Expert Guidance from Lewin Real Estate, Cheltenham & Bayside
Buying your first home is an exciting milestone — but it can also be daunting. With so many moving parts — finance, inspections, contracts, and competition — even small mistakes can cost you time, money, or your dream home.
At Lewin Real Estate, we’ve guided hundreds of first home buyers through the process, helping them avoid the common pitfalls and make confident, informed decisions.
Here’s what to watch out for — and how we can help you every step of the way.
1. Searching Before You’re Financially Ready
Many first home buyers start attending open homes or auctions before securing home loan pre-approval — and it’s one of the easiest traps to fall into.
Without knowing your borrowing power, you risk falling in love with properties outside your budget, missing opportunities, or overextending yourself financially.
What to do instead:
- Meet with your bank or mortgage broker early to understand your true borrowing capacity.
- Get pre-approval before you begin house hunting — it shows sellers you’re serious and ready to act.
- Review your financial position regularly, as borrowing limits and interest rates can shift over time.
At Lewin Real Estate, we view this as the foundation for a successful purchase.
Our team works closely with trusted local brokers and finance specialists who understand the Bayside market and the needs of first home buyers.
We’ll help you connect with the right professionals, understand your full budget — including stamp duty and ongoing costs — and position you to act quickly and confidently when the perfect home appears.
2. Overlooking Additional Costs
Your deposit isn’t the only financial commitment when buying a home.
Many first home buyers underestimate the hidden costs — such as conveyancing, building inspections, insurance, moving expenses, and potential maintenance.
What to do instead:
- Build a clear budget that includes every expected cost.
- Allow a buffer for unexpected expenses after settlement.
- Speak with your agent and conveyancer to confirm any local fees or council charges.
At Lewin Real Estate, we help you understand the true cost of buying, so you can make decisions with confidence — not surprises. We’ve seen first-hand how proper planning can turn what feels overwhelming into a smooth, stress-free experience.
3. Skipping Building and Pest Inspections
Some buyers skip professional inspections to save time or money, but this is a mistake that can lead to costly repairs later. Even homes that look immaculate can hide structural or pest issues.
What to do instead:
- Always arrange a building and pest inspection before finalising your offer or auction bid.
- Use reputable inspectors who provide detailed reports and explain findings clearly.
At Lewin Real Estate, we can recommend trusted local inspectors who give transparent, easy-to-understand advice — helping you make an informed decision with peace of mind.
4. Letting Emotions Take Over
Buying a home is personal and emotional — especially your first. But emotion-driven decisions often lead to overpaying, rushing into contracts, or ignoring important details.
What to do instead:
- Keep your must-have list in mind.
- Take a step back when competition heats up.
- Rely on your agent’s guidance to stay focused on value and long-term goals.
Our experienced team at Lewin Real Estate helps buyers stay balanced during negotiations and auctions. We’ll provide honest feedback, realistic appraisals, and the calm guidance you need when emotions run high.
5. Ignoring Government Incentives
Many buyers aren’t aware of the significant help available through government home ownership schemes — support that can make entering the market much easier.
As of 1 October 2025, any first home buyer who has saved a 5% deposit can now purchase under the First Home Guarantee, with no limit on the number of government guarantees available. Buyers can also avoid paying Lenders Mortgage Insurance (LMI) — saving thousands and reducing the time needed to reach their goal of home ownership.
Adding to the good news, the Property Price Cap in Victoria has increased from $800,000 to $950,000, giving first home buyers greater flexibility and access to more homes — particularly in sought-after Bayside suburbs like Cheltenham, Beaumaris, Moorabbin, Highett, and Parkdale.
If you’re unsure what you qualify for, the Victorian Government provides detailed information about these initiatives, including the Opening Doors program, at www.vic.gov.au/openingdoors.
At Lewin Real Estate, we actively help buyers understand their eligibility for these schemes, connect with experienced mortgage brokers who can guide them through the application process, and find the best opportunities that align with their goals and budget.
Our team believes knowledge is power — and we’re here to make sure first home buyers take full advantage of every opportunity available to them.
6. Choosing the Wrong Agent When Selling to Buy
If you’re selling one property to buy another, choosing the right agent can make or break your success. A rushed or poorly planned campaign can leave you without enough time — or money — to secure your next home.
What to do instead:
- Choose an agent who understands both your selling and buying timelines.
- Look for transparent communication and local expertise.
- Focus on strategy, not speed — the goal is the right buyer, not just the first one.
At Lewin Real Estate, our approach is personal, patient, and strategic. The team at Lewin Real Estate will take time to understand your goals, plan your campaign, and ensure you transition smoothly from one home to the next — without unnecessary stress.
7. Not Thinking Long-Term
Your first home should meet your needs today — but also fit your future. Many buyers focus on short-term wants and overlook resale value, growth potential, and lifestyle changes.
What to do instead:
- Think ahead 5–10 years.
- Consider proximity to schools, transport, and local amenities.
- Look at market trends and suburb growth potential.
At Lewin Real Estate, we provide data-backed insights and local knowledge so you can buy not just a home, but a smart long-term investment.
8. Trying to Navigate It All Alone
The home-buying process involves multiple moving parts — finance, contracts, inspections, and negotiations. It’s easy to get overwhelmed or miss crucial details when you’re doing it on your own.
What to do instead:
- Build a trusted team: agent, broker, conveyancer, and inspector.
- Don’t be afraid to ask questions — there are no silly ones.
- Seek guidance from professionals who know the process inside out.
At Lewin Real Estate, we pride ourselves on walking first home buyers through every stage — from understanding the market and finding the right property, to guiding you through pre-approval, contracts, and settlement.
We’ll connect you with trusted local professionals, keep you informed at every step, and ensure you feel supported — not pressured — throughout the process. Buying your first home is a big moment, and with the Lewin Real Estate team by your side, you’ll never have to do it alone.
Final Thoughts
Your first home should be a milestone to celebrate — not a stressful experience.
With preparation, knowledge, and the right team, you can avoid costly mistakes and move into your new home with confidence.
At Lewin Real Estate, we’re passionate about helping first home buyers across Cheltenham, Beaumaris, Parkdale, Highett, and Bayside start their property journey the right way.
📞 Contact the Lewin Real Estate office on 8524 4307 for personalised advice and step-by-step guidance.
Let’s make your first home purchase a success story you’ll remember for all the right reasons.