Melb parents strive for mortgage free retirement

Crystal (pictured) and Darren Linper wiped out their first mortgage young, but with three kids and another home, they’re back in debt. Picture: David Crosling

Crystal and Darren Linper wiped out their first mortgage by the time they were 30, but with three kids and a bigger home, they’re back in debt and racing to clear it again.

The couple bought their first property at just 22, renting it out while living at home with their parents to keep costs down.

The decision gave them the space to pay down a quarter of the loan early and funnel every spare dollar into repayments.
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By 30, the mortgage was gone.

“It wasn’t glamorous. I drove the same old Mazda for more than a decade, stopped doing salon blow-dries, and we cut back on dining out. We even gave ourselves strict weekly allowances,” Mrs Linper said.
“Every other dollar went straight to the bank.”

Mrs Linper said when the family outgrew their starter home, her family upsized, taking on a new mortgage to give their three children more space.

“We wanted room to host friends and to give the kids space,” she said.

The Victorian couple sacrificed holidays, dinners out and new cars to pay off their loan by 30. Picture: David Crosling

“We knew it meant going back into debt, but we’ve always been strict about carrying no other liabilities.

“No credit cards, no HECS, no car finance. That discipline means we can focus everything on the mortgage.”

The couple now aim to be debt-free again by about 60.

Mrs Linper said she worries those jumping into the property market later in life.

“People are doing everything later, marriage, kids, buying,” she said.

Now in a bigger home, every spare dollar again goes to the bank. Picture: David Crosling

“But if you don’t get on the ladder early, you can’t save fast enough to outpace property growth.

“I know people in their 30s or 40s who want a family home but can only afford a two-bedroom apartment. They’re forced to compromise either on the property itself or the area.”

Mrs Linper said she believes mindset matters most.

For the Linpers, home ownership is pride, stability for their children — and a dream worth every sacrifice. Picture: David Crosling

“The mistake is thinking if the bank says you can borrow X, you can afford X. That’s not true. You need a crystal-clear budget and an honest conversation with yourself about the sacrifices you’re prepared to make.”

For Crystal and Darren, those sacrifices have always been worth it.

“Every time we’ve bought, there’s that gut-level panic when you see the debt figure. But once you settle into a routine it becomes empowering. You’re not just paying down a loan, you’re building a future.

“Home ownership is stability for the kids, pride in what we’ve achieved, and freedom in the long run. The Australian dream is harder now, but it’s still achievable. With planning, good budgeting and the willingness to go without, it can absolutely be done.”

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david.bonaddio@news.com.au

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