How to Buy Your First Property – Step-by-Step with Emma & Karen)

By Molly Benjamin, Founder of Ladies Finance Club

Listen to the full podcast here.

If buying your first place feels overwhelming, this episode of Get Rich is your calm, practical roadmap. Molly sits down with mortgage broker Emma Stephens (Flint Group) and buyer’s agent Karen Lacheta-Pell (Investor Property) to walk through the journey from “I think I’m ready” to keys in hand, minus the jargon and panic. Along the way they cover why investing matters for women, how to use a mortgage broker and buyer’s agent, and the money moves that make home ownership achievable.

Why this matters for women

Women retire with less super on average and live longer, which makes asset building essential. Leaving cash in the bank can feel safe, but inflation quietly shrinks it. A considered purchase, whether a home to live in or investment properties - creates stability, choice, and long-term wealth. That’s financial literacy in action.

Your first-home pathway 

1) Start with a broker (today).
Emma’s first step is always a chat to map your borrowing capacity, deposit, and an initial loan strategy (variable, fixed, or a split). Even if you’re 6–12 months out, a pre-approval focuses the search and reveals any gaps to fix now. Expect lenders to re-check income every ~90 days until you buy.

2) Decide: live in it, or rentvest?
Karen models both scenarios: owner-occupier (buy where you want to live) vs rentvesting (rent where you love, buy where the numbers work). For many, rentvesting accelerates wealth because your purchase targets better yields and growth drivers.

3) Build your A-team.
Broker = strategy and lender matchmaking. Buyer’s agent = market research, pricing, and negotiation. Conveyancer/solicitor = contract review, searches, and settlement. Good pros save time, money, and stress.

4) Shortlist like an investor.
Even for your home, think like a strategist: transport, jobs, schools, supply, strata health. For apartments, make sure the price excludes “shadows” (furniture) that can distort valuations.

5) Offer right, then go unconditional.
Submit your offer subject to finance. The bank orders a valuation; if it lands short, you may renegotiate or tip in extra cash. Once the lender signs off, your approval turns unconditional and your conveyancer steers everything to settlement.

6) Settlement & keys.
Timelines vary (about 30 days in QLD; often 42–90 in NSW/VIC). On settlement day funds move, title changes, and you collect the keys. If it’s an investment, a good property manager lines up tenants immediately to keep money management tight.

Avoidable mistakes (and easy fixes)

• Analysis paralysis. Set a decision date and lean on your professionals. Waiting years can cost more than buying well today.
  
• Emotional buying for investments. Your tenant’s needs, not your Pinterest board, drive returns. Stick to fundamentals and numbers.
  

Loan choices without the headache

Variable offers flexibility (offsets, extra repayments). Fixed gives repayment certainty for a set term. A split gets you both. Pick based on your time horizon and behaviour, not just today’s headline rate—Emma tweaks structure once a property is found if market conditions shift.

The quiet superpower: Systems

Separate an offset/emergency buffer from daily spending, automate bills (rates, strata, insurance, maintenance), and review annually. Simple systems are what make financial advice stick.

Bottomline is you don’t need to be perfect, you need a plan. Talk to a mortgage broker to know your numbers, consider a buyer’s agent to source and negotiate, and choose the path (home or rentvesting) that compounds your wealth fastest.

 Plus, a huge shoutout to our sponsor, InvestorKit! Australia’s #1 Buyers Agency for 2023 and 2024. They specialise in helping investors find high-growth properties utilising industry leading AI and data driven research process across Australia. 70%+ of the properties they purchase are off-market and they have consistently outperformed national average capital growth rates by over 49%. Whether you’re looking to build your property portfolio or secure your first investment. Check them out here.