Saving for your first home can be a daunting and overwhelming task. It can be hard to know where to start and how to get to where you want to be. I still remember when we were newly married and set the goal to purchase our first home. It took my complete focus - from when we created our plan, until we signed the contract for that home. It was something we really wanted, so we prioritised our finances and focused on this goal.
When we first started renovating we were complete rookies. While Caleb knew about property from his studies and beginning his career in project management, he had very limited understanding when it came to DIY or anything practical. And while I had a natural intuition with design and colour scheming, I had no idea about interior design techniques or where to source the products I liked. To sum it up - we had a youthful confidence which is probably best described as pure ignorance. Normally within a blog we would share details of our renovation to provide inspiration and advice - but this is more of an example of what not to do! Our first renovation project was our “boot camp” in renovating - and boy did we realise we weren’t “renovation fit”.
Its not everyday a 16 year old boy buys a house, but this is where our property journey started back in 2003. Still in school and with no facial hair (not much has changed there) I purchased my first property. So what can a schoolboy afford to buy in 2003? I purchased a 3 bedroom fibre cement home in the kiwifruit capital of NZ - Te Puke. Purchased for $96,000 with a 10% deposit with a rental of $180 per week. The property itself wasn’t anything special, neither was it a great bargain at the time - rather just a traditional cash-flow investment property