Teenage Couple Achieves Homeownership Dream Through Financial Discipline
In an inspiring story of financial determination, a young couple from Devon has managed to purchase their first property at just nineteen years old. Megs Clement and her boyfriend Sam Rice have become homeowners after eighteen months of focused saving, demonstrating that early property ownership remains possible with careful budgeting.
From Drive-Thrus to Driveways: A Lifestyle Transformation
The school sweethearts, who began dating at sixteen, made significant lifestyle changes to achieve their goal. Megs, now twenty, revealed that after passing their driving tests, frequent visits to McDonald's and KFC drive-thrus were a weekly habit. However, after house-sitting for her grandparents, the couple developed a strong desire for their own home and decided to redirect their spending toward savings.
"We were in McDonald's and KFC 24/7 when we first passed our driving tests," Megs explained. "We then started saving just before turning eighteen. Both of us worked full-time after leaving school and completed apprenticeships."
The Saving Strategy That Made It Possible
The couple implemented a rigorous savings plan, aiming to set aside at least £1,000 each per month. Their combined incomes—Megs works forty-hour weeks in end-of-life care while Sam works as both a carpenter and firefighter—provided the foundation for their financial strategy.
Key elements of their approach included:
- Eliminating regular takeaway meals
- Reducing nights out and entertainment expenses
- Continuing to enjoy budget-friendly holidays together
- Working with a financial adviser for guidance
- Increasing savings after completing apprenticeships and receiving pay raises
"We still managed to have fun over the year and a half we properly saved for, just on a budget," Megs noted. "Honestly, we don't really do many nights out—I don't know if that's just us or if it's more normal now. We still went on holidays as that's something we really enjoy doing together and couldn't cut everything out, but we certainly cut back on takeaways."
Navigating the Property Market Challenges
The path to homeownership wasn't without obstacles. The couple initially found a house they wanted at eighteen but couldn't afford it, which motivated them to save more aggressively. Later, they made an offer on another property that was accepted, only to discover structural damage during the survey, forcing them to pause their search temporarily.
Their eventual purchase—a two-bedroom end-terrace home with a driveway accommodating three cars—required negotiation skills. The property was initially beyond their price range, but after viewing it and recognizing it needed work, they made a lower offer. After their first offer was rejected, their second was accepted, resulting in a £25,000 reduction from the asking price.
"Our financial adviser was brilliant from start to finish and guided us through the whole process with our mortgage," Megs said. The total purchase price was £28,000, with a £19,000 deposit accumulated through their disciplined saving.
A Proud Achievement in Today's Market
The couple expressed pride in their accomplishment, particularly given current market conditions. "We are the first out of our friends to buy a house," Megs shared. "We both feel very proud to have our own house in the state of the market right now."
Their story highlights how strategic financial planning, lifestyle adjustments, and professional guidance can enable young people to enter the property market despite economic challenges. While neither initially planned to become homeowners so young, their experience house-sitting sparked the idea, and their determination made it a reality.
