June 10th 2023.
We're in Merseyside this week for another installment of What I Own. Last week we were in London on a houseboat, and this week we're chatting to Gaby Mendes, a 28-year-old business owner who pays £1,500 per month for her mortgage and bills. Gaby bought her home with a £20,000 deposit and has some great insights to share about getting on the property ladder.
Gaby, tell us a bit about yourself.
Sure! I'm the founder of Talk Twenties, a media and events company helping young people manage adulthood with all the things they don't learn in school. I live with my fiancé Dan, who is also 28 and runs a dog product brand called Woofdy. We have a two-year-old Bichon Frise called Harvey, who was our lockdown pup!
Where is your property and how do you feel about the area?
We live on the Wirral in the North West of the UK. It's a great spot - you've got beautiful countryside, beaches within a 10-minute drive, and we can get into the city centre of Liverpool in 15 minutes.
When did you move in?
We got the keys in August 2019.
How much did you pay for the property?
We bought it for £160,000 and got it valued a couple of years ago after we renovated - it's now worth around £215,000.
Let's talk about the deposit. How much was it?
£20,000.
How much do you pay for your mortgage and bills every month?
We pay around £1,500 per month for both.
Where did you live before this and how did you save up for your deposit?
We were renting a small top floor apartment not too far away, and we saved up for the deposit using Lifetime ISAs to benefit from a 25% bonus.
What was the process of getting a mortgage like for you?
Did you find any parts challenging?
It was pretty stressful - there's a lot of jargon and it's not something you're usually taught about in school. That's why I started Talk Twenties, to help young people understand the practical life skills they need for adulthood.
What made you decide to buy a property instead of renting?
We wanted to make a space our own, so we chose a place that needed a lot of work and renovated it from top to bottom.
How did you find this property and what made you choose it?
We had let the estate agents know what we were looking for and it fit the bill. We also met the previous owner's children and they said it was a really happy home for them growing up - I believe in good vibes, so that helped make the decision!
How have you made the property feel like home?
We renovated almost every inch of the place, getting it back to basics before adding our own touches. We knocked through walls to create more space and fitted a bath in the bathroom by removing a cupboard.
What's the inspiration for your interior decor style?
It's a mix between cosy contemporary and Scandinavian.
What's your favourite room and why?
My favourite room would have to be the bathroom - it had the biggest transformation and it's exactly how we want it. Even though we added a bath, it still doesn't feel cramped at all.
Do you feel like you have enough space?
Yes, it's the perfect size for us right now.
Do you have any plans to change the property?
We'd like to knock down the 20-year-old conservatory and build an extension on the house. We'd also probably close up the dining room and living room to separate them.
Are there any problems with the property that you have to deal with?
Not that I can think of.
What do you want people to know about buying a home?
Don't feel pressured to buy a home young - only do it if it feels right for you and if you're happy to stay in one place for a few years. Also, take your time when renovating - it's expensive, so we've found it's more cost-effective to do it room by room.
What are your plans for the future, in terms of housing? Do you plan to stay here long term?
Yes, for now we're focusing on getting married next year, so that's our main priority.
Shall we take a look around? Let's start the tour! Here's the hall, the kitchen which opens onto the dining room, and the panelling is lovely. Upstairs is the master bedroom with a very inviting bed and lots of storage. There's also the second bedroom and study area with a makeup station. And finally, the bathroom.
Do you have a story to share? Get in touch by emailing us!
MORE: What I Own: Jessica and Ollie, who spent £250,000 renovating a former Methodist Church
MORE: What I Own: Julia and Ian, who downsized after retirement and are now mortgage-free in Woolwich
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