I had an entirely different topic in mind for this week’s edition (the F1, in case you missed the latest Percival Press), but I’ve made a last-minute decision to pivot. My incredibly organised sisters managed to secure tickets to take my mum – a die-hard F1 fan, not a Drive to Survive Netflix stan like the rest of us – to see the real deal for her birthday this weekend.
Since this Sunday marks International Women’s Day, it felt like the perfect opportunity to let the women in our office take centre stage. Before I pass the mic (or rather, the keyboard) over to them, I’d like to bring a standout listing to your attention. On the top floor of the Winchcombe Carson Woolstore, a rare split-level opportunity awaits.
According to latest PropTrack data, the gap in Australian property ownership has narrowed to its smallest margin in history (62.7% for women versus 64.4% for men). While the statistics are moving in the right direction, the prospect of a first purchase – let alone the intensity of an auction – remains a daunting hurdle for many buyers, in particular women.
As two ladies in our twenties, we statistically sit right in that first-home buyer pool, but our jobs give us a bit of an unfair advantage. Georgie can navigate a contract with her eyes closed, and I, Lou have written enough copy to know exactly which features define a resilient investment. It’s easy to forget that for many of our peers, terms like “Form 2s,” “subject to finance,” and “auction conditions” can feel like a foreign language.
If you are a proud homeowner or seasoned investor, the below may be old news to you. We’ve written this in hopes that you forward it to a Gen Z or Alpha in your circles who needs a little guidance, (and tell them to follow us on TikTok – we’re trying very hard to keep up with the Joneses over there).
Getting into the market is becoming tougher with every passing month, so here’s the tips we’ve been giving our friends on repeat.
SPEAK TO A MORTGAGE BROKER
If you are still going straight to your bank for a home loan, stop immediately. A brilliant broker doesn’t just find a loan; they model scenarios, stress-test your budget against interest rate rises, and act as your advisor, at no cost to you. Unsure about finance clauses? Call them. Need an upper limit for an auction? Ask them. They are the first phone call you should make before signing anything. We can recommend a few brokers that we trust with our own home loans if you are unsure where to begin!
DON’T LET COSTS CATCH YOU OFF-GUARD
The deposit is only one part of this overwhelming expense. Make sure you have sufficient funds in your account to make said deposit, pay stamp duty (though as a first home buyer you may be exempt), and cover the cost of a solicitor. A good mortgage broker will provide you with a lovely spreadsheet to guide you – it can add up quickly!
BE UPFRONT ABOUT YOUR BUDGET & ASK QUESTIONS
Being mysterious rarely gives you the upper hand. It just makes it harder for the agent to know if you’re a serious contender. Providing a ballpark budget allows us to tell you if you’re in the running or if a property is likely to outpace your limit. It’s normal to feel overwhelmed – talking through your concerns will always result in a more confident decision.
MAKE YOUR CRITERIA KNOWN TO AGENTS
Ever wonder why properties often sell before they even hit the open market? Before a campaign officially begins, we provide qualified buyers who flagged their interest for that specific property type exclusive early access. Case in point: 232/64 Macquarie Street recently sold following a few select inspections. If you’re interested in a specific address or building find the agents leading your target market and make sure you’re on their short-list.
YOUR FIRST HOME IS NOT YOUR FOREVER HOME
My first purchase was a classic brick walk-up. It had all the hallmarks of a solid asset: a small complex, a “lipstick” renovation, low body corporate fees, and an elevated corner position with city views. Is it a Pinterest-worthy property? No. But it has become a high-performing investment property. Your first purchase should be the engine that eventually gets you to your dream home.
HOW YOU FUND YOUR PURCHASE IS NO ONE’S BUSINESS BUT YOURS
In the last five years, the Great Australian Dream has shifted. Whether you’re leveraging a family guarantee, buying with a partner, or utilising every government scheme available, it doesn’t matter how you get your foot in the door. The only thing that matters is that you start somewhere.
It would be remiss of us not to end this email with a property that would make a fantastic first home or a robust investment. Low-maintenance, with a unique wrap-around terrace and a seamless city commute, 5/7 Roche Avenue is a must-see. Join us at the open home this Saturday at 2:15 PM.
We won’t be there to meet you, but we’ll be processing your offer and organising your settlement gift if you’re the lucky buyer!
Talk soon,
Lou, Georgie (and Ben)
