Episode 43: David Johnston - Understanding The First Home Buyer Process

The first home buyer process can be overwhelming, as you know that you want to own your own home, but it feels so out of reach and, with the cost of living, the balance of socialising and the pressure from family, you feel that it's impossible to get ahead. Today we talk about what the best strategy is, to achieve your dreams. 

David Johnston is the Founder and Managing Director of Propertyplanning.com.au, which he started in 2004, and he's the Co-Host of the podcast thepropertyplannerbuyerandprofessor.com.au with Cate Bakos and Peter Koulizos, author of multiple books including: 'How To Succeed With Property To Create Your Ideal Lifestyle', which we will tell you how you can get a free copy of, at the end of this podcast, as well as 'Property For Life - Using Property To Plan Your Financial Future'. 

David and his team have pioneered property planning and mortgage strategy. They are passionate about educating and empowering professionals and families to create their own personalised property plan, mortgage strategy and money management system.

David also ran Australia's only university endorsed education course on property planning for ten years with university lecturer Peter Koulizos, and now infuses all the education into their personalised service.

He believes in fiercely independent advice and his company provides what he calls 'Pure Planning'. Property Planning Australia is the first company in Australia to produce independent property advice without earning fees from buying selling property, investments, insurance or super products. It truly is independent advice.

David, how old were you and how did you come to buy your first home?

1. Where should first home buyers start when thinking about buying a home?

   a). You suggest that you should start with the end in mind by developing your property plan? What do you mean by that?

   b). How important is it to determine 'Where you want to buy?' before deciding 'What to buy?'

2. What are some good strategies when it comes to saving?

   a). Why is mortgage strategy more important than the interest rate?

3. How long should the process take from starting to save to looking at buying?

4. How much should we save for the deposit?

   a). Should we be aiming for the family home, or something smaller as a first home?

   b). Is it really all about the long-term strategy?

5. If we have a savings goal of say 5 years, how much extra should we be adding to our saving goal knowing that the market will rise?

6. Who will be your best friend throughout the process of buying your first home?

   a). Who else should be on your side?

7. How do we know what government schemes are available to us?

8. At what stage of the saving goal should first home buyers actually start looking at viable properties to buy?

    a). If it's from day one, should you have an emotional strategy? That is, take away any emotional pull when looking, and look for the practical elements - like function, added value extras, storage, parking etc and see what that can buy you at your price point.

OFFER:

Real Estate Right Listeners can download a free Ebook titled 'How to Succeed with Property to Create Your Ideal Lifestyle. The Three Steps to Success and Seven Critical Mistakes'.

Go to www.propertyplanning.com.au

David Johnston can be contacted at: (03) 9819 4088 

or by email: info@propertyplanning.com.au

Podcast: The Property Planner, Buyer and Professor