As soon as I got my first job and started to earn my own money, back when I was just 16 years old, I set myself the goal of buying my own house.
This is something I’d always dreamed of achieving, and now that I had my own money coming in, the possibility of it happening seemed tantalising real. What my naive younger self hadn’t quite realised was, working part-time at McDonald’s probably wasn’t going to make the dream become a reality any time soon…
Nevertheless, I worked there for 2 years and saved as much money as I possibly could, and in the end, I bought the house of my dreams… in cash!
In reality, I did work at Mcdonald’s for two years, and I did save as much money as I possibly could, but in the end, none of it went towards buying the dream house…
Like a lot of teenagers, I bought myself a car instead.
Maybe not the most sensible thing I could have done, but unlike many of my peers, I paid for it in cash and drove it around for the next 8 years, so maybe it wasn’t such a bad thing to do after all.
Having splashed out on my new ride, it was back to square one in the savings department, which meant buying a house was just as far away as it had been 2 years ago. It wasn’t all bad news though, because at this point I transitioned into a full-time job and was finally earning the BIG MONEY!…… £12,000 per year!
Again, hindsight is a wonderful thing. At the time it really did feel like I was earning good money when I became an apprentice engineer and compared to the money I had been earning previously, it really was good money! But as I think we all know, £12,000 per year is still not enough to buy a house, so onward I went, up the salary ladder.
Fast forward three and a half years, my salary was now at a more healthy level of £25,300, and my partner was now working too, on a salary of £17,500. Over the three and a half year period, as we were both living at home with our parents, we were able to save A LOT of our income. So, by the end of 2015, we had both saved our goal of £20,000 each, meaning we had a £40,000 deposit for our first house together.
Now we were getting somewhere!
The search for our first house started in January of 2016 and ended just as swiftly as it began. After just 2 weeks of searching, we had found ourselves an idyllic new build development that had just what we wanted, a three-bed, semi-detached house for £174,000, under our budget of £200,000. We chose the plot we wanted off the site plans, paid a £500 deposit and sealed the deal!
Throughout the years of saving, whenever I transferred some more money into my savings account, I always used to say to myself ‘That’s another few bricks for the house’, but I never imagined that I’d be able to watch that house being built. But, over the next few months, we did have the pleasure of watching our house being built. It felt incredible to watch the foundations being laid, and then each layer of bricks as they slowly made their way up to the roof.
‘We got to watch our house being built’ is not something everyone is able to say, so we made sure that we made the most of the experience by visiting the site as much as we could. Below are a few shots from our visits.
The above photo was taken on one of the early visits to the site. Our house is the one on the right-hand side.
Not too long after we had a roof put on!
And it wasn’t too much longer after that when the windows went in.
Finally, the day came where all the paperwork was completed. The deposits were all transferred, along with all the fee’s that seem to appear out of nowhere, and it was finally made official.
We were homeowners!
On July 1st 2016, the dream became a reality. We were given the keys to our first home together. It was a fantastic day and one that I will never forget. Having the keys to our own house was proof to me that all the hard work to get to this point had been worth it, and that no matter how long it takes, as long as you keep making steps towards your end goal, eventually, it will materialise.
I am writing this post almost 4 years to the day that we got the keys to our house, and it seems crazy to write that because it only feels like yesterday that we moved in.
How time flies!
Since we bought the house 4 years ago, the value of it has increased to around £200,000, meaning in 4 years we have made approx £26,000! So not only has it been a great house to live in, but it’s also been a great investment too!
We recently remortgaged the house onto a lower interest rate and fixed it for 3 years. The goal we have our eyes firmly set on now is to clear the mortgage at the end of that 3 year period, meaning we will have only had the mortgage for a total of 7 years, not bad going if you ask me!
So, in just under 3 years from now, precisely 1080 days if we want to be exact, at the age of 30 years old, we will be Mortgage Free.
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