Episodes

  • Grants, Schemes & Stamp Duty: The Costly Mistake First Home Buyers Keep Making

    Grants, Schemes & Stamp Duty: The Costly Mistake First Home Buyers Keep Making
    May 20 2025
    Are you making your whole property decision just to avoid paying stamp duty? We see this all the time, and honestly, it could cost you far more than you think in the long run. In this episode, we’re joined by mortgage broker Andrew Wheatley to talk about the one big mistake we keep seeing first home buyers make: getting stuck on staying under the grant or concession thresholds. Andrew works with buyers every day and has a really practical way of helping people step back and look at the bigger picture, not just what they might save today, but what that decision could mean for their future wealth and lifestyle. We go through what those thresholds actually mean, how much you’re really saving (or missing out on), and why some people end up stuck looking for months just because they didn’t realise they could stretch a little further without taking on more risk. It’s not about spending more just for the sake of it, it’s about making sure you understand all your options and make a decision that sets you up for the long term. If you’re a first home buyer trying to make sense of all the government schemes, this chat will help you clear the noise and focus on what really matters, buying a quality asset that grows with you. Episode Highlights: 00:00 - Introduction 03:01 - Who is Andrew Wheatley? 04:07 - What’s the biggest trap buyers fall into with stamp duty concessions? 09:13 - Should you explore options above the scheme threshold? 11:25 - Why so many first home buyers are competing at the same price point 14:04 - How much more do you really pay if you go over the threshold? 19:09 - What’s the smarter way to set your property budget? 21:54 - Why being “ready” matters more than being fast 23:26 - Is it bad advice to avoid stretching your budget on your first home? 29:50 - Why do buyers fixate on free money from the government? 31:37 - Can chasing a grant cost you capital growth? 32:52 - Should your first home also be a good investment? 39:12 - What are Andrew’s top tips for first home buyers? 45:04 - What’s one thing Andrew wishes he knew as a first home buyer? About Our Guest: Andrew Wheatley is the founder and lead mortgage broker at Wheatley Finance, based in Yarraville, Victoria. With over 20 years of experience in the finance industry, Andrew is passionate about helping Australians navigate the complexities of home loans and property finance. His dedication to client success has earned him recognition, including the Finance Brokers Association of Australia’s (FBAA) Victoria Finance Broker of the Year Award in both 2021 and 2022. Andrew established Wheatley Finance to empower clients with tailored financial solutions, aiming to shift the balance of power from banks to borrowers. He is known for his client-centric approach and commitment to providing clear, honest advice to help individuals achieve their homeownership goals. Connect with Andrew Wheatley: Website https://www.wheatleyfinance.com/LinkedIn https://www.linkedin.com/in/andrew-wheatley/ Resources: FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourseMeet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokersVisit our website https://www.homebuyeracademy.com.au/Join our Facebook Group to get access to free monthly live Q&A sessionshttps://www.facebook.com/groups/yourfirsthomebuyerguideaustraliaLearn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBGIf 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.auLooking for a Sydney Buyers Agent? https://www.gooddeeds.com.auWork with Veronica: https://www.veronicamorgan.com.auLooking 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/@YourFirstHomeBuyerGuidePodcastSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421fSee omnystudio.com/listener for privacy information.
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    49 mins
  • Substations, LMI, Rentvesting, Auctions & Strata Risks: First Home Buyer Q&A

    Substations, LMI, Rentvesting, Auctions & Strata Risks: First Home Buyer Q&A
    May 13 2025

    How do we deal with some of the quirkiest first-home-buyer dilemmas? In this episode, we’re answering real questions from our Facebook group; like whether it’s a bad idea to buy next to a substation, what to do when we’re weighing up LMI and rentvesting, and how to make sense of strata reports when there’s not a lot to go on. It’s all the stuff that doesn’t always have a black and white answer, but definitely deserves a proper chat.

    We start with substations because that one comes up a lot. Are EMFs something to worry about, or is it more about resale and how it feels when we’re standing on our balcony staring at a big grey box? Veronica even shares what a nuclear physicist told her when she was looking at a property for a client, and we get into how much of it is science vs perception.

    Then we get into the rentvesting vs buy-to-live conversation, especially when Lender’s Mortgage Insurance is involved. Should we wait it out and save that 20% deposit? Or is it better to just get in and deal with the LMI? Meighan talks through our own experience here, what we’d do differently and what actually matters when we’re doing the numbers.

    And if we’ve been wondering whether to throw in a pre-auction offer or how to deal with limited strata info… Yep, we cover that too. From knowing what questions to ask agents, to spotting red flags when we haven’t even seen a report, we go through how we think about these tricky calls and the kinds of risks we might want to weigh up.

    If we’re deep in the first home buyer trenches, this one’s full of real talk, honest stories, and things we’ve learned the hard way.

    Episode Highlights:

    00:00 - Introduction

    01:59 - Should I be worried about buying next to a substation?

    07:52 - Is it worth paying LMI if it means I can buy sooner and rentvest?

    11:39 - Should I make a pre-auction offer or wait until auction day?

    15:55 - What should I look out for in a strata report, and how do I assess risk if I can’t see it yet?

    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.
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    23 mins
  • The Grant Trap – How One Mistake Cost Us the First Home Guarantee

    The Grant Trap – How One Mistake Cost Us the First Home Guarantee
    May 6 2025

    You’ve got your deposit sorted, your plans lined up, and you’re finally ready to buy your first home, and then boom… one small misstep knocks you out of the running for a scheme that could’ve saved you tens of thousands.

    That’s what happened to these two first home buyers who were doing all the right things. They were organised, informed, and using the First Home Super Saver scheme to boost their deposit, they had their sights set on the First Home Guarantee to avoid lender’s mortgage insurance. But what they didn’t realise was that the timing of withdrawing those funds would impact their income assessment… and cost them their eligibility.

    In this episode, we break down exactly where things went wrong and why two government schemes designed to help buyers don’t always work well together. It’s a real-life example that highlights just how tricky this space can be, and how easy it is to fall into a trap when you don’t have the right people guiding you.

    If you’re planning to use any kind of grant or incentive to buy property, this is one you don’t want to miss. The right move at the wrong time can undo everything, but with the right advice, it doesn’t have to.

    Episode Highlights:

    00:00 - Introduction

    03:14 - Sam and Joe’s story: What went wrong

    04:37 - Three key takeaways for first home buyers

    06:31 - What happened because they withdrew their Super Saver funds a little too early

    08:39 - A quick refresher on how the super saver scheme and the first home guarantee works

    11:02 - Why these two schemes weren’t designed to work together

    14:20 - Solutions if you’d like to use the super saver scheme and first home guarantee

    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.
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    20 mins
  • How First Home Buyers Can Keep Up in a Hot Property Market

    How First Home Buyers Can Keep Up in a Hot Property Market
    Apr 29 2025

    When the market is running hot, we know how tough it feels, especially for first home buyers. Properties seem to sell before you’ve even had a chance to blink, let alone think. Every week, price guides climb higher, agents are saying homes are already under offer, and it slowly chips away at your confidence. It’s exhausting. But here’s what we want you to know: you can still buy well in a market like this. You just need the right mindset and a solid strategy.

    In this episode, we walk you through seven practical tips that help you stay in the game. We talk about why speed and preparation matter more than ever, how to get to know your area like the back of your hand, and when it’s time to pivot to surrounding suburbs if your dream location slips out of reach. We also explain why knowing property values inside and out is key, and why skipping due diligence; no matter how tempting, is never worth the risk.

    We also get into auctions and pre-auction offers, and how we handle them with our clients. There’s a lot of pressure out there, but when you understand the process and do the prep early, you can make strong, smart decisions without being swept up in fear or frustration.

    So if you’re feeling disheartened, we get it. We’ve been there. But don’t tap out. With the right tools, a bit of grit, and a whole lot of preparation, you’ll find your way through this. You’re closer than you think.

    Episode Highlights:

    00:00 - Introduction

    02:10 - Meighan’s special house of the week

    06:02 - 4 core takeaways to compete in a hot market

    07:08 - Tip #1: Recognise and overcome first home buyer challenges

    09:02 - Tip #2: Get a step ahead by knowing your area inside out

    13:33 - Tip #3: Mastering auctions and pre-auction plays

    17:57 - Tip #4: Be offer-ready even before the first open

    20:55 - Tip #5: Never skip due diligence

    23:06 - Tip #6: Understand best and final offers

    26:22 - Tip #7: Mindset matters

    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.
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    30 mins
  • Inside Australia’s Riskiest Property Types According to New Data

    Inside Australia’s Riskiest Property Types According to New Data
    Apr 22 2025

    It’s simply not true that every property makes money. In fact, in the last quarter of 2024, 5.2% of sellers sold for less than they paid, and in one segment, a staggering 36.7% sold at a loss. In this episode, we unpack the data from the latest CoreLogic Pain and Gain Report and walk you through which types of properties are proving to be the riskiest, especially for first home buyers.

    We talk about the dangers of short hold periods, why holding onto a property for longer (ideally around that 10-year mark) gives you a much better chance of riding out market dips, and how certain areas, like Melbourne Inner, Parramatta, and Ryde, are seeing rising rates of loss-making sales. Spoiler alert: units, particularly off-the-plan ones, are a major culprit here.

    We also get into the psychology of selling; why people are often forced to sell too early due to life changes, fear, or financial pressure, and how that can lead to big losses, especially in oversupplied markets. And yes, we even touch on why buying brand new with government grants might not be as clever as it sounds. It’s a classic case of good marketing, poor outcomes.

    Our goal is to help you avoid being one of those awful statistics. We’ve seen it too many times, first home buyers who do all the right things, and still end up worse off because they didn’t have access to the right information. So if you’re serious about making smart decisions, this one’s for you.

    Episode Highlights:

    00:00 - Introduction

    02:25 - Meighan’s special house of the week

    05:44 - The impact of hold periods on profit or loss

    07:38 - Units vs houses: Why one is riskier than the other

    09:32 - Capital cities vs regions: Which areas are really losing money?

    13:22 - The most loss-making markets in the December quarter

    17:11 - Long-term decline in high-supply unit markets

    22:39 - Darwin and the Northern Territory remain the hardest-hit markets

    23:24 - The best-performing markets in the December 2024 quarter

    27:21 - The biggest takeaway from the Pain and Gain Report

    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.
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    31 mins
  • Why This Seemingly Genius Property Strategy Won’t Work?

    Why This Seemingly Genius Property Strategy Won’t Work?
    Apr 15 2025
    What if you could just buy a place in a hot market, hold it for a bit, then sell and use the profit to buy your dream home? Sounds like a clever hack, right? We hear this idea thrown around a lot, and honestly, we get the appeal. But in this episode, we pull back the curtain on why that seemingly genius strategy might not be as smart, or as simple, as it looks. This question actually comes from someone in our Facebook group, and it’s such a good one that we dedicated an entire episode to it. The idea is: go in with a sibling, friend, or even a parent, pick a market that’s on the rise, and build equity quickly before moving on to something more long-term. In theory? Brilliant. In practice? Oof! So many things have to go perfectly for it to actually work. We’re talking about pinpointing the exact right suburb at the beginning of its boom (good luck), choosing the right property in that suburb, selling at the perfect time, dealing with tax implications, tenancy laws, and then somehow doing all of that together with another person. It’s a massive gamble. We walk through real-life examples; like the time one of us missed the market peak by just a few months and took a loss. We run the numbers so you can see how quickly your “profit” can shrink once you factor in capital gains tax, selling costs, and holding costs. Even if everything goes according to plan (and that’s a big IF), you might walk away with less than you expect. So if you’re tempted by this kind of shortcut to homeownership, we want you to go in with your eyes wide open. We love the theory, but when you stack up all the risks, it just doesn’t fly, especially if you’re a first home buyer trying to build a strong foundation. Episode Highlights: 00:00 - Introduction 02:02 - Breaking down the popular idea of co-buying in a booming area for short-term gain 06:31 - Why identifying a market at the start of its growth cycle is harder than it sounds 11:03 - The risks of missing the peak and what happens when you sell too early or too late 15:21 - Why small gains won’t work with this seemingly “perfect” strategy 16:20 - The real numbers: Costs, tax, and what you actually keep 24:46 - The dealbreaker: You’re timing two markets, not just one Resources: FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourseMeet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokersVisit our website https://www.homebuyeracademy.com.au/Join our Facebook Group to get access to free monthly live Q&A sessionshttps://www.facebook.com/groups/yourfirsthomebuyerguideaustraliaLearn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBGIf 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.auLooking for a Sydney Buyers Agent? https://www.gooddeeds.com.auWork with Veronica: https://www.veronicamorgan.com.auLooking 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/@YourFirstHomeBuyerGuidePodcastSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421fSee omnystudio.com/listener for privacy information.
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    28 mins
  • How Weather Events Affect Lending, Insurance, and Property Value

    How Weather Events Affect Lending, Insurance, and Property Value
    Apr 8 2025
    Have you ever stopped to think about what actually happens to the property market when a big weather event hits? In this episode, we’re tackling a topic that’s becoming more and more relevant, especially after ex-Cyclone Alfred swept through parts of Queensland and northern New South Wales. We’re talking about the real impacts of natural weather events – floods, bushfires, cyclones, and extreme heat – on lending, insurance, and property values. We’ve seen firsthand how these events affect homeowners and buyers. Meighan shares what it’s like packing up everything before a weather event, and we both reflect on personal stories: like her dad’s laundromat in Lismore and how often they had to evacuate. It’s not just the damage; it’s the emotional toll, the disruption, and the long road to recovery. But there’s also a bigger picture here: how the market reacts, how affected and unaffected properties start to shift in value, and why the price gap can change drastically. We walk you through what you need to know to manage risk when you’re buying, because we don’t want you to end up in a property you can’t insure properly or, worse, can’t sell when you need to. We cover flood maps, bushfire zones, overland flow, insurance exclusions, building codes… all the things that can really affect your long-term experience as a homeowner. It’s not about scaring you off, it’s about making sure you go in with eyes wide open. There’s a lot to consider, but it comes down to being thorough with your due diligence. If you’re prepared and you know what to look for, you can absolutely make a smart and informed decision, even in areas where natural disasters are a reality. And let’s face it, that’s most of Australia. Episode Highlights: 00:00 - Introduction 03:34 - What actually happens to property markets when a major weather event occurs? 07:24 - Properties affected by floods or disasters drop more in value than unaffected ones 08:49 - In hot markets, people still pay top dollar, even for flood-prone properties 11:55 - Short-term effects of natural disasters on insurance and lending 14:11 - Loan approvals can depend on location risk 16:03 - What if insurance doesn’t cover temporary accommodation? 18:48 - The biggest natural disaster risks in Australia buyers should know about 21:34 - Top 5 steps to manage risk as a first time home buyer 29:12 - What to look for in an insurance policy when buying in disaster-prone areas 34:31 - Should you buy in an area with natural disaster risks? Resources: FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourseMeet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokersVisit our website https://www.homebuyeracademy.com.au/Join our Facebook Group to get access to free monthly live Q&A sessionshttps://www.facebook.com/groups/yourfirsthomebuyerguideaustraliaLearn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBGIf 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.auLooking for a Sydney Buyers Agent? https://www.gooddeeds.com.auWork with Veronica: https://www.veronicamorgan.com.auLooking 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/@YourFirstHomeBuyerGuidePodcastSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421fSee omnystudio.com/listener for privacy information.
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    38 mins
  • The $98,000 Property Mistake That Could Happen to You

    The $98,000 Property Mistake That Could Happen to You
    Apr 1 2025

    Could you really lose nearly $100,000 over a missed bank transfer? Yep—you absolutely can. And in this episode, we unpack a real-life story that proves just how easily that kind of disaster can happen. A Queensland buyer lost his entire $98,000 deposit simply because he didn’t meet a deadline—and the worst part is, it was completely avoidable.

    We break down exactly what went wrong—from not checking his internet banking limits to relying on a casual text from the agent saying it was fine to pay a day late. Spoiler alert: it wasn’t. We explain why “time is of the essence” matters in contracts, how legal advice should come before you sign anything, and how quickly things can unravel when you don’t follow the proper steps.

    This isn’t about scaring you—it’s about making sure you understand how serious contract conditions are and why it’s so important to get everything in order from the get-go. If you’re buying your first home, this episode talks about lessons you most definitely do not want to learn the hard way.

    Episode Highlights:

    00:00 - Introduction

    02:17 - A buyer loses $98,000 after missing a crucial deadline—what happened?

    04:25 - Lesson #1: In Queensland, “time is of the essence” in contracts

    05:17 - Lesson #2: The wording of your contract matters, review it early

    05:58 - Lesson #3: Know your bank’s transfer limits

    07:03 - Lesson #4: Extensions must be in writing – texts from the agent don’t count

    07:55 - The missed opportunity to fix a critical mistake

    09:12 - Lesson #5: Bank limits and personal inconvenience don’t excuse breaches

    09:38 - Lesson #6: If you breach the contract, the seller can keep your deposit—plus interest

    11:04 - Lesson #7: The contract clearly gave the seller the right to terminate the deal

    13:50 - Lesson #8: Don’t sign a contract without getting legal advice

    15:19 - Lesson #9: Extensions must be confirmed in writing by your solicitor

    17:49 - Lesson #10: Get legal advice and raise your banking limit before signing anything

    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
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    • Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

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