|>>|| No. 446104
Young people can buy houses if they 'don't go out drinking', says 22-year-old Stockport landlord
A 22-year-old landlord and student from Stockport says there’s no reason young people can’t buy houses — so long as they don’t ‘go out drinking’ and ‘make the most out of living at home’.
Josh Parrott bought his first house when he was just 19, using money he saved up from two jobs he did between school lessons. He rented out the £115,000 house while paying rent to his parents, saving enough to buy another one for £140,000, aged 21. Josh did a £20,000 revamp and saved money by doing most of the labour himself after work, increasing the value by £60,000. He plans to move in soon and is already on the search for his third property. The businessman plans to own ten properties — renting out nine — by the time he is 30, buying one a year so he can finally put his feet up and work when he fancies.
With grand plans on a property empire, Josh has some advice for other people in his position. He said there’s no reason young people can't afford to buy homes — but admits his mates said he was "boring" when he said no to drinks or buying new clothes.
"There’s no reason people my age can’t buy houses,” said the trainee mortgage advisor from Stockport. “You just have to get past the mindset that there are certain things you do at certain ages. It wasn’t about being super bright or anything. You just need to make the most out of living at home: it’s nothing like as expensive as renting privately or through an agency. I just didn’t blow money on going out drinking and I spent almost nothing on cclothes. My mates all said I was being boring. And I don't have the expense of kids yet or anything.
“I was given a Ford Fiesta, which I kept, whereas a lot of my friends are buying expensive cars like Mercedes on finance schemes. I mean they're nice cars but I was able to put-away up to £1,200 a month by the time I went full-time. I could have spent that by going out on the town. Working at an estate agent is a great job for young people and it doesn't require any qualifications."