Buying your first home might seem out of reach, but with the right approach, it’s more doable than you think. Here’s how I did it—and how you can too.
Owning a home at 20? Sounds crazy, right? I used to think so too. But while most of my mates were figuring out their next steps after high school, I was signing mortgage papers.
This isn’t some overnight success story—it’s about understanding how money works and making smart decisions early on. If I could do it, so can you. Let me walk you through how I made it happen and share some tips that might help you get there too.
Starting Early: The Power of Financial Discipline
Getting My Foot in the Door
I graduated high school just before turning 17, which gave me a bit of a head start. So at a young age while my friends were going to Uni, I landed a full-time job as a bank teller at ANZ.
Getting paid full adult wages at 16-17 was great, but more importantly, it gave me a front-row seat to how money really works. I saw how people managed (or mismanaged) their finances, and I quickly realised that understanding money was the key to financial freedom. That’s when I got serious about saving, investing, and learning how to make my money work for me.
Building Healthy Financial Habits
From a young age, I focused on:
Saving consistently: Setting aside a portion of every pay check.
Investing smartly: Putting money into shares and even dabbling in cryptocurrency.
Understanding the system: Learning how the financial system works and how to use it to my advantage.
These habits laid the foundation for everything that came next.
Teaming Up: How My Wife and I Combined Forces
Finding a Partner with the Same Vision
When I met my wife, we both had some savings tucked away, but we weren’t exactly in the same boat. She had been working hard and saving, just like I had, and while we were fortunate to have some family support, we also made the most of what we had. Together, we managed to save around $30,000 to $40,000.
It wasn’t all luck—there was a lot of hard work and careful planning behind it. That combination of effort and a bit of help put us in a position to take the next big step: buying our first home.
Navigating the Home Buying Process at 20
Getting Pre-Approved and Finding Our First Home
We knew we didn’t need a massive deposit to get started. After speaking with a mortgage broker, we were pre-approved for around $300,000. It wasn’t a huge amount, but it was enough to get us into the market.
We found a townhouse in Lawnton, Northern Brisbane, for $285,000. It wasn’t our dream home, but it was a solid start. We knew that getting into the market was more important than waiting for the perfect property.
Leveraging Support: The Role of a Guarantor
Here’s where we got a bit of help. My father-in-law agreed to act as a guarantor, which allowed us to reduce our deposit and secure better loan terms. Instead of putting all our savings into the deposit, we only needed to contribute a small portion upfront.
Pro Tip: If you’re a first-time buyer today, you might not even need a guarantor.
The First Home Loan Deposit Scheme allows you to buy with as little as a 5% deposit, with the government acting as your guarantor which wasn't around when we bought our place. So now anyone can do this too.
Turning Our First Home into an Investment
Adding Value Through Renovations
Once we had the keys, we didn’t just sit back and relax. We saw our home as an investment, and we knew that with a bit of work, we could increase its value. Over the next year, we:
Replaced the flooring
Updated the lighting and fans
Painted the walls
Made small but impactful improvements
These weren’t massive renovations, but they made a big difference. For example, we spent about $5,000 on new flooring, which likely increased the value of our home by $10,000 to $15,000.
That’s a return on investment you just can’t get in the stock market.
Selling for a Profit & Buying our Dream Home
A little over a year later, we sold that townhouse for $459,000—nearly double what we paid for it. That profit gave us the financial flexibility to upgrade to a larger home in Caboolture, a four-bedroom house with no body corporate fees and more potential for growth.
The Key Lessons I Learned Along the Way
1. Your First Home Doesn’t Have to Be Your Dream Home
Your first property is a stepping stone. It doesn’t need to be perfect—it just needs to get you into the market. Once you’re in, you can build equity and move up from there.
2. Time in the Market Beats Timing the Market
Don’t wait for the “perfect” time to buy. The longer you wait, the more likely you are to be priced out as property values rise. Getting in early allows you to ride the wave of market growth.
3. Renovations Are a Powerful Investment Tool
Small improvements can significantly increase your home’s value. Whether it’s new flooring, fresh paint, or updated fixtures, these changes can give you a high return on investment.
4. You Don’t Need a Huge Deposit
With schemes like the First Home Loan Deposit Scheme, you can buy with as little as a 5% deposit. Don’t let the myth of needing a 20% deposit hold you back.
Ready to Take Your First Step?
Look, I know my story isn’t typical. I had some advantages—graduating early, landing a bank job young, getting married young and having a guarantor. But here’s the thing: there are always opportunities if you know where to look.
The property market isn’t going to wait for you to feel “ready.” While you’re saving for that perfect deposit, house prices are climbing. Sometimes, the best move is to start small, get creative, and just get started.
Want to know if you’re ready to buy your first home? Let’s chat. Book a free strategy session with me, and we’ll take a look at your situation together—no fluff, just honest advice about what’s possible for you.
At Raynor Lending Solutions, we’re in your corner every step of the way. Whether you’re just starting to save or ready to explore your buying options, we’re here to help you make informed decisions with confidence.
Final Thoughts
Buying your first home might seem like a distant dream, but with the right mindset and support, it’s more achievable than you think. My journey wasn’t easy, but it was worth it—and I’m here to help you navigate yours.
Let’s make it happen—In your Corner, Every Step of the Way.
Curious about your options? Book a free strategy session with us today. We’ll give you the straight talk on what’s possible and how to get there.
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