A young Queenslander shared how she spent years making huge sacrifices to help save for a home deposit, including avoiding expensive nights out. In fact, at 24 years old, she’s only been to a bar twice in her life.
And her hard work paid off in May when Peta Fox was handed the keys to her Riverhills home, in Brisbane’s South West.
The property was around the $600,000 mark and required her to pay a 25% deposit of $150,000 and Ms. Fox split the 20yr mortgage with her partner.
And her journey has not been an easy one.
Ms. Fox said she’s been to a bar twice in her life, and as she doesn’t drink alcohol, it’s quite easy to say no. Going out to dinner 5 times a year, with $20 meals and even skimping on holidays.
She often copped criticism for how frugal she was, but it was that habit and determination to buy her own home, that helped her get to where she is today.
And look, not every property is going to ask you for a 25% deposit, so don’t let that deter you. There are plenty of property you can buy for 10% – 12%, it’s all where you look and who guides you along the way.
Our goal is to help as many people as possible, create a future of financial freedom for themselves and their loved ones so get in contact on 1300 522 562 or email team@jrprosperity.com.au
When considering an investment property with positive cashflow, it is important to make sure it is suitable to your specific financial goals and objectives. Remember to do you due diligence and is you need advice; JR Prosperity Partners can help you decide if this is the best strategy for you.
