Harrison Matsoukas and his partner Jessica Davies are well above the average, having amassed six figures in savings as they prepare for a home purchase within two years.
They’re also using the share market to boost their home deposit.
In the Frankston area, most of their neighbours are sitting on less than $53,500 that they could put toward a home or major investment opportunity.
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But the pair are hoping to buy in Highett, Mordialloc or Keysborough, where prices range from $1.451m to $910,000 – requiring at least $182,000 for a 20 per cent deposit.
They’re also open to purchasing a property in the Frankston area where they are living and they believe home values will rise, but don’t think it would end up as their “forever home”.
Aged 30 and conscious that he wants to be back in the market within two years when they might be hoping to start a family, Mr Matsoukas recently took the step of giving up a comfortable plumbing job to start his own business in a bid to boost his long-term earnings and make home ownership more realistic.
Jessica Davies and partner Harrison Matsoukas have close to twice the average for their area in savings, with plans to buy a home together in the next two years. Picture: Josie Hayden.
“I’m still earning money, but my wage did come back a bit initially,” he said.
“But the ultimate goal is to get back into the property market, as being a tradesman I can value-add quite easily.”
Knowing that the future-focused move would likely clip his earnings in the short term, Mr Matsoukas said he had begun using the share market as a way to compensate.
Before starting his own business he was tipping in $300 a week via Betashares, and noted the lack of brokerage fees had made it more realistic as a way to boost his wealth.
Since striking out on his own he has dropped that figure to about $100 a week, but with more than $15,000 invested he believes it could very quickly help him into a deposit.
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