With the rising cost of living and rising rents, most people are finding it hard to save for a deposit to buy a house. Nick Millican informs about how Novica Petrovic was also saddled with student loan debt, but that didn’t deter him from making a plan to raise the money for a house deposit.

The 25-year-old software engineer recently purchased a two-bedroom flat in New Malden, Surrey. It took three years to earn a deposit while living at home with his parents. Nick Millica adds that Petrovic used his university education in math to work a side hustle.

While fully employed at a fintech company, the employee Petrovic decided to work a side hustle as a math tutor to earn more money to save up. Petrovic made the conscious decision to live at home with his parents to avoid paying rent. As Nick Millican recalls, he saved up more money this way. After three years, Petrovic had a decent deposit saved up and started looking for a flat. 

He looked for a location with access to nearby transport. While also having access to shops, restaurants, and bars. He finally decided on a modern flat located at the Kingston East Development. With the Help to Buy program, Nick Millican shares, Petrovic was able to put down a £42,000 deposit on the £460,000 flat. 

Petrovic is now settled in and enjoying life living at his flat. Due to his experience, he advises prospective buyers to plan ahead and do some research to find out how much is needed to save for a deposit. Real estate expert Nick Millican reports that more people are looking for innovative ways to save up and become homeowners.