Woman says most young people ‘don’t want to make sacrifices’ after buying first house at 22

A young woman who bought her first home at the age of twenty-two has revealed her thoughts on how young people can get themselves on the property ladder.

Georgina Carson, twenty-five, bought her first property with her fiancé in Wigan three years ago, which was on the market at the time for £82,500.

The couple put down a 5% deposit on the three-bed terraced home, which they saved through sacrificing nights out and budgeting, all while living at home with their parents.

They spent around six months modernising the home during the lockdown – costing them between £6,000 and £7,000 – before selling it for £115,000, making a profit of £32,500.

Georgina Carson / Facebook

Now onto renovating and selling their second property, Georgina told the Manchester Evening News: “Whilst saving for our first house my partner and I were both earning just over £20,000 a year, so not an extravagant wage.

“We put away savings every month and managed to save about £1,000 per month between us. When we got the keys, we moved into the house straight away and lived in it whilst we were renovating.

“We didn’t even have a bed, we just had a mattress on the floor and were living very basic.”

And, when asked about recent remarks made by TV presenter Kirstie Allsopp about young people not making enough sacrifices to buy their own homes, Georgina said she agrees.

Georgina Carson / Facebook

She said: “I think this is true, a lot of people don’t make sacrifices for what they really want. A lot of young people don’t want to make these sacrifices which, each to their own, but if you want something that much you would do what you could to get it.

“I still enjoyed myself whilst saving, I always liked to make sure I have money saved to go on weekends away or to go abroad and that’s just because I manage my money well not because I come from a wealthy background.”

Read More: Piers Morgan slams Kirstie Allsopp for ‘unbelievably stupid’ comments on first-time buyers

Georgina thinks too many young people ‘rush to move out’ at the age of eighteen, and advised living at home with parents for as long as possible.

She said: “I think young people rush to move out so young, and then use most of their wages on rent.

Georgina Carson

“For some people that might work but then you are stuck in a trap of paying rent from a young age, which then makes it harder to save for a deposit for a house.

“I think it does help to try and stay at home with parents if you can, just so you can get yourself on track and save up a bit more money instead of moving out at eighteen.”

She also advised that first-time buyers should shop around for the cheapest deals, saying:  “Shop around and go to the clearance sections in supermarkets, and go on Facebook Marketplace to buy second hand things.

“All of our doors in the house were second hand and we just painted them. Try and learn DIY on YouTube as that’s really helpful. We got a quote to get a kitchen fitted which was £3,000, but because we did it ourselves it only cost £1,000.

“The more you can do for yourself the more money you can save – and the more you can make on it.”