NEWS Tips from first-time buyers - 'We bought a £320,000 home aged 25'

I bought my first home at 25 after saving for 3 years! Here's exactly how I did it... Saving for a house deposit and buying your first home in your 20s can feel impossible, but these are the steps that made it possible for me. If you're saving for your first home, or have any questions about buying a home, let me know in the comments! #PersonalFinance #moneytips #savingmoney #firstimehomebuyer I bought my first home at 25 after saving for three years. And here's exactly what I did and pretty much anyone can do it. One, set a savings target. Set yourself a savings target. Go and find the type of home you wanna buy and calculate roughly how much you need for a deposit. For example, the average home price in the UK is around £300,000. So with a 5 to 10% deposit, you'd need around £15,000 to £30,000. Next, open a Lifetime ISA. It's a type of savings account for first-time buyers aged 18 to 39 where for everything you save, you get a 25% bonus on top of your money, up to a maximum of £4,000 per year. So if you save the maximum £4,000 per year, you'll get a free £1,000 just for the money. Just note, you can only use the money under £450,000, or you have to pay a 25% penalty. So if the home you want to buy costs more, you might want to use a different type of account. Also note, the government is planning to scrap it, but if you open one now and put a pound in it, when it is eventually scrapped, you'll still be able to continue and save indefinitely. Three, increase your household income. I increased my household income not only to help me save for a deposit faster, but also so I could borrow more for me. For me, that meant progressing in my 9 to 5, but also earning money through side hustles. The difference my partner made was buying with my partner, as it meant we could combine our incomes and use both of our Lifetime ISAs. Buying on your own is definitely possible, but if you have the option to buy with a partner, it can make getting on the ladder easier. Four, buy a fixer-upper. We renovating buying. Buying a home that's already done up means you're paying someone else for their work, and you might not even like it. It definitely wasn't the easy option, but buying a fixer-upper meant we paid less upfront, could afford a better location, and a property with more potential.