Most first home buyers don’t fail because the market is too hard —they fail because they follow the steps in the wrong order.

They start scrolling listings, falling in love with homes they’re not ready to buy, and end up overwhelmed, stressed, or stuck. In this episode, we explain why that one mistake can cost you tens of thousands of dollars—and how to avoid it.

We break down our proven PACE system, a 10-step map designed to stop first home buyers from wandering blindly through the buying process. You’ll learn why preparation always comes before property, how building the right support crew early can protect your money and your sanity, and why understanding your real budget goes far beyond what the bank says you can borrow. We also talk about planning for the future-you—not just today—so you don’t outgrow your first home faster than you expect.

As we move through the action and commitment phases, we unpack how to search with intent, decode agent language, pause and recalibrate before things get serious, and understand how different methods of sale change the rules completely. We also explain why due diligence, pricing strategy, and emotional control matter more than gut feel—especially when price guides, online valuations, and “helpful” advice can quietly lead you astray.

This is the exact system we use when buying properties for clients—and the same framework we teach step by step inside the First Home Buyer Course. If you want to stop second-guessing yourself, avoid rookie mistakes, and move forward with clarity and confidence, this episode will show you where to start.

Episode Highlights

00:00 — Introduction: Common Mistakes of First Home Buyers

01:04 — The PACE System: A 10-Step Map

04:15 — Phase 1: Preparation - Building Your Support Team

10:13 — Phase 2: Action - Searching and Inspecting Properties

14:26 — Phase 3: Commitment - Understanding Methods of Sale

19:56 — Phase 4: Execution - Finalizing the Purchase

25:42 — Conclusion: The PACE System Overview

Mentions

1. Episode HBA 256 — Mortgage Strategy for First Home Buyers
2. Episode HBA 263 — Cracking the Property Market: Joel's Journey from Student to Homeowner (Case Study)

Course Details:

1. 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!

1. Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourse
2. 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

HBA 264 Your 10-Step Map to Buying Your First Home Without the Stress

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Multiple speakers: Our pay system is the 10 step map that stops you wandering blindly and falling in love. With homes. You are never ready to buy. When you follow the right sequence, everything becomes clearer. Your budget, your criteria, your strategy, your next move.

Multiple speakers: If you wanna avoid rookie mistakes, listen to the full episode and grab the course to get the complete roadmap.

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Speaker 2: Our mission to cut through the Bs, keep it real, and make sure you are buying smarter, not stressing harder. Quick heads up. We've created the First Home Buyer course, our step-by-step program to help you buy your first place with confidence and without the costly mistakes. The links in the show notes, but stick with us first.

Speaker: You'll wanna hear this episode. I.

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Multiple speakers: Today we're unpacking something absolutely foundational. Our pace system, it's the 10 step map that stops you wandering off into home buying wilderness and getting completely lost.

Multiple speakers: Now, most first time buyers do things in the wrong order, and honestly, that's where the costly mistakes begin. You start scrolling listings, falling in love with something out of reach, and suddenly your knee deepen anxiety with no idea which direction is up. We always compare buying a home to climbing a mountain.

Multiple speakers: But when you follow a proven system like pace, the journey stops feeling overwhelming. And yes, this is the exact system that we teach step by step inside the first home buyer course because you can't afford to wing this. And not only that, I will add The system that we actually use when we're buying client buying properties for our clients in our buyer's agency business.

Multiple speakers: This is so important that you get this right. Let's talk about the first big mistake that people make, Veronica, and that is getting the steps out of sync. All right. Now, this is a classic mistake. We see it every single week, every time we talk to a first home buyer who hasn't done the course, we hear these mistakes, right?

Multiple speakers: So you can go from one extreme to the other, all excited to overwhelmed very, very quickly. And we see that a lot, don't we? In campfire, we, we actually see people that are almost stuck in, and paralyzed with in action because I can't move forward. But that early emotional attachment is really, really dangerous.

Multiple speakers: If you, you know, if you fall in love with a home that actually doesn't match your budget or your lifestyle goals, or your long-term plans. Then you finally speak to a broker and realize you can't borrow anywhere near what you thought. You know, that can be really difficult to deal with. Or even worse, you find the perfect property and only then start your pre-approval and the whole deal falls over because the timing just doesn't work.

Multiple speakers: And, and that's why pace is important. Ation, I see it. Commitment, execution. You've gotta do it in the right order. Yeah, absolutely. I mean, I see it that people are actually looking online and don't realize that the price guides are not what they will sell for. There's a classic mistake anyway. There's lots, lots of mistakes.

Multiple speakers: Okay. Phase one in the PACE system is P stands for preparation, and the step one is to build your team early. It's your support crew. Your support crews, people like your broker, your solicitor, or conveyancer,~ um,~ possibly a building inspector. these are really important to be in place before you even think about searching.

Multiple speakers: Now these people help you interpret the terrain. ~Uh, ~it helps you avoid traps and advocate for your best interests and local knowledge absolutely matters. Generalists or people outside the area can actually miss really crucial details. Independence is also key. Anyone tied to the selling side of the equation cannot give you unbiased advice.

Multiple speakers: The crew. When you get that crew in place ahead of time before you need them, you know that you've got people who are qualified and experienced and are able to protect you. They protect your contract, your money, your sanity. They're the difference between a smooth climb and a dangerous stumble. You know?

Multiple speakers: And in the course that we teach a first time buyer course, we show you exactly how to work out. who you need in your team, but how to work out, uh, whether they should join your team or not. How to vet them, and also how to brief them so that you're fully supported. A really important one, because a lot of people say, I've spoken to a broker, but the question then is, what did you speak them to them about?

Multiple speakers: And maybe you are gonna get the exemption, that's great, but if not, you need to understand, well, how much of it are you gonna be likely needing to save for, you know, building inspections? But then after you purchase as well, you've got council rates, water rates, Strat deliveries, may be insurance, moving costs.

Multiple speakers: There's a whole bunch of,~ uh,~ other additional costs that a lot of first home buyers forget to factor in and they can run short at contract time. And it's incredibly stressful. And in fact, I've just talking to a newly pre-approved first home buyer. Just this morning, and I asked him about his buffers.

Multiple speakers: And we did a great podcast with Stewart Wins just a few episodes ago. You know, he talked about sometimes you need to stretch yourself that little bit that makes you feel a bit sick to get a better asset. You know, not uncomfortable, but just a little bit on its. I was just saying that in Campfire today, actually with the, our Home Buyer Academy students that were in campfire that every single time I bought a property, I felt a bit sick at the time.

Multiple speakers: Even though I'm in the industry and I've done all the work, it is a very emotional, and so there's a, healthy amount of feeling a bit sick versus a unhealthy amount, so it's getting it just right. It's important. It is, absolutely. And, you know, small changes in your spending habit can help with your financial thickness as well.

Multiple speakers: This is all around your wishlist and your sort of five to seven year goals. Yeah. Your plan must be grounded in future you not present you right? So that means thinking about your lifestyle, your career, your relationships, and your financial goals over the next five to seven years. It's hard to. Think about when you are just in the moment of wanting a, a roof over your head.

Multiple speakers: It is really hard, but it's a really important step. Too many first time buyers anchor decisions on current convenience and then outgrow the property within 12, 18 months. And the cost of turnover is huge, which is exactly what I did a long, long time ago. Now, please also stop. Taking advice from your friends cousins neighbor who bought a house 10 years ago under totally different conditions, because outdated or free advice often becomes the most expensive advice you'll ever follow.

Multiple speakers: Planning is about clarity and confidence, and yes, you should set a firm deadline for this phase because without one, you'll sit there forever tinkering with spreadsheets and scrolling online listings, pretending you're making progress. But it's a really important part of the process. It is a really important part of the process and, and you know, I have often,~ um,~ talked about my experience and next week actually after we're doing an episode on what we wish we knew when we were first time vice, so there's a lot of gold in there.

Multiple speakers: So this is where people get it really wrong. They often start searching before they've done steps one, two, and three. But really and truly, you need to get those steps under your belt before you can really make the best use of step four, right? So once your preparation is complete, then you start searching because you're searching must be structured, you know, broad enough to give you options, but intentional enough to avoid overwhelm.

Multiple speakers: And if you plug in every. Desirable suburb and filter everything to a house under 800,000, you're gonna drown in irrelevant listings. So there is a structure that we teach you a process. Yeah. And you might actually miss out on things too. And, and that's a big part of it is, is knowing how to search properly on the portals.

Multiple speakers: You almost need to act like a first time buyer and gather the knowledge in the state that you're buying in We teach you exactly what to ask and what e each answer actually means because you know it's not just about asking a question and getting the answer. What is the, the question that most people ask? Where should I buy? Where should I buy? And it's not the right question. The re no, the exactly it is.

Multiple speakers: The power is in asking really good questions and then understanding how to interpret the answers. But yeah, don't ask this obvious questions that are really unhelpful. Now step five I reckon is, I keep saying this, I think it's my favorite step, right? We've got 10 steps here. This is step five. We're almost halfway through and it's still in action, which is, sounds a bit weird because this is really pause.

Multiple speakers: Just because real properties at real prices often look really different from what you imagined in your planning phase. You may need to adjust your suburbs. You might need to adjust your price expectations or even parts of your crew. It might be that some of them are not serving you well. And this is the time to do it before things get real, you know, before you, the altitude, before the air gets thin.

Multiple speakers: Right? The property portals are not here to validate your strategy, right. They're just tools. Right? Some buyers treat realestate.com au, like a research platform, but it's actually a marketing platform, and it is job is to show you what's for sale and not tell you what it's worth. Right. ~Um, ~and I'll, I'll also put.

Multiple speakers: We teach you the right way to go about this. And you know what? Inside the course, we also show you how to filter out about 80% of unsuitable properties. Four, you waste your time on the weekends and even before you waste your, your emotional energy chasing properties you probably shouldn't touch. Yeah, absolutely.

Multiple speakers: Because, you know, in our businesses we would look at hundreds of properties a week. And I know it sounds like a lot, but in a, in the areas that we look in, we would look at hundreds of properties a week, but we might only inspect 12 or 13 on a Saturday between our whole team. Now you as an individual, you probably can't get through 12 or 13, so you really need To be honing in and making sure that you're eliminating anything that is just absolutely not going to be purchased by you unless you are in just the research phase. And then see as much as you can. Phase three is about commitment.

Multiple speakers: Because understanding the method of sale is absolutely critical. ~Um, ~because the rules are completely different. They're different for each method, but also across states and territories, you know, rules like an auction rule in Queensland is very different to New South Wales is very different to Victoria and so on.

Multiple speakers: Right. There's not a lot of auctions elsewhere. Yes, Adelaide. But you know, and then private treaty rules are different as well. So at auction there's no cooling off period, and you must be fully prepared before you raise your hand. But in private treaty, you often have more flexibility, but there's also more negotiation nuance and whether you add conditions in and really make it.

Multiple speakers: And it was one of the most stressful negotiations, and I was using every trick in my toolkit. We did get the property, but it really came down to not nuancing the conditions to suit the owners who were in a bit of a tricky situation. And that's really how we were able to understand what was gonna work best for them.

Multiple speakers: The other thing is that every state has different laws and it changes what you do and how you do it. Cooling off periods vary, and in some states there's no cooling off. You can actually wave the cooling off condition You, can simply say I wave it in other states.

Multiple speakers: You need a solicitor to issue a specific,~ uh,~ certificate to wave a cooling off period. Now, this is exactly the moment where unprepared buyers make really, really expensive mistakes because they rely on guesswork instead of having a strategy and a well thought out process to follow. So we are still in the sea, which is commitment.

Multiple speakers: This is actually where you kind of push aside in the states where there's a price guide to kind of push it aside and you do the hard work. You're not asking other people what it's worth. You're actually doing your own work. Teach how to do it. You know, it's not just what you're willing to pay, it's what the property's actually worth in the current market.

Multiple speakers: Yeah. And then, you know, once you know that, then you can, I guess, have a more of informed approach to what you're willing to pay. Because you know, agents, price guides are marketing tools. They're not valuations. And even those AVMs that a broker might give you, they're not valuations either. In fact, the banks.

Multiple speakers: You need to learn some of those similar processes, and that's one of the things that we teach you, right? Some properties deserve to command a premium. Others have, uh, cleverly designed duds, we call lipstick on a pig, right? And you need to. Fine tune your little BDI so you can tell the difference, right?

Multiple speakers: You also need your broker reviewing the property and making sure that you know, your finance for that is, relatively, you know, safe, right? And also you need to have a lawyer or conveyance, uh, review the contract and review the conditions and review essential, you know, documents. There's a whole bunch of stuff.

Multiple speakers: ~Um, ~because not all properties are. Contract ready or finance ready. There's things that need to be organized and put in place before you can go ahead and make an offer. This one step alone has saved our buyers from deals that would've fallen apart. And remember Joel, who we interviewed, he's one of our students.

Multiple speakers: When you talk to a broker and you get pre-approval for a certain amount, it also sometimes depends on the postcode that you're buying in, in property type that you're buying. So it's really, really important that you are, you are really aware of your strategy, you're really are aware of the conditions upon which you have got the finance approval.

Multiple speakers: this is great, right? So you've committed, you're in here, but we're gonna execute now. Um,~ Um, ~so done all the due diligence. You've got all your pricing research. You know that this is the one you need to then go into step eight, which is the contract of sale. Now many buyers assume the contract tells 'em everything that they need to know.

Multiple speakers: Well, I've got news for you. It doesn't, and in some states it tells more than others, so you can't even say that. You get all the same information. It doesn't matter where you're buying contracts reveal the basics. They reveal what's been legislated that their owner has to tell you basically, but they also leave a lot out and they hide a lot of the context, risks and implications.

Multiple speakers: You know, does it have. Additions from when it was originally built were those additions approved. The solicitor is not going to know that there are additions that you really have to be on the front foot with these sorts of things. This is your seatbelt, right? This is what's keeping you in the seat and not flying out the window or falling off the cliff.

Multiple speakers: If you skip this review, you may be agreeing to timelines or obligations. You simply cannot meet. Yeah. Or you could have had conditions that protect you that don't exist because you didn't know. So the step nine, so working through e execution, which is the E of Pace. Uh, step nine is negotiation or bidding at auction.

Multiple speakers: So either or, it's all negotiation really. And so all about preparation before you play. ~Uh, ~this is a very important part of the process, but we are getting to the pointy end. It's getting exciting. We are absolutely a strong negotiation is one long before you make the offer. You need to know your clear walkaway point.

Multiple speakers: ~Um, ~you know, I've seen people make offers at the open house for God's sake. You know, that's complete lack of preparation. Age. Just love that 'cause they've got you on. Oh my God, they've got you on the hook now. If you have prepared beforehand, you know, we've had some students that have had to make offers at open houses, 'cause the market's been really competitive.

Multiple speakers: But being prepared is key here. When you negotiate without preparation, you give away leverage. And inside the course we give you the templates and scripts and scenarios so that you do know how exactly how to handle this. And every single negotiation is different. This is the other thing we talk about, not relying on your, on your uncle who bought a house 15 years ago and he's a, he's a big talker.

Multiple speakers: Yes, there is a process and we will teach you that process and that will greatly increase your chances of getting the property that you want at the right price. Absolutely. ~Uh, ~Now we're going into steps 10.

Multiple speakers: This is actually really the fun part. The rest of it is fun for us, Veronica, but probably a little bit stressful for everybody else. But step 10 in execution is settlement. It's when you reach the summit. So settlement isn't just, you know, you paid the deposit and then you just wait for the keys. There's a bit to be done, right?

Multiple speakers: So this is important to understand what it is you need to be doing here. Cooling off periods too, they're all vary widely between states and exiting a contract can cost you money and so you've gotta know, well, under what terms would you do that? There's a lot. The settlement phase, you're not quite home and hosed just after you got your offer accepted.

Multiple speakers: That's right. And you know, there's a final walkthrough that you really need to do, and that is generally called a pre-settlement inspection. It's your last chance to confirm the property In the condition you agreed to buy it in. Okay? So please remember, you know, insurance should start now.

Multiple speakers: And if your insurance doesn't exist, gotta rebuild that property by yourself. So you've gotta be really, really aware. This is really important. Yeah. Too many buyers don't realize that they're legally responsible for the property. From a certain point that is not always settlement. And this again is why it's so important to get the right support crew, because you've got a good solicitor conveyance, so they will advise you of this.

Multiple speakers: But you know, forewarned is forearmed and so you now know that's the snapshot of the 10 steps that that's the pay system, right? That's the pay system. It's your 10 step mat to buying a home without losing your mind or your money. But this is just still the overview. Now if you want the full de full detail, the templates, the checklists, examples, the scripts, that is all inside the first home buyer course.

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Speaker 4: Thanks for joining us. If you've enjoyed this podcast, we encourage you to join our Facebook group. It's called Your First Home Buyer Guide Australia, and it's your opportunity to connect with us and ask us your questions, which we will answer, meaning you can make sure that you are not getting led down the garden path.

Speaker 4: We hope to see you there soon.