Monalisa Quaidoo and her husband Justin worked extra jobs as delivery drivers, including for Amazon, to save a deposit for their first home. They bought a house in Welwyn Garden City, Hertfordshire, for £365,000.
Extra work to save a deposit
The couple, who have two children, downsized from a two-bedroom flat in Hatfield to a maisonette in Hertford to cut costs. Their rent and bills were £950, and they saved for about a year, also giving up travel and eating out. Both received promotions during this time.
Their deposit was £18,500. They were among the last buyers to secure a 5% mortgage before products were pulled, and they benefited from stamp duty relief.
Finding the dream home
The house came on the market at midnight, and by 9am many people had requested viewings. The couple quickly arranged a viewing and put in an offer. Although the house was smaller than hoped, it had large grounds suitable for an extension, and the area was expected to see developments that could increase the property's value.
They moved in July 2019 and began renovation work in 2020.
Renovation with garden city restrictions
Living in a garden city brought specific restrictions. The couple were not allowed to remove a chimney breast, could not extend as much as they wanted, and were barred from taking down certain trees. They completed the renovation in two phases: first creating an upstairs bathroom, then adding a double-story extension to the back and a single-story extension to the side. They converted the house from four bedrooms to three, gaining a utility room and an additional living room. The renovation cost around £120,000.
Mortgage and monthly costs
The mortgage is around £2,450 per month, with bills around £627. Their mortgage rate is 5.4%, and they plan to remortgage in two years.
The couple did all the work themselves, including landscaping the garden and flooring, to save on costs. Their favourite rooms are the main bedroom and the kitchen and living area. They plan to stay long-term and hope to build a garden outbuilding with a toilet to accommodate aging parents.
