Cracking the property code: How market knowledge gives FHB the edge
Description
In this episode of the First Property Buyer Show, host Emilie Lauer speaks with Nick Voegt from Smash Property Investing to explore how first-time buyers can navigate the market through understanding key data.
Nick starts by sharing his experience in buying his first off-the-plan property in Schofields, north-west Sydney, at the market peak in 2017, which he held onto despite early dips.
He reflects on experiencing "analysis paralysis," a common hurdle for first-time buyers overwhelmed by information, emphasising the need for decisiveness.
According to Nick, first-time buyers can gain an edge in a competitive market by focusing on sales volumes, days on market, and overall market momentum rather than just historical growth.
He also explains the buying the "worst house on the best street" strategy to add value through renovations and "rentvesting", which allows buyers to invest while renting their primary residence.
He also highlights promising investment regions across Australia, including Melbourne, Victoria, and Brisbane, Queensland, for different budgets.
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