.au/freebie (here)Connect with Amy: Website:https://thefirsthomeguidebook.com.au/freebie (www.thefirsthomeguidebook.com.au)Instagram: https://www.instagram.com/the.first.home.guidebook/ (@the.first.home.guidebook)