‘I’m 20 and bought first home while earning minimum wage – here’s how’ | Personal Finance | Finance

A young woman who was previously mocked by friends for being “stingy” has revealed how she successfully bought her first property in just 20 years after diligent saving while working for minimum wage. Tia Cordery, from Billericay, Essex, started putting money aside when she started her apprenticeship at the age of 16. Determined to get on the property ladder, he consistently deposited a significant portion of his earnings into a savings account rather than spending evenings out and on other leisure pursuits.

His dedication paid off earlier this year when he secured a mortgage and bought a one-bedroom flat worth £180,000. Tia said: “I would invest half my earnings [the app] Piggy bank. I was probably saving £300 every month and I didn’t have any bills and I didn’t have a lot of money. I [originally] on minimum wage, around £6 an hour.”

Although he has saved around £12,000 for a deposit, he argues that access to private mortgage products is crucial to making homeownership possible.

Tia explained: “I’ve only saved around £12,000 but I think it’s a lot easier for young people to get on the property ladder because of the mortgage options, it’s not talked about much.

“Due to my earnings, I was only able to get access to certain lenders.

“I tested my numbers to see if I could buy from Nationwide. As much as I earned [amount]They were able to lend me six times my income.” The now-real estate agent admitted that her determination came at a social cost. While her friends went out regularly and spent freely, she made a conscious decision to focus on savings.

He recalled: “I remember people I hung out with at the time calling me a miser, telling me I was short-sighted just because I didn’t want to go out all the time and spend all my money.

“I don’t talk to them anymore, but it was hard. They were saying, ‘Let’s go out, have fun,’ and I was saying, ‘I don’t have much money, I don’t want to do this.’

“I lost a lot of friends because of this.”

His career in real estate led him to investigate whether he could get on the housing ladder sooner than he expected.

Tia said: “I [initially] I didn’t know I could buy it, but being in the industry, I was like, ‘Can you crunch my numbers?’ ‘Can I get a mortgage?’ They turned around and said ‘yes you can do it’.

“Being surrounded by properties and people moving in every day, every day, inspires you.”

After chronicling her journey on TikTok, she faced accusations that her family’s financial support contributed to the purchase, allegations she strongly denied.

He said: “I’ve always been a worker because my family couldn’t afford to buy a lot of stuff, so I had to pay for it myself.”

Tia now urges others to put aside everything they can afford.

He said: “Open the account, even if you save £50 a month, do what you can and it will all add up in the end.

“I think if you really put your mind to it, then you can do it.”