You’ve saved, sacrificed, and finally built up your deposit. But here’s the catch: your deposit is only part of the story. Buying your first home comes with a stack of hidden costs that can completely blindside you if you’re not prepared.
In this episode, Veronica and Meighan pull back the curtain on the sneaky expenses that first home buyers often forget. From stamp duty surprises and loan fees to building inspections, strata reports, and conveyancing costs, they explain what you really need to budget for before signing a contract. You’ll also hear why skipping inspections to “save money” can end up costing you tens of thousands — and the simple steps to avoid those rookie mistakes.
But the costs don’t stop once you’ve bought the home. We unpack the ongoing expenses — council rates, strata levies, water bills, insurance, maintenance, and even moving costs — that can quietly eat away at your cash flow. Plus, we share real stories of unexpected repairs (like underground plumbing disasters and broken air cons) that prove why every buyer needs a buffer.
If you’ve been focused only on your deposit, this episode is your wake-up call. The good news? With the right planning, you can step into homeownership without fear of budget blowouts or nasty surprises.
Episode Highlights
00:00 – Introduction
01:19 – Hidden Costs Buyers Overlook
02:01 – Understanding Stamp Duty
02:40 – Loan Fees & LMI Costs
03:27 – Legal & Inspection Must-Haves
05:43 – Rates, Levies & Ongoing Bills
08:17 – The Importance of a Financial Buffer
10:44 – Planning and Budgeting for Success
Course Details:
- THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG
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!
