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First property: Why the 20% deposit myth could cost you millions

30 JUN 2025 • By Robyn Tongol • 1 min read • First Property Buyer
In this episode of the First Property Buyer Show, host Emilie Lauer sits down with KHI head buyer’s agent and Australia’s former top mortgage broker, Ross Le Quesne, to discuss finances and long-term wealth-building strategies.
ross le quesne spi srdqti

The episode begins with Ross sharing insights from his journey, having purchased his first home in the early 2000s for $315,000, which would be worth over $1 million today, illustrating the growing challenges that first-time buyers face.

He stresses the importance of focusing on future goals rather than emotional attachments to properties, cautioning against becoming accidental investors.

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Ross also debunks the myth that a 20 per cent deposit is necessary, highlighting options like family guarantor loans and lender’s mortgage insurance to help buyers enter the market sooner.

He emphasises consulting a mortgage broker early for financial guidance beyond loans and warns against off-the-plan properties, urging buyers to choose assets that support long-term wealth creation.

 
 

Ultimately, Ross encourages buyers to act promptly, as property remains a powerful wealth-building tool despite current market challenges.

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Deposit
A deposit is a portion of funds used as security for a lease or the purchase of goods and services or funds transfer to another account.
Property
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.
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