27yo landlord reveals why he can’t afford to move out of his mum’s house

Getting onto the property market is becoming harder and harder and a fresh landlord trend has exposed it.

Jason Wetherton owns a home, but he is still living with his parents because he cannot afford to move into the property he bought.

Mr Wetherton, 27, spent years working in sales and saving up for a deposit. He worked seven days a week for around six years.

“It wasn’t easy. It involved a lot of sacrifice and saying no to activities my friends were doing that everyone else seemed to say yes too,” he told news.com.au.

To earn extra money, Mr Wetherton did DJ gigs, took on cleaning jobs, and constantly brainstormed new ways to earn extra cash.

“I learnt the value of budgeting hard and working hard and staying focused on the bigger picture, but it wasn’t glamorous,” he said.

Jason Wetherton worked really hard to buy his investment property. Picture: Supplied

He wanted to buy a home that could help his mum. Picture: iStock

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Mr Wetherton saved $30,000 and his mum contributed $20,000 to put down a deposit on a home in rural Victoria.

The 27-year-old was so focused on buying a home because he wanted to secure his financial future, not just for himself.

“The bigger picture here is that this house isn’t just for me. It’s part of a plan to help her retire comfortably. It’s not just an investment in property, it’s an investment in family and future security,” he said.

Mr Wetherton explained that buying the investment property was less about getting ahead himself and more about keeping his mum comfortable.

“I wanted to create a source of income for my mum so she can retire comfortably. I always wanted to build a future where my parents’ sacrifices are repaid with security, peace of mind and comfortability,” he said.

“The age pension is not sufficient to have a lifestyle and survive these days.”

Mr Wetherton said the hardest part of his property journey was staying focused because, at times, it felt like the harder he worked, the more property prices kept surging.

“For six years, I worked seven days a week. Working day in, day out, and it feels like the finish line keeps moving further away,” he said.

“Add to that the self-doubt, the unexpected bills, and the mental toll. It is like a constant battle against the clock and yourself.”

At times he felt like buying a place had become ‘impossible’ but he kept working towards the goal. Picture: Supplied

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The 27-year-old said that the goalposts just kept moving, and at times, he felt like the real estate game was constantly changing.

“Do you sit and blame the system or find ways to beat it on your terms?” he said.

“I was always thinking that buying an investment property would be impossible, but it was a lot more attainable then what I thought.”

Mr Wetherton said, at times, it felt like every “door was slammed shut”, but the game changer for him was realising he didn’t have to buy a property in Melbourne.

Instead, he could buy something more rural that he could afford and wouldn’t have to spend the next 10 years saving up for and rent it out.

The 27-year-old’s landlord plan isn’t an uncommon one.

Recent data from digital home loan lender, Tiimely Home, show an 8.45 per cent increase in first-home buyers applying for investor home loans in 2024,

“Compared to last year, there’s a clear trend that more first-time home buyers are entering the market as investors,” Tiimely Home’s Head of Retail Belinda Jackson previously told news.com.au.

“Soaring housing costs have made immediately owning and living in their dream home increasingly difficult,” Ms Jackson said.

Even now that Mr Wetherton has secured his first property, which he hopes will become a lucrative asset for both him and his mum, he can’t afford to move out.

The he said he’ll move out when the “timing is right” and that feels like it might not be until he is 30.

“I’d love to say before I’m 30. I am currently working hard to save for my second property, and then I will be looking to rent an apartment closer to the city,” he explained.

Property expert Anissa Cavallo, who owns 17 properties herself, said that young people should get into the property market sooner rather than later.

“Jason’s journey is an excellent example of what’s possible for young people who are determined to get on the property ladder,” she said.

“While the housing market can feel overwhelming, especially for first-time buyers, I truly believe that with the right mindset, planning, and support, it is achievable.”

Ms Cavallo explained she’s seen a “growing trend” of young Aussies entering the property market by becoming landlords.

“With rising property prices making it difficult for many to afford to live where they want, this strategy is becoming an innovative way for young people to start building wealth while staying flexible about their living arrangements,” she said.

The property expert said it shows young people are thinking of untraditional ways to get onto the property ladder.

“Instead of waiting years to save enough for their dream home in a high-demand area, they’re choosing to enter the market strategically by investing where they can afford,” she said.

“It’s about getting a foot in the door and using that as a stepping stone to build their future.”

Ms Cavallo said it is “harder” now to buy than it was for previous generations, but it isn’t impossible.

“It requires a willingness to work hard, save consistently, and make sacrifices along the way,” she said.

“For young people feeling locked out of the market, I’d say this: don’t give up. Stay disciplined, seek advice, and be open to creative solutions.”

Ms Cavallo said that if you’re looking to buy but feel you can’t afford it, the best thing you can do is seek professional advice.

“You may not need as much as you think to get on the property ladder. Jason’s journey shows that with the right approach and a lot of hard work, you can achieve what once seemed out of reach,” she said.