Apprentice butcher saves half his pay, buys first home at 18

First-home buyer Lachlan James

An apprentice butcher who saved half his wages for four years has bought his first home aged 18.

Lachlan James, of Holland Park, paid $575,000 for a three-bedroom unit in Zillmere in Brisbane’s north, just one year after finishing high school.

The savvy teen started working in the family business, Carina North Quality Meats, aged 14, saving between $450 to $500 a week, while living at home with parents, Michael and Sherry and his younger siblings, Charlotte and Jack.

Lachlan James saved half his wages from working in the family butchery in Carina, Brisbane. Pic: Lyndon Mechielsen/Courier Mail

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Now earning $900 a week as a first-year apprentice, he used the $33,000 he saved to cover stamp duty on the unit, which is rented out at $580.

“My dad always said to me, ‘save half your wage’. I wanted to get ahead in life and start building financial security,” Mr James said.

“The rent pays for most of the loan, then I chip in about $200 a week.

“Mum said I have to stay at home until I’m 25 – that’s all right by me.

“I’ll keep saving but I still go out mostly every weekend. I give myself about $150 to spend, if that.”

Mr James’ path to homeownership was fast-tracked when he attended a financial literacy workshop run by broker George Samios, of Madd Loans, while in grade 12 at Villanova College in 2024.

An apartment recently sold for $575,000 in this Zillmere building

“I reached to George and said, ‘how can I buy a property?’ and we made a plan to make it happen,” he said.

Mr Samios secured finance for an investment purchase through a family-guaranteed loan with the Commonwealth Bank.

No deposit was required, with all Mr James’ savings going towards stamp duty on the property. The loan was split into two – 80 per cent of it was held by the teen, while mum and dad used equity from the family home to guarantee the remaining 20 per cent.

“The government grants for first-home buyers are really good, but they require you to live in the property and that limits how much you can borrow,” Mr Samios said.

“When we worked the numbers with Lachy, he couldn’t get into the market that way.

“With an investment property, the rental income boosts your boorowing capacity and that was what he needed.”

Madd Loans broker George Samios runs free workshops teaching financial literacy to school students

After a month-long search, Mr James settled on a unit in the growth market of Zillmere, where apartment prices have surged about 20 per cent over the past 12 months to a median of $610,000, according to PropTrack.

Typical rental yield in the suburb is 4.6 per cent, with 1410 buyers interested in every unit listed for sale.

Mr Samios said it was “easier than you think” to buy your first home with the right support.

“For everyone saying people in Brisbane can’t buy a property in 2025, here is the real-life proof.

“Lachy’s father Michael is a hard worker and he’s big on his son saving money. The kid works six days a week and is the youngest buyer I’ve ever had – and our business has settled over $2b in loans.”

Lachlan, then aged 13, with parents Michael and Sherry James and younger siblings, Charlotte and Jack. Pic: Nigel Hallett

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