‘Feeling small’: 22yo reveals wild question by real estate agent

A new homeowner has revealed the grim question she kept getting asked while trying to buy her first place.

When Lou, 22, saved up $113,000 for a deposit on her first apartment, she found it impossible to be taken “seriously” by real estate agents.

The Sydney woman works in technology and saved up for her deposit by living at home and having “virtually no expenses”.

“I covered my essentials such as transportation, food, health and entertainment. I was able to save and invest a significant portion of my income,” she told news.com.au.

“I was also disciplined with my spending. As soon as I got paid, I would set aside money for savings, making it inaccessible for daily use. Then, I would manage my expenses with whatever was left for the month.”

Lou’s hard work paid off, and she bought her first apartment in Sydney. It cost over $500,000, and she is now paying $2722 in monthly repayments, bringing her weekly cost to $680.

But even after she had saved a six-figure deposit she faced further unexpected challenges, making her experience of buying a home a disappointing one.

Even though she had a stable job, an adequate deposit and was a motivated buyer, Lou said it was difficult to get real estate agents and brokers to take her seriously.

The 22-year-old bought her first home all by herself. Picture: Supplied

She said the home buying process was harder because people wouldn't take her seriously. Picture: Supplied

“I struggled to be taken seriously when talking to lenders, brokers and real estate agents. Due to my age, they seemed to doubt that I had saved up for my deposit or were apprehensive about my income,” she said.

“I would feel small talking to them. When I go to inspections, some real estate agent would assume that I’m not really serious about putting in an offer or wouldn’t really answer my questions in detail, or they would imply that I was married even though I never mentioned anything to them, saying things like ‘What does your husband do?’”

She worked hard to buy her first place. Picture: Supplied

She saved up by living at home. Picture: Supplied

People also weren’t subtle in expressing their doubts.

“I remember one broker implying that I was lying about my income, saying, ‘I don’t know anyone 22 making what you make’,” she said.

“Others assumed I was purchasing with a partner rather than as a single applicant, not sure if it was because I was a woman or my age. Also, they would always assume that I didn’t know what I was doing and would be very condescending when explaining simple things to me.”

The response was disappointing for Lou, who had long had a goal to get into the property market, and had worked so hard to get her foot in the door early with no help from the “bank of Mum and Dad”.

“I’ve always wanted to get into the property market, but fearmongering made me a bit apprehensive. I wanted something that was purely mine, something I owned,” she shared.

“In my spare time, I would often look at properties online and imagine how it would feel to live there and have my own space.”

The 22-year-old now has a $500k mortgage. Picture: iStock

Buying her own place was a long-term goal for the 22-year-old and something she’d been working towards for years.

“My plan was always to purchase a property by 25, but thanks to my job and investing, I reached my deposit goal much faster. I began talking to different lenders and brokers and realised that it was actually feasible for me to purchase a property this year,” she said.

Lou had also done her research and was aware of most of the hidden costs of buying her own place although there was a few unexpected expenses.

“I was surprised by the cost of hiring a conveyancer and the fees for strata, building, and pest inspection reports. I was also surprised that I had to pay for these inspection reports even if I didn’t end up purchasing the property,” she said.

Lou’s now been sharing her home-buying journey online in hopes that it resonates with other young people.

“I’ve received numerous messages from young people inspired by my story and now feel hopeful about their future. With so much fearmongering happening, many young people have given up on the idea of saving or owning property. However, seeing a regular person who is studying and working full-time seems to inspire them.”

Originally published as ‘Feeling small’: 22yo reveals wild question by real estate agent