Common Property Beliefs That Don’t Hold Up in Reality

Are you sure those common property beliefs you've heard are
actually sound advice? In this episode, we dig into some widely
accepted opinions about property that simply don’t hold up when
you look at them more closely. From the idea that "you should buy
as soon as you can afford anything" to "buying under market
value" or "starting with an investment property," we discuss why
these might not be as foolproof as they seem.


We explore how rushing to get on the property ladder by
purchasing any available property can backfire. It’s not just
about getting your foot in the door—what you buy can have
long-term implications on your finances and future choices. We
also dive into the real costs associated with choosing the wrong
property or falling into the trap of thinking a "bargain" always
means value.


Beyond the initial myths, we challenge the belief that buying an
investment property before your first home guarantees success.
While this may work for some, it’s not the blanket solution that
many claim it to be. We also touch on the misleading allure of
buying "under market value" and why properties without
competition could be signaling red flags you need to watch out
for.


If you’ve ever been tempted by quick-fix solutions like “instant
equity uplift” or the idea that the only way to make money is
through renovation, this episode offers the insights you need to
avoid costly mistakes. We wrap it up with tips on how to apply
critical thinking to common property advice, ensuring you're
making informed decisions that suit your unique circumstances.


Episode Highlights:


00:00 - Introduction


02:04 - Meighan’s special house of the week


04:42 - Buy as soon as you can afford anything just to get on the
property ladder


07:34 - Buy an investment property before buying a home to live
in


10:59 - Buy under market value


14:25 - Instant equity uplift


24:01 - Buy the worst house on the best street


26:12 - Grab all the government grants you can


29:00 - Never buy strata title


32:43 - Avoid lender’s mortgage insurance at all costs


35:51 - The only way to make money in property is to renovate


39:22 - You can time the market


Resources mentioned in this episode:




Lender’s Mortgage Insurance Calculator
https://helia.com.au/the-hub/calculators-estimators/lmi-fee-estimator




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/




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