Saving for Your First Home: A Couple’s Journey to Financial Freedom

As first-time buyers, Hannah Selvaratnam and Charlie Cook know the struggles of saving for a home. The couple, both 22, managed to put down a deposit of £35,000 for their two-bedroom semi-detached bungalow in October 2022. But it wasn’t easy - they had to make sacrifices and give up nights out to achieve their goal.

The couple’s beautifully designed home, a testament to their hard work and determination.

Hannah and Charlie’s journey to homeownership began three years ago, when they decided to start saving for a deposit. They worked overtime, put away different amounts each month, and made significant lifestyle changes to reach their goal.

“We put down a £35,000 deposit for our home, we were planning on putting down a bit less, however, this gave us a better interest rate,” said Hannah.

The couple’s determination and perseverance paid off, and they were able to buy their dream home. But it wasn’t without its challenges. They had to give up nights out and focus on quiet evenings at home, which they actually preferred.

Hannah and Charlie enjoying a quiet evening at home, a sacrifice they made to achieve their goal of homeownership.

Hannah shared her tips for saving money successfully. “You need to be determined to ensure you will not dip into savings and understand it will all be worth it. I would say there is no one-size-fits-all for guaranteed success. However, one common lesson that can help increase likelihood of success is to never give up.”

The couple’s home is a testament to their hard work and dedication. They spent £40-45,000 on renovations, turning their kitchen into a bedroom and creating an open-plan kitchen living area. The result is a beautifully designed home that they love hosting in.

The couple’s stunning kitchen living area, perfect for hosting friends and family.

Hannah’s friends and family have been impressed by their home, and they’ve even started hosting regularly. “They love it! It’s a nice feeling being the only person in your friendship group that owns a house,” said Hannah.

The couple’s story is an inspiration to anyone looking to save for their first home. With determination, perseverance, and a willingness to make sacrifices, they were able to achieve their goal and start building their future.

The exterior of Hannah and Charlie’s beautiful home, a symbol of their hard work and achievement.