The Perfect vs. The Possible: Navigating Compromise in the Sydney Property Market
For many first-home buyers in Sydney, the dream of finding the one — the perfect property — often collides with the reality of budgets, rising costs, and fierce competition.
More often than not, buyers don’t walk away thinking, “This is perfect, I want it.” Instead, it’s, “It’s not 100%, but I could see it working.”
The truth? No property is flawless. Even the so-called “perfect” home comes with trade-offs — price, location, size, condition, or future development risks. The key is learning to navigate the space in between ideal and achievable, and building confidence that the decision you’re making is informed and right for you.
This article will help you do just that. Below you’ll find:
The right questions to ask agents so no red flags slip by.
The due diligence steps you should never skip.
A downloadable 82-point checklist to guide your inspections and decisions.
Smart Questions to Ask the Selling Agent
Agents in NSW are bound by the principle of material fact disclosure under consumer law. This means they must disclose anything that could affect your decision to buy — but only if directly asked. Framing your questions formally ensures you get complete and professional answers.
General Questions
“Are there any known defects, issues, or material facts about this property that a buyer should be aware of?”
“Has there been any dispute with neighbours, council, or the owners’ corporation?”
“Have there been any recent repairs or structural issues I should know about?”
Strata (for units, townhouses, apartments)
“What are the current strata levies, and are there any special levies planned?”
“Can I view the latest strata report and AGM minutes?”
“Are there any legal proceedings, building defects, or disputes within the owners’ corporation?”
Council & Development
“Are there any development applications (DAs) lodged nearby that could affect this property?”
“Is this property subject to any flood zones, bushfire risks, or heritage restrictions?”
“Has council ever raised compliance issues with this property?”
Rental/Investment Considerations
“What is the estimated rental return, and have there been any long vacancy periods?”
“Has the property ever been leased, and if so, at what rent?”
These questions don’t just tick boxes — they help uncover hidden risks that could cost you thousands later.
Due Diligence Beyond the Agent
While agents are a key source of information, never rely solely on what they say. Independent checks are essential.
Strata Report: Consider commissioning your own if buying into a strata property. Reports provided by the vendor may not highlight everything.
Building & Pest Inspection: A must-have for any house purchases. Structural issues, termite damage, or water leaks can be extremely costly.
DA Search: Check local council records for approved or pending developments. A new high-rise next door could change your street permanently.
Comparable Sales: Look at what similar properties nearby have sold for in the last 6–12 months. This arms you with evidence for negotiations.
Zoning and Planning Certificates: These reveal land use restrictions, easements, or council conditions affecting future renovations.
Flood, Bushfire, and Heritage Overlays: Confirm risks with council or NSW Planning Portal — insurance costs and compliance can be significant.
Finance Readiness: Speak to your broker (that’s us!) before making offers. Pre-approval helps you move fast in a competitive market.
Your Property Buyer’s Checklist (Downloadable)
It’s one thing to read through tips, but another to have a practical tool in your hands when you’re out at inspections. That’s why we’ve created a comprehensive 82-point First Home Buyer’s Checklist.
This checklist covers everything from lifestyle considerations and location, to structural red flags, strata health, legal compliance, and even those final “gut check” reflections. It’s designed to help you:
Stay objective when emotions are high during inspections.
Catch issues early that could become costly later.
Walk away knowing you’ve asked the right questions of yourself — and of the selling agent.
Download the 82-Point Property Checklist (Excel)
Save it to your phone, or print it out and take it with you to open homes. Use it as your personal guide to making an informed, confident decision.
Final Thoughts
Buying your first home will never be a perfectly smooth process. Every property comes with compromises. The goal isn’t perfection — it’s confidence. By asking the right questions, doing your own due diligence, and working through a structured checklist, you’ll give yourself the best chance of buying a home that’s not just “possible,” but truly right for you.
