When a house comes with its own chicken, you know you’re onto a winner (no dinner jokes, please). And while it wasn’t the catalyst for Alaina and Jono going regional, Melbourne home prices and lockdowns were. Here’s how this urban couple made the tree change, and their top tips to help you make the move.
1. Be open.
After making the move from regional Victoria, Alaina and Jono were set on their life in the big smoke. ‘We love Melbourne – we're never moving back,’ said Alaina. But then they started house hunting, and quickly realised they needed to expand their outlook. ‘We knew buying a house was never going to be an option unless we won the lottery.’
So, they bought a ticket. And, made the shift to Werribee on the outskirts of the city, where groceries were a little cheaper, the lifestyle was ever so slightly slower … and they liked it. It provided the inspo the couple needed to move further out still, where they found they could get a much larger land size for their budget.
‘If we were to spend that amount of money regionally,’ explains Jono, ‘we would get a larger block and more bedrooms. So that's where I think it sparked – we wanted more for our money.’
2. Be stingy.
Living in the foodie capital of Australia, Alaina and Jono loved exploring Melbourne’s culinary delights. ‘The selection of food was pretty amazing,’ says Alaina. ‘We had our specific banh mi and burger places we loved going to. We just loved eating out.’ But when they started saving for their own home, something had to give. ‘We never bought coffee,’ says Jono. ‘We never bought lunch or food on the road. We got really, really stingy with money.’
Then lockdowns hit, and eating in became the new eating out anyway. Plus, the pandemic changed more than just their eating habits. ‘One thing COVID taught us was that we can still connect with our friends,’ Alaina shares. ‘Living through that really long lockdown in Melbourne solidified to us that we could keep those relationships, even though we weren't living in the city.’
With more of their savings directed to their house deposit than dining out, they soon settled into their spacious home that ticks their three main boxes: three bedrooms (including a home office and a spare room for friends), yards for the dogs (Jono), plus air con (for Alaina – hmm, ME thought she was already pretty cool).
3. Be prepared.
ME keeps hearing the words ‘spreadsheet’ and ‘budget’ from our House Mate homeowners. Because, it appears, they work. Excel sheet at hand, Alaina says, ‘We put a few goals in place, like how much we wanted to spend each week on groceries, and tried to stick with that budget.’
With a little compromise and planning, Alaina and Jono jumped on the regional housing ladder, with a view to building up some equity and returning to Melbourne. But the lifestyle they’re living, and the savings they’re making, has led to a new plan.
‘One thing that made me feel like it was the right decision was seeing how much our mortgage is going to be, as opposed to what we were paying in rent,’ says Alaina. ‘We’re just so glad we did it. And now, I wouldn't look back.’
‘It's a lot more enjoyable – a lot more time doing activities we didn't in Melbourne because you're spending so much time commuting to and from work,’ Jono says. A lot more time, and a lot more space for Alaina, Jono, Polly, Ken, Crazy Dave, Princess Consuela Banana Hammock … and one chicken whose name we can’t put in print.*
Get more property buying tips, whatever rung of the ladder you’re on, with House Mate. From ME, the Aussie bank Making Money Good.
*But we did put in the video.
This article is prepared based on general information. It does not take into account individual financial objectives or needs and is not financial product advice.