Your First Home Buyer Guide Podcast

By: Veronica Morgan & Meighan Wells
  • Summary

  • Your First Home Buyer Guide. Get there without missing a step.

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Episodes
  • What Tax Benefits Can First-Home Buyers Gain from Rentvesting?
    Jan 14 2025
    Rentvesting offers first-home buyers a unique way to get on the property ladder, but what about the tax implications? In this episode, we sit down with Catherine Simons, a seasoned tax accountant, to explore the nitty-gritty of how rentvesting can work in your favour financially. If you’re wondering about deductions, depreciation, and capital gains tax, you’re in the right place. We unpack the key differences between owning a home to live in and purchasing an investment property. We also explain concepts like negative gearing and how depreciation can be a cash-flow booster—even if the property is positively geared. We cover why planning is everything, from resetting valuations to understanding which expenses you can claim now versus those that get capitalised over time. For first-home buyers, we discuss common scenarios, like living in a property before renting it out versus renting first and moving in later. These situations come with vastly different tax rules, and Catherine shares practical tips to avoid costly mistakes. Her advice? Always keep detailed records and have the right experts guiding you. Sure, rentvesting can be a smart strategy for entering the property market, but it’s crucial to approach it with careful planning and the right advice. And this episode highlights the importance of understanding tax rules, making informed decisions, and working with professionals to maximise benefits while avoiding costly mistakes. Episode Highlights: 00:00 - Introduction 02:44 - Who is Catherine Simons? 03:21 - Key tax considerations for buying a home vs. an investment property 05:51 - Tax benefits and drawbacks: Owning a home vs. An investment property 10:21 - What property-related expenses can and cannot be claimed as tax deductions? 15:03 - Tax implications for first home buyers: Renting vs. Living in the property first 24:42 - Catherine’s advice for first home buyers 27:21 - Should you invest in property to lower your tax liability? 30:19 - What are the penalties for small claims on property expenses or deductions?? 33:09 - Misconceptions about restructuring debt for tax-deductibility in property investment 34:59 - What to know before transitioning from rentvesting to homeownership 37:40 - How hard is it for everyday investors to find a suitable accountant? 41:43 - What Catherine wishes she knew as a first home buyer Resources mentioned in this episode: WSC Group https://wscgroup.com.au/ Your First Home Buyer Guide Episode #205: Rentvesting: What You Need to Know Before Taking the Leap https://homebuyeracademy.com.au/podcasts/205 Your First Home Buyer Guide Episode #207: How Rentvesting Can Secure—or Sabotage—Your Financial Future https://homebuyeracademy.com.au/podcasts/207 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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    45 mins
  • First Home Buyer Q&A: Loans, Career Changes, and Maximising Your Borrowing Potential
    Jan 7 2025

    What happens when your dream of buying your first home collides with the realities of changing jobs, working overseas, or stretching your budget? In this episode, we’re joined by Chris Bates, one of Australia’s top mortgage brokers at Flint, to tackle these challenges head-on with practical advice and real-world examples to guide you through some of the common challenges of first-home buying.

    We start by addressing a common concern: how job changes impact your loan eligibility. Chris explains how banks assess different employment situations, including probation periods, career shifts, and even casual or part-time roles.

    Next, we dive into expat lending, a topic many Australians working abroad grapple with. We then explore the trade-offs between using first-home buyer grants and maximising borrowing power by purchasing an investment property.

    Finally, we talk about budget-stretching tips, including buying unrenovated properties, considering nearby suburbs, and keeping financial buffers. Chris also dives into the benefits of lender’s mortgage insurance, showing how it can be a valuable tool for first-home buyers when used strategically.

    Tune in to get clear, practical answers and build the knowledge you need to approach your first home purchase with peace of mind!

    Episode Highlights:

    00:00 - Introduction

    01:21 - How long should I work at my new job to qualify for a first-time home loan?

    05:58 - How much of a disadvantage is it to apply for a mortgage as an expat?

    10:51 - What’s the smarter choice: higher borrowing power or first-home incentives?

    16:09 - Does renting out spare rooms help increase loan capacity?

    22:32 - Is it better to buy a house now or after finishing my career change?

    36:42 - Chris Bates’ first home buyer property dumbo

    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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    43 mins
  • What You Need to Know Before Buying a Property in 2025
    Dec 31 2024
    Buying a property in 2025 presents unique opportunities and challenges, but how can you make sure you're ready? The property market can feel overwhelming, with interest rates, media noise, and endless opinions flying around, but we’re here to cut through the confusion and give you practical advice that actually helps. We’ll start by breaking down why trying to time the market is a waste of energy. Let’s be real—no one knows exactly what’s going to happen. Instead, we’ll focus on what you can control, like getting your finances in order and understanding how to make a solid decision when the time is right. It’s all about buying when you’re ready, not when the media tells you it’s a good idea. We also touch on big trends shaping the market, like immigration, rental shortages, and government incentives. Schemes like Shared Equity sound great on the surface, but there’s a lot to think about. We’ll help you figure out if it’s the right move for you—or if it could end up costing you more in the long run. And, as always, we’ll talk about price research. If you’re serious about buying, you need to know your market inside and out. We’ll show you why understanding current sales data is the key to making confident offers and avoiding common mistakes. So, if you’re serious about making 2025 your year to buy, this episode is packed with insights to get you on the right track. Let’s make sure you’re ready to hit the ground running. Episode Highlights: 00:00 - Introduction 03:02 - A little throwback to what the 2023 and 2024 property market looked like 04:31 - How to prepare for property market shifts and rising competition 07:41 - Why timing the property market in 2025 might cost you more than you think 12:24 - Seasonal factors should buyers consider when entering the property market 18:12 - Current and ongoing challenges in the property market 26:13 - How immigration could impact Australia's housing demand 32:04 - Shared equity schemes and government interventions to address the housing crisis 36:36 - Cautions for property buyers: Strategies for 2025 success Resources mentioned in this episode: Grab our where to buy tutorial for only $39 right here: https://homebuyeracademy.com.au/workshop 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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    43 mins

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