Man explains how he bought a three bedroom house at just 21 years old

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Aidan Murphy, 21, managed to get a mortgage for a property in Caerphilly, Wales, despite only being a recent university graduate. Aidan began a side hustle while at university doing freelance graphic design work and helped out with some websites. Despite getting on the property ladder at such a young age, he believes the older generation do not understand the barriers millennials and Generation Z face when purchasing a home.

Speaking exclusively to Express.co.uk, Aidan shared how he managed to achieve what so few young people are able to.

“I think that the older generation think that buying a house now is the same as buying a house when they were younger when it isn’t,” Mr Murphy said.

“I feel as though there is a much bigger sacrifice than what our parents and grandparents had to make.

“Between me and my girlfriend, we made some bigger sacrifices such as no holidays, limited takeaways and things like that, but we didn’t cut things out we actually use such as Netflix and Amazon Prime.

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“Back in my parents’ day, they obviously didn’t have things such as Netflix and Amazon, and the drinking and holiday culture definitely wasn’t as big back then as it is now.”

While many self-professed experts have urged younger people to ditch their streaming subscriptions and save the old-fashioned way, the 21-year old believes such thinking is no longer necessary.

For Aidan, cutting down on his expenditure did not mean having to give up on everyday pleasures.

He added: “You still want to enjoy your life, so it’s pointless cutting down on things that you need and use and things that you enjoy such as Netflix.

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“However, there are bigger things that you don’t need that you can cut down on.

“For example, we decided not to go on any holidays when borders opened and took day trips instead to places in the UK we really wanted to visit.

“This helped us cut down on hotel costs and travel costs. There are other things though such as takeaways and going to the pub which are nice to do occasionally, but too many can really take a beating on your bank.

“£20 here and there doesn’t look too bad, but if you actually analyse how much you’re spending on Just Eat per month then you might consider taking a small step back.”

When it comes to saving, Mr Murphy recommends the lifetime ISA as a crucial lifeline for those looking to make that commitment and buy their first property.

He explained: “We had a LISA (a lifetime ISA) where the Government adds 25 percent of your annual savings to the account.

“We put in £4,000 each per year, and the Government kindly bumped this to £5,000, giving us a free £1,000 each.

“The downfall to this is that you can only use it towards your first-home or your pension. Thankfully, we qualified for the first one, so we were able to use it towards our house deposit.”

However, for those looking for guidance on buying a house for the first time, the young homeowner recommends seeking out a mortgage broker to facilitate any purchase.

Mr Murphy said: “At first, I wasn’t sure whether to go directly to the bank, or used a broker, but after searching around, brokers were the ones that were getting the reviews for finding the near-impossible client’s mortgages.

“I figured with my age, and my short-employment time that I would need someone to really help me find the best deal and accept me, which my brokers did.

“They sometimes charge a small fee to help, but it’s worth it if it means you’re going to actually get accepted onto the property ladder.”



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