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The Smart Home Buyer’s Guide to Finding “The One” · She's On The Money

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  Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations
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  Speaker 1: woman and I'm here to acknowledge country t glennyan Ganya, Niana,
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  Speaker 1: Kaka yah y and beIN Ahaka Nian our gay In Nibina,
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  Speaker 1: yakarum Jar, Dominyamka Domaga, Ithawakaman, damon Imlan Bumba, bang Gadabomba,
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  Speaker 1: in and now in wakah Ghana on yak rum Jar
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  Speaker 1: water Nadaa. Hello, beautiful friends, we gather on the lands
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  Speaker 1: of the Aboriginal people. We thank acknowledge and respect the
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  Speaker 1: Abiginal people's land that we're gathering on today. Take pleasure
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  Speaker 1: in all the land and respect all that you see.
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  Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,
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  Speaker 1: bringing you the tools, knowledge and resources for you to thrive.
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  Speaker 2: She's on the Money. She's on the Money.
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  Speaker 3: Hello and welcome do She's on the Money, the podcast
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  Speaker 3: that helps you turn bigger money goals into everyday realities
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  Speaker 3: and one of the biggest money dreams so many of
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  Speaker 3: us in the community have. It's buying a home and
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  Speaker 3: in twenty twenty five, it's exciting, it's emotional and let's
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  Speaker 3: be honest it's basically like going to a warehouse sale.
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  Speaker 3: Everyone is fighting over the last dress and you're just
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  Speaker 3: trying to figure out if it actually fits and you
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  Speaker 3: actually want it. So today we are giving you all
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  Speaker 3: the tips and all the tricks and also a lot
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  Speaker 3: of red flags, help you search smarter and buy with confidence.
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  Speaker 3: I'm Victoria Devine and today with me isn't a regular beck,
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  Speaker 3: but someone who's right in the thick of it, our
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  Speaker 3: very own hopeful first home buyer, missus Jesse Garci. Hello,
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  Speaker 3: welcome to this show.
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  Speaker 4: Thank you for having me back.
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  Speaker 3: Honestly, it's it's made sense because everybody always wants to
• 2:03
  Speaker 3: know what's just doing, how's it working, how she bought
• 2:07
  Speaker 3: her first home? Guys, why are you asking? Do you
• 2:09
  Speaker 3: really think that if Jess brought her first home I
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  Speaker 3: wouldn't make six billion Instagram posts about it?
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  Speaker 4: No, don't worry, you.
• 2:15
  Speaker 3: Would know suggests before we dive into the practical, helpful stuff.
• 2:19
  Speaker 3: The community. They they've been demanding an update. Oh also
• 2:23
  Speaker 3: think guys.
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  Speaker 4: Really is sorry much?
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  Speaker 5: It's so nice that you care, like it's really comforting. Sadly,
• 2:27
  Speaker 5: the update is there is no update. It is tough
• 2:30
  Speaker 5: out there. I have been kind of sharing a little
• 2:33
  Speaker 5: bit about some things that have happened on my TikTok,
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  Speaker 5: and it is really lovely to just talk to other
• 2:37
  Speaker 5: people who have all like are experiencing the.
• 2:40
  Speaker 3: Same And you know, we spoke on the podcast a
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  Speaker 3: few weeks.
• 2:43
  Speaker 5: Ago on a Friday episode about I was just saying, like,
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  Speaker 5: how hard it just feels like you're running up here
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  Speaker 5: against cost of living and inflation and rising house prizes
• 2:51
  Speaker 5: and da dada dua hh.
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  Speaker 3: And a lot of people.
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  Speaker 5: Messaged me and said, hey, like, it's not just you,
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  Speaker 5: Like I'm feeling exactly the same, and there's something so
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  Speaker 5: comforting in knowing that, yeah, like I'm not the problem.
• 3:00
  Speaker 4: The world is the problem. So when we have an update,
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  Speaker 4: we'll definitely tell you. Don't worry you. Guys Will were
• 3:04
  Speaker 4: the first people to.
• 3:05
  Speaker 3: Know, Yeah, it's It's actually crazy because in the background
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  Speaker 3: I get to kind of watch what's going on, and
• 3:10
  Speaker 3: I get to snoop on the house as you're looking
• 3:11
  Speaker 3: at It can be so disheartening because like I can
• 3:14
  Speaker 3: see you get your heart set on something and I'm like,
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  Speaker 3: all of a sudden, it's going for one hundred thousand
• 3:19
  Speaker 3: dollars more than what they had listed it for, and
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  Speaker 3: it just it just feels icky. It just feels gross.
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  Speaker 3: It feels like, why bother spending money on a building
• 3:29
  Speaker 3: and pest inspection. It's like flushing a couple of one
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  Speaker 3: hundred dollars down the drain for someone to say, yeah, Jess,
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  Speaker 3: it is a great house, like there's nothing wrong with it,
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  Speaker 3: and then bam, they've I don't know, obviously we can't
• 3:40
  Speaker 3: say oh, they've definitely been under quoting.
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  Speaker 4: But Life said that.
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  Speaker 3: I was going to say, we can't prove it because
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  Speaker 3: like at the end of the day they've listed it
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  Speaker 3: and said, oh, as a experienced real estate agently, let's
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  Speaker 3: say I think this house is going to go for
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  Speaker 3: six hundred thousand dollars. And then the beauty of an
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  Speaker 3: action is like it don't have to go for the
• 4:00
  Speaker 3: listed price. You don't go, oh, okay, if it's listed for
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  Speaker 3: six hundred grand, I'll give you that, and then wham bam,
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  Speaker 3: thank you ma'am. Like it becomes a bidding war. But like, yeah,
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  Speaker 3: they know, they know that the competition is there, and
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  Speaker 3: they know that it's going to be driven up anyway.
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  Speaker 3: It just makes me quite frustrated. Miss Jess good Reachie.
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  Speaker 4: I completely agree, and I think we're going to talk
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  Speaker 4: about that a little.
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  Speaker 3: Bit later too, totally. And I feel like lots of
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  Speaker 3: our community are listening to this going, oh my goodness,
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  Speaker 3: like that's my experience as well. So let's zoom out
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  Speaker 3: for a hot second, because house hunting in twenty twenty
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  Speaker 3: five is fraught with I don't know things that we're
• 4:32
  Speaker 3: all tripping over and we're all feeling sick about, and
• 4:35
  Speaker 3: it's honestly just it's not just you, it's I would say,
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  Speaker 3: objectively chaotic. And let me give you, I guess a
• 4:42
  Speaker 3: little bit of a zoomed out update as to what's
• 4:45
  Speaker 3: been going on because I embarrassed myself on social media
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  Speaker 3: the other day. Did you see that where it's just like, yeah,
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  Speaker 3: I think that the interest rate is going to drop
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  Speaker 3: by point two five.
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  Speaker 4: It's fine.
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  Speaker 3: CBO is saying the same thing, like I think like
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  Speaker 3: eighty percent of economists were like, yep, it's going to drop.
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  Speaker 3: Should I have listened to them? Clearly not, because the
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  Speaker 3: interest rate cut didn't happen when I thought it was
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  Speaker 3: going to happen. But the RBA's interest rate cuts happened
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  Speaker 3: in February and then again in May. It's actually made
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  Speaker 3: money cheaper. So like that's the beauty if you have
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  Speaker 3: a savings account, not a money win because you're losing
• 5:19
  Speaker 3: your interest rate there. But at the same time, on
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  Speaker 3: the flip side, if you're a first home buyer, it
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  Speaker 3: like opens up your borrowing capacity a little bit more
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  Speaker 3: because if you're paying less for the money to borrow,
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  Speaker 3: you can borrow more of it Jess, Which that sounds
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  Speaker 3: good right in theory. What that does is that boosts
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  Speaker 3: by a confidence, so like it gives people like you
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  Speaker 3: a little bit more of a pep in your steps
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  Speaker 3: so that you go, Okay, I've got a little bit
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  Speaker 3: extra in the play with, Like I've got another twenty
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  Speaker 3: thousand dollars that I was able to put on top
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  Speaker 3: of my like borrowing capacity, I can get something else.
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  Speaker 3: And what that does, unfortunately is pushes prices higher because
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  Speaker 3: you and every other first home buyer are in exactly
• 5:57
  Speaker 3: the same situation. Yeah, the medium property price for our
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  Speaker 3: combined Australian capital cities now sits at get this, nine
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  Speaker 3: hundred and eighteen four hundred and eight dollars. I believe it.
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  Speaker 3: It's crazy. It actually makes me so frustrated because this
• 6:15
  Speaker 3: means that a nine hundred plus thousand dollar house. Technically,
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  Speaker 3: and I'm not saying this is true, but technically it's
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  Speaker 3: not a luxury anymore.
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  Speaker 4: It's not home in the suburbs, you know.
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  Speaker 5: I'm looking well outside of the city and a lot
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  Speaker 5: of the out like very stock standard, like not done up,
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  Speaker 5: no big crazy upgrades. Maybe a four hundred square block yep,
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  Speaker 5: I'm going for eight to nine.
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  Speaker 3: And that's like the new benchmark. Yeah, And I think
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  Speaker 3: that's terrifying because I don't know, maybe I am a
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  Speaker 3: little bit romantic about my childhood or my upbringing, but
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  Speaker 3: do you remember like driving past houses and your parents
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  Speaker 3: being like, what that would be a million dollar home
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  Speaker 3: and it honestly looked like a mansion. You'd be like,
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  Speaker 3: oh my god, like that's so big, get like the
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  Speaker 3: big gates at the front. Sorry, that's like now just
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  Speaker 3: just a urban home.
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  Speaker 5: Yeah.
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  Speaker 3: It makes me so uncomfortable, and honestly because of population
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  Speaker 3: growth and because it's now becoming even more I want
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  Speaker 3: to say accessible, but people are going to go Victoria.
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  Speaker 3: It's not accessible, but it actually is. There are more
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  Speaker 3: people in the market with more borrowing capacity. Which means
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  Speaker 3: that there are fewer homes on the market right now.
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  Speaker 3: So advertised stock is currently sitting at sixteen point seven percent,
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  Speaker 3: and this is below the five year average. And in
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  Speaker 3: June twenty twenty five, which was literally like ten days
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  Speaker 3: ago as of recording, only thirty three thousand new listings
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  Speaker 3: went live across the entire country, which was the lowest
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  Speaker 3: this time of year since early COVID days. And everyone
• 7:52
  Speaker 3: couldn't be bothered selling their house during COVID because you
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  Speaker 3: couldn't do open for inspections, You couldn't do anything. What
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  Speaker 3: is that saying about our economy? And that's scarcity and
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  Speaker 3: you're probably feeling this if not many homes are going
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  Speaker 3: on the market. Scarcity is driving up competition and it's
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  Speaker 3: making you consider spending even more on that property because
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  Speaker 3: it's basic supply and demand.
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  Speaker 5: Yeah, it's really interesting to see. I know that I'm
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  Speaker 5: looking at like for my journey purchasing a very specific area.
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  Speaker 5: So maybe it's not the best example of what's happening everywhere,
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  Speaker 5: but it really does feel like so few homes are
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  Speaker 5: coming onto the market. I think that vendor expectations are
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  Speaker 5: also really high because they're seeing, oh, well, this house
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  Speaker 5: down the streets sold for so much because if there
• 8:35
  Speaker 5: was a lot of competition or whatever. So they're setting
• 8:37
  Speaker 5: their price ranges higher, or they're setting their reserves.
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  Speaker 4: At auction higher.
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  Speaker 5: It feels like it's got to hit a ceiling, but
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  Speaker 5: I don't know when it will.
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  Speaker 3: It definitely isn't just in your area. I think it's
• 8:48
  Speaker 3: happening everywhere. In fact, I've shared on social media recently
• 8:52
  Speaker 3: that I'm currently planning to sell my house and so
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  Speaker 3: We've done a little bit of landscaping out the front.
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  Speaker 3: We're about to paint the facade so that we can
• 8:59
  Speaker 3: get some pretty picture it's done. And I was talking
• 9:01
  Speaker 3: to my real estate agent literally yesterday. He gave me
• 9:04
  Speaker 3: a call and was like, Hey, I was thinking, what
• 9:06
  Speaker 3: we do is bring the auction up. And the reason
• 9:09
  Speaker 3: we're bringing the auction up is because there's not that
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  Speaker 3: many other properties that are going to be on the
• 9:14
  Speaker 3: market during that period of time, which, from all intents
• 9:19
  Speaker 3: and purposes, means that me as a seller, it's actually
• 9:23
  Speaker 3: better for me. He's like, oh, are you sure to
• 9:26
  Speaker 3: be quite clear, we haven't moved the auction up because
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  Speaker 3: it just doesn't work for me in terms of time frames,
• 9:33
  Speaker 3: but there's also that strategy going on in the background.
• 9:36
  Speaker 3: Like me, as a seller, I want to make sure
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  Speaker 3: that the home that I purchased became a good investment
• 9:42
  Speaker 3: when I sold it. So like if my real estate
• 9:45
  Speaker 3: agent is saying, hey, Victoria, like it would make sense
• 9:47
  Speaker 3: to auction it here, Like I didn't realize how much.
• 9:50
  Speaker 3: And we can do a whole podcast on this later
• 9:52
  Speaker 3: from the vendor perspective, But I didn't realize how much
• 9:55
  Speaker 3: strategy goes in to selling a house. Like I said
• 9:59
  Speaker 3: to our real estate agent, Oh, well, you know, in
• 10:02
  Speaker 3: terms of time frames, it would actually be really good
• 10:04
  Speaker 3: for like us personally, We've got some life things going on.
• 10:07
  Speaker 3: End of September would be great, and he was like, oh, no,
• 10:10
  Speaker 3: you can't do. End of September. All of the private
• 10:13
  Speaker 3: schools are on holiday. All of the people that you
• 10:16
  Speaker 3: probably want to be looking at your house and considering
• 10:18
  Speaker 3: your house and have a little bit more borrowing capacity
• 10:21
  Speaker 3: there on holidays. Yeah, and September of school holidays, that's
• 10:24
  Speaker 3: when I would say most of my friends used to
• 10:26
  Speaker 3: go away, So that made sense in my head. Yeah, anyway,
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  Speaker 3: it can be really really frustrating. So now that I
• 10:34
  Speaker 3: guess we know a little bit about what we're up against.
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  Speaker 3: And I've mentioned strategy. Let's not talk about vendor strategy,
• 10:40
  Speaker 3: but let's talk about your strategy. Yes, because scrolling real estate,
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  Speaker 3: dot com, dot you, I feel like it's like going
• 10:47
  Speaker 3: on Pinterest and sadly it's not gonna cut it. Like
• 10:52
  Speaker 3: you can't just do that and say that you've been
• 10:54
  Speaker 3: doing your research. So I thought that you and I
• 10:56
  Speaker 3: would sit down because you're really good at this. You
• 10:58
  Speaker 3: might not have secured your first home, but you're really
• 11:00
  Speaker 3: good at this. But we're going to give you our
• 11:02
  Speaker 3: tips for searching smarter, spotting red flags, and finding the
• 11:07
  Speaker 3: hidden stuff that lots of buyers miss. Jess, I need
• 11:11
  Speaker 3: you to be really honest. I'm not going to look
• 11:13
  Speaker 3: at your phone in your screen time, But do you
• 11:16
  Speaker 3: spend a lot of time on real estate website?
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  Speaker 5: I check them every day. I check real estate, dot comm,
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  Speaker 5: doty and domain every day.
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  Speaker 3: And what would you say are your top tips when
• 11:27
  Speaker 3: you're opening up that app? Definitely don't overfilter.
• 11:31
  Speaker 5: I feel like a lot of buyers really overfilter when
• 11:34
  Speaker 5: they're on those websites, and it means that properties are
• 11:36
  Speaker 5: falling outside of your catchment and you could miss them.
• 11:39
  Speaker 5: When I search, I actually don't put any filters on.
• 11:43
  Speaker 5: I don't even I'll search the suburb and.
• 11:46
  Speaker 3: Then because just knows what's going on for the entire
• 11:48
  Speaker 3: suburb at this point, I'll search the suburb.
• 11:51
  Speaker 5: I won't put bedrooms or bathrooms because often real estate
• 11:54
  Speaker 5: agents miss label too. It's really common for them to put, oh,
• 11:58
  Speaker 5: there's three bedrooms with that's actually or the block size
• 12:01
  Speaker 5: is this, but it's actually that. So I often actually
• 12:03
  Speaker 5: won't put any filters on at all. I'll just search
• 12:06
  Speaker 5: the suburb. I won't even differentiate because I'm looking at
• 12:09
  Speaker 5: buying and also considering building. I won't even differentiate between
• 12:13
  Speaker 5: like what property type. I'll just search the suburb, and
• 12:16
  Speaker 5: then I'll zoom in on the map. So if you're
• 12:18
  Speaker 5: on an app for real estate or domain, you can
• 12:21
  Speaker 5: adjust the map section that you're looking at. You can
• 12:24
  Speaker 5: zoom in and out and it will show you all
• 12:26
  Speaker 5: the properties. That's what I do to crease on my neighbors. Yeah, yeah,
• 12:29
  Speaker 5: exactly right, it's perfect, And I think by doing that
• 12:32
  Speaker 5: you can then you click on the dot and it'll
• 12:34
  Speaker 5: show you the preview and from there you go Okay,
• 12:36
  Speaker 5: well that house looks big enough. Well that house doesn't
• 12:38
  Speaker 5: look big enough. But by doing that, you're making sure
• 12:40
  Speaker 5: that you're not letting things fall through the cracks because
• 12:42
  Speaker 5: of filters. I also check both platforms because agents don't
• 12:46
  Speaker 5: have to list across both platforms. Sometimes the data doesn't
• 12:50
  Speaker 5: pull across to one properly.
• 12:52
  Speaker 3: And it actually costs some money. So like it costs
• 12:55
  Speaker 3: a real estate money to list on real estate dot
• 12:57
  Speaker 3: com dot au and sometimes they'll only list on that
• 12:59
  Speaker 3: because they want to also pay the domain fee, which
• 13:02
  Speaker 3: makes sense. But yeah, as a buyer, you need to
• 13:04
  Speaker 3: know that because you might think that our real estate
• 13:06
  Speaker 3: and domain they're in competition, like they'll both have the
• 13:09
  Speaker 3: same stuff they do not.
• 13:11
  Speaker 5: Correct, So I always check both platforms. I would really
• 13:13
  Speaker 5: recommend being that. I also, you know, up for debate.
• 13:17
  Speaker 5: Whether or not this is for you depends how crazy
• 13:19
  Speaker 5: you are. I check Facebook, Marketplace. We are also crazy.
• 13:22
  Speaker 3: We are also like we are de Lulu and we
• 13:25
  Speaker 3: just want our first home and we don't want to
• 13:26
  Speaker 3: be taken advantage job genuinely check Facebook workplace.
• 13:29
  Speaker 4: Check your local if there's like a Facebook.
• 13:31
  Speaker 5: Page for your area or your state, or you know
• 13:33
  Speaker 5: where you want to be buying, because sometimes vendors will
• 13:35
  Speaker 5: try and avoid the marketing fees that do come with
• 13:38
  Speaker 5: taking beautiful photos.
• 13:39
  Speaker 4: And listing on those websites.
• 13:41
  Speaker 5: And you know, sometimes agents will say, oh, I have
• 13:43
  Speaker 5: a list of buyers that I can take this to,
• 13:46
  Speaker 5: and in the background they also want to get some
• 13:47
  Speaker 5: extra eyeballs on it, so they might throw it up
• 13:49
  Speaker 5: on a Facebook or a community group. You can search
• 13:52
  Speaker 5: by a suburb, you can add house or whatever. You
• 13:55
  Speaker 5: can do the same thing. You kind of look at
• 13:56
  Speaker 5: a map area. I've actually seen quite a lot of
• 13:58
  Speaker 5: properties pop up on there like it might be a
• 14:01
  Speaker 5: vendor wants to sell direct, they don't even want to
• 14:03
  Speaker 5: go through an agent, which is like a whole other thing.
• 14:04
  Speaker 5: But it's worth looking, I think, especially in this market.
• 14:08
  Speaker 3: Where it's so hard. I'm always looking, and even when
• 14:11
  Speaker 3: I wasn't like in the market for buying, like I
• 14:14
  Speaker 3: run a mortgage broking business, I'm always looking at properties.
• 14:17
  Speaker 3: The thing I like about that map area is on
• 14:21
  Speaker 3: the first go, you're like, oh my goodness, this can
• 14:23
  Speaker 3: be quite overwhelming. But as time goes on, the ones
• 14:26
  Speaker 3: that you've already clicked at gray and the new ones
• 14:29
  Speaker 3: are red, so you kind of go, oh, look in
• 14:32
  Speaker 3: the exact area that I want, there are three new
• 14:34
  Speaker 3: property and you just click on the new ones and
• 14:37
  Speaker 3: it can be really I don't know, it can be
• 14:39
  Speaker 3: really helpful being like, okay, I have seen all of
• 14:43
  Speaker 3: those and then you can kind of like save your
• 14:44
  Speaker 3: favorites or whatnot. I feel like this has been a
• 14:47
  Speaker 3: big conversation, not just for you and I, but for
• 14:51
  Speaker 3: my team and our current clients. But as far as
• 14:55
  Speaker 3: price expectations go, how far off are the listings from
• 15:01
  Speaker 3: what you're actually seeing themselves or because like I could
• 15:03
  Speaker 3: do a deep dive into the data and tell you, yeah,
• 15:06
  Speaker 3: but like what are you actually seeing on the ground.
• 15:08
  Speaker 5: So I know that we always, like you and I
• 15:10
  Speaker 5: have had a conversation about like always expect at least
• 15:12
  Speaker 5: ten percent over it. I think that's pretty standard for auction.
• 15:15
  Speaker 5: More and more I am seeing agents under quoting, particularly
• 15:19
  Speaker 5: with auction listings, and the way that you can check this.
• 15:22
  Speaker 5: I believe we have an episode of the Property Playbook
• 15:24
  Speaker 5: that you can go back and listen to you on
• 15:25
  Speaker 5: this topic. But you should be looking at sold listings,
• 15:28
  Speaker 5: finding compower properties. Theoretically, that is a real estate agent's
• 15:32
  Speaker 5: job in Victoria specifically, and this does vary very vastly
• 15:36
  Speaker 5: stay to state, but in Victoria specifically, where obviously I'm
• 15:39
  Speaker 5: looking to buy, they are required legally or to provide
• 15:42
  Speaker 5: three comparable sold properties on the SOI the statement information. Yeah,
• 15:46
  Speaker 5: the only reason they would not do that is if
• 15:49
  Speaker 5: they can't find three comparable properties, which in this economy
• 15:52
  Speaker 5: I think is quite rare. But a lot of them
• 15:55
  Speaker 5: are really sketchy with the way that they do that,
• 15:57
  Speaker 5: and they use it to justify a price, which you know,
• 16:01
  Speaker 5: as someone who has also worked in real estate, I've
• 16:03
  Speaker 5: seen it happen firstend, and I think that it's really
• 16:05
  Speaker 5: frushrating because the reason they do that is they want
• 16:07
  Speaker 5: to get as much interest as possible, and they know
• 16:10
  Speaker 5: that they can do that by making it more affordable
• 16:12
  Speaker 5: if it's going to auction, the ideas that you can
• 16:14
  Speaker 5: then get multiple buyers that are emotionally invested in buying
• 16:17
  Speaker 5: this house, who then bid competitively, drive the price up
• 16:21
  Speaker 5: and ultimately, you know, create a better result for the vendor.
• 16:24
  Speaker 3: Yeah.
• 16:25
  Speaker 5: So I feel like there's a lot of underquoting going on,
• 16:27
  Speaker 5: and people have you know, when I've spoken about it,
• 16:30
  Speaker 5: people have replied to me and said, I'm seeing the
• 16:31
  Speaker 5: same thing. Report it. There is a reporting process. You
• 16:35
  Speaker 5: can do it through Consumer Affairs and.
• 16:37
  Speaker 3: You absolutely should.
• 16:38
  Speaker 4: Yeah.
• 16:38
  Speaker 5: It relies a lot on self regulation, so like we
• 16:42
  Speaker 5: want it to stop, let's stop them.
• 16:44
  Speaker 3: Yeah, and you touched on something that I preach on
• 16:48
  Speaker 3: a daily basis, and that's going through the sold tab.
• 16:51
  Speaker 3: And obviously we're not going through the sold tab and
• 16:53
  Speaker 3: being like, wish I could have had that one, but
• 16:55
  Speaker 3: it's sold.
• 16:56
  Speaker 4: I do do that.
• 16:57
  Speaker 3: Yeah, it's the same same, But we're going to go
• 17:00
  Speaker 3: through the sold tab. And in a perfect world, I
• 17:02
  Speaker 3: want you to go through that sold tab and pick
• 17:05
  Speaker 3: out ten, yes, ten properties that you would have purchased yeah,
• 17:10
  Speaker 3: or that you think really nice. And the reason we're
• 17:14
  Speaker 3: going to do that is one, we're setting a clear
• 17:16
  Speaker 3: price expectation. Because it's going to say, this property sold
• 17:20
  Speaker 3: for seven hundred thousand dollars and that might be your budget.
• 17:23
  Speaker 3: We're going to look at what it was listed for.
• 17:24
  Speaker 3: Might've enlisted for six hundred and ten, but it went
• 17:27
  Speaker 3: for seven hundred. What we're also going to do is,
• 17:31
  Speaker 3: through that process, understand a bit more about us. You
• 17:35
  Speaker 3: might go, oh, that's really nice, and I go hold
• 17:37
  Speaker 3: on jest. Didn't you say that you wanted a three
• 17:38
  Speaker 3: bedroom house and you go, oh, yeah, but this is
• 17:40
  Speaker 3: true bedrooms and a study and like that study nook
• 17:44
  Speaker 3: actually does what I need it to do, so I
• 17:46
  Speaker 3: don't need three bedrooms, and I go okay, So that
• 17:49
  Speaker 3: could be a valid compromise you're willing to make in
• 17:51
  Speaker 3: the future. Or you might go, oh, I love this house, Victoria,
• 17:55
  Speaker 3: I was going to put it on my list. Had
• 17:57
  Speaker 3: no outdoor entertaining space, like no backyard at all, and
• 18:01
  Speaker 3: that's a hard no go for me. I want a dog,
• 18:03
  Speaker 3: Like the whole reason I'm purchasing property is that I
• 18:06
  Speaker 3: can get my own dog. That's the most beautiful home
• 18:08
  Speaker 3: I've ever seen, but it doesn't have a garden. Yeah.
• 18:11
  Speaker 3: So I think that's going to give you not only
• 18:14
  Speaker 3: a reality check when it comes to pricing, but also
• 18:17
  Speaker 3: give you a good idea on what you're willing to
• 18:19
  Speaker 3: compromise on. Because if I sat you down in isolation,
• 18:22
  Speaker 3: I said miss JESSCOTRICHI what are you willing to compromise on?
• 18:26
  Speaker 3: You'd be like, well, I mean I want three bedrooms,
• 18:29
  Speaker 3: and I'll be like any compromises You'd be like, no,
• 18:32
  Speaker 3: that's what I said, yeah, and it's so hard to
• 18:35
  Speaker 3: work out what you'd compromise on unless you're able to
• 18:38
  Speaker 3: be shown a few compromises that you'd be like, oh,
• 18:40
  Speaker 3: hold on, yeah, maybe it'd actually be fine. Yeah, that'd
• 18:43
  Speaker 3: actually be fine. So for me, that's really helpful. You
• 18:46
  Speaker 3: also before I feel like I'm like, oh my god,
• 18:48
  Speaker 3: you said this and this and this, and I'm trying
• 18:50
  Speaker 3: to keep up. You also said before in Victoria they
• 18:52
  Speaker 3: have to tell you the price. Money win for us
• 18:55
  Speaker 3: because to me, that contributes to more clarity. But that's
• 18:59
  Speaker 3: not Australia wide. So if you're in a different state,
• 19:04
  Speaker 3: I actually have a really sneaky hack for you. When
• 19:07
  Speaker 3: it says for sale but then it has no price listing.
• 19:11
  Speaker 3: So what the agent had to do to get that
• 19:14
  Speaker 3: property online is they still had to enter a price
• 19:17
  Speaker 3: range in the back end so that it shows up
• 19:19
  Speaker 3: in search results. So you know how you like filter
• 19:21
  Speaker 3: on real estate dot com dot un You go maximum
• 19:24
  Speaker 3: eight hundred thousand dollars or whatever, and then properties show up,
• 19:27
  Speaker 3: but they don't have a pricing. The reason they do
• 19:30
  Speaker 3: is because their back end is coded. So we are
• 19:32
  Speaker 3: going to hack the system. So I'm going to put
• 19:35
  Speaker 3: this obviously probably in the show notes or on our
• 19:37
  Speaker 3: website or on an Instagram or somewhere that you can
• 19:39
  Speaker 3: find them. What you're going to do is open the
• 19:41
  Speaker 3: property listing and you have to be on Google Chrome.
• 19:45
  Speaker 3: Can't be on your phone. You have to be on
• 19:46
  Speaker 3: Google Chrome. You're going to right click anywhere on the
• 19:49
  Speaker 3: listing and you're going to feel like a hacker because
• 19:52
  Speaker 3: you're going to click view page source and on the
• 19:55
  Speaker 3: right side is going to pop up like a whole
• 19:58
  Speaker 3: heap of code. Stress. I'll teach you how to be
• 20:01
  Speaker 3: the hacker. Right control F or command F on a Mac.
• 20:06
  Speaker 3: You're going to like control F is fined, so then
• 20:09
  Speaker 3: you don't have to like scroll through the code and
• 20:11
  Speaker 3: look for this. You're going to type in and this
• 20:13
  Speaker 3: is why it's going to go in the show notes
• 20:15
  Speaker 3: marketing underscore price, underscore range. Right, You're going to hit
• 20:21
  Speaker 3: enter and just like that, you're going to see in
• 20:24
  Speaker 3: the code that code that I just showed you, so
• 20:27
  Speaker 3: the marketing price range, and right beside it will be
• 20:31
  Speaker 3: the price range that that real estate agent picked. So
• 20:34
  Speaker 3: it might be like one point five m underscore two
• 20:37
  Speaker 3: M because they've picked that bracket, or it might be
• 20:40
  Speaker 3: like five hundred underscore six hundred. Bam, you have an
• 20:44
  Speaker 3: idea of what that real estate agent categorized that property as.
• 20:49
  Speaker 3: Even if they didn't put it on the listing, we
• 20:52
  Speaker 3: found it in the back end, and they're not going
• 20:53
  Speaker 3: to like that. I shared that, but sorry, was on
• 20:56
  Speaker 3: the internet and that was free information, and then that's
• 20:59
  Speaker 3: basically that's just research.
• 21:01
  Speaker 4: Sorry, it's giving superspy.
• 21:03
  Speaker 3: Yeah, and obviously that means that you can look at
• 21:05
  Speaker 3: a property and go, oh, actually I thought that was
• 21:08
  Speaker 3: going to be seven hundred grand. I can't believe it's
• 21:10
  Speaker 3: like listed for eight fifty to nine hundred. Yeah, I'm
• 21:12
  Speaker 3: not going to waste my time on that property. Or
• 21:15
  Speaker 3: it's really good for prepping your offer, Like if they're like, oh,
• 21:19
  Speaker 3: put in your best and fairest or whatever it is,
• 21:21
  Speaker 3: you can go, okay, well I know on the back
• 21:24
  Speaker 3: end that this real estate agent put this particular bracket.
• 21:27
  Speaker 3: It gives you a little bit of bargaining room, which
• 21:29
  Speaker 3: is really good. Jess, you talked about before as well,
• 21:32
  Speaker 3: Facebook Marketplace. I feel like, to me, obviously it's fine,
• 21:38
  Speaker 3: But at the start of this journey, had you been like, yeah,
• 21:42
  Speaker 3: I founded on Facebook Marketplace, so the baby's on a scam, like,
• 21:45
  Speaker 3: not sure it's legit. Lots of people are now turning
• 21:48
  Speaker 3: to Facebook, marketplace, but online searches are not the only
• 21:51
  Speaker 3: ways that you're able to find property, Jess, how are
• 21:54
  Speaker 3: you finding property that maybe isn't listed online?
• 21:57
  Speaker 5: Looking off market is such a big thing because, as
• 22:00
  Speaker 5: I said, there might be people who are trying to
• 22:02
  Speaker 5: save marketing dollars. There's often people who have said, oh, like,
• 22:05
  Speaker 5: we're thinking about.
• 22:06
  Speaker 4: Moving, but we're not sure.
• 22:08
  Speaker 5: If the house were to sell, then sure, So they
• 22:10
  Speaker 5: might have listed with an agent, but they haven't committed fully,
• 22:13
  Speaker 5: so the property is off market. Around twenty percent of
• 22:16
  Speaker 5: homes actually never make it.
• 22:17
  Speaker 4: To real estate dot com dot are you.
• 22:18
  Speaker 5: They're snapped up off market and passed around between agents
• 22:22
  Speaker 5: and buyers behind the scenes.
• 22:23
  Speaker 3: Because it's how I got my first home.
• 22:25
  Speaker 5: It yeah, and it's great as a buyer because it
• 22:28
  Speaker 5: means that you're avoiding the competition right Like you're not
• 22:30
  Speaker 5: going to the auction with ten other invested people. It's
• 22:33
  Speaker 5: just you putting your best offer forward hopefully you know,
• 22:36
  Speaker 5: getting yourself a hot deal or making it work. So
• 22:39
  Speaker 5: if your strategy starts and ends with a real estate website,
• 22:42
  Speaker 5: you're missing out on theoretically one in five opportunities. And
• 22:46
  Speaker 5: often the off market properties go for less because the
• 22:49
  Speaker 5: owner might be wanting to sell quickly, or like I said,
• 22:52
  Speaker 5: there's just less competition.
• 22:53
  Speaker 3: And that's what happened in my situation. So I'm sure
• 22:57
  Speaker 3: I've spoken about this comprehensively on the podcast, and I
• 23:00
  Speaker 3: I'm sure we're going to talk about it again because
• 23:01
  Speaker 3: I'm about to sell this property. But when I purchased
• 23:05
  Speaker 3: my property, it was September twenty twenty, so we were
• 23:07
  Speaker 3: kind of like in a lull of COVID, Like you
• 23:10
  Speaker 3: know how we came out of one big lockdown and
• 23:12
  Speaker 3: we were about to go into another one, but we
• 23:13
  Speaker 3: didn't know. So we were looking for our first home
• 23:17
  Speaker 3: and a real estate agent had this off market property
• 23:21
  Speaker 3: coincidentally because the owners they were Chinese and they had
• 23:25
  Speaker 3: actually moved back to China, so they were out of
• 23:28
  Speaker 3: the country and they had basically said to this real
• 23:30
  Speaker 3: estate agent, we actually don't care, just get rid of
• 23:33
  Speaker 3: the property. It was kind of like the perfect storm.
• 23:36
  Speaker 3: They moved because of COVID. They were like not very
• 23:39
  Speaker 3: happy apparently with the way that the Australian government was
• 23:42
  Speaker 3: dealing with COVID and the lockdowns. They weren't happy with that. Fine,
• 23:46
  Speaker 3: I totally get that. So they the second the lockdown ended,
• 23:49
  Speaker 3: they moved. So this house was not i would say,
• 23:52
  Speaker 3: not photo ready.
• 23:54
  Speaker 4: Yeah, it was not stage or anything like.
• 23:56
  Speaker 3: It wasn't staged. There was some old furniture left that
• 24:00
  Speaker 3: they had just left because they clearly didn't want to
• 24:02
  Speaker 3: take it with them, but someone had to do something
• 24:05
  Speaker 3: with it. And like she was not ready for sale.
• 24:08
  Speaker 3: Like there was a lot of things that I personally
• 24:10
  Speaker 3: would have done to that house just to like increase
• 24:13
  Speaker 3: how much I sold it for. But then said to
• 24:15
  Speaker 3: their real estate agent, who had helped them buy the
• 24:17
  Speaker 3: house in the first place, just get rid of it.
• 24:20
  Speaker 3: I don't care. And for her that made her job
• 24:22
  Speaker 3: a little bit hard because she doesn't have the beautiful
• 24:25
  Speaker 3: photos to put online. She's not gaining a heap of interest.
• 24:28
  Speaker 3: But she did have connections, so she just came directly
• 24:31
  Speaker 3: and said, I've got a property. I don't want to
• 24:33
  Speaker 3: have to style it. I don't want to have to
• 24:34
  Speaker 3: get it organized. The owners they live overseas now and
• 24:38
  Speaker 3: they just want this property gone. So if you offered X,
• 24:41
  Speaker 3: we'd take it cool, I'll offer X, I suppose. And
• 24:46
  Speaker 3: the reason we did that, and do you know what,
• 24:48
  Speaker 3: it was a really stressful process. Happened within twenty four hours, crazy,
• 24:52
  Speaker 3: and the reason we got it was because she didn't
• 24:55
  Speaker 3: want to have to go through that staging process. But
• 24:57
  Speaker 3: if she didn't find someone off market, she was just
• 24:59
  Speaker 3: going to high Some people get it all done obviously,
• 25:02
  Speaker 3: charge the owner and get it online. But she was like,
• 25:05
  Speaker 3: if you want it before it goes online, this amount
• 25:07
  Speaker 3: would be fine. Yeah, money win you you have a
• 25:09
  Speaker 3: hot deal. Honestly, it was really good. Thanks for moving
• 25:12
  Speaker 3: back to your country, Like see you. That worked for me.
• 25:16
  Speaker 3: And I think that your stat about you know, you're
• 25:20
  Speaker 3: basically missing one in five opportunities. That's where you need
• 25:23
  Speaker 3: to kind of like rub shoulders with the real estate
• 25:25
  Speaker 3: agents and make it very clear that you are a
• 25:28
  Speaker 3: first home buyer, you've got your pre approval, you're all
• 25:31
  Speaker 3: ready to go and this is what you're looking for.
• 25:33
  Speaker 3: There was actually a stat that came out so a
• 25:36
  Speaker 3: recent prop Track analysis showed that nationally, on averages, houses
• 25:41
  Speaker 3: sell for four point three percent less money when they
• 25:45
  Speaker 3: are sold off market. So in Sydney that can be
• 25:48
  Speaker 3: like a saving of sixty grand lesson in Melbourne up
• 25:51
  Speaker 3: to like thirty thousand dollars.
• 25:52
  Speaker 4: Less say less, sign me up for that please, I know.
• 25:55
  Speaker 4: And like that was just from like.
• 25:58
  Speaker 3: Rubbing shoulders with the right real ess state agent and
• 26:01
  Speaker 3: she knew so she'd been prepped. Hey, I've got this
• 26:04
  Speaker 3: local buyer in your area, because she only sold property
• 26:07
  Speaker 3: in the suburbs that I was looking. I've got this buyer.
• 26:10
  Speaker 3: They want a X bedroom house, they want this and that.
• 26:13
  Speaker 3: That's why she came forward and said, hold on, hold on,
• 26:15
  Speaker 3: I think I've got a property you might be interested in.
• 26:18
  Speaker 3: Put yourself in that position. Yeah, because not only are
• 26:20
  Speaker 3: you saving money, I can't think of anything worse than
• 26:24
  Speaker 3: an auction, Jessica. It gives me such bad anxiety. So
• 26:29
  Speaker 3: I want to know when it comes to, you know,
• 26:31
  Speaker 3: rubbing shoulders with real estate agents, putting yourself in the
• 26:34
  Speaker 3: best possible position, what is your strategy for gaining access
• 26:37
  Speaker 3: to off market properties? Because I know you haven't hired
• 26:40
  Speaker 3: a buyer's agent.
• 26:41
  Speaker 5: No, so you've got to You've got to talk to
• 26:43
  Speaker 5: the agents when you go to open for inspections. Make
• 26:45
  Speaker 5: yourself known. There are a number of agents that have
• 26:48
  Speaker 5: you know, called or text me to be like, oh,
• 26:49
  Speaker 5: we've had this property doesn't fit your needs. Da da
• 26:51
  Speaker 5: da da.
• 26:52
  Speaker 1: Let them know.
• 26:52
  Speaker 5: Nice of them too, I know, and it makes their
• 26:55
  Speaker 5: job easier, right If they can sell something quickly at
• 26:57
  Speaker 5: a good price, they definitely want to do that. So
• 27:00
  Speaker 5: even if it's not an off market property, they'll also
• 27:02
  Speaker 5: often keep you in the loop with new things that
• 27:05
  Speaker 5: are coming on the market so that you can get
• 27:07
  Speaker 5: the first look, maybe beat the rush. I try and
• 27:10
  Speaker 5: be really specific when I speak to them, with you know,
• 27:13
  Speaker 5: you don't want to give away necessarily your whole budget,
• 27:15
  Speaker 5: but I'll often say, you know, this is the range
• 27:18
  Speaker 5: that I'm looking within. I'll usually reserve a little bit
• 27:21
  Speaker 5: off the top of that, knowing that they always try
• 27:23
  Speaker 5: and push you up, you know, so I'll be a
• 27:25
  Speaker 5: little bit conservative, but give them a rough range and
• 27:27
  Speaker 5: a rough idea of my non negotiables number of bedrooms,
• 27:30
  Speaker 5: number of bathroom block size. Even if a house isn't
• 27:33
  Speaker 5: the one, I'll often still go to the inspection because
• 27:36
  Speaker 5: it's a chance to chat to the agent, see what
• 27:38
  Speaker 5: they've been up to, build a bit of rapport. They
• 27:40
  Speaker 5: are human beings, even though sometimes they seem like they're not,
• 27:43
  Speaker 5: so it's nice to have a good relationship with them,
• 27:47
  Speaker 5: keep in touch with them. If it's been a while
• 27:49
  Speaker 5: since you've seen someone. I'll often slick out an email saying, hey,
• 27:52
  Speaker 5: like we met at XYZ property. Just wanted to let
• 27:55
  Speaker 5: you know I'm still in the market for my first home.
• 27:57
  Speaker 5: This was my list to refresh them. Just want to
• 28:00
  Speaker 5: put myself on your radar in case anything comes up.
• 28:02
  Speaker 5: I'd love to hear about it. It's kind of like
• 28:05
  Speaker 5: managing like a relationship almost. It's anything you can do
• 28:08
  Speaker 5: to keep yourself top of mind for them to make
• 28:11
  Speaker 5: them like you. You've got to play the game a
• 28:13
  Speaker 5: little bit.
• 28:13
  Speaker 3: You're becoming a business development manager pretty much. Yeah, a
• 28:16
  Speaker 3: property So you're like hustling up these relationships and just
• 28:21
  Speaker 3: touching base. And I feel like some people feel a
• 28:23
  Speaker 3: little bit intimidated. They're like, oh, well, I only met
• 28:26
  Speaker 3: that real estate and I've heard this before. I've only
• 28:28
  Speaker 3: met the real estate agent once at an open They
• 28:30
  Speaker 3: won't remember me. It'd be so weird to email them no,
• 28:33
  Speaker 3: so so remind them, like send them a cute email,
• 28:38
  Speaker 3: because honestly, on the flip side, let's pretend I'm a
• 28:41
  Speaker 3: real estate agent. You're sending me a clean email of saying, hey,
• 28:45
  Speaker 3: here's my budget. I've actually got all the cash and
• 28:48
  Speaker 3: the finance ready to go. If a three bedroom house
• 28:52
  Speaker 3: comes up, could I please have it? Or if a
• 28:53
  Speaker 3: two bedroom apartment or whatever you're looking for comes up,
• 28:57
  Speaker 3: I'd love it. Yeah. They actually want to turnover properties
• 29:01
  Speaker 3: quickly like real estate agents. They don't want it to
• 29:03
  Speaker 3: be on real estate dot Com for a month, like
• 29:05
  Speaker 3: because they have to do open for inspections. They have
• 29:07
  Speaker 3: to go back and forth with that house. They're talking
• 29:10
  Speaker 3: to the owner about, Hey, so we're going to do
• 29:12
  Speaker 3: another open inspection on Thursday. Can you make sure you've
• 29:14
  Speaker 3: got your pets out? Can you make sure that it's
• 29:16
  Speaker 3: clean and ready to go? They don't want that. If
• 29:18
  Speaker 3: they've got a Jessica, they're like, okay, so we won't
• 29:21
  Speaker 3: even have to do open for inspections if it meets
• 29:23
  Speaker 3: her criteria. Yeah, sorry, they get their commission when bam,
• 29:26
  Speaker 3: thank you, ma'am. They can move on to the next
• 29:27
  Speaker 3: property and make even more money. So like you're making
• 29:30
  Speaker 3: their job easier. Stop thinking, not you, But lots of
• 29:34
  Speaker 3: people seem to think that they're a burden anyway. I
• 29:38
  Speaker 3: feel like I'm headed towards rant territory. So we're going
• 29:41
  Speaker 3: to take a very quick break, Jess, But stick around
• 29:44
  Speaker 3: because when we come back, I'm going to share the
• 29:47
  Speaker 3: rule that'll hopefully save you from waiting forever for a
• 29:50
  Speaker 3: perfect house that honestly doesn't exist. So don't go anywhere.
• 29:57
  Speaker 3: All right, we are back and let's get into it
• 30:00
  Speaker 3: our next tip. So tip number four that I've written
• 30:03
  Speaker 3: down is the tip that I promised would hopefully get
• 30:08
  Speaker 3: you into your first home when we're looking for a
• 30:11
  Speaker 3: perfect home. And this is something that I'm coming for
• 30:14
  Speaker 3: the perfectionists here. I'm actually coming for miss jessic Rici
• 30:19
  Speaker 3: two years ago when we really started aggressively looking for
• 30:21
  Speaker 3: property for you, right, And it's going to hurt some
• 30:25
  Speaker 3: Miss jessic Rici perfectionists, right. Unfortunately, no house is ever
• 30:31
  Speaker 3: going to tick one hundred percent of your boxes. What
• 30:35
  Speaker 3: we're going to do is aim for eighty percent. So
• 30:39
  Speaker 3: I tell our mortgage breaking clients this all the time
• 30:42
  Speaker 3: we talk. It's really hard, and at the very start
• 30:45
  Speaker 3: it can be a hard pill to swallow, but I
• 30:46
  Speaker 3: promised it is a very good rule. If your property
• 30:50
  Speaker 3: or the property hits eighty percent of your needs and
• 30:54
  Speaker 3: the other twenty percent are like livable or fixable. I'd
• 30:57
  Speaker 3: say it's a strong contender, and we do want to
• 30:59
  Speaker 3: go to that oction. So every extra month waiting for
• 31:03
  Speaker 3: your quote perfect home, it could mean that the market
• 31:06
  Speaker 3: climbs another four thousand dollars.
• 31:08
  Speaker 4: I've seen it. It's true.
• 31:10
  Speaker 3: Yeah, And like I remember when you were first looking
• 31:13
  Speaker 3: and it was definitely perfectionist territory, Like you were like, nope,
• 31:16
  Speaker 3: I'm not even going to consider that because it doesn't
• 31:18
  Speaker 3: have exrayoz. I can almost guarantee if I said, do
• 31:21
  Speaker 3: you want to go back there to those prices, and
• 31:23
  Speaker 3: you jump like you jump back there. But it can
• 31:26
  Speaker 3: be and like it sounds bad if I'm like, oh,
• 31:29
  Speaker 3: you do need to compromise, but we actually do when
• 31:32
  Speaker 3: it comes to property, like unfortunately someone else isn't thinking
• 31:36
  Speaker 3: about your terms and your conditions when they're building their property,
• 31:41
  Speaker 3: and you're never going to find the property that meets
• 31:44
  Speaker 3: one hundred percent of your criteria. And if you do,
• 31:47
  Speaker 3: I guarantee it's meeting other people's criteria and that property
• 31:51
  Speaker 3: is kind of like a little bit of a unicorn
• 31:52
  Speaker 3: and probably will go way over what you'd even anticipated
• 31:56
  Speaker 3: way over that ten percent. So I would get on
• 32:00
  Speaker 3: real estate dot com and look at the sold area
• 32:03
  Speaker 3: so that we can get very clear on what we
• 32:05
  Speaker 3: are actually considering non negotiables. And then also the oh
• 32:09
  Speaker 3: would be nice to have? Yeah, because like so many
• 32:12
  Speaker 3: of us, and I know you're in this situation, you
• 32:14
  Speaker 3: want a garden, like you want outside area be so
• 32:16
  Speaker 3: nice to have, like a big lawn. But also, Jess,
• 32:19
  Speaker 3: if you saw a property that was like just a
• 32:21
  Speaker 3: really nice outdoor entertainment area, I think you'd be like, oh, yeah,
• 32:24
  Speaker 3: that's that's fine. I don't need the big grassy area. Yeah,
• 32:27
  Speaker 3: but other people might be like me, sorry, I need grass,
• 32:31
  Speaker 3: and I need grass because I have a dog. So
• 32:34
  Speaker 3: for me, that's a non negotiable, and you need to
• 32:36
  Speaker 3: work out the difference between the two of those. Jess,
• 32:40
  Speaker 3: talk me through it. What are your non negotiables versus
• 32:44
  Speaker 3: the nice stabs?
• 32:45
  Speaker 5: Yeah, the non negocials for me are the things that
• 32:47
  Speaker 5: are hard or impossible to change. So block size is
• 32:50
  Speaker 5: a big one. Ate three fifty is my minimum square block,
• 32:53
  Speaker 5: which is actually quite small.
• 32:55
  Speaker 3: But you'd be surprised I have a three fifty square block.
• 32:57
  Speaker 5: Yeah, I've lived on smaller, and it felt really really small,
• 33:03
  Speaker 5: and knowing that I'm hoping to live in this house
• 33:05
  Speaker 5: for the next five to ten years, and I think
• 33:08
  Speaker 5: that a three to fifty will grow with what I
• 33:10
  Speaker 5: hope to grow bedrooms. I'm looking for a minimum of
• 33:13
  Speaker 5: three because I run a business from a home.
• 33:16
  Speaker 3: You need the space.
• 33:17
  Speaker 5: Yeah, my partner also wants to have his own space,
• 33:19
  Speaker 5: which I think is very valid. Obviously we then share
• 33:21
  Speaker 5: a bedroom, So three is a minimum. Four would be
• 33:23
  Speaker 5: lovely to have, but that's something I'm flexible.
• 33:25
  Speaker 3: And that's actually quite reasonable in your area. Like that's
• 33:28
  Speaker 3: like if we looked at my area. Okay, so do
• 33:32
  Speaker 3: you have two million dollars Jessica Hart, Yeah, I'm.
• 33:34
  Speaker 5: Looking in suburbs like much outer suburbs. Yes, it is
• 33:38
  Speaker 5: like a it is pretty common. Most houses are three
• 33:40
  Speaker 5: to four bedroom, two bathroom, and a two car garage
• 33:43
  Speaker 5: is also something that's important to me, again from a
• 33:46
  Speaker 5: resale perspective as well as just from a lifestyle perspective.
• 33:50
  Speaker 3: And then the last thing you need somewhere to put
• 33:51
  Speaker 3: all your containers of Christmas decorations.
• 33:53
  Speaker 4: Our two car garage is almost fully I was going to.
• 33:56
  Speaker 3: Say it's not because Jess is like, yeah, so I
• 33:58
  Speaker 3: really like parking my car indoors at night time. I
• 34:01
  Speaker 3: know that that's not the truth, miss jss gutty. She's
• 34:03
  Speaker 3: storage thing, Yeah, like I need somewhere to put all
• 34:06
  Speaker 3: of those tubs genuinely.
• 34:07
  Speaker 5: And then the last to negotiate for me is ceiling high.
• 34:09
  Speaker 5: Because obviously to raise the height of a ceiling be
• 34:11
  Speaker 5: super expensive.
• 34:12
  Speaker 3: We're also so many places it's not even an option.
• 34:15
  Speaker 5: Yeah, And because I am looking at a smaller block
• 34:17
  Speaker 5: and there for a smaller house, I like that higher
• 34:19
  Speaker 5: ceilings make it feel bigger and also let in more light,
• 34:22
  Speaker 5: which is something that's important for me with like what
• 34:24
  Speaker 5: I do for work.
• 34:25
  Speaker 3: Yeah, yeah, and I love that. What's something that would
• 34:27
  Speaker 3: be like nice to have? Then, like, what's something do
• 34:30
  Speaker 3: you're like, ooh so nice? But also if it doesn't
• 34:32
  Speaker 3: have it, I just don't care.
• 34:33
  Speaker 5: I think, like pretty much just the style of the interior, Like,
• 34:37
  Speaker 5: I'm very open to buying something that's she's a little
• 34:40
  Speaker 5: bit ugger now, but down the track I can renovate it.
• 34:42
  Speaker 3: Yeah, you know, I'm gonna call my friends at Kaboodle worry,
• 34:45
  Speaker 3: don't you worry?
• 34:46
  Speaker 5: Yeah, I'll be like guys like there's a kitchen, there's
• 34:48
  Speaker 5: a bathroom, whatever, a code of pain, a change of flaws.
• 34:51
  Speaker 5: I can live in something that's ugly for a little
• 34:53
  Speaker 5: while while I save the money to update it down
• 34:55
  Speaker 5: the track, and you can do so much, I think,
• 34:57
  Speaker 5: cosmetically at a really reasonable price point, so I'm not
• 35:01
  Speaker 5: too fussy honestly with what it looks like on the inside.
• 35:04
  Speaker 3: Let's talk a hot minute about I've written down tip
• 35:07
  Speaker 3: number five and it's not skipping inspections. And you spoke
• 35:09
  Speaker 3: about this before, Like you know, if the property is
• 35:11
  Speaker 3: not meeting the criteria, still go meet with the real
• 35:14
  Speaker 3: estate agent and like kind of show face. I would
• 35:17
  Speaker 3: say this is one of the best things that you
• 35:19
  Speaker 3: can do early on as well, not just for showing
• 35:21
  Speaker 3: face and building that relationship, but even before you're ready
• 35:25
  Speaker 3: to buy. It's go to some open homes because it
• 35:28
  Speaker 3: can be so intimidating. Like if your first hope and
• 35:31
  Speaker 3: home is what you have built up in your head
• 35:34
  Speaker 3: and we've all done this to be your dream home,
• 35:36
  Speaker 3: going into that, you're anxious, you feel sick, you're so
• 35:40
  Speaker 3: worried about what the real estate agent is thinking. You're
• 35:42
  Speaker 3: not thinking clearly about your checklist of what we're actually
• 35:46
  Speaker 3: looking for in an open home, because an open home,
• 35:49
  Speaker 3: I'm sorry, it's not to walk through and go oh
• 35:51
  Speaker 3: that's styled so well, like, oh look that double bed
• 35:54
  Speaker 3: is I love that doing to cover Like that's not
• 35:57
  Speaker 3: why we're walking through the house. Yeah, and we can
• 35:59
  Speaker 3: get really distracted. But going to open homes before you
• 36:04
  Speaker 3: have found, quote, the one or one that you're even
• 36:07
  Speaker 3: interested in bidding on or putting in an offer for,
• 36:10
  Speaker 3: it's going to help you build some confidence. It's gonna
• 36:13
  Speaker 3: help you learn what things cost, and you go, oh, well,
• 36:16
  Speaker 3: what's the difference between six fifty and seven hundred? Like
• 36:20
  Speaker 3: go see it, touch it, see it, like talk to
• 36:23
  Speaker 3: people about it, because sometimes online you go it's the same,
• 36:26
  Speaker 3: why would it be? And then you get there and
• 36:28
  Speaker 3: you're like, oh, this street is really nice, like it's
• 36:31
  Speaker 3: like a very close coulder sack instead of like a
• 36:34
  Speaker 3: main road or something. You go, Okay, I can see
• 36:36
  Speaker 3: why this might be a little bit more expensive, even
• 36:39
  Speaker 3: if the floor plans are identical. So what we're able
• 36:42
  Speaker 3: to do is what you like or you don't like
• 36:44
  Speaker 3: in real life versus in photos as well. How many times,
• 36:48
  Speaker 3: Jess have you been to an open for inspection and
• 36:50
  Speaker 3: you've seen the photos online and you're like, oh, that
• 36:53
  Speaker 3: room's massive, that would be perfect, and then you walk
• 36:55
  Speaker 3: in and you're like, this cannot be the same property.
• 36:58
  Speaker 3: Real estate photographers work, they you know, day are working
• 37:02
  Speaker 3: for their money.
• 37:03
  Speaker 4: They really are.
• 37:04
  Speaker 3: They are like they are always so you know how
• 37:06
  Speaker 3: when we try to take a selfie together, Jess, we
• 37:08
  Speaker 3: always do point five so that we get everything in.
• 37:10
  Speaker 3: They are the kings and queens of point five photography
• 37:14
  Speaker 3: to make sure that the room looks as big as possible,
• 37:17
  Speaker 3: because like, sorry, if they put a photo of the
• 37:20
  Speaker 3: room looking teeny tiny and it only fits a single
• 37:22
  Speaker 3: are you going to go to that inspection?
• 37:24
  Speaker 5: A little bit of color grading, maybe a little bit
• 37:26
  Speaker 5: of AI furniture.
• 37:27
  Speaker 3: They're doing the most I saw the other day on Facebook.
• 37:31
  Speaker 3: I actually will find it and send it to you
• 37:33
  Speaker 3: where a real estate agent had AI put in a
• 37:36
  Speaker 3: tree in the front garden and its honestly beautiful tree.
• 37:40
  Speaker 3: It was like really big and it was kind of
• 37:42
  Speaker 3: this like Californian bungalow style property in my area and
• 37:46
  Speaker 3: they put this bigger tree and it turns out that's
• 37:49
  Speaker 3: such an attractive feature in our area is to have
• 37:52
  Speaker 3: really large established trees. Yeah, and it actually added like
• 37:56
  Speaker 3: fifty thousand dollars to like sale price if the property.
• 37:59
  Speaker 3: But when people turning up, they're.
• 38:00
  Speaker 4: Like, where's the tree?
• 38:01
  Speaker 3: Was the tree? Like there's actually no street coverage, like
• 38:05
  Speaker 3: it's really barren. Yeah, and like the photo made it anyway,
• 38:09
  Speaker 3: it was I thought quite funny because I was like, sir,
• 38:12
  Speaker 3: you really tried your hardest and it looks beautiful, but
• 38:14
  Speaker 3: you've shot yourself in the foot, because that's like the
• 38:16
  Speaker 3: first thing people are asking when they're turning up, because like, sorry,
• 38:19
  Speaker 3: there was these big established oak tree in the front yard.
• 38:22
  Speaker 3: But what you're going to do if you start going
• 38:24
  Speaker 3: to open for inspections early, Jess, is you're going to
• 38:26
  Speaker 3: start to notice patterns which homes you go, look, this
• 38:30
  Speaker 3: is clearly being underquoted, which agents are maybe doing that,
• 38:36
  Speaker 3: Like which agents are talking a lot of talk and
• 38:39
  Speaker 3: maybe are over hyping properties, And then it's going to
• 38:42
  Speaker 3: give you a really good idea of what is normal
• 38:44
  Speaker 3: in a certain price range. Yes, you know what I
• 38:48
  Speaker 3: mean to throw you under rebut but how many house
• 38:50
  Speaker 3: inspections do you think you've been to god over the years.
• 38:53
  Speaker 4: I reckon, I'd be pushing like seventy to eighty. Oh,
• 38:57
  Speaker 4: I'm getting close to one hundred.
• 38:59
  Speaker 3: Talk to me when you go first things first?
• 39:02
  Speaker 5: Is it just you? I will usually go to the
• 39:04
  Speaker 5: first one by myself, and then if i'm going, if
• 39:07
  Speaker 5: I like it enough to go back a second time,
• 39:08
  Speaker 5: I'll take my partner.
• 39:09
  Speaker 3: And how many other people are turning up?
• 39:11
  Speaker 5: They're so the markt right now. It's so busy, Like
• 39:14
  Speaker 5: there's always other parties there.
• 39:17
  Speaker 4: I would say.
• 39:17
  Speaker 5: Usually five or six groups a lot of the time,
• 39:20
  Speaker 5: and different groups every time too, And I.
• 39:22
  Speaker 3: Find that so intimidating because like if you see another couple,
• 39:24
  Speaker 3: you're like, have you got the same budget as us?
• 39:26
  Speaker 3: Or like, what are you looking at? Why are you
• 39:28
  Speaker 3: saying that that kitchen's nice? You're my competition? Yeah, isn't it?
• 39:34
  Speaker 3: And Steve and I went to an open for inspection
• 39:36
  Speaker 3: the other day because, like, as I said, we're selling
• 39:39
  Speaker 3: our property, but we're hopeful to purchase in the same
• 39:41
  Speaker 3: area at some point in the future. You know what
• 39:44
  Speaker 3: intimidated me is like we turn up and like we
• 39:46
  Speaker 3: had a harvey with us, and so we're running like
• 39:48
  Speaker 3: five minutes late, which was fine because it wasn't half
• 39:50
  Speaker 3: like half an hour slot get there, and obviously everyone
• 39:53
  Speaker 3: had turned up at the right like on time. It
• 39:56
  Speaker 3: was the amount of shoes out the front of the property,
• 39:59
  Speaker 3: because like when you go through a house, by the way,
• 40:01
  Speaker 3: take off your shoes. You don't walk through an open
• 40:04
  Speaker 3: home with your shoes on. I was just I looked
• 40:07
  Speaker 3: at Steve and was like, are we sure we want
• 40:09
  Speaker 3: to go in there? Because that looks like there's like
• 40:10
  Speaker 3: thirty people in there. Yeah. Like it was just like
• 40:12
  Speaker 3: this shoe graveyard at the front door. So what are
• 40:16
  Speaker 3: we going to look out for at open homes? Like?
• 40:20
  Speaker 3: I feel like there are lots of things that we
• 40:21
  Speaker 3: should look out for that are making us like the
• 40:24
  Speaker 3: housemall jests.
• 40:25
  Speaker 5: Yep, definitely. There's a lot of little tricks the agents
• 40:28
  Speaker 5: use when they're trying to sell, So keep an eye
• 40:29
  Speaker 5: out for things like candles and music. They'll try and
• 40:31
  Speaker 5: set the mood. The ambiance work. It works for me, Yeah,
• 40:35
  Speaker 5: the scent of cookies making it's like a it's a
• 40:37
  Speaker 5: scientific thing.
• 40:38
  Speaker 4: It triggers you to feel like more at home, more comfortable.
• 40:41
  Speaker 3: To like I'm going to try it. I'm going to
• 40:43
  Speaker 3: go get one of those roles of pre made cookies.
• 40:46
  Speaker 3: I'm going to make it before a house inspection and
• 40:48
  Speaker 3: see if people are more interested.
• 40:49
  Speaker 4: It honestly will make a difference. It's how it's not
• 40:51
  Speaker 4: exactly right.
• 40:52
  Speaker 3: The lights as well.
• 40:53
  Speaker 4: Lighting is such a big thing. You'll notice when you go.
• 40:55
  Speaker 5: They turn on every light in every room, every lamp,
• 40:58
  Speaker 5: every lamp, every They can so flick a few off.
• 41:01
  Speaker 5: What does it look like when the lights are a
• 41:03
  Speaker 5: little dimmer. Checking the compass on your phone is also
• 41:06
  Speaker 5: a good one, and maybe bringing a tape measure compass.
• 41:09
  Speaker 3: Well, you know, if girl, you are turning up prepared,
• 41:12
  Speaker 3: what are you a scout?
• 41:13
  Speaker 1: You know?
• 41:14
  Speaker 4: If I get lost, I'm leading you home. But knowing
• 41:16
  Speaker 4: what orientation the block is on will let you know
• 41:18
  Speaker 4: how much light you're going to get.
• 41:20
  Speaker 3: Okay, Yeah, so that I don't have to say to
• 41:22
  Speaker 3: the real estate agent, is this north facing?
• 41:24
  Speaker 6: Yeah?
• 41:25
  Speaker 5: You might find that things are listed as north facing,
• 41:27
  Speaker 5: but actually their northelk is correct, which is not the
• 41:30
  Speaker 5: worst thing, but it's also handy to know what those
• 41:32
  Speaker 5: patterns are going to look like. Yeah, if you can
• 41:35
  Speaker 5: come back on a rainy day or in a different
• 41:37
  Speaker 5: time of day, I'll usually try to do like a
• 41:39
  Speaker 5: daytime and an evening in so you can see what
• 41:42
  Speaker 5: the light's like, what the ambience in the street is like.
• 41:45
  Speaker 5: You know, are there people hooning up and down the
• 41:47
  Speaker 5: road at night time?
• 41:48
  Speaker 3: The neighbors have I went to a hope and inspection
• 41:51
  Speaker 3: a while ago, and this is when we're looking for
• 41:54
  Speaker 3: our first home, and I said to Steve, I'm so sorry.
• 41:57
  Speaker 3: We haven't even gone into the house yet, but we're
• 41:58
  Speaker 3: not moving here. That neighbor has three upside down Cole's
• 42:03
  Speaker 3: trolleys in their front garden, and to me, that's just
• 42:07
  Speaker 3: giving chaotic neighbor. I don't know who we want to
• 42:10
  Speaker 3: live in this area, No, totally.
• 42:12
  Speaker 5: And going back at different times of day, you'll see
• 42:14
  Speaker 5: things that maybe you didn't see the first time. The
• 42:17
  Speaker 5: golf ball trick is a really popular one popular. Take
• 42:20
  Speaker 5: a little golf or any kind of ball. You'd have
• 42:21
  Speaker 5: a golf balks here. I have so many golf falls,
• 42:24
  Speaker 5: absolutely popping it down on a floor in different rooms.
• 42:27
  Speaker 4: If it rolls, it's on a slap.
• 42:29
  Speaker 3: So you're doing your own building and pest inspections, little pretests, Okay.
• 42:34
  Speaker 1: I like it.
• 42:35
  Speaker 5: Chatting to the neighbors as well. I feel like when
• 42:37
  Speaker 5: there's opens neighbors often around.
• 42:40
  Speaker 3: I didn't want to talk to the neighbor the trolleys.
• 42:43
  Speaker 4: No, actually that's very fair, but that.
• 42:45
  Speaker 3: Makes sense because like I'm a sticky beak.
• 42:47
  Speaker 5: Exactly, they will often want to see what's going on.
• 42:50
  Speaker 5: Neighbors on an auction day are off and around.
• 42:52
  Speaker 4: Just saying, oh do you like the area? Have you
• 42:54
  Speaker 4: lived there long?
• 42:55
  Speaker 5: People want nice people to move in next door to them,
• 42:58
  Speaker 5: so they're often pretty happy to tell you what's going
• 43:00
  Speaker 5: on and what they think if they like your vibe.
• 43:03
  Speaker 5: And then lastly, I would say use local Facebook groups
• 43:06
  Speaker 5: to check you know what.
• 43:07
  Speaker 3: The area's like.
• 43:08
  Speaker 5: Are there people complaining a lot putting up camera footage?
• 43:12
  Speaker 3: Oh that's Youmart, You'll move in the streets doing xyzed
• 43:16
  Speaker 3: Like the area that you live in has like lots
• 43:18
  Speaker 3: of different housing estates, and I believe that then you've
• 43:21
  Speaker 3: mentioned this on the show before you're in like one
• 43:23
  Speaker 3: of your house or were back when you're in your
• 43:25
  Speaker 3: old house in one of the housing estate Facebook groups. Yes,
• 43:28
  Speaker 3: join it before you buy there have a little sus
• 43:30
  Speaker 3: everyone's complaining about the kids on the bikes knocking over
• 43:33
  Speaker 3: the letterboxes with cricket bats.
• 43:36
  Speaker 5: Genuinely, I feel like, take you with a grain of salts.
• 43:38
  Speaker 5: People love to complain in those groups, so it gives
• 43:39
  Speaker 5: you a really good sign of what's happening. Are there,
• 43:41
  Speaker 5: community events, are there, you know, people saying hey, like
• 43:45
  Speaker 5: free to a good home. It'll give you an idea
• 43:47
  Speaker 5: of what the vibe is in the area.
• 43:49
  Speaker 3: That's quite smart, especially if it's not an area that
• 43:51
  Speaker 3: you already live. Like for me, that's not going to help,
• 43:54
  Speaker 3: just because I have lived in the area for the
• 43:56
  Speaker 3: last nearly ten years, which is crazy and that's why
• 43:59
  Speaker 3: I want to stay. But if you're moving suburbs, it
• 44:02
  Speaker 3: can be so overwhelming. If you're like, oh, we're thinking
• 44:04
  Speaker 3: about moving suburbs and like we drive through this area
• 44:07
  Speaker 3: and it looks nice enough, but like that's not going
• 44:09
  Speaker 3: to give you a proper vibe check. So that's quite
• 44:12
  Speaker 3: especially if you're moving states or something as well. I
• 44:14
  Speaker 3: would say. The other thing is you can contact the
• 44:18
  Speaker 3: council for free, so like you can contact Sorry just
• 44:21
  Speaker 3: to add that in, but flood overlays and things like that,
• 44:25
  Speaker 3: if there are big buildings going up in the area,
• 44:29
  Speaker 3: you know what the types of people that work at council.
• 44:31
  Speaker 3: They're nice eggs, Like call them up and be like, Hi,
• 44:34
  Speaker 3: my name's Jess, Like, I hope I'm not wasting your time.
• 44:37
  Speaker 3: But I'm a first home buyer in the area and
• 44:39
  Speaker 3: I just wanted to inquire I'm buying on this particular street.
• 44:42
  Speaker 3: Is there anything I need to know? Girl, if you
• 44:45
  Speaker 3: get old Mary, who's worked for the council for the
• 44:48
  Speaker 3: last thirty years, she tell you, she's going to tell
• 44:51
  Speaker 3: you she's got all the goss, she'd be like, oh, yep,
• 44:53
  Speaker 3: so been nights on Thursday and she's going to tell
• 44:56
  Speaker 3: you call her. She wants to hear from you. I mean, please,
• 44:59
  Speaker 3: don't waste her time, Like promise that's a good idea.
• 45:02
  Speaker 5: Speaking of Facebook, there was actually a post really recently
• 45:05
  Speaker 5: in our Facebook group where a community and mother was
• 45:08
  Speaker 5: asking for advice on what to look out for at
• 45:10
  Speaker 5: inspections and there were so many fantastic comments. I feel like,
• 45:15
  Speaker 5: if you're not already in there, a little shameless plug,
• 45:17
  Speaker 5: join the Facebook group because know what's going on and
• 45:19
  Speaker 5: they are sharing it in there.
• 45:20
  Speaker 3: And we were born to yap as well, and like,
• 45:23
  Speaker 3: I mean, we don't endorse real gossip, but like when
• 45:27
  Speaker 3: it comes to gossip about buying first home or what
• 45:30
  Speaker 3: overs we need to hear. We're here for it and
• 45:32
  Speaker 3: we're all just sharing in the Facebook group. Also, I
• 45:35
  Speaker 3: would say, Jess, you said that you turn up with
• 45:37
  Speaker 3: a compass and a golf so I don't think that
• 45:41
  Speaker 3: this is a tip that I need to give you.
• 45:43
  Speaker 3: But for a lot of other people, they'll be like, oh,
• 45:45
  Speaker 3: I don't know if I want to do that. That
• 45:47
  Speaker 3: feels a little bit embarrassing. Sorry, this is the biggest
• 45:50
  Speaker 3: financial decision you're ever going to make in your entire life,
• 45:54
  Speaker 3: and you're embarrassed of somebody seeing you put a golf
• 45:56
  Speaker 3: ball on the ground. Absolutely sorry, look crazy? Like look
• 46:00
  Speaker 3: crazy because I can't think of another investment or purchase
• 46:04
  Speaker 3: that you're going to make that is this large. It's
• 46:07
  Speaker 3: a massive commitment and it can be really overwhelming. And
• 46:11
  Speaker 3: if you're really serious about a particular property and you say, oh,
• 46:14
  Speaker 3: it's a Thursday twelve and you're like, damn, I have work,
• 46:17
  Speaker 3: and then like Saturday at like one, you've got netball
• 46:20
  Speaker 3: or something, ask for a private inspection, call the real
• 46:23
  Speaker 3: estate agent and say, hey, I'm actually really really keen
• 46:26
  Speaker 3: on this property. Could I please organize a private inspection
• 46:30
  Speaker 3: someone like me. I'm sorry, I saw all the shoes
• 46:33
  Speaker 3: at the door. I was thinking about the shoes the
• 46:35
  Speaker 3: whole time I was looking at this particular property, Like
• 46:37
  Speaker 3: I was anxious. I was a little bit overwhelmed, Like
• 46:40
  Speaker 3: there were so many people. But they're busy and they're noisy,
• 46:43
  Speaker 3: and they're rushed, and a private inspection is just going
• 46:45
  Speaker 3: to be you, maybe your partner if you're going to
• 46:48
  Speaker 3: let them come, and the real estate agent. And I
• 46:52
  Speaker 3: don't think you should ever purchase a property off just
• 46:55
  Speaker 3: like one inspection.
• 46:57
  Speaker 4: I completely agree.
• 46:58
  Speaker 3: Sorry, Like even if it's going up for that, we're
• 47:01
  Speaker 3: asking for private inspections. We are seeing what is possible.
• 47:05
  Speaker 3: And then also, Jess, you and I have written a checklist,
• 47:09
  Speaker 3: So not only are you going to take your golf
• 47:11
  Speaker 3: ball and your compass, you're actually going to take this checklist.
• 47:14
  Speaker 3: You can print it or you can have it on
• 47:16
  Speaker 3: your phone. We're going to link it in our show notes.
• 47:19
  Speaker 3: It's free. You can also just jump on the She's
• 47:21
  Speaker 3: on the Money website and download it. But it's like
• 47:23
  Speaker 3: everything that we would check in a first home, So
• 47:28
  Speaker 3: it's you know, if you're buying a house, what type
• 47:31
  Speaker 3: of stumps. Is the house on Jess, Is it on
• 47:33
  Speaker 3: concrete or is it on wood. If it's on wood,
• 47:36
  Speaker 3: there might be the probability of that house needing to
• 47:39
  Speaker 3: be re stumped at some point. Like we are dotting
• 47:41
  Speaker 3: all our i's and crossing all our t's, and I
• 47:43
  Speaker 3: promise most of these things aren't just going to be
• 47:45
  Speaker 3: in the listing. There are things that you have to
• 47:47
  Speaker 3: look out for in person at your first home inspection.
• 47:51
  Speaker 3: The other thing that I want to talk about here, Jess,
• 47:54
  Speaker 3: and it's like a pivot because it's not free. So
• 47:56
  Speaker 3: I'll give you the free checklist and you can do
• 47:58
  Speaker 3: absolutely everything. But if you are very serious about purchasing
• 48:01
  Speaker 3: your first home, and I know that you are on
• 48:05
  Speaker 3: the side of caution here because you're like, oh my god,
• 48:07
  Speaker 3: this house is probably going to go over, I don't
• 48:09
  Speaker 3: want to spend a couple of hundred dollars and flash
• 48:11
  Speaker 3: it down the toilet. But before you buy, Jess, what
• 48:15
  Speaker 3: am I going.
• 48:15
  Speaker 4: To say, get a building a section.
• 48:18
  Speaker 2: Yes.
• 48:19
  Speaker 3: And the reason you need to do that is because
• 48:22
  Speaker 3: you can take your golf will, you can take your compass,
• 48:25
  Speaker 3: you could take the checklist that I've made for you,
• 48:27
  Speaker 3: and I know will help, but you don't know how
• 48:29
  Speaker 3: to check for damp. You don't know how to check
• 48:32
  Speaker 3: for water damage that's just been painted over. You don't
• 48:36
  Speaker 3: know how to get up into the roof and check
• 48:38
  Speaker 3: whether there's termites in the eves.
• 48:40
  Speaker 4: No would I want to, But you know what we're
• 48:42
  Speaker 4: going to do.
• 48:43
  Speaker 3: Pay someone to do that, because that's going to save
• 48:46
  Speaker 3: you a lot. Like the difference between getting a building
• 48:49
  Speaker 3: and pest inspection and then finding out that there is
• 48:51
  Speaker 3: water damage in your floor could mean thirty thousand dollars
• 48:54
  Speaker 3: on moving in because you have to replace all the floors. Yeah,
• 48:57
  Speaker 3: you want to know, I want to know, so boring,
• 49:00
  Speaker 3: but please do it. Building in pest inspections, they're honestly
• 49:04
  Speaker 3: going to vary depending on the type and size of
• 49:06
  Speaker 3: your property. Like if you're buying a mega mansion on
• 49:09
  Speaker 3: a couple of acres, I promise it's going to be
• 49:11
  Speaker 3: a couple of grand But if you're buying a regular
• 49:14
  Speaker 3: sized property like house and land kind of deal, it's
• 49:17
  Speaker 3: probably going to cost you anywhere between I'd say four
• 49:20
  Speaker 3: hundred to eight hundred dollars, And I'm so sorry that
• 49:24
  Speaker 3: it is, from my perspective, worth every cent, I wouldn't
• 49:27
  Speaker 3: be doing it for every house. You just go and
• 49:29
  Speaker 3: inspect and you're like, well, I want the building in
• 49:30
  Speaker 3: pest infection unless you're really serious about bidding or trying
• 49:33
  Speaker 3: to purchase that house. And just twenty twenty four Australian
• 49:38
  Speaker 3: Housing and Urban Institute research actually found that about seventy
• 49:42
  Speaker 3: percent of households have reported building quality problems.
• 49:46
  Speaker 5: When I wage in real estate, we were selling a
• 49:48
  Speaker 5: brand new house that had just been built by a developer,
• 49:51
  Speaker 5: and the buyer you would think, oh, it's brand new.
• 49:54
  Speaker 5: It's the problem they did a building a pest and
• 49:56
  Speaker 5: there was so much wrong with that build. So it
• 49:58
  Speaker 5: doesn't matter how new it is.
• 50:00
  Speaker 3: Checked, get it checked because not only people are sneaky, right,
• 50:04
  Speaker 3: So it's not just like oh, we actually had no
• 50:06
  Speaker 3: idea we had rising damp in the walls. It can
• 50:09
  Speaker 3: actually be things like your house doesn't meet code. Yeah,
• 50:13
  Speaker 3: and then all of a sudden you have to spend
• 50:16
  Speaker 3: fifteen thousand dollars on having the whole roof ree gutted
• 50:19
  Speaker 3: because it didn't meet code and your gutters weren't up
• 50:23
  Speaker 3: to standard, and the council for some reason was doing
• 50:25
  Speaker 3: random checks. Yeah, I have seen that happen and it
• 50:28
  Speaker 3: is heartbreaking. And I don't know a building and pest inspection.
• 50:31
  Speaker 3: We're not looking for a flawless property. It's actually about
• 50:34
  Speaker 3: knowing what needs fixing, what's going to be urgent, and
• 50:37
  Speaker 3: then like what you can leave with Bill, who's my
• 50:40
  Speaker 3: building and pest inspector. It's who we use as much
• 50:43
  Speaker 3: as possible through Zella. If you're buying in Victoria, we
• 50:46
  Speaker 3: usually try and use him. He did my building in
• 50:49
  Speaker 3: pest inspection for my first home and he found that
• 50:51
  Speaker 3: one of the showers was leaking into the wall. And
• 50:55
  Speaker 3: that didn't mean it was like a no go zone
• 50:57
  Speaker 3: for me. I was like, oh, okay, well what does
• 51:00
  Speaker 3: that mean? And then you know, having a like a
• 51:03
  Speaker 3: follow up phone call with Bill, he was like, look,
• 51:05
  Speaker 3: doesn't matter that much. You've got some damp plaster. They've
• 51:08
  Speaker 3: clearly not like waterproofed it properly. I said, well, you know,
• 51:12
  Speaker 3: do I have to fix it the second I move?
• 51:14
  Speaker 3: And he's like, oh, like no, it's going to need fixing.
• 51:17
  Speaker 3: You've got at least eighteen months though, like you're not
• 51:20
  Speaker 3: going to notice it. It's just he did this like
• 51:21
  Speaker 3: monitor on the wall and realized anyway, that was great
• 51:25
  Speaker 3: for us we were going to renovate anyway. For me,
• 51:29
  Speaker 3: I was going to be redoing that whole bathroom. So
• 51:32
  Speaker 3: I was like, Okay, well, I can live with that
• 51:34
  Speaker 3: for eighteen months. It's a non issue. But for other
• 51:37
  Speaker 3: people that might be like, I'm sorry, I don't actually
• 51:40
  Speaker 3: have in budget a bathroom renovation, so therefore that might
• 51:44
  Speaker 3: be a no go zone for you. Yeah, I want
• 51:46
  Speaker 3: you to have that opportunity. I want you to have
• 51:49
  Speaker 3: the ability to know what you're kind of up for.
• 51:52
  Speaker 3: Another thing that we looked into, and I've again spoken
• 51:55
  Speaker 3: about this on the podcast. Steve and I were looking
• 51:57
  Speaker 3: at an apartment. We're looking at like this betiful three
• 52:00
  Speaker 3: bedroom apartment, and I was so excited for it. And
• 52:04
  Speaker 3: then we read the minutes of the meeting for their
• 52:07
  Speaker 3: annual general meetings like Body Corporate, and found out that
• 52:11
  Speaker 3: the cladding on the front of the building didn't meet
• 52:14
  Speaker 3: fire coat and that meant that every single resident in
• 52:18
  Speaker 3: this building, and it wasn't like a massive, like fifty
• 52:21
  Speaker 3: apartment block, it was like I think it was like
• 52:23
  Speaker 3: fifteen or something. Every resident would be up for between
• 52:26
  Speaker 3: forty and fifty thousand dollars. Crazy did you have the
• 52:30
  Speaker 3: entire building recladded? According to Body Corporate, it's a no
• 52:34
  Speaker 3: from me. It was a no from us. But like,
• 52:36
  Speaker 3: if you don't have someone inspecting, if you don't have
• 52:39
  Speaker 3: someone who could point these things out, we could have
• 52:42
  Speaker 3: purchased this apartment and then six months down the track
• 52:45
  Speaker 3: got a knock on our door or a letter under
• 52:47
  Speaker 3: the door that said, hey, cool, Body Corporate needs you
• 52:49
  Speaker 3: guys to cough up forty grand. Sorry what Yeah, absolutely not.
• 52:54
  Speaker 3: So I guess every single property it's going to be
• 52:57
  Speaker 3: a little bit quirky. There's going to be some things.
• 52:59
  Speaker 3: But it's better to know that you're buying a home with,
• 53:01
  Speaker 3: you know, a dodgy retaining wall, then find out six
• 53:04
  Speaker 3: months later when it collapses and you didn't see it.
• 53:06
  Speaker 4: Coming, definitely, and you can negotiate down based on those things.
• 53:09
  Speaker 3: Too, exactly. And also this is cheeky, and I've been
• 53:11
  Speaker 3: telling people to do this recently. I think I told
• 53:13
  Speaker 3: you to do this the other day, kind of like
• 53:15
  Speaker 3: a money saving hack. Ask the real estate agent if
• 53:18
  Speaker 3: a building and pest inspection has already been done, because
• 53:21
  Speaker 3: often they will tell you maybe who did it, and
• 53:25
  Speaker 3: then they'll on sell it to you, So instead of
• 53:28
  Speaker 3: spending four hundred dollars, they might go, oh, we actually
• 53:30
  Speaker 3: inspected that property recently. The reports to here under fifty bucks. Yeah,
• 53:35
  Speaker 3: what a coincidence that I happen to want to buy
• 53:37
  Speaker 3: that specific report. Who'd you win? Right, Jess, I'm going
• 53:40
  Speaker 3: to fly through this because I feel like I could
• 53:42
  Speaker 3: yap about this all day. I've got it written down.
• 53:45
  Speaker 3: Tip six is be ready to move in, but don't rush.
• 53:50
  Speaker 3: And I know you're not at this stage yet, but
• 53:52
  Speaker 3: I also know, miss jessic Ricci, the second you get
• 53:54
  Speaker 3: your house, you're gonna want to move in immediately, right
• 53:56
  Speaker 3: like you're going to want to move in before settlement. Yeah,
• 53:58
  Speaker 3: I'm onto you. We're not doing that. So the average
• 54:02
  Speaker 3: days for a property to be on market nowadays is
• 54:05
  Speaker 3: thirty five days nationally. So if you like something, unfortunately,
• 54:10
  Speaker 3: it's not going to be a really long process like fores. Yes,
• 54:14
  Speaker 3: it is, because we're finding things, we're not getting them.
• 54:17
  Speaker 3: If you find something and you've put in an offer,
• 54:21
  Speaker 3: that is usually going to take less than a month
• 54:23
  Speaker 3: from you seeing the property online to you handing over
• 54:27
  Speaker 3: a deposit, which can be really intimidating. But that does
• 54:31
  Speaker 3: not mean that we are panic buying. That does not
• 54:32
  Speaker 3: mean that we're jumping up and down. What we want
• 54:35
  Speaker 3: to do is make sure that we know what our
• 54:36
  Speaker 3: finance is doing. So we want to have our pre
• 54:39
  Speaker 3: approval ready. We want to be in a position where
• 54:41
  Speaker 3: we know what we can spend. And jess you've been
• 54:43
  Speaker 3: doing this through Zella money, so that's obviously my mortgage
• 54:46
  Speaker 3: breaking business. But we're absolutely looking after you. But it's
• 54:50
  Speaker 3: interesting because once you have your pre approval, we have
• 54:53
  Speaker 3: one client. So funny, if you're listening, I do love you.
• 54:56
  Speaker 3: I just think it's quite funny. Who has had con
• 55:00
  Speaker 3: assistant pre approval for the last three years. That's crazy. Yes,
• 55:04
  Speaker 3: they want it, and we have said, hey, we've done
• 55:07
  Speaker 3: your pre approval. Your situation hasn't changed, ip your credit
• 55:11
  Speaker 3: score exactly. So pre approval is really important if you're
• 55:15
  Speaker 3: going to buy, because we can tell you what you
• 55:18
  Speaker 3: can borrow, and we can get the bank to basically say, yep,
• 55:21
  Speaker 3: we would absolutely give miss Jessica Ricci money. And you've
• 55:24
  Speaker 3: been through the pre approval process before. But that pre
• 55:27
  Speaker 3: approval on average, depending on the bank, is only going
• 55:30
  Speaker 3: to last for ninety days. So if you get pre approval,
• 55:33
  Speaker 3: then you don't buy your first home. Very likely your
• 55:36
  Speaker 3: pre approval can lapse, and a lot of people are
• 55:38
  Speaker 3: going to run straight back to their broker and say,
• 55:41
  Speaker 3: oh my god, my pre approval laps. Can you please
• 55:43
  Speaker 3: do it again? We can do it again. That's fine,
• 55:45
  Speaker 3: it's free, Like, I'm not going to charge you for that.
• 55:47
  Speaker 3: But every time you do your pre approval, I am
• 55:50
  Speaker 3: inquiring on your credit score, and every time we inquire
• 55:54
  Speaker 3: on your credit score, it could impact your credit number,
• 55:58
  Speaker 3: and we don't want to do that. So have your
• 56:00
  Speaker 3: pre approval ready, but being consistent communication with your broker
• 56:05
  Speaker 3: around okay, cool, Like I am really ready to buy
• 56:07
  Speaker 3: if there's one that you'll like, super be these properties
• 56:12
  Speaker 3: come up on Monday. Really want to go to auction
• 56:14
  Speaker 3: on Saturday. I'm not saying every single time we can
• 56:18
  Speaker 3: get it done. Yeah, most of the time we can, though,
• 56:21
  Speaker 3: but we want to make sure that we're not just
• 56:23
  Speaker 3: keeping ourp pre approval in the back in case we
• 56:25
  Speaker 3: want to buy, because I don't want it to negatively
• 56:27
  Speaker 3: impact your credit score definitely. The next is knowing your brief,
• 56:30
  Speaker 3: having your checklist and checking it twice, but also knowing
• 56:33
  Speaker 3: your non negotiables versus you're nice to tas. How many
• 56:37
  Speaker 3: times have you seen people go to open for inspections
• 56:40
  Speaker 3: because you're like, Oh, it's in my area and I
• 56:41
  Speaker 3: think I could spend that. Yeah. No, Like, we want
• 56:45
  Speaker 3: to be quite clear on what we're purchasing. Again, it
• 56:48
  Speaker 3: is the biggest financial decision you are very likely to
• 56:52
  Speaker 3: make in your entire life. And we're not skipping steps.
• 56:55
  Speaker 3: I'm so sorry. I want to cut to the chase
• 56:58
  Speaker 3: as well, but we're not skipping in space. We're not
• 57:00
  Speaker 3: skipping our due diligence. We are not skipping our building
• 57:02
  Speaker 3: and pest inspections just because you're tired, just because you're
• 57:06
  Speaker 3: over it and we're a little bit desperate, we can't
• 57:10
  Speaker 3: skip these things. I'm so sorry. So, Jess, any other
• 57:14
  Speaker 3: tips and tricks to leave us with?
• 57:15
  Speaker 6: No.
• 57:16
  Speaker 3: I think that's been great.
• 57:16
  Speaker 5: Like I said, if you haven't already joined the Facebook group,
• 57:19
  Speaker 5: that's where all the.
• 57:20
  Speaker 3: Where we're hanging out, that's where we're yapping the most
• 57:22
  Speaker 3: about property. So I guess that's probably a really good
• 57:25
  Speaker 3: place to leave it. Jess, thanks for hanging out on
• 57:27
  Speaker 3: the show with me today. That has been really fun
• 57:30
  Speaker 3: and sharing literally everything that you have learned. I know
• 57:34
  Speaker 3: so many people are listening to this and they're like, no, Jess,
• 57:36
  Speaker 3: I thought you would have purchased your first property. So like,
• 57:38
  Speaker 3: we're all in your corner and we are all so
• 57:40
  Speaker 3: excited for you. But also there are so many people
• 57:43
  Speaker 3: listening to this and they're like, low key, thank god
• 57:46
  Speaker 3: Jess hasn't brought our first home, because like, neither.
• 57:48
  Speaker 4: And I'm glad it's not just me no, And it's
• 57:50
  Speaker 4: nice to know that we're all in the same boat.
• 57:52
  Speaker 3: And if you've got a friend who's house hunting right now,
• 57:54
  Speaker 3: you know what I think you should do. You should
• 57:56
  Speaker 3: send this episode their way. It might save them a
• 57:58
  Speaker 3: lot of heartache and hopefully a few thousand dollars. And
• 58:02
  Speaker 3: as always, please don't forget to subscribe, leave us a
• 58:05
  Speaker 3: cheeky little review, and we're going to see you on
• 58:06
  Speaker 3: Friday for another juicy episode. Bye guys. Hye.
• 58:16
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• 58:19
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• 58:23
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• 58:26
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