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AI, auctions and Afterpay: Lessons from a first-time buyer’s Sydney story
In this episode of the First Property Buyer Show, host Emilie Lauer sits down with property investor Jacob Smith to unpack the highs and hurdles of purchasing a first home in Sydney.
Jacob and his fiancée recently bought an oversized one-bedroom plus study apartment in Wolli Creek, NSW, choosing stability over rentvesting. Leveraging the First Home Buyer Scheme – with a 5 per cent deposit, stamp duty exemption, and a $10,000 family gift – the couple secured a property that felt like a two-bed, without the price tag.
The conversation dives into their bold financial strategy: repaying a 30-year loan in just 10 years by making weekly repayments and maximising offset account features.
But the journey wasn’t smooth sailing. Jacob reveals how unused credit cards and buy-now-pay-later accounts nearly derailed their borrowing power, how a lack of auction knowledge almost left them unprepared, and how a nearby high-rise development threatened property values. To stay proactive, he joined the strata committee to keep informed.
A standout theme is Jacob’s use of technology. He credits AI tools like ChatGPT with scanning lengthy strata reports to uncover risks that could have been missed. His advice to other first-time buyers is clear: clear debts early, understand loan features, and use every tool available – from helpful neighbours to cutting-edge AI – to make smart property decisions.
