Why waiting for a dream home can cost you thousands in Queensland's hot market

Full transcript

Here are some common mistakes that we see first homebuyers make every day. The first massive one would be waiting, waiting for a bigger block, waiting for a different location, pretty much chasing a tail because each land release increases in price. So by you waiting, basically throwing money down the drain.

A lot of people are impatient. They kind of either want the perfect thing or they want it today. So I get the question, "Are they ready for built homes?" This market that we're in and Queensland at the moment is already higher than Melbourne. Things are going so fast. There just isn't any appetite to have a pre-constructed home that the builders will carry the cost on. They just don't exist.

A lot of people try and look at the established market, which is overpriced. The best thing to do is come to Low Deposit Homes, let us show you what options you have with Houseland. Yes, it isn't going to be a tomorrow thing, but that doesn't matter. Get into the market first, pay your home down. Then go get the dream home in a few years.

Another good thing, Chaice, is when you're doing Houseland as opposed to established, you know what you're getting. You know the price. It's a fixed price and you're not competing with everyone else in the market who's trying to buy something established, which is advertised for offers over $800 and it's selling for $900. Competing is a terrible choice to make because you've got to remember there are a lot of investors that have made their money in property. They're just going to pay more than you and you're going to get overpriced and pay too much forward.