First Home Unlocked

Jack Elliott
  • 0.0 (0)
  • How To
  • Updated Biweekly

Buying your first home is a huge milestone, but it can also feel overwhelming, confusing, and full of pressure. First Home Unlocked is here to change that, and to help you reach your first home with clarity and confidence. Hosted by Jack Elliott, National First Home Buyer Specialist at Alcove, and Chris Bates, one of Australia’s top-ranked mortgage brokers, this podcast simplifies the home buying journey and empowers you with the keys to unlock your first home. Each episode is practical, clear, and designed specifically for first home buyers. From understanding the buying process to choosing a property that fits your long-term vision, Jack and Chris will guide you through every step with real conversations and expert support. You’re not in this alone. Hit subscribe and let’s unlock your first home together.

  1. 2d ago

    43 - Market Update: 5% Deposit Scheme Changes and How to Get Spring Ready

    There's a lot of noise in the market right now. The federal budget changes are locked in, the media coverage has turned negative, and first home buyer loan applications have actually dropped rather than risen. If you're planning to buy your first home, it's hard to know what any of that means for you. In this episode, Jack Elliott and Chris Bates give a market update on where things really stand post-budget, and why a nervous market can work in a first home buyer's favour. They also run through the three changes that came into effect on 1 July under the First Home 5% Deposit Scheme: higher property price caps in some areas, easier refinancing rules, and a new cap on how much you can retain in savings after settlement. Jack shares a client situation from last week showing how the retained savings change plays out in practice, and why the answer depends on both the scheme rules and the lender you choose. Then there's what you can actually control. Spring listings are coming, and the buyers with a plan in place can act straight away while the ones starting from scratch are weeks behind before they've even inspected a property. In this episode: 🔑 What's really happening in the market now the budget changes are locked in 🔑 The new price caps and which regional areas can now access the higher $1.5 million cap 🔑 What changed with refinancing under the scheme and why the switch is now easier 🔑 The new cap on retained savings, and why each lender sets its own limit underneath it 🔑 The five step roadmap to get yourself spring ready before listings pick up Timestamps 00:00 - Where the Market Really Sits Post Budget 05:44 - What Investors Are Doing and What It Means for You 07:29 - Is It Actually a Good Time to Buy? 09:57 - What Changed on 1 July: The New Price Caps 12:43 - Refinancing Under the 5% Deposit Scheme 13:45 - Retained Savings: The New Cap and a Client Example 17:10 - Why Lender Choice Matters More Than the Cheapest Rate 18:39 - The Five Step Roadmap to Get Spring Ready 24:51 - Why is it Important to Get Spring Ready? 26:45 - Final Thoughts and Wrap Up Ready to start your own first home journey? Book a Get to Know You Chat with Jack, mortgage broker and National First Home Buyer Specialist. Free Resources Goals & Visions Workbook Mentioned Episodes Episode 1: Unlocking Your Goals and Vision Episode 6: Unlocking Asset Quality Episode 10: Unlocking the 5% Deposit Scheme Episode 37: Unlocking the 2026 Federal Budget Episode 39: Unlocking the Real Risk of Buying with a 5% Deposit and How to Protect Yourself Episode 41: Unlocking Buyers Agents: What First Home Buyers Need to Know Episode 42: How to Choose a Quality First Home: A Buyers Agent's Checklist Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored support 📱 Follow Us on social media: Instagram, TikTok, Youtube firsthomeunlocked.com.au

  2. Jul 21

    42 - How to Choose a Quality First Home: A Buyers Agent's Checklist

    We talk about asset quality constantly on this podcast because it's one of the biggest decisions you'll make as a first home buyer. But understanding why it matters and actually knowing how to assess a property in the real world are two different things. That's why Meighan Wells, a buyers agent with over 22 years of experience and founder of Property Pursuit Advisors, is here to break down exactly what asset quality looks like. Your first home isn't just somewhere to live, it's the foundation of your future wealth. In this episode, Meighan walks through why getting this right matters so much for first home buyers, how scarcity, supply, and demand shape long-term growth, and the fundamentals to look for at a suburb level. We also go into what actually makes a good street, a good block of land, and a good property, plus what to look out for on your inspections and the common mistakes first home buyers make that can really cost them down the track. This is a really important episode in understanding what quality actually looks like at each level, from suburb to street to property, is what separates first home buyers who move forward confidently from those who end up making costly mistakes. In this episode: 🔑 Why asset quality matters so much for first home buyers 🔑 How scarcity, supply, and demand shape long-term growth 🔑 What to look for when assessing a suburb 🔑 What makes a good street, block, and property 🔑 What to look out for on inspections and the mistakes to avoid Timestamps 00:00 - Introducing Meighan Wells 01:31 - Meighan's Story: Background and Passion for First Home Buyers 04:12 - Why Asset Quality Matters 05:57 - Scarcity, Supply, and Demand Explained 07:42 - Strategy First, Not Apps 11:08 - What to Consider at Suburb Level 14:02 - Assessing at Street Level 17:45 - What to Look For When Inspecting 26:53 - Aspect and Orientation: What's Ideal 31:04 - Common Mistakes First Home Buyers Make 35:53 - The "Any Property Is Better" Myth 37:42 - What Makes a Good Apartment 40:41 - Townhouses: What to consider? 42:13 - How to Choose between Apartments vs Townhouses vs Houses 46:21 - The Revise and Correct Step 48:54 - What About New Builds? 51:35 - Final Asset Quality Tips 55:06 - Home Buyer Academy and Campfire Sessions 59:04 - Where to Find Megan and Property Pursuit Ready to start your own first home journey? Book a Get to Know You Chat with Jack mortgage broker and National First Home Buyer Specialist. More about Home Buyer Academy HBA First Home Buyer Course (Access for half price if you work with First Home Unlocked - start here) Home Buyer Academy Website Your First Home Buyer Guide Podcast Connect with Meighan Property Pursuit Website Meighan's Linkedin Mentioned Episodes Episode 6: Unlocking Asset Quality Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored mortgage support 📱Follow Us on social media: Instagram, TikTok, Youtube firsthomeunlocked.com.au

  3. Jul 7

    41 - Unlocking Buyers Agents: What First Home Buyers Need to Know

    We've talked a lot on this podcast about getting your finance sorted, but as we always say, the most important decision you'll make is the actual property you purchase. That's why we're kicking off a six-part series with two of Australia's most experienced buyers agents, Veronica Morgan and Meighan Wells from the Home Buyer Academy. Not every first home buyer knows what a buyers agent actually does or whether it's the right fit for them. In this episode, Jack sits down with Veronica to walk through what buyers agents do, how they differ from sales agents, the different ways you can engage one, and what it costs. We also explore the red flags to watch for and the key questions to ask before you commit. If a full buyers agent service isn't within reach right now, Veronica and Meighan have also created a First Home Buyer Course and weekly Campfire sessions that bring you access to expert guidance at a lower price point. In this episode: 🔑 What a buyers agent actually does and how they're different from a sales agent 🔑 The three service tiers available and what each typically costs 🔑 When it makes sense to use a buyers agent 🔑 The red flags to watch out for and the questions to ask before engaging one 🔑 How the Home Buyer Academy course and Campfire sessions support first home buyers Timestamps 00:00 - Introducing Veronica Morgan 02:21 - Why She's Passionate About First Home Buyers 04:29 - Today's Topic and Special Offer 04:58 - Buyer's Agent vs Sales Agent 06:37 - Service Tiers: What's Available 07:19 - How Much Does a Buyer's Agent Cost? 08:22 - Why Cheap Buyer's Agents Aren't Worth It 09:52 - Red Flags to Watch Out For 12:54 - Questions to Ask Before You Commit 14:47 - Is the Cost Actually Worth It? 17:02 - The Emotional Side of Home Buying 19:54 - When Should You Engage a Buyer's Agent? 22:43 - Can't Afford a Buyer's Agent? Your Options 23:59 - The Home Buyer Academy and Campfire Sessions 29:16 - What's Next in the Series Ready to start your own first home journey? Book a Get to Know You Chat with Jack mortgage broker and National First Home Buyer Specialist. More about Home Buyer Academy HBA First Home Buyer Course (Access for half price if you work with First Home Unlocked - start here) Home Buyer Academy Website Your First Home Buyer Guide Podcast Connect with Veronica Veronica's Website Good Deeds Property Buyers Website Veronica's Linkedin Find Out More About Alcove’s Trusted Buyers Agents Street Secrets Podcast Alcove Trusted Buyers Agent Map Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored mortgage support 📱Follow Us on social media: Instagram, TikTok, Youtube firsthomeunlocked.com.au

  4. Jun 23

    40 - Unlocking Who Buys It From You Next: How the Budget Changed Buyer Pools

    If you listened to Episode 37, you heard about the federal budget changes to negative gearing and capital gains tax. But there's a conversation we kept coming back to that deserves its own episode. It's not just about what you buy today, it's about who's going to buy it from you in the future. Since that episode, Chris has written a full report exploring exactly that question. It's called "Who Buys It From You Next?" and it looks at how the budget has reshaped buyer pools across different property types and what that means for the long-term value of what you buy today. In this episode, Jack interviews Chris about that report because there's some really important thinking here that every first home buyer needs to hear before they make a property decision. We cover how investors made up around 40% of all new home loans before the budget and why they've now stepped back from the established market. We talk about why grandfathering protects the current owner's tax position but not the next buyer and most importantly, we walk through the six practical tests from Chris's report that you can use to stress test any property before you commit. In this episode: 🔑 Why "who buys it from you next" is the question most people never ask 🔑 How the budget has changed buyer pools for established properties 🔑 Why properties driven by investor demand are now at risk 🔑 What properties with genuine owner-occupier demand actually look like 🔑 The six tests to stress test a property before you buy Timestamps 00:00 - Who Will Buy It From You Next? 02:48 - The Key Question When You're Buying 06:58 - Investor Activity and What It Means Post Budget 10:37 - When Investors Are Your Buyer Pool 16:22 - When Families and Owner-Occupiers Drive the Market 18:45 - The Six Tests for Property Assessment Free Resources Chris Report: Who Buys it From You Next Mentioned Episodes: Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer Episode 37: Unlocking the 2026 Federal Budget Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored support 📱Follow Us on social media: Instagram, TikTok, Youtube firsthomeunlocked.com.au

  5. Jun 9

    39 - Unlocking the Real Risk of Buying with a 5% Deposit and How to Protect Yourself

    If you've been reading the news or scrolling through social media this week, you've probably seen some headlines about first home buyers using the 5% deposit scheme and something called negative equity. There is a real risk worth understanding. But for every first home buyer using this scheme, there's a clear strategy that goes with it. In this episode, Jack Elliott and Chris Bates address the headlines and talk through what negative equity actually is, when it really matters, and most importantly, how you protect yourself whether you're still planning to buy or you've already purchased using the scheme. We cover the five key things you can do to protect yourself going in, from knowing your numbers before you borrow to building your emergency fund, choosing quality assets, and getting your income protection sorted. In this episode: 🔑 What the headlines are actually saying about negative equity 🔑 What negative equity really is and when it matters 🔑 How to work out what you can genuinely afford before you borrow 🔑 Why building your emergency fund is critical with a 5% deposit 🔑 The importance of asset quality and protecting your income 🔑 What to do if you've already bought and are feeling anxious If you're planning to buy using the 5% deposit scheme and want to talk through your numbers, book a Get to Know You Chat with Jack. Timestamps 00:00 - Should We Be Worried About the 5% Deposit Scheme? 01:54 - What Headlines and Bank Economists Are Actually Saying 03:52 - What Is Negative Equity and the Risk? 06:53 - How to Protect Yourself as a First Home Buyer 07:05 - #1 Do the Work on Your Numbers Before You Borrow 10:18 - #2 Build Your Emergency Fund 13:19 - #3 Know Your Goals and Play for the Long Term 15:38 - #4 Do the Work on Asset Quality 17:31 - #5 Get Insurance and Income Protection in Place 20:28 - If You Lose Your Job 21:46 - If You've Already Bought Using the Scheme Budgeting tools Sort Your Money Out Spending PlanPivot Wealth Savings Planner Moneysmart Budget Planner Resources Goals & Visions WorkbookAsset Quality ChecklistDownload Your How to Protect Yourself When Using the 5% Deposit Scheme Resource Mentioned Episodes Episode 1: Unlocking Your Goals and VisionEpisode 6: Unlocking Asset QualityEpisode 23: Unlocking Loan to Value RatioEpisode 25: Unlocking Interest Rates and Why They MoveEpisode 31: Unlocking Offset AccountsEpisode 37: Unlocking the 2026 Federal Budget Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored support 📱Follow Us on social media: Instagram, TikTok, Youtube firsthomeunlocked.com.au

  6. May 26

    38 - Unlocking How Banks Assess Self Employed Income

    If you're self-employed, banks will usually need more from you before they'll lend compared to a PAYG employee. Understanding what banks are looking for means you can present your income in the best possible way and set yourself up for success. In this episode, Jack Elliott and Chris Bates break down how banks assess self-employed income. We talk through the standard two year approach, why one year financials could significantly increase your borrowing capacity, what your options are if your ABN is less than two years old, and how the director wages pathway could change what you're able to borrow. We also cover the tension between tax minimisation and borrowing capacity, why speaking to a broker before you lodge your tax return matters, and how connecting your broker and accountant early can help you find the right balance between both. In this episode: 🔑 How banks assess self-employed income using two years of financials 🔑 Why one year financials could significantly increase your borrowing capacity 🔑 What your options are if your ABN is less than two years old 🔑 How the director wages pathway could change what you're able to borrow 🔑 Why speaking to a broker before you lodge your tax return is so important Timestamps Timestamps 00:00 - Budget Changes: What We're Seeing for First Home Buyers 01:36 - Introduction to Self Employed Income Assessment 04:09 - The Standard Two Year Approach 04:41 - Balancing Tax Minimisation and Net Profit 07:20 - One Year Financials Policy with Example 09:18 - Protecting Yourself as a Self Employed Buyer 12:07 - Director Wages Policy 14:57 - What If Your ABN Is Less Than Two Years Old? 17:36 - Business Debts and Addbacks 19:41 - Getting the Best Outcomes as a Self Employed Buyer 22:19 - The Tax Return Trap 24:25 - Getting the Right Team Around You Free Resources Download Your How Banks Assess Self Employed Income Resource Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored support 📱Follow Us on social media: Instagram, TikTok, Youtube firsthomeunlocked.com.au

  7. May 14

    37 - Unlocking the 2026 Federal Budget & What it Means for First Home Buyers

    The Federal Budget just changed the property market overnight, and the government is calling it a win for first home buyers. If you're a first home buyer, you're probably seeing a lot of headlines and wondering what it actually means for you and your plans. In this episode, Jack Elliott and Chris Bates break down the major budget announcements and what they mean for the property market. We talk through the changes to negative gearing and capital gains tax, how investors are likely to respond, what this means for house prices and competition, and most importantly what it all means for you as a first home buyer. Whether you're actively looking at properties right now, still in the planning stage, or you've recently purchased, this episode covers what you need to know and how to think about moving forward. In this episode: 🔑 The major budget changes to negative gearing and capital gains tax 🔑 How investors are likely to respond and what that means for competition 🔑 Which types of properties and markets will feel these changes the most 🔑 The tools and data you can use to check if an area is investor-heavy 🔑 What first home buyers should be doing right now whether actively looking or still planning Timestamps 00:00 - What the Federal Budget Means for First Home Buyers 04:00 - What Was Actually Announced and Initial Thoughts 08:11 - How Investors Will Respond 11:31 - What It Means for First Home Buyers 14:39 - Tools to Check Investor vs Owner Occupier Markets 19:01 - What Happens to House Prices 22:03 - Should Active Buyers Wait or Keep Going? 24:09 - What Happens to Competition in the Market 26:05 - Asset Quality and Property Selection Right Now 33:10 - What It Means for the Rental Market 38:12 - If You're Planning to Buy in the Future 40:36 - The 5% Deposit Scheme and Help to Buy 43:09 - If You've Already Purchased 43:41 - Interest Rates and What Happens Next Free Resources Open Stats Tool - Property Data Census - Property Data Download Your Federal Budget 20206 Resource Mentioned Episodes: Episode 6 | Unlocking Asset Quality: How to Choose the Right Property as a First Home Buyer Episode 26 | Unlocking the Federal Government ‘Help to Buy’ Shared Equity Scheme Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored support 📱Follow Us on social media: Instagram, TikTok, Youtube firsthomeunlocked.com.au

  8. May 12

    36 - Unlocking How Banks Assess Casual & Contract Income

    Casual and contract workers make up more than a quarter of the Australian workforce. If you're a casual or contract worker, there are absolutely ways to borrow. It just comes down to understanding how banks look at your income and making sure you're with the right lender for your situation. In this episode, Jack Elliott and Chris Bates break down how banks assess casual and contract income. We talk through what lenders are actually looking for, why the same weekly pay can mean very different borrowing capacity at different lenders, and how you can protect yourself financially once you take on a mortgage. We also share a real example where choosing the right lender added $35,000 in borrowing capacity just by using a different annualisation method, showing why lender selection matters so much for casual and contract workers. In this episode: 🔑 How banks assess casual income and what they're looking for 🔑 Why the same weekly pay can mean different borrowing capacity at different lenders 🔑 How banks assess contract income and the difference between dependent and independent contractors 🔑 How to protect yourself financially once you take on a mortgage 🔑 What casual and contract workers should be doing right now to put themselves in the strongest position Timestamps 00:00 - Casual and Contract Income Explained 03:11 - How Banks Assess Casual Income 04:48 - Strengthening Your Position as a Casual Worker 06:53 - Annualisation Differences Between Lenders 07:49 - Protecting Yourself as a Casual Borrower 09:49 - Dependent vs Independent Contractor 10:32 - Contract History, Renewals and Gaps 13:30 - Key Takeaways Unlock your Free Resources Download Your How Banks Assess Casual & Contract Income Resource Want to keep the conversation going? 👉 Join the First Home Unlocked Facebook Community 📅 Book a chat with Jack for tailored support 📱Follow Us on social media: Instagram, TikTok, Youtube firsthomeunlocked.com.au

See All (45)

About

Buying your first home is a huge milestone, but it can also feel overwhelming, confusing, and full of pressure. First Home Unlocked is here to change that, and to help you reach your first home with clarity and confidence. Hosted by Jack Elliott, National First Home Buyer Specialist at Alcove, and Chris Bates, one of Australia’s top-ranked mortgage brokers, this podcast simplifies the home buying journey and empowers you with the keys to unlock your first home. Each episode is practical, clear, and designed specifically for first home buyers. From understanding the buying process to choosing a property that fits your long-term vision, Jack and Chris will guide you through every step with real conversations and expert support. You’re not in this alone. Hit subscribe and let’s unlock your first home together.

Information

  • Creator
    Jack Elliott
  • Years Active
    2025 - 2026
  • Episodes
    45
  • Rating
    Clean
  • Copyright
    © Copyright 2026 Jack Elliott
  • Show Website
    First Home Unlocked