Homeowners at just 20 – Boston couple talk about how they got on the property ladder 14 years earlier than average

Sam Melson, a teaching assistant, and his partner Saffron Curtis-Easton, a nursery practitioner, have defied expectations to become first-time buyers at just 20-years-old – 14 years sooner than the average.

The couple have purchased a two-bedroom semi-detached home at The Quadrant, a development by Chestnut Homes in Wyberton, Boston.

They are now sharing their experience of buying their first home to show other young people that getting onto the property ladder at such an early age is an achievable prospect.

“Everyone wants to know how we did it,” said Sam, who recently turned 21. “Not everyone realises that buying a home at our age is a possibility. It’s a truly rewarding experience to be on the property ladder at just 20-years-old, and now we are an example to others that this is a realistic goal.”

Living with family – and saving the money that they would have spent on rent each month towards a deposit – was one major factor in helping Sam and Saffron achieve their ambition so quickly. Another was using the Government’s Help to Buy equity loan scheme.

Help to Buy enables first-time purchasers to secure a new-build home with a deposit of just five per cent and a 75 per cent mortgage. The remaining 20 per cent is provided as a Government-backed equity loan, which is interest free for the first five years.

Saffron said: “We initially looked at renting, but we would have been paying upwards of £600 a month for a two-bedroom house like the one we are in now.

“Thanks to the Help to Buy equity loan scheme, we were able to put down a deposit of £9,000 on our £149,000 house, which was boosted by the £29,900 equity loan from the Government.

“Now, compared to the £600 a month we would have been paying in rent, we are paying just £356 in mortgage payments.

“I know it’s not possible for everyone, but not renting meant we could save a deposit much quicker.

“Putting £500 to £600 a month that we would have been spending on rent straight into our savings meant we saved our deposit in no time. It’s hard work, but it can be done.”

Sam said: “You wouldn’t have thought it but buying was the much cheaper option once we’d tallied everything up.”

The couple paid tribute to the support of the staff at Chestnut Homes and their families in the process.

Saffron said: “Kamila, the sales advisor for The Quadrant, went above and beyond to help us. We are both very young, and throughout the entire buying process we have had to educate ourselves along the way.

“Having Kamila there to help us through it all was amazing. No question was a silly question, and that was really appreciated by us both.

“Our families have also been so important throughout the moving process, helping us prepare our home and settle in – they’ve just been amazing.”