The Wealth Guide Podcast
Welcome to The Wealth Guide Podcast, where we discuss and explore ways of helping individuals and businesses achieve their financial goals.
Discover a plethora of knowledge in each episode from our hosts, and industry guest speakers and gain deeper insights and tools to help you make the right choice for a brighter future.
Disclaimer: The information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tailored to your specific situation.
The Wealth Guide Podcast is proudly brought to you by Ryker Capital.
The Wealth Guide Podcast
The Real Costs of Buying Your First Home (And How to Make It Work) | Ep. 52
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In this episode, we have Michaela Shaw, Lending Specialist at MoneyQuest Penrith & Blue Mountains, a finance professional known for making the lending journey feel approachable and stress-free, especially for first-home buyers.
She talks about the mindset blocks holding Gen Z back from entering the property market, the biggest myth about credit scores that could sabotage your borrowing power, and how to take advantage of lesser-known government schemes to get into your first home sooner.
She also discusses how to strategically plan your finances 12–18 months before buying, the unexpected factors lenders consider when assessing your loan, and why working with a mortgage broker and financial adviser can fast-track your journey into the property market.
If you want to take the guesswork out of buying your first home and learn how to make confident, informed decisions about your property journey, then make sure to listen to this episode!
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SHOW NOTES LINKS
https://www.linkedin.com/in/michaela-shaw-742866222/
https://www.moneyquest.com.au/broker/michaela-shaw/
https://www.facebook.com/MoneyQuestBlueMountains/
https://www.facebook.com/MoneyQuestPenrith/
https://www.instagram.com/moneyquest_bluemountains/
https://www.instagram.com/moneyquest_penrith/
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CONTACT US
hello@rykercapital.com.au
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TIME STAMPS:
00:00 - Introduction
00:35 - Importance of Financial Literacy for Home Buyers
02:15 - The Impact of Interest Rates on Borrowing Capacity
04:30 - How to Assess Your Financial Situation Before Buying
07:10 - Common Mistakes First-Time Buyers Make
09:45 - How Much Deposit Do You Really Need?
12:20 - Understanding Home Loan Options and Government Schemes
15:05 - The Importance of Discipline in Saving for a Home
17:30 - Should You Wait or Buy Now? Setting Realistic Expectations
20:15 - First Home vs. Dream Home: What Should You Aim For?
23:00 - How to Evaluate the Property Market and Adjust Your Goals
25:40 - Final Tips for First-Time Home Buyers
27:30 - How to Get