What would you do if you found out a single mistake could cost you $60,000 on your first home? That’s exactly what happened to Jessica, and we’re diving into her story today. This is one tough lesson about what can go wrong when you don’t have the right advice or information. The good news? By learning what went wrong, you’ll know exactly what to do to avoid a similar disaster. In this episode, we break down Jessica’s experience step by step and we start with explaining how things spiralled out of control, from signing a contract too early to not having the right support crew in place. We share what questions Jessica should’ve asked, why due diligence matters so much, and how skipping one simple step left her facing potential bankruptcy. But it’s not all doom and gloom! We’re here to guide you on how to do things the right way. From understanding body corporate fees and special levies to the value of engaging a good conveyancer before you make an offer, we’re arming you with the knowledge you need to be an educated homebuyer. By the end of this episode, you’ll know how to spot red flags, negotiate smartly, and protect yourself from hidden costs. After all, it’s all about being in control, making informed decisions, and feeling confident on your journey to homeownership. So let’s make sure your first home is everything you dreamed of—without the nightmares. Episode Highlights: 00:00 - Introduction 02:15 - A little backstory about today’s disaster story 04:00 - Lessons from Jessica’s mistakes 04:34 - Never sign a contract without legal advice especially if the contract is legally binding 05:33 - Why understanding disclosure statements and body corporate minutes is essential 09:01 - Knowing the right questions to ask the vendors and agents 12:30 - Why getting the right support crew is number ONE in our first home buyer guide 14:23 - What you need to know about property disclosure obligations 21:00 - Step #1: Inspect the property critically 21:52 - Step #2: Do price research 22:36 - Step #3: Order a strata report and read it 23:51 - Step #4: Take the contract of sale and the strata report to your lawyer 25:30 - Step #5: Evaluating special levies before buying property 28:33 - Step #6: Negotiate with the agent 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 have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast support@homebuyeracademy.com.au 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/ Work with Meighan: https://www.linkedin.com/in/meighanwells/ 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! Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825 Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f See omnystudio.com/listener for privacy information.
