While studying to become a nurse and working weekends at a takeaway, a teen has purchased her first property.
As Mirror reported, when Isabella Hunter turned 16, she started a Help to Buy savings account and saved for three years. She later bought her $145,000 two-bed semi-detached home on her own just weeks after turning 19.
She said: “I started working when I was 15 and I opened the account with my £1,000 (about $1356) savings.
“The maximum I could pay in was £200 (about $271) per month, so that was my target.”
Once she had the keys, the diligent young lady from Dearham, Cumbria, managed to do all of the painting and decorating work herself.
Isabella is also a secondhand shopper who has enjoyed decorating her home with bargains found online.
She stated: “I got my sofa and armchair on Facebook Market Place and I love to shop in charity shops.”
Isabella’s basic salary is currently just $16,000 per year, but she works regular overtime to enhance her savings.
Isabella, who is studying to be a nurse and boosting her income by working weekends at a local restaurant, added: “I am a saver at heart. When I get paid before I spend anything I move a set amount into a separate savings account.
“When I went to college, I had two days with no lessons, so I got a job in a GP surgery to gain experience and then I worked weekends as well.”
Isabella was offered a mortgage with a 40-year term, and she was able to obtain her first property with a deposit of more than $23,000 thanks to her hard-earned savings.
The teen’s mortgage is now only $284 a month, and she claims she couldn’t even rent a room for that price.
She said: “I went to a mortgage adviser and they helped me with my options. It has been a very exciting experience.”
Isabella, who was determined to own a home early in life, said: “I wanted to get on the property ladder as it gives me independence and makes financial sense.”
She added: “I don’t need or want the latest phone or designer clothes.”
“I do love a deal and will always shop around, I get a student discount and I have a blue light discount so I make sure that I am getting the best price possible.”
“I did research on my utilities and bills to make sure I am paying the best price and I made a list of all my outgoings before I moved in to make sure that the house would be affordable while I am training.”
Isabella sacrificed nights out with friends to save her deposit, but she claims the ultimate result was well worth it.
She said: “I went on less nights out and I would always take a packed lunch to work rather than buying food out every day. I saved any money I was gifted for birthdays or Christmas.”
Isabella also enjoys new sailing gear and netball, but even with her hobbies she have managed to make a little bit of money.
“With netball, I am a qualified umpire so I can be paid to umpire matches and with sailing, I helped to model some new gear which was a great opportunity as I got free kit and paid for my time.”
And the youngster has no intention of stopping at just one property.
She said: “I love it here but it is a stepping stone and I would also like to buy a second property and rent it out. I am saving again to invest in my future.”
Isabella’s mum, Kerri Hunter, added: “When Izzie got pocket money from us and her grandparents she would save up to buy something she wanted, so she understood that you have to save if you want something from a young age.”