A couple in their early twenties who both work at Woolworths are about to buy their third home, without any help from their parents.
Terry Talarico and his fiancée Monique Chetcuti work as a manager and assistant manager respectively at two different Woolworths supermarkets in Victoria.
The couple, both 23 years old, have a second job on weekends and in the evenings as caregivers for people with disabilities to make their dream of owning their own home come true.
Mr. Talarico said that while he and his partner spend a lot of time apart because they work such long hours, they are preparing for the years ahead.
“You have to make sacrifices for the future if you want to move forward,” he said realestate.com.au.
Mr. Talarico grew up with his mother and three brothers and the family lived in a rented house for many years. He therefore wanted to have his own place as soon as possible.
He bought his first house in Melbournein 2022 to the northern suburbs of, where he and Mrs Chetcuti live.
They also own a home in Fraser Rise, in the northwest suburbs, and rent out the property.
Terry Talarico and his fiancée Monique Chetcuti (pictured), both in their early 20s, are about to buy their third home, and they did it without any help from their parents
And they have also purchased a plot of land in Ballarat, 124km west of Melbourne, where they will build their next investment property.
Although he wanted to live on his own, Mr Talarico said living with his mother during Victoria’s extended lockdowns due to the pandemic helped him immensely.
He was earning about $70,000 a year at the time and paying no rent, allowing him to save a $50,000 down payment for the house in Mickleham, which cost about $500,000.
He also received a $25,000 HomeBuilder Grant from the federal government.
Mrs Chetcuti is also an avid saver, having saved about $90,000 in two years, which the couple used to purchase their first investment property.
They then used the equity they had built up to purchase the Ballarat block.
Mr. Talarico shared some tips he has used in building a real estate empire.
The first step is to seek professional help from an expert in the real estate market.
“They don’t teach you these kinds of things in school, even though I would consider them important,” he said.
When we spoke to the expert, he said we should remember that they “have all the knowledge and expertise and can convey it in a very understandable way.”
The couple, both 23, both work second jobs as disability support workers on weekends and evenings to support their dream of owning a home.
Mr. Talarico also said that we should ask a lot of questions and that “there are no stupid questions.”
His second tip is that you have to be willing to make sacrifices, such as taking on a second job or not going on vacation every year.
Thirdly, he said that they should not move out of their parents’ home in a hurry.
‘Many young people want to leave home at 18, but then you spend a lot less money than if you try to save,’ he says.