Nelson homeowner Ethan Curtis speaks about his home buying experience as he prepares to purchase a third property.

The dream of owning a home has come true for one young Nelson couple - twice. Tim O'Connell reports as part of the Close to Home project.

While the dream of first home ownership is becoming harder to realise for young New Zealanders, Ethan and Danielle Curtis are proof that it's possible.

Encouraged by parents and friends to get on the property ladder while they were young, the couple bought their first home in Nelson three years ago, making them homeowners at age 21 and 19, respectively.

A handy first-up residence for the mechanic and administration worker, the three-bedroom, one bathroom former state house on a 715 square-metre section in Tipahi St cost them $220,000.

Ethan left school after Year 12 and went to work for a construction company while Danielle completed her studies and went into retail.

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MARION VAN DIJK Ethan and Danielle Curtis with their first home in Tipahi St, which they bought at age 21 and 19 respectively.

Using equity from their first home, they bought a second one 18 months later in Vanguard St for $282,000, which they rent out.

Now aged 22 and 24, Ethan and Danielle are looking to buy a third house - something that's almost unheard of for a young couple in the current housing market.

But this time, the heat in the Nelson-Tasman market and new loan-to-value ratios for investors that requires a 40 per cent deposit, is forcing them to look outside the region.

"We still think we'll be able to do it, but we might just have to look out of town, possibly in Blenheim or Christchurch," Ethan said.

"We just don't seem to get the same return here in Nelson anymore."

According to Core Logic data, Ethan and Danielle are classified as "multiple property owners" - the largest cohort of buyers in Nelson-Tasman in the past year.

While they got on the property ladder before the latest housing market boom, Ethan said it wasn't hard to secure their first 10 per cent deposit using Kiwisaver contributions and savings.

They also lived with another couple to save on rent costs prior to buying.

Ethan said servicing a mortgage had been relatively easy, although having two incomes and no dependents - besides their cat Bongo - played a big part in that.

"It depends on how you look at it," he said. "We are quite cautious with what we spend our money on compared to some of our friends, but we don't exactly live in poverty."

Having gone through lenders New Zealand Home Loans, he said using their online tracking system and offset lending was "very important"' in managing their finances.

Ethan said the second house was a worthwhile investment, running as a neutral return but bringing in enough income to pay the mortgage and utilities on the property.

"It's probably in better shape than the one we live in now. We were thinking of moving in ourselves actually."

Since buying, both of their houses have appreciated by about $100,000, according to estimates on property website Homes.co.nz.

Despite the challenging climate that prospective first home buyers are facing, Curtis encouraged them to pursue their goal.

"Just keep on saving, especially at the moment. Even we're going to find it hard to buy again because of these new rules coming in, but also the property market is just going nuts, even here in Nelson," he said.

"If you do want a house it's definitely worth looking into now."

If you would like to share your experiences as a buyer, seller, or otherwise in the Nelson-Tasman property market, drop us a line at newsdesk@nelsonmail.co.nz or call 03 546 2875.

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