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Girl Boss behaviour in home ownership

Girl Boss behaviour in home ownership

Posted 30 August 2023

A proud Adnyamathanha woman from South Australia, Narelle grew up in a small country town with only a couple of hundred people where everyone knows one another. She never thought it would be possible to own her first home but set her sights on making it happen.

Looking for a change in pace, Narelle moved to Queensland about four years ago. Loving the vibe of Townsville, Narelle’s next steps were to work her way through COVID and a rental crisis, seeing home ownership as her way forward. Unfortunately, without a financial background and the required deposit, she was knocked back for a home loan by the local bank. Instead of giving up, Narelle persevered with strong willpower and thousands of years of ancestors guiding her way.

Narelle enjoying her new home.

Seeing is believing and Narelle watched her sister and partner get their own home with an IBA Home Loan and she craved the security that provided. They shared their experience with Narelle and she decided to take the chance on herself.

Timing is everything. So, Narelle got started in conversations with IBA around two years ago. She was approved for a home loan, unfortunately it was during the beginning of COVID which put a setback on the house hunting process. She was given extra time to find a home but realised she wasn’t ready.

Second try was the charm for Narelle! Although the thought of home ownership was intimidating, she just kept asking questions. When she was unsure, she would contact IBA and get the information she needed.

 “Without the help of Piari (IBA Home Lending Officer), my family, and IBA, this wouldn’t be possible,” says Narelle.

In a time of rental crisis and inflation, a lot of people are deterred from home ownership. Aboriginal and Torres Strait Islander people, in particular, can feel discouraged from taking opportunities. Narelle wants mob to know they have options.

Narelle said, “Don’t get discouraged, if I can do it, so can you.”

As a single Blak woman, Narelle achieved her home ownership dreams, which demonstrated true girl boss behaviour.

Narelle shares what worked for her with those wanting to own a home, “Get rid of ‘buy now, pay later’ schemes that bog you down with high interest rates, save as much as you can, and occasionally go without that takeaway coffee.”

For Narelle, home ownership was about overcoming her insecurities about her financial awareness, and achieving the security of her own home and not worrying about renting. She said, “If you want it enough, keep going…I’m, so glad and lucky to be a homeowner, it has definitely changed my life.”

Want to learn more about home ownership? Everyone’s journey is different. Check out one of IBA’s free workshops or subscribe to IBA’s Economics Explainer vodcast series, where we talk about interest rates, to find out more.