Buying your first home is exciting, but let’s be honest, it can also be overwhelming. When emotions are high and you’re keen to make an offer, it’s easy to overlook potential problems. Some issues that seem minor at first can become more significant if not identified early.
1. "Too Good to Be True" Listings
If a property seems suspiciously underpriced, tread carefully. In some cases, price guides may not fully reflect current market conditions, so it’s important to check recent comparable sales. Always compare recent sales in the area and request a price guide in writing if available.
2. Cosmetic Fixes That Hide Bigger Issues
A new coat of paint or trendy reno might look great, but don’t let fresh finishes distract you. Sometimes cosmetic updates can make it harder to spot underlying issues, so it’s worth looking closely at areas where problems are commonly concealed. Look beyond the surface; check ceilings, skirting boards, and windows for signs of patch jobs or bubbling paint that could mean hidden damage.
3. Strata Problems (for Units or Townhouses)
If you’re buying into a strata complex, always request a strata report. Warning signs include:
- Low balance in the sinking fund (future repairs may hit you with big levies)
- A history of disputes or non-compliance
- Planned major works (like new roofing) not factored into current fees
- No strata report available? That’s a strong signal to proceed cautiously and seek further information before committing
4. Risky Location Factors
Check flood zones, bushfire overlays, or proximity to high-voltage powerlines. These factors can influence how the property is used and insured, so it’s important to understand any zoning or environmental considerations. Your local council or planning maps can help here, or ask your conveyancer to review zoning restrictions and environmental hazards.
5. Skipping Building & Pest Inspections
Many first-home buyers skip inspections to save money or "stay competitive", but this can sometimes lead to unexpected repair costs. Termite damage, roof leaks, or illegal extensions can result in issues that may be costly or difficult to address later. A $500–$800 inspection is a small price for peace of mind.
You Don’t Have to Spot Every Red Flag Alone
The truth? Even seasoned buyers use checklists, reports, and professionals to protect themselves. You’re not expected to know it all, just to slow down enough to spot warning signs when they appear.
That’s why we created the free First Home Buyer e-book. It includes a full breakdown of red flags, strata reports, inspection tips, and common first-time buyer mistakes to avoid.
Download the First Home Buyer e-book if you want a practical guide designed to help you feel more informed and aware of common pitfalls.
