Couple, 27, who bought Sydney home for $650,000

‘Move somewhere cheaper’: Young couple reveal the savings tips that allowed them to buy their dream home in Sydney at 27 – and the sacrifices YOU need to make now to do it too

  • Sinead Casey and fiancé Rhys moved within Sydney’s northwest this year
  • Before that they rented a $500-a-week home but couldn’t save for a mortgage
  • But they then moved back to his hometown and paid a lower $200-a-week rent
  • Sinead urged other young couples to consider moving back home to help save

A couple who halved their rent and were able to save for their first home at the age of 27 have urged other young people to do the same.  

Sinead Casey and her fiancé Rhys James moved into their newly built $650,000 three-bedroom property in the Sydney’s Box Hill this year. 

Before that, they were renting an apartment in nearby Rouse Hill and struggling to save enough for a home loan.

Young couple Sinead Casey and her fiancé Rhys James, who more than halved their rent and were able to save for their first home at the age of 27, have urged other young people to do the same (pictured outside their new home)

Speaking to FEMAIL, Sinead said being able to move in with Rhys’ mother in Kellyville – a few suburbs away from Rouse Hill – and pay a reduced rent for 18 months was their key to saving enough.

‘Trying to save a deposit and renting at the same time wasn’t realistic at the time,’ she said.

‘If it is a goal to own your own home, it is worth knuckling down, moving back home or somewhere cheaper like a shared flat to save.’

She said while it wasn’t everyone’s goal to own their own home, those who harboured the aspirations should think about cutting down on their rent immediately. 

Speaking to FEMAIL, Sinead said being able to move in with Rhys' mother in Kellyville - a few suburbs over from Rouse Hill - and pay a reduced rent was their saving grace

Speaking to FEMAIL, Sinead said being able to move in with Rhys’ mother in Kellyville – a few suburbs over from Rouse Hill – and pay a reduced rent was their saving grace

Sinead’s money-saving sacrifices 

  • Limited how much she spent on food each week
  • Caught public transport every day rather than driving to work
  • Bought a cheaper car
  • Stopped spending money on ‘wants’ and focused on ‘needs’ 
  • Moved out of their rental property and lived with mum for 18 months

Sinead added it was also a committed period of penny-pinching that helped them buy their house and land package dream home. 

She revealed their mortgage broker told them exactly how much they needed to save to afford the loan and told them to go on a trial run before signing on the dotted line.

‘He gave us a figure and it was around $3,500-a-month. We saved everywhere we could, stopped going out and bought a cheaper car,’ Sinead said. 

‘I also started catching public transport every day and set limits on food each week.’  

Sinead added it was also a committed period of penny-pinching that helped them buy their house and land package dream home

 Sinead added it was also a committed period of penny-pinching that helped them buy their house and land package dream home

Their home-owning achievement is now the talk of their friends (one pictured with Rhys) - who have they have entertained in their new home and are now eager to follow in their footsteps

Their home-owning achievement is now the talk of their friends (one pictured with Rhys) – who have they have entertained in their new home and are now eager to follow in their footsteps

Sinead admits the saving process has been made tougher by the fact they are also saving for their wedding later this year.

‘When I say things are super tight, they really are,’ she said.  

Sinead said their package provider Thrive Homes also gave them the flexibility to build their perfect home.  

Her fiancé had worked in several Thrive homes as a tradesman, Sinead said, and was satisfied with the quality of the new-build properties. 

Their home-owning achievement is the talk of their friends – who have they have entertained in their new home and are now eager to follow in their footsteps. 

But Sinead warned prospective young home buyers to research home loans thoroughly as well as the limits of a house and land deal.

Sinead cautions those who want to emulate her into fully researching the moving parts in a home loan as well as the limits of a house and land deal - as they had to do their own landscaping (pictured)

Sinead cautions those who want to emulate her into fully researching the moving parts in a home loan as well as the limits of a house and land deal – as they had to do their own landscaping (pictured)

‘There are so many hidden things you wouldn’t think of if you haven’t done the research or someone hasn’t told you,’ she said.

‘For example you have to think about how much your rates and repayments change when you start to pay your loan both in principal, not just interest.’  

Sinead and Rhys also had to do their own landscaping to give the area around their home a more personal feel.

‘Things like fly-screens don’t come with your home sometimes – and we’ve had to do our own landscaping,’ she said.

‘My advice is do as much research as you possibly can –  it will be information overload but so worth it.’

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