As housing prices continue to rise steadily, an increasing number of young people are striving to find ways to enter the real estate market. One of the most effective strategies they are adopting is systematic saving. This is the case for Marta González, a 27-year-old woman who has decided to set aside 500 euros each month with the goal of buying her first home before turning 30.
For the past year, Marta has implemented a strict savings plan. Each month, she allocates a portion of her salary into a savings account dedicated exclusively to her future home. Her goal is to save enough to cover the down payment on an apartment in Madrid, where prices have reached significant levels. Marta comments, “If I don’t start saving now, it’s very likely that I’ll be priced out of the market.”
One of the foundations of her plan is cutting unnecessary expenses. To this end, Marta has opted for a more austere lifestyle, cutting back on outings, avoiding expensive dinners, and seeking more economical alternatives for her leisure time. “I’ve discovered that there are many fun and free options in the city,” she adds. Additionally, she has learned to cook, a skill that not only saves her money but also allows for a healthier diet.
The young woman is also researching mortgages and seeking guidance on the home-buying process. She has realized the importance of having a good credit history and solid savings to access better terms on her mortgage loan. Moreover, she is considering both new and second-hand housing options, weighing the advantages and disadvantages of each.
Marta is not an isolated case. According to personal finance experts, more and more young people are making similar decisions in their search for their first home. The Spanish Association of Real Estate Developers has revealed that about 30% of first-time home buyers are under 30, indicating a shift in the mindset of the new generations.
Family support is also crucial in this process. Although Marta strives for independence, she has benefited from the advice and support of her parents, who have helped her navigate the complex world of home buying.
With this disciplined approach and meticulous planning, Marta feels optimistic about her goal. “I know it won’t be easy, but I’m determined to buy my house before I turn 30. I understand that although the situation is challenging, with effort and savings, it can be achieved,” she concludes.
Without a doubt, stories like Marta’s reflect the determination of a generation that, despite challenges, is resolutely holding on to its dreams in an organized manner. With a clear plan and a saving mindset, more young people might find a way to become homeowners in an increasingly competitive market.
via: MiMub in Spanish