Business

I bought my first house at the age of 22

A woman who bought a home at the age of 22 has stated that young people do not want to make sacrifices to become homeowners.

Georgina Carson, 25, added: “If you want something, you’ll do what you can to get it.”

Georgina Carson said young people don't want to make sacrifices to buy a home

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Georgina Carson said young people don’t want to make sacrifices to buy a homeCredit: MEN Media
She said her first home in Wigan was "very basic" but she renovated it

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She said her first house in Wigan was “very basic” but she renovated itCredit: MEN Media

She made a 5% deposit on a £82,500 three-bedroom terrace house in Wigan with fiancé Freddy Quinn, 27 years old.

The two live with their parents while saving to buy their first home, but Georgina insists that’s not the main reason they might buy.

“I still pay the rent, probably not as much as I would have if I moved out,” she said.

“We’re not big drinkers so we don’t hang out every weekend and I just buy clothes for occasions or if I need them.

“We just prioritize. Young people rush out so young and then use most of their paychecks on rent.”

Georgina added: “I still like myself when it comes to saving. I always want to make sure I have money saved up for a weekend away or a foreign trip.

“It’s just because I manage my money well, not because I come from a rich family.”

The couple spent six months in lockdown modernizing their first home with DIY YouTube video tutorials, which cost up to £7,000. They then sold it for £115,000, making a profit of £32,500.

Each earns just over £20,000 a year and saves £1,000 a month between them doing various renovations.

One month they will tile, then paint the wall the next month.

Georgina said they also sleep on mattresses on the floor, have only a microwave when tearing down the kitchen, and live a very basic life.

She urges young people to live with their parents if they can or look to buy in the north to make money from there.

And she suggests cutting back on coffee or rethinking Netflix subscriptions, adding: “It won’t give you the money to buy a house but it saves money.” all that extra cash. “

Georgina's first home for £82,500

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Georgina’s first home for £82,500Credit: MEN Media
Georgina and fiance Freddy Quinn deposit 5%

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Georgina and fiance Freddy Quinn deposit 5%Credit: MEN Media
The couple remodeled the kitchen with their own hands

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The couple remodeled the kitchen with their own handsCredit: MEN Media
They also renovate the bathroom using DIY tutorials on YouTube

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They also renovate the bathroom using DIY tutorials on YouTubeCredit: MEN Media

https://www.the-sun.com/money/4724462/first-home-wigan-young-sacrifice/ I bought my first house at the age of 22

ClareFora

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