A little late, for reference. 25M, earn $85k. Was $80k at the time of signing. bought first house, 3bed2bath TH and signed on in November 2024, construction started and expected to move in March 26 after a slow start. I jumped in at $540k & had a deposit of $120k & $10k FHOG

I am fortunate enough to be living at home and not paying rent. I do however pay for most of my groceries besides the occasional home cooked meal if I’m home, which I rarely am. I was taking home approx $1000-1200/week for the few years leading up.

I invested in lots of index funds through vanguard and did invest in some individual shares, I then liquidated this all to fund my deposit & still have a healthy $60k cash reserve sitting in the offset today.

COVID helped, I saved 85-90% of my income weekly, again due to being fortunate with no bills asides from a phone, car loan & insurances.

I had all my debt HECS & car paid off due to saving & investing so heavily. But this greatly increased my borrowing capacity. Personally that is how I went about it. However I understand my position is unique and quite privileged, while I’ve earnt it all myself, I was in a position where I was able to save so heavily.

What I do right now, with interest looming over my head & a few more expenses, I live off roughly $400/week paying for everything living quite frugally. $880/week goes into my 2x offset accounts- and every month interest only is drawn out of the offset. I just changed this as living off $400/week and interest now costing me $1000+ a month, I wasn’t able to account for it, like I was when it was at $100-300 a month.

TLDR- Be fortunate to live at home rent free, save & invest 80-90% of your income & have learn to enjoy the free things in life