2 days ago
Student couple's $838k graduation gift
Most graduates get a cap and gown — Alex Maier and Isabel Rowan will get the keys to their first home.
The Brisbane uni students, aged 21 and 19, have bought a two-bedroom apartment in Murarrie for $838,000 off the plan, with completion timed for just after they finish their degrees next year.
'Because it isn't ready until mid-2026, it will be after both of us have graduated and found full-time industry roles, so we can afford the repayments without needing rental income,' Mr Maier said.
Both have worked multiple part-time and full-time jobs while studying for business degrees. Ms Rowan is a marketing and events coordinator at Wynnum Golf Club and Mr Maier a basketball referee.
'I have been saving for about five years, and Izzy for three with this goal in mind,' Mr Maier said.
'We finally had enough cash sitting there with the government grants to be able to afford a modest apartment or townhouse, so decided it was the logical time to buy before the grants ran out.'
They found affordable property was being snapped up within weeks, with competition only set to intensify as first-home buyer reforms expand market access from January 2026.
'The market is moving so quickly that everything that isn't hugely overpriced sells within two weeks,' Mr Maier said.
'It doesn't give a lot of time for full-time students juggling multiple part-time jobs, or in my case, full time until I resigned two weeks ago, to get out, look at properties and make decisions.'
At first they looked for an existing two-bedroom unit near the city, or a townhouse in Logan, Ipswich or Caboolture, but struggled to find value until Place Projects agent Ally Edmonds introduced them to Park Hill Village Collection.
The development east of the CBD is one of the few in Brisbane priced to suit first-buyer budgets, with one-bedroom units selling from $665,000.
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'The first-home buyer market is alive and well and trading in Brisbane,' Ms Edmonds said.
'Having stock that is under the first-home buyer grant price cap is pretty amazing, but also the offer of free stamp duty, which doesn't have a price cap, is allowing many young buyers to stretch to the two-bedroom apartments at $845,000.'
For Mr Maier and Ms Rowan, the purchase 'made perfect sense'.
'The capital growth through that corridor should be massive, and it's a lovely area with good connections to the city and our places of work,' Mr Maier said.
Although they hoped to buy under the $750,000 First Home Owner Grant cap, with another year to save before completion they opted for a two-bedder, instead claiming free stamp duty and saving about $30,000.
'Without this we would've fallen $25,000 short,' he said.
'It would've continued to get increasingly difficult to get it. I think we could've made it work, but getting in early is definitely better.'
