3. What are things you wished you knew before you purchased your first property?

What are things you wished you knew before you purchased your first property?

This post couldn't be anymore timely as I'm currently in the market to purchase my first property. Any advice you can share with me about my current situation is greatly appreciated:

Background:
+ 29 years old
+ Live in Melbourne
+ Married
+ Soon to be a father (baby due in July )
Financial situation:
+ Debts: $0
+ Superannuation: I am currently maxing out my super + my wife is salary sacrificing (% unknown)
+ Savings: $95,000+ (collectively with my wife)
+ Net Salary: $6,875 per month (individual) or $12,187 per month (combined)
+ Parents are also willing to be guarantors to avoid LMI

My question:
Should we look to buy in an affluent area ($800k - $900k home) and be within a 20 min drive of family & friends or move 45mins away and afford a home in a new estate area and pay between $500k - $600k for a 3-4 bedroom home (+ live comfortably on one/two wages)

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