Molly Rogerson and Michael Cameron, with their dog Lenny, are renovating their new home after selling in Frankston North. Picture: Jason Edwards
Michael Cameron and Molly Rogerson are reaping the rewards after putting in the hard yards to get into the property market.
In June, they farewelled their first home in Frankston North which they bought aged in their mid-twenties after the Covid pandemic began.
This involved redoing the bathroom, knocking out a wall to open up the kitchen, adding a deck and a new outdoor area designed by Mr Cameron, a landscape gardener.
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While saving up their deposit, Mr Cameron, worked seven days a week and Ms Rogerson clocked up additional hours too.
They were also lucky to live with her mother for a time while building their nest egg.
After renovating the Frankston North house and putting it on the market through OBrien Frankston’s Mark Burke, it sold for a sum that “well exceeded” their hopes.
The couple then purchased a new house in a nearby suburb which they’re also planning to renovate and make into a home with their beloved groodle Lenny.
They both said hard work was key to securing a first home.
“Even if you work extra hard for six to 12 months to get some extra cash behind you, that does make all the difference,” Ms Rogerson said.
Consultancy giant KPMG is forecasting that Melbourne’s median house price will jump by about $150,000 in the next two years to hit roughly $1.16m. Picture: NewsWire/David Crosling.
She advised letting go of cosmetic or materialistic expectations which could open buyers up to more affordable properties, while her partner said it was important not to be ultra-selective.
“Everyone has a different criteria that a property has to meet to suit their lifestyle and their needs,” Ms Rogerson said.
“But I think when it’s your first home, some of those lifestyle needs you can take off the list and it’ll save you money.”
First-home home buyers are advised not to be too picky when it comes to finding a home if they’re on a limited budget, although it’s still important to have a few key criteria in mind.
And when looking to buy their first home in Frankston North, they had key points in mind such as wanting a full block and a brick-veneer abode with potential for renovation.
However, Mr Cameron’s advice for other first-home buyers was to have some “must haves” in mind when looking to purchase – but to make sure the checklist was not so detailed or long that it would significantly limit their options.
“If you’re buying a first home, you can’t be too picky – like within reason, but once you get your foot in the door that opens you up to opportunities,” he added.
Molly Rogerson and Michael Cameron, with their groodle Lenny, bought their first home with plans to renovate and sell. Picture: Jason Edwards.
OBrien Frankston’s Mark Burke said Melbourne buyers could find multiple houses priced below $750,000 in areas including Frankston North.
“You definitely can if you’re not too picky and we’ve got a number of properties coming up that’ll be definitely in that range,” Mr Burke said.
Such homes are usually solidly-built, three-bedroom brick or concrete abodes with the advantage of being minutes to the beach, freeway, train station and shops, he said.
These blocks are also often quite large and provide scope for building another home to the rear.
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