Buyer diary: How this single income earner and her retiree mother entered the property market

In our new Buyer Diary series, you’ll meet recent first-home buyers, next-home buyers, and investors from around the country and discover how they made their property purchases.

For my sister, Jasmine Skewes, and our mum, Patricia Skewes, buying a home was never just about property – it was about securing a future.

As a single-income earner and a widowed single mother, respectively, home ownership once felt out of reach. However, with the grit and determination that defines many Filipino migrant families, they made it happen, purchasing their own piece of the Australian dream.

Together, they bought a home in the outer suburbs of Newcastle, NSW, in February 2023. Modest as it may be, it represents something far greater – security, stability, and a milestone worth celebrating.

In this Q&A, Jasmine shares how this was achieved.

Tell us about yourself and what inspired you to buy a home?

As I approached my mid-30s, working as a strata manager trainee, I realised how difficult it would be to afford a home on my own. My mother had spent her life working low-paying jobs and faced a future of forever renting. That wasn’t what I wanted for her – or myself. With my older sister’s guidance, we got serious about clearing debts and saving for a deposit.

How long did it take to save for a deposit?

Saving for a deposit took about two years. For my mum and me, it wasn’t about setting aside large sums but staying consistent. We initially planned for a 5 per cent deposit, assuming we’d have to pay Lenders Mortgage Insurance (LMI). But when the First Home Guarantee (FHBG) scheme expanded in July 2023 to include family members applying together, we were able to buy with just our 5 per cent deposit and no LMI, making home ownership possible much sooner.

Did you work with any professionals to help navigate the process?

We started with a mortgage broker, but after one meeting, it was clear they weren’t optimistic. My mother was in her late 50s, and our combined income wasn’t high. Their reluctance was discouraging, but we sought out another broker who had helped my sister. They were much more proactive, guiding us through the process and securing our pre-approval. It reinforced that it pays to shop around for the right broker. A big shoutout to Mel Taylor of Gateway Finance.

What was your budget, and how long did it take to find the right home?

Our borrowing power maxed out at $600,000, so we focused on townhouses and duplexes in Newcastle’s outer suburbs. The search took around six months. After several failed offers, we thought we found “the one” in a renovated two-bedroom duplex five minutes from our rental. We offered $585,000, but an all-cash buyer beat us. It was incredibly disheartening.

How did you end up securing a home?

Weeks later, the agent called to say the other buyer had pulled out. My sister suggested negotiating, so instead of simply accepting our previous offer, we countered with $575,000. To our relief, the vendor accepted. That $10,000 reduction will save us significantly over the life of the loan.

Why did you decide to buy in this area?

We wanted to stay connected to Newcastle’s lifestyle, from dining out to the beaches and everything the city has to offer. While our budget meant we were confined to hunting in the fringe suburbs, we’re happy to have found a home that’s still just a 20-minute drive from the city.

In saying that, Maryland has its perks too. We’re both a relatively short drive from work, and although the beach isn’t as close, we save some travel time on trips to Sydney with easy access to the highway.

What sacrifices did you make in choosing this home?

Ideally, we wanted a three-bedroom home with an al fresco space, but we knew we had to be flexible, as first-home buyer properties were highly competitive.

The property we purchased only has two bedrooms and no dedicated al fresco area. But it was fully renovated, which meant no immediate work was needed, which was crucial since we had no extra funds for renovations.

The large yard makes up for it, though. We recently hosted a Filipino party for my Mum’s 60th birthday in the backyard, with over 30 guests and even space for a lechon (whole roast pig).

How has home ownership changed your life?

Knowing we never have to worry about rental applications again is a big relief. My dog, Barny, finally has a permanent home, and we no longer need to provide a pet resume! More importantly, my mother now has security in her retirement, and I’ve officially entered the property market.

What’s next for you?

We’ve been in our home for a year, and while we’re still working hard to afford the mortgage, the sacrifices have been worth it. I’m planning to move in with my partner later this year, so the idea is to keep this home as an investment property for me and as a forever home for my mum.