First-time buyer reveals how she saved £50,000 in less than two years to buy her first home at 25
manchestereveningnews.co.ukWith house prices rising rapidly in recent years, many young people have been in troubled waters when it comes to getting a foot on the property ladder.
The average house price in the UK now at an all-time high of £368,614, meaning more and more first-time buyers are having to wait longer to save up and purchase their first home.
According to a recent study, the average age that Brits purchase their first home is now 28. But one young woman has proved that this can be done much sooner after buying her first property aged 25.
Hilary Iyoha bought a three-bedroom house earlier this year thanks to her savvy saving techniques, which helped to save £50,000 for a deposit in less than two years. READ MORE: Inside the cheapest house you can buy in Greater Manchester that could be yours for just £15,000 Hilary, who works as an investment banking analyst, is now sharing her money-saving tips in the hopes to help other first-time buyers get on the property ladder. “I’ve always been financially savvy,” Hilary said. “I used to be that kid who would save up my weekly £10 lunch money at school if I wanted to buy something.I’ve always recognised the value of money but understanding how to use it and make it work for you is the real tea.” The savvy businesswoman lived with her family whilst saving, meaning she didn't have rent or any household bills to pay.
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