24.What you earning back then? How much was the deposit?
I was earning the same as I am now, and the deposit was approx. $20,000.
What made you take the plunge at such a young age?
I wanted to have something for the future! Also, I wanted to get in now before any further rise in property prices. Another reason was that interest rates were low.
Was it difficult to save for the deposit? Was it difficult getting a mortgage because of your age?
It wasn’t difficult at all getting the mortgage. Saving took a few years and I had to watch my spending.
How has your lifestyle changed since you’ve had the mortgage, do you have to sacrifice a lot?
Yes, definitely. I live at home with my parents and I have a tenant in the unit, which covers some of the loan repayments. I also have to watch my spending, particularly on entertainment as that was a major cost. I still have a bit to spend though, but the amount of money that’s left in my bank account is quite low.
Did you ever consider investing in shares rather than property?
What’s your advice to other women thinking of investing in property in the future?
Save as much as you possibly can before purchasing. Don’t get in above your head. Plan a budget and stick to it (well, try).
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