Calvin Kern

I think there are a lot of barriers people face when trying to buy their first home these days. My dad bought his first property at 24 and my friend’s parents never rented – they were able to buy young.

But that would be almost impossible now. House prices have been going up and up and wages haven’t increased in the same way. Essentially, wages are too low and house prices are too high.

At the moment, I live in London and I’ve just moved into another house share with my girlfriend, Erin, and two friends. As it will be four people living in a three-bed flat it should be a bit cheaper. Although my rent will still be £875 before bills, so in total I think I’ll be paying about £980 a month.

I grew up in Bournemouth and moved to London where I’ve been working multiple jobs across events and social media as well as studying Business at university. Music is my passion and I’m a guitarist in a band too.

I opened my lifetime ISA a couple of months ago. For now, I’ve put £50 in, but my plan is to try and max it out every year to get the full government bonus of £1,000. I want to buy a house when I’m 30, so I’m planning ahead so I can make that happen. I’m also saving into another ISA account and have an easy-access savings account where I’m building a safety net worth about two or three months of my income.

I’ve previously been in debt, and I learnt a lot from this struggle. My dad always encouraged me to have independence, and I’ve thought a lot about putting a financial plan in place to get where I want to be.

I’m saving in a way that should allow me to afford to buy by myself in about seven years, but I would like to be able to get my first home with Erin, so if we can, hopefully we will do that. Realistically, we’d like to buy a flat in London but it’s so expensive. Also, with flats, you have to pay a service charge, so we may look at getting a house outside of London instead.