Imagine saving for years, finally building up a $43,000 deposit, only to risk losing it all because of one overlooked detail.

That’s exactly what happened to a Victorian first home buyer caught out by a little-known property type — and the fine print of a government scheme.

In this episode, Meighan and Veronica unpack a real-life buyer disaster that highlights just how easy it is to confuse stratum title with strata title. They explain what stratum actually is, why banks and schemes often reject it, and how a rebound auction decision left this buyer in a financial nightmare.

You’ll learn why due diligence is never optional — from getting a solicitor to review contracts, to understanding the small print in shared equity schemes like the Victorian Homebuyer Fund and the soon-to-launch federal Help to Buy program. We also explore how excitement, missed inspections, and poor advice can cloud judgment and lead to costly mistakes.

If you’ve ever felt tempted to rush into a property after missing out, or if you’re considering government assistance programs, this story is your warning. Don’t let confusion or haste put your hard-earned deposit at risk — get the right advice, follow the right process, and buy with confidence.

Episode Highlights

00:00 – Introduction

02:22 – The Home Buyer’s Tale Begins

03:14 – Understanding Stratum Title

05:21 – The Costly Mistake

07:42 – Government Schemes and Their Pitfalls

09:39 – Read the Fine Print: SuperSaver Scheme Mistake

10:34 – Shared Equity Schemes Explained

15:36 – Lessons from the Buyer’s Experience

20:07 – Final Thoughts and Course Promotion

Mentions

• Ep. 229 – Grants, Schemes & Stamp Duty: The Costly Mistake First Home Buyers Keep Making
• Help to Buy

Course Details:

• THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG

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