‘Sacrifice what you know’: How 22yo Melbourne tradie saved $80k for first home

A Melbourne tradie has revealed how he’s managed to save $80,000 to buy his first property at the age of 22.

A tradie has revealed how he’s managed to save thousands of dollars to buy his first property at the age of 22, saying the Aussie dream is still achievable, as long as “you’re willing to sacrifice what you know”.

Riley Virgona, from Melbourne, has spent the past seven years saving for a property, managing to stow away an impressive $80,000 in savings.

“My parents told myself and my siblings to save towards something to get into the markets. It’s been driven to us so we’ve been putting money away towards that,” he told news.com.au.

While he’s been able to live at home while paying board, saving for a house hasn’t come without sacrifices.

Mr Virgona juggles two jobs, splitting his time as a plumber during the week and working at his father’s transport company on the weekends.

“I don’t eat take-out and I don’t really go out on weekends. I work six days a week so Sunday is just my reset day. It’s pretty much like Groundhog Day, essentially.”

After getting paid, he puts all of his income away into his saving, only chipping into it if he needs.

Riley Virgona has spend the last seven years saving for a house. Picture: Supplied to news.com.au

Despite the rising cost-of-living crisis, the 22-year-old believes home ownership isn’t entirely out of reach for young Aussies – as long as they make the necessary sacrifices and lower expectations.

“I think it’s achievable. If you’re willing to sacrifice what you know. If you’re young and you want to get a house and land package in Melbourne for example, you can’t be within the city or any surrounding suburbs. You have to go far away,” he said.

However, he recognises saving for even a smaller deposit is a challenge.

“At the moment, all my mates are having to rent and they can’t afford to do the first time buyers (scheme) and come up with a five per cent deposit while paying rent.”

Thankfully, Mr Virgona has been helped out by Yellow Brick Road after winning $10,000 in the home loan company’s “Help a Mate” giveaway earlier this month.

The 22-year-old was one of four winners who took home a chance win a share in $40,000, after he was referred by a Yellow Brick Road customer and family friend.

For Virgona, the money has felt like a “weight off my shoulders”.

“I was a bit shocked, I’ve been saving for so long and trying to get into the market so I was just thrilled,” he said.

He’s managed to save $80,000. Picture: Supplied to news.com.au

After years of hard work, Mr Virgona has managed to save enough money for a deposit and is currently looking for an $800,000 one-two bedroom apartment, 20 minutes outside of Melbourne to call home.

“I’ve saved all this time and now I’ve got a bit of money behind me, but I’m about to enter a mortgage. It’s scary, but it’s very exciting at the same time,” he said.

He encourages other Aussies wanting to save for a despot to remember “every little bit counts”.

“Even if you can only save $50 a week, that’s still something, and just work your way up slowly,” he explained.

“And always try to push to get a better pay. Just keep trying to do better and save more and find other ways to make money. Don’t just accept being stagnant.”