House prices: Gold Coast woman reveals how she bought a house at 23

A Gold Coast woman has revealed the smart decision she made five years ago that saw her buy her first home at just 23.

A Gold Coast woman has revealed the smart decision she made five years ago that saw her buy her first home at just 23.

Maddie Walton, a medical researcher, bought her first property in July for $ 690,000, a 10% down payment of $ 70,000, plus $ 50,000 in additional fees.

By working two jobs to save money faster, Maddie told the Daily mail she dreamed of buying her first home since the age of 15, but “couldn’t believe” the brutal reality of the Australian real estate market.

“Real estate agents didn’t take me seriously in the open houses I went to and because of Covid-19 only small groups could enter the property at the time – it was a nightmare,” he said. she said, adding that the struggle had led her to seek help from a buyer’s agent.

In addition to having two sources of income, Maddie has also been investing in the stock market since the age of 18.

“I was pretty sheltered from conversations about money and didn’t know much at all. I didn’t know what investing was until I was 18 and asked my dad after hearing about the Dow Jones Industry Average on the news every night, ”she said.

“He told me I could invest in businesses to grow my savings … Since then I have automated $ 50 a week in my savings account to automatically invest $ 2,000 at a time in Apple (five years and not anymore). ”

Last year, she started branching out, investing in other tech companies and exchange-traded funds (EFTs), and using finance books, podcasts, and community groups to learn more about it. ‘investment.

The 23-year-old now has $ 60,000 in the stock market, and her net worth since she started investing, less liabilities, is $ 147,000.

“My current investment strategy is to have broad based ETFs like most of my portfolio, and a few sector specific ETFs,” she said.

“I leave five percent of my portfolio to individual companies and crypto investments.

“I have this strategy, so my portfolio is diversified, low cost and with unfavorable exposure to risk in the equity market. I can still invest in specific sectors that are riskier, but those in which I believe. ”

She added that a huge “learning curve” was too heavily invested in the Australian stock market, explaining that “by investing primarily in Australia, I was missing heaps of value in the United States, Asia and Europe” .

“International investment is so important to Australians. We most likely use an Apple iPhone to search the internet through Google, buy things from Amazon with your MasterCard and watch Netflix at night, ”she said.

And it pays off – with the help of her buying agent, Maddie was able to buy her first property, a three-bedroom house on 800 square meters of land, with her supply surpassing those of 15 others.

“I was so nervous when I finally made an offer,” she said.

“My buying agent sent me loads of videos and photos, and I immediately fell in love with them even though I haven’t seen them in person. I had a good intuition and a good intuition about it.

When she found out she had secured the house, Maddie said she was so relieved that she started to cry.

She added that her main goal now – in addition to renovating her home – is to work toward financial freedom and have the money to maintain a good lifestyle before she retires.

As for her advice to other first-time home buyers, she suggested using available government grants, having a budget in place, and being realistic about your spending and saving habits.

About Christopher Easley

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