931b wwgd: Tanu has his deposit ready and wants to know if now is a good time to buy property

**Glen James** (0:06)
Today on the show, we are doing a What Would Glen Do? And this is very timely because we have just released our latest book, The Quick-Start Guide to Your First Home. And if you are a first home buyer, you might learn from this about maybe some ways to think, maybe some strategy. You might also think about if you already have a home and you wanted to buy your first investment property, what to do and what to look for in that regard. So this What Would Glen Do is brought to you by the Quick-Start Guide to Your First Property. If you are new to our series, What Would Glen Do? Listeners of the Money Money Money Show or in the Facebook group, they write in, give me a bit of a sense of what they want to ask me. We jump on, I will spend some time having a very kind of clinical chat at the start, just getting data because I just want to get data. Then we might clarify a few things and then we will have a look and what, and then I'll kind of let people know what I would do in their situation. It's important to note that it is what Glen would do. And if I say something that either our guest doesn't want to do or doesn't end up doing, that's fine. If you're watching on YouTube and you're outraged and you're in the comments going, I would have done that. Awesome. That's what you would have done. So I just need to get that out there.
I might be wrong, might be right. Who knows? We're going to have some fun. My name is Glen James and you're listening to What Would Glen Do?
And we're going to get into it right now.
Before we get into it, this show is general advice only. I've got a license to provide that advice. Full details can be found in the show description. My name is Glen James, former Financial Advisor. I host this show and a show called Retire Right. I've got some books, the award-winning Quick-Start Guide to Investing and the Quick-Start Guide to Your First Property available where good books are sold or in the description. If you're new here, welcome. If you're in old hand, welcome to M3. Let's get into it right now.
Okay, batter up. We have Tinu today. Tinu, welcome to the show.

**Tanu** (2:24)
Hello, Glen. Thanks for having me.

**Glen James** (2:27)
My pleasure. Now Tinu, you are in Perth and you have come to our live events in the past.

**Tanu** (2:32)
Yes.

**Glen James** (2:33)
I reckon in my server, NAS Dropbox or whatever, there's probably a photo of us somewhere.

**Tanu** (2:42)
Maybe. Not sure, but maybe, I would say, yeah.

**Glen James** (2:47)
Yeah.
If there is, I'll have a look at our Perth events. We'll put it up right now if there's not, I didn't look or can't find it. But hey, thanks for jumping on the show today. You're a regular listener of the show and in our community and all that stuff. What would you like to ask me today?

**Tanu** (3:05)
So yeah, so what would I want to ask is like probably what do you think I should do as in my plans as a first home buyer? So now with my really with my borrowing capacity and borrowing power plus deposit and stuff, getting a house in the Perth market seems a bit on stretch at the moment. So I'm really looking into an apartment instead of like a house or a land and build package.
And then currently based in WAs and then potentially, who knows, I might move states in the next three to four years, depending on personal situations. But then really, I pretty much had enough of renting and then still wanting to get a first home in WA.

**Glen James** (3:58)
Yeah. So just so I'm very clear, we'd like to buy your first home, borrowing power, servicing might be a bit of a stretch to get an actual house or maybe a townhouse. So you might be looking at an actual apartment instead as a first home and you may move into state at some stage, you're not sure and you're sick of renting.

**Tanu** (4:19)
Pretty much, in a nutshell, yes.

**Glen James** (4:22)
Awesome. In a nutshell, that's what we want. All right, let's go through it. How old are you?

**Tanu** (4:27)
30, 31

**Glen James** (4:30)
Awesome. And what do you do for work?

**Tanu** (4:32)
I'm an accountant.

**Glen James** (4:36)
What type of accounting do you do? Are you tax accountant, company accountant, production accountant? I don't know.