26yo homeowner reveals what she can’t afford to anymore

A young homeowner has revealed what she can’t afford to do anymore and the “scary” reality of buying your 20s.

A young homeowner has revealed that buying a house in your twenties isn’t all it is cracked up to be.

In fact, the Aussie dream could come at the cost of getting a tan on your European holiday.

Danielle Anstey, 26, posted on social media that she would rather be overseas and avoiding Australia’s winter than stuck at home making her mortgage repayments.

“I want to be tanning my cheeks in Europe! But a year ago, I bought a f**king house, and now that is where all my money goes,” she said.

“Every single cent.”

Danielle Anstey said all her money goes on her mortgage. Picture: TikTok/DanielleAntsey

She can’t afford a Europe trip right now. Picture: TikTok/DanielleAntsey

While most people spend their 20s in share houses feuding over who has to pay more based on how big their room is, Ms Anstey has already climbed onto the property ladder.

In 2023, Ms Anstey bought a two-bedroom townhouse with no backyard with her partner in Melbourne’s north. This was a huge achievement but also cost her the emergency and holiday funds she had saved up.

She said her savings were “completely wiped out” because buying a home has so many hidden costs.

“There is so many costs people don’t think of also. Such as the rates, solicitors/conveyancer fees, and the cost of filling your home once you purchase it,” she told news.com.au.

Buying a home and clearing out your savings in the process isn’t unusual in Australia.

Comparison website Finder has found that 29 per cent of homeowners have less than $1000 in their bank accounts, equivalent to 957,000 people with very limited funds to fall back on.

Interestingly though, homeowners are far better off than renters in terms of savings.

The average Australian homeowner has $52,551 in cash savings. Compared to renters, more than half admit to having less than $1000 in their bank accounts, with the average balance being $109.

The homeowner said it was scary not having ‘savings’. Picture: Instagram/danielle.anstey

She said ‘every cent’ goes towards her house. Picture: Instagram/danielle.anstey

Going from someone with savings to becoming someone living pay cheque to pay cheque wasn’t easy.

“It was definitely scary not having any emergency money in case something broke. We are very lucky that we are doing much better. A year later, we have filled the home,” Ms Anstey said.

Ms Anstey said that buying a home hasn’t just stopped her from living her best life in Europe, but it has also prevented her from seeing her family.

“The worst part is not being able to travel. It’s next to impossible. I’m from Perth, so not being able to fly back for birthdays or Christmas is really hard,” she said.

“International travel is a distant dream at the moment. I couldn’t even afford the flight. We have both recently received promotions, so we hope it’s something possible for in a couple of year’s time.”

She bought her first home at 25. Picture: Instagram/danielle.anstey

She might be a homeowner, but she’s still in her twenties, and it’s hard not to get jealous of people who don’t have to think about a mortgage before making plans to party like they are Lindsay Lohan in Mykonos.

Ms Antsey said it is “hard” seeing her peers get to let loose while she’s stuck at home paying strata fees.

“Definitely hard seeing everyone else over [in Europe]. Most people I know that can afford to go live at home with their parents,” she said.

Online people were split on if Ms Antsey’s situation warranted sympathy.

On one hand, overseas holidays can be seen as a rite of passage for people in their twenties that are childless, but on the other she’s in a luckier position than most because she owns a home.

“I did the same thing in my early 20s. Mass regret,” a fellow homeowner wrote.

“Hi from Europe! All I want is my own house,” one traveller said.

“Nah, girl. You are winning,” someone else said.

“Some of us are not travelling or buying a house,” one wrote.

“Smartest decision you’ll ever make. You literally make money just by living in it now and in the future. Houses are the best investment you can buy into, there’s a reason it’s stood the test of time,” one said.

“I pay $41k a year on my mortgage. Then still have to provide for my family. Australia is a joke,” another claimed.