The journey of a first-time buyer: How to make the right property choice
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.
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IN THE BALANCE: Beyond the portfolio – A property investor’s guide to estate planning
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