Getting a piece of the rock is often a case of sheer determination and perseverance.

With no savings behind them, Cassandra Simmons and Stanton Dill overcame some difficult odds to get financing and find a property for under $400,000.

Cassandra had been living in a very comfortable rental property with Stanton and her two daughters, Karlandra and Karrita. They were only paying $1,200 per month until last last November, when the landlord had to raise the rent to over $2,000.

The couple decided they didn't want to pay the higher rent and for a while, things looked pretty bleak as they looked for a new place. Most of the two bedroom apartments suitable for family were $2,500 to $3,000 per month.

Cassandra, who works as a receptionist at Logic Communications, says she couldn't bear the thought of paying most of her hard-earned money to a landlord and having nothing to show for it. But at first she thought that buying a property would be impossible.

Hoping to find a low-cost rental unit, Cassandra went to see the Bermuda Housing Corporation (BHC). When they said there was nothing available, instead of getting despondent, she decided to ask about purchasing.

“They told me all the things that I had to do and I applied myself.” BHC ended up granting the couple a 95 percent mortgage for a “fixer upper” they found off Glebe Road.

By Bermuda standards, the two storey semi-detached house was a bargain. It had three bedrooms and a one bedroom downstairs apartment and was on the market for $365,000. But it needed a lot of attention. The reason why it was so reasonably priced was that the landlord couldn't afford to fix it up himself.

With no savings put aside, Cassandra had to take out a personal loan from the Bank of Butterfield for the downpayment. Next they had to come up with money for the legal fees and stamp duty. Cassandra says she nearly gave up hope when she found out that this would add $18,000 to the costs. But the seller of the property agreed to pay half of the legal fees and family came to the rescue with the balance.

Even once the house was theirs, there was a lot of work to do before they could move in. They lived in the downstairs apartment for a couple of months while they carried out an upgrade of the wiring and plumbing in the house.

The couple were turned down for a further loan to cover home improvements, but fortunately Stanton is a mason by trade so he was able to do a lot of the renovations himself.

Cassandra admits that things are pretty tough right now. She and Stanton have to cover $3,100 debt repayments each month and every extra cent goes into doing up the property. They have already poured a further $15,000 into it. “We have to replace everything: roof, windows, kitchen, bathroom... It's definitely a struggle, but I guess down the road, I'll be grateful.” says Cassandra.

The couple have rented out the apartment which provides some extra income. When they can afford it, they will embark on new renovation projects and perhaps consider adding on to the property.

Their friends and family have been a big support and helped them to clear an overgrown part of the yard.

There's still a long way to go, but Cassandra says she enjoys the feeling of owning her own place.

“I feel more relaxed, I can do exactly what I want and I don't have to worry about upsetting the landlord!”