In this episode of the First Property Buyer Show, host Emilie Lauer chats with Melbourne-based auctioneer Andy Reid to break down the auction process, sharing practical strategies for first-time buyers to secure their dream home.

Recognising that auctions can be daunting for newcomers, Andy demystifies the process with a “101” approach that covers everything from preparation to state-specific nuances.

The duo acknowledges the emotional intensity of auctions and recommends reducing stress through thorough preparation, setting a clear budget, visualising the first moments, and plenty of practice.

Given the popularity of auctions in Australia, Andy urges first-time buyers to observe as many auctions as possible to become familiar with the format and atmosphere.

For successful bidding, he highlights the importance of confidence – speed, volume, and tone can intimidate other bidders – and suggests challenging increments to gain an edge.

He also reminds buyers that winning an auction means acting fast, with an immediate deposit and contract signing, so being sure of their decision is crucial.

Andy wraps up by encouraging buyers to ask questions and seek guidance, underscoring the need to enjoy this exciting milestone in their home ownership journey.

In this episode of the First Property Buyer Show, host Emilie Lauer sits down with founder and CEO of InvestorKit, Arjun Paliwal, to discuss how couples can successfully invest in their first property together.

The duo starts the episode by reflecting on Arjun’s journey, who bought his first property at 22 to build a $20 million portfolio with his wife, emphasising the need for the couple to work as a team and invest in building strong careers.

When investing as a couple, Arjun advises clear division of roles and mutual trust are essential to avoid conflict and streamline decisions, with both partners aligned on goals but focused on their respective strengths during the process.

Arjun also advises couples to have clear communication about finances with safeguards like buffers to help them manage risks and build confidence.

He suggests planning for worst-case scenarios to protect assets in the event of a relationship breakdown.

The duo also discusses investment strategy, with Arjun suggesting using data-driven tools, being aware of location, and rentvesting strategies to buy their first property.

In this episode of the First Property Buyer Show, host Emilie Lauer sits down with real estate agent Paul Davis from First National Real Estate Daystar to dissect each step of buying a property while clarifying inspection processes and real estate jargon.

The duo starts exploring potential buyers’ journey, with Paul highlighting the importance of securing pre-approval first to ensure buyers know their budget and are financially ready.

Paul warns against revealing budgets to agents, which may weaken negotiation power.

During property inspections, buyers should carefully check the building’s condition and obtain pest and building reports. For strata properties, understanding the strata report and consulting a solicitor is crucial to avoid hidden costs.

The next step of making an offer involves submitting a formal, written bid, typically including a small deposit and a cooling-off period.

Finally, settlement marks the official transfer of ownership, concluding a journey that requires education, patience, and professional guidance

Paul encourages patience, noting that missing out on properties is common, but persistence pays off.

In this episode of the First Property Buyer Show, host Emilie Lauer sits down with mortgage broker Eva Loisance from Finni Mortgages to dissect the mortgage maze for first property buyers.

The duo starts by outlining the key loan options for first-time buyers in three main categories: basic versus package loans, variable versus fixed rates, and principal and interest versus interest-only repayments.

Eva explains that basic loans offer lower rates with fewer features, while package loans include extras like offset accounts, which can reduce the interest paid. Variable rates fluctuate with the market, while fixed rates offer stable repayments over a period.

She emphasises that being well-prepared with documentation and transparent about financial history are crucial when applying for a loan, as even a modest credit history, like responsibly managing a small credit card, can enhance borrowing opportunities.

To avoid mortgage stress, Eva encourages buyers to make small extra repayments to save on interest over the loan’s life, as being proactive with repayments can shorten the 30-year loan significantly.

In this episode of the First Property Buyer Show, host Emilie Lauer sits down with seasoned buyer’s agent from Advocate Property Services, Jo Vadillo, to discuss the pivotal role of a buyer’s agent and how they can assist first home buyers in making informed decisions.

The duo starts by exploring Jo’s career as she became a buyer’s agent in 2012, when the role was still relatively unknown to the general public. Since then, she has seen a shift in perception, from clients questioning the need for a buyer’s agent to later regretting not using one.

Jo said that a buyer’s agent helps clients navigate the purchase process, offering access to listed and off-market properties, coordinates with brokers and solicitors, arranges inspections, and negotiates deals.

She stresses that first home buyers should start by sorting their finances, then work with an agent to build a personalised strategy based on market trends and budget.

While buying a home is emotionally taxing – similar to having a baby – and full of unknowns, a buyer’s agent can help you stay focused and informed, making decisions rationally.

In this episode of the First Property Buyer Show, host Emilie Lauer sits down with Dr Diaswati Mardiasmo, chief economist at PRD, to unpack all the first home buyer’s schemes available in Australia.

The conversation begins with Mardiasmo sharing her property journey, stressing the importance for first property buyers to understand their financial limits and avoid buying above their means.

The duo then outlines the federal and state schemes available, including the First Home Guarantee Scheme, which allows buyers to purchase with just a 5 per cent deposit and no lender’s mortgage insurance, and the Help to Buy Scheme, where the government can co-purchase up to 40 per cent of the property for a 2 per cent deposit.

Another option is the First Home Super Saver Scheme, which allows buyers to use voluntary super contributions towards a deposit, provided they have made additional voluntary super contributions.

Additionally, individual states offer specific grants, each with varying amounts, price caps, and occupancy requirements.

While Australia’s first home buyer landscape is filled with schemes aimed at easing the path to ownership, Mardiasmo urges buyers to align their property choices with lifestyle goals and long-term plans and to seek professional guidance when navigating complex financial decisions.

In this episode of the First Property Buyer Show, host Emilie Lauer sits down with mortgage broker Eva Loisance from Finni Mortgages to debunk common financial myths around buying your first property.

The duo starts by breaking down all the associated costs related to buying your first property.

A key focus of the episode is the commonly believed 20 per cent deposit myth, which Eva explains is no longer a strict requirement. Many first home buyers can purchase with as little as 5 per cent, especially with the assistance of government grants and schemes.

Eva emphasises the importance of understanding your borrowing capacity, which varies based on income, expenses, and debt. She also discusses the trade-off between waiting to save a larger deposit and entering the market sooner, noting that rising prices can outpace savings.

As hidden costs – such as stamp duty, conveyancing, lender’s mortgage insurance, and strata fees – can surprise first-time buyers, Eva advises thorough budgeting based on their current finances, rather than relying on future interest rate cuts to lower their spending.

In this episode of the First Property Buyer Show, host Emilie Lauer chats with property journalist Liam Garman, who shares his journey as a first-time buyer, reflecting on the confusion he faced and offering tips to help listeners make their own experience as smooth as possible.

The duo begins by exploring Liam’s property journey in July 2023, when he purchased a unit in Neutral Bay for $860,000, a decision influenced by his wife’s area preference.

Although the couple initially considered rentvesting by buying an investment property in Brisbane while renting in Sydney, they ultimately opted to buy a home to live in.

Liam explained that the Brisbane property would have been negatively geared, leading to high out-of-pocket costs, making their Sydney purchase the more financially sensible choice.

Recognising the overwhelming nature of purchasing a first property, Liam emphasises the importance of thorough research and due diligence, advising listeners to engage deeply with mortgage brokers and make informed financial decisions.

The conversation shares insights on pre-approval, administrative tasks, and selecting properties that align with personal goals, emphasising that the journey, although complex, is manageable with the right knowledge and support.