Here’s how 23-year-old Olamide turned his finances around and bought a home just 15 months after completing university.

Who is Olamide?

Olamide is a 23-year-old financial analyst at Barclays.

“I did a 4 year course at university (a work placement year) and during that year I severely mismanaged my finances and so after that, I went searching on how to get better at personal finance. This search led me to property and that got me interested in all things buying a home.”

What problem did he face?

Olamide got his finances in shape, and began the hunt for a property which suited his needs. He found a few hurdles on the way.

An initial struggle was looking for the type of property I wanted in my price range and in my radius. I would say what I wanted was very specific and so took a while to even find properties to view. The next struggles were managing the process of the purchase along with working full time. The seller of the property I was buying was in a chain further up and would lose their property, which would cause my purchase to fall through if I didn’t exchange by a certain date, so leading up to that was manic.

What happened?

After previously sorting out his finances, Olamide now knew how to get on top of the situation.

“To overcome I’d say you need to manage your time very effectively. I kept on top of all parties (solicitor’s and estate agents) and document/tracked absolutely everything so I didn’t forget anything along the process, and it’ll help with any possible future property ventures.”

What did he buy?

“I eventually found a , two bed, Terraced house in Essex. I completed the purchase for £212,000.”

Olamide’s home in Essex, bought for £212,000

His advice for others?

My advice would be to use all resources available to you. If you can stay in your parents home, do that. If there’s an opportunity to increase your salary, take it. If a gifted deposit can come along, use it. Also, be very intentional about where each penny goes each month. It’s very easy to look back and think how did I spend so much every month.