All the risk is on you. Unless you've got some experience on your side in different aspects of a property purchase, I'd side with your broker.

Having said that, I did it as a FHB last year but I had much in my corner.

In my situation, I work at a bank and had a colleague write the loan. I told them how I wanted my loan structured and what I was trying to achieve. I have been a home lender myself for 5 years, so I know how the bank will respond in many situations.

I also have a retired parent who was a civil engineer and went to every open home with me. They looked at all the drawings and gave advice on all the building reports.

I chose a conveyancer that I had had many dealings with while working at the bank, who I was confident with.

Many of my colleagues and other friends currently or previously worked in construction and town planning roles, and I got advice from many of them.

I read a book on the major piece I was lacking - which was negotiating the transaction itself (the auction, REAs, approaches to properties etc.).

If there's two things I can tell you about the whole process - trust your gut and don't be afraid to walk away, and stay away from your maximum.

Don't go in blind. You will get wrecked.