PHOTO: 21-year-old Madeline Abboud is on her way to being mortgage free at the age of 30 after buying her first home last year. Picture: Rob Leeson Source: News Limited
Madeline Abboud is looking forward to the walk-in wardrobe — but her bigger vision is paying it off by 30.
Buying your first home can be a steep learning curve.
So we asked a couple of young Melburnians who have recently taken the plunge to shed light on how they got themselves ready to buy, figured out a buying budget, and found and secured their properties, to help others keen to follow in their footsteps.
Madeline Abboud was always determined to buy her first home young.
But even she was shocked when she signed a contract for an off-the-plan townhouse in Tarneit in September, aged just 21.
“At first I couldn’t believe I had bought my own house, it just didn’t feel real. I thought it was all a dream,” she said.
Ms Abboud now plans to tick off another major housing milestone well ahead of most of her peers: paying off her mortgage by age 30.
“I’ve put my head down now and in a few years time, I won’t have to worry about a mortgage so I can enjoy my life a bit more when I’m older,” Ms Abboud said.
“I’m aiming to have it paid off by 30. But I’m also looking forward to having a walk-in wardrobe; I’ve always wanted one.”
Working as a purchasing officer for hospital equipment allowed Ms Abboud to rapidly save a deposit. But she credits her dedicated approach to saving and a supportive family for getting her on her way to the four-bedroom townhouse in the Newgate estate.
While her single-parent mum wasn’t able to help with extra cash, she hasn’t charged rent or asked for money to help with household bills.
READ MORE VIA NEWS.COM.AU
