Paul Clark and Mikayla Tidded pulled the impossible and grinding for more than a year to break their first home in Ferntree Gully. Photo: David Caird
Discipline, sacrifice and a willingness to make a compromise were the keys to break into the Real Estate Market of Melbourne for a young couple who broke up their first home in Ferntree Gully last week.
Paul Clark, who works in removing asbestos, and partner Mikayla Tidd, who juggles at Woolworths with her role as a play therapy assistant for children with developmental disorders, bought in the outer east after a year of serious planning.
The couple deliberately moved before the extensive first house guarantee of the federal government came into force this week, the scheme with which people could buy with a deposit of 5 percent would yield the competition in the $ 700,000 to $ 800,000 bracket on which they focused.
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“We wanted to come in before the question really was,” said Mr. Clark.
“The schedule is great for people who struggle with deposits, but you can bite more later.
“We thought, move early and are disciplined.”
Like many of their generation, the couple stayed at home to save.
For Ferntree Gully, the couple chose new estates, chasing land value and family connections instead of a distant zip code. Photo: David Caird
Both praised their parents for support while storing part of each wage.
“We cut back to eat out and buy the impulse,” said Mr. Clark.
“Once we realized that we shared the same mentality, it felt feasible.”
Mrs. Tidd said their strategy was to rent the house for a few years before they moved into themselves after they get married.
“Our families encouraged us – if we save well, we can stay at home longer,” she said.
“We have opposed pressure to continue buying in new estates, Paul led my perspective on it.
First-home buyers sacrifice broken AVO, nights and back garden dreams to get a foot on the real estate market of Melbourne. Photo: David Caird
“Friends moved to Clyde North, Berwick and Pakenham to make it work, we wanted something to still be connected to our network and family, so Ferntree Gully was logical.”
Mr. Clark said they both had to resist the temptation to chase perfection.
“Our generation can have champagne taste with a beer budget,” said Clark.
“We had to remind us of potential, not just the completed look.”
Instead, they concentrated on land value and location, intended to add value with improvements over time.
“We will make improvements, no bulldoze – the budget does not extend that far,” Clark said.
Juggling with Woolworths shifts and play therapy work, Mikayla Tidded cut hard to make the first-house dream of the couple a reality. Photo: David Caird
Asked what makes life easier for buyers from the first house, Mr. Clark said that she used to say better education for young people.
“A clear list of due diligence would save a lot of pain. It is easy for inexperience to miss major problems such as foundations or defects.”
Mrs. Tidd said that even non-financial support helps.
“Just know what to look for and ignore what makes a huge difference,” she said.
Mr. Clark said that the biggest lesson in the process held at the base.
“Discipline beats hype,” said Mr. Clark.
“Buy something solid, add value and stay with the plan.”
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