How a 24-year-old nurse bought a three-bedroom property for $350,000 by saving for just ONE year

A financially savvy nurse has revealed how she managed to buy a $350,000 three-bedroom townhouse when she was only 22.

Natalie Boucher, from Brisbane, cut out pricey travel, lunches with friends and worked multiple jobs to get a leg up the property market on a single income.

‘I am by no means a financial advisor and I had very little idea of what I was doing when I bought my place,’ Natalie, now 24, explained to FEMAIL. 

‘But I have learned a lot throughout the process and I know that you can do it. There is always a way to make it work.’

 

A 24-year-old nurse (pictured) has revealed how she bought her own three-bedroom townhouse at age 22 for $350,000

Natalie Boucher (pictured), from Brisbane, cut out pricey travel, lunches with friends and worked multiple jobs in order to get a leg up the property market on a single income

Natalie Boucher (pictured), from Brisbane, cut out pricey travel, lunches with friends and worked multiple jobs in order to get a leg up the property market on a single income

'I am by no means a financial advisor and I had very little idea of what I was doing when I bought my place,' Natalie explained to FEMAIL

But she said she has learned a lot (pictured: the interior of her home)

‘I am by no means a financial advisor and I had very little idea of what I was doing when I bought my place,’ Natalie explained to FEMAIL – but she said she has learned a lot (pictured: the interior of her home)

So how did Natalie save the money in just one year to secure a $350,000 property?

‘This might sound obvious, but I cannot stress enough how important it is to work your bum off,’ Natalie said in a YouTube video on the subject. 

‘I started working when I was 14 years old, I worked all the way through high school. I worked in kitchens, I worked in bars, I worked in retail. I did everything, but I always had a job.’ 

The first thing Natalie (pictured) did to save the money was she worked multiple jobs and opened a separate savings account in order to keep her money there

The first thing Natalie (pictured) did to save the money was she worked multiple jobs and opened a separate savings account in order to keep her money there

The second thing she did was to learn to save her hard-earned income.

‘So while I was working, I was always putting away money into a savings account,’ she said.

Natalie, who lived at home at the time, used the example of making $1,000 a fortnight but ensuring $700 was put into savings with the remaining $300 ‘for expenses and going out with friends’.

‘You do need a life balance, but you also need to know you’re putting away enough to save,’ she said.

‘It’s also a good idea to have a separate account for your savings, so you’re not tempted to just go out and spend it.’

Natalie lived at her parents' home for as long as possible, which enabled her to save sometimes even more than 50 per cent of her income (pictured: the interior of her new home)

Natalie lived at her parents’ home for as long as possible, which enabled her to save sometimes even more than 50 per cent of her income (pictured: the interior of her new home)

Natalie said she had to sacrifice plenty of little luxuries during her mission to save.

What are Natalie’s tips for first-time home buyers? 

* Limit unnecessary spending – cut lunches out, travel, time spent out with friends, foreign holidays and new clothes. 

* Live at home for as long as possible.

* Open a separate savings account and try to save at least 50 per cent of what you earn.

* Make sacrifices as this is what leads to rewards. 

* Set yourself regular goals to tick off and reach and celebrate small milestones.

* Have a clear idea of what you want in your head, but also be willing to compromise.

* Consult a professional who knows more about saving for your goal than you. 

‘Saving isn’t easy,’ she said. ‘I let my friends all know when I was getting serious about buying a house, as you have to sacrifice.’

This meant not travelling as much, fewer foreign holidays, less time spent out with her friends and less of a budget for new clothes.

‘But I had a main goal,’ Natalie said. ‘I had to sacrifice a lot of my social life, but I knew that money I was saving was going towards my house.’

The fourth strategy that enabled Natalie to save more money was living at home for as long as she could.

‘I know that’s not an option for everyone, but I’ve always lived at home,’ she said.

‘I’ve never lived out and rented, even while I was at uni.’

Natalie said her parents encouraged her to stay at home for as long as possible, so she could ‘save save save’.

‘It makes such a difference as you don’t need to pay rent and for as much food,’ she said.

Elsewhere, the savvy 24-year-old (pictured: the interior of her home) swore by setting herself regular goals and knowing exactly what she wanted

Elsewhere, the savvy 24-year-old (pictured: the interior of her home) swore by setting herself regular goals and knowing exactly what she wanted

'I knew I wanted a little yard so an apartment wasn't an option. I also wanted at least three bedrooms, but it's important to prioritise what's important for you,' she said (pictured: the interior)

‘I knew I wanted a little yard so an apartment wasn’t an option. I also wanted at least three bedrooms, but it’s important to prioritise what’s important for you,’ she said (pictured: the interior)

Elsewhere, the savvy 24-year-old swore by setting herself regular goals and knowing exactly what she wanted.

‘For me, I knew I wanted a little yard so an apartment wasn’t an option. I also wanted at least three bedrooms, but it’s important to prioritise what’s important for you,’ Natalie said.

She also said speaking to a professional – such as a financial planner or a mortgage broker – was key, as well as being prepared to compromise as you won’t always get exactly what you want. 

‘I thought my budget was around $500,000 but I spoke to my mortgage broker and they told me what I could actually afford,’ Natalie said.

Natalie (pictured with her partner) also said that speaking to a professional, whether that be a financial planner or a mortgage broker, and be prepared to compromise

Natalie (pictured with her partner) also said that speaking to a professional, whether that be a financial planner or a mortgage broker, and be prepared to compromise

Lastly, she said you should never buy the first home you see, as tempting as it might be (pictured: the exterior of her home before she started renovations)

Lastly, she said you should never buy the first home you see, as tempting as it might be (pictured: the exterior of her home before she started renovations)

Natalie said you don't need to be rich to buy your first home

All you need to do is work hard and sacrifice your everyday spending, so you can get what you want

Natalie said you don’t need to be rich to buy your first home – all you need to do is work hard and sacrifice your everyday spending, so you can get what you want (pictured: the interior of her home)

Natalia also warned that you should never buy the first home you see, as tempting as it might be.

‘Buying a house is emotional,’ Natalie said. ‘There were nights where I bawled my eyes out over something.

‘But there are so many houses on the market and there always will be. Be careful with what you’re looking for and don’t get caught up in the moment.

‘But you can buy your first home and you don’t need to be rich to do so. All you need to do is work hard and sacrifice your everyday spending, so you can get what you want.’

To find out more about Natalie Boucher, you can follow her on Instagram here



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