How a young Australian Greek managed to buy a house

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At only 24 years old, and just out of university, a young Australian Greek from Melbourne, has just bought his first house, after building up his capital from scratch, at nearly a million dollars.

When so many young people are shut out of the real estate market, Evan Vassos proves that with a little confidence, a good sense of opportunity and a lot of research, the stock market is one of the few avenues young investors can take to find themselves. develop. their wealth.

Evan Vassos has always loved numbers. He was only 18 when he developed a betting strategy which was quite successful, although he soon gave up that path and turned to the Australian Stock Exchange, while studying for a Bachelor of Commerce degree at Monash University.

“People should never underestimate the power of investing in the market and for young people there are very few opportunities in this low interest rate environment to invest in asset classes that may It should also be pointed out that many young people are excluded from the real estate market because they simply do not have the capital to invest,” Vassos told Neos Kosmos.

The recent college graduate from Northcote, with a keen interest in business, says he has invested in many companies and continues to learn something new every day, stressing how important it is to do your research.

“Research, research and more research” is the key to successful investing, he says, adding that another important thing he learned along the way was never to put all his money in one. single action.

“There are some incredibly smart investors out there and I like to pitch some of my ideas to them for a second opinion,” he adds, explaining how he’s managed to gradually increase his investment to nearly $1 million since then. that he left high school.

The young Greek Australian says he tries to assess the experience and knowledge of senior management before investing and he points to the online webinars that many companies are hosting, urging all investors to tune in to these and regularly read company reports and updates.

Mr Vassos bought the two-bedroom apartment, overlooking the CBD, in 2020, using substantial incentives offered by the government and the developer at the time.

“I was able to claim the first homebuyer’s grant, the federal homebuilder’s grant, a developer rebate, stamp duty concessions and early access to the super.”

For him, the apartment is a springboard, because he hopes to buy a house in the future.

Ultimately, he says, it’s about finding balance, enjoying life by living in the present while investing in the future.

“I was lucky to have parents who emphasized the importance of education from an early age.”

Evan Vassos (2nd from left) joined the committee of the RMIT University Society of Hellenes while studying for his postgraduate. Photo: Supplied

Mr. Vassos’ paternal grandparents are from Florina, while his maternal grandparents are from Florina and Athens, but of Cretan descent. From an early age, he was encouraged to explore his roots. He attended Greek school for a long time, completing his VCE Greek in grade 12 and forming lasting friendships that continue to this day.

“To all Australian Greek students (especially university students), don’t be afraid to put yourself forward and get involved in cultural associations/events at your local university.”

Joining the Monash Hellenic Students Society in 2019 and the RMIT University Society of Hellenes in 2020 were good experiences and he hopes face-to-face events will return for all university students so they can get involved in university life .

Mr. Vassos recently earned a Masters in Business Administration and looks forward to putting everything he has learned into practice as he continues to invest his funds. In the future, he also hopes to move into a fund management/venture capital role, as he is very interested in valuing and helping companies grow.

You can follow Evan Vassos on twitter @EvanVassos. He often comments on his investments and rationale on the platform and although he does not provide advice, anyone interested can follow his logic and thought processes.

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