As an air traffic controller in the Royal Australian Air Force (RAAF), 23-year-old Invest by Metricon customer Pratyush Gaonkar has a keen eye for detail and a smart head on his shoulders. But like any young Australian, he wasn’t always as focused on the future as he is now.
"While at university, specifically the Australian Defence Force Academy (ADFA) in Canberra, I had the typical student desire to spend all my money on weekend parties," Pratyush reflects. His dad, recognising his advantageous position, advised him to save instead.
Initially hesitant, Pratyush's parents offered to assist him in saving for his first home. However, he resisted, stating that he didn't want to deal with all the research and responsibility; he just wanted to enjoy being a kid for the moment.
As Pratyush transitioned from university to an air traffic control job in Richmond, Sydney, he became more focused on saving and planning for his future. Initially considering stock investments to boost his income, he started to heed his dad's advice about saving for a home. However, the idea of entering the housing market still felt daunting, especially saving for the first deposit.
Despite his uncertainties about the buying process, Pratyush followed his dad's suggestion and contacted Metricon for guidance on his options. Talking to a Metricon New Home Advisor helped him understand that buying a home was within reach and not as overwhelming as he had thought. "The Metricon team really helped me see the bigger picture and made me realise it was achievable," Pratyush shares.
The conversation also stirred a memory from Pratyush's university days when he embarked on a road trip from Canberra to Cairns and back. During this journey, he visited friends stationed at the RAAF base in Amberley, southwest of Brisbane. "I fell in love with the warm weather and the hills, and I could honestly see myself living there eventually."
While currently renting a property owned by his parents, who suggested he save to buy it from them, Pratyush was captivated by the prospect of investing in Brisbane. Aware that Metricon was constructing homes in the Amberley area, he set his sights on buying there, with a long-term vision of possibly making it his home one day.
“I’d done a little bit of research about investing, but I hadn’t really grasped the concept that if you buy a property and hold onto it, letting it grow in value, you can potentially leverage the equity from that property to purchase the next one. That was what was so great about chatting to Metricon, because they allowed me to understand that it was a stepping stone.” Pratyush Gaonkar
With his training demanding significant time, Pratyush found Metricon's expert advice invaluable. “They offered me plenty of support. Given my limited time for research, whenever I had a question, I could turn to them and they were so helpful.”
He settled on building the Clara 20 Aspire in South Ripley, a spacious family home in an estate recommended by the Invest by Metricon team, aligning with Pratyush's situation and offering great potential for return on investment. Adding to the appeal, the home received the seal of approval from his mother, an award-winning architect.
“It fit within the budget of what I could borrow; it’s a great home that’s not too flashy, but has the perfect open-plan design and good-sized bedrooms. It was everything I wanted,” Pratyush affirms.
With the keys in hand and the search for tenants underway, Pratyush is confident he made the right decision, with a little help from Invest by Metricon. "Seeing it in person, a tangible product at the end of all the discussions and loan processes, was an awesome feeling," he expresses. “There’s a housing shortage in the area and rental properties are in demand, so I’m hoping that will work to my advantage.”
Now a homeowner, it doesn’t mean he's abandoned the free-spirited mindset from his university days. "Once the rental money starts coming in, I'll likely splurge on cars. In hindsight, I've learned nothing, as they don't appreciate in value like a Metricon home," he laughs. "It's great to have a good strategy for investing what you earn, but you still need to have a little fun too."
If you find yourself intrigued by the prospect of venturing into property investment, don't hesitate to reach out to the Invest by Metricon team today. Their expert guidance and tailored solutions can pave the way for your own success story, making homeownership and investment dreams a reality.
