Quote:
Originally Posted by mrmistoffelees
TBF, take London/South East out of the equation and it will be significantly less.
---------- Post added at 14:12 ---------- Previous post was at 14:08 ----------
No, there's nothing valid at all.
I believe I read earlier, that by applying all the things that she should be done it would would save you approximately the amount of money that your deposit % has increased by in the past 12 months. approx £2k
---------- Post added at 14:13 ---------- Previous post was at 14:12 ----------
You've absolutely hit the nail on the head.
---------- Post added at 14:18 ---------- Previous post was at 14:13 ----------
Similar story, SWMBO and i bought our first house twenty years ago, in Boro for £45k for a three bedroom terrace. she was on about 11.5k and i was on about 17k. Current house we're in has gone up approx 60k in the five years we've lived here.
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My friend is a doorman in Bedford and I can regularly be found up there with him even though my days of working them are now over sadly and the amount young people spend is eye-watering and they do it every day of every weekend, they could have the odd night out and save over 10k a year easily so I think Chris' point is valid, guess it comes down to either luck or how much you want it, I never thought I'd buy somewhere let alone in London but I got lucky, I saved up for legal fees and settlement for a divorce that was settled amicably
Quote:
Originally Posted by nomadking
I get annoyed when people keep talking about the "property ladder". As if the sole aim is to make easy money out of increasing house prices. It periodically ends up in tears when house prices crash, because not enough other people have the money to buy the houses with ever increasing costs. Same with any other sort of financial related crash, when nobody can or wants to buy, the price plummets.
If your only aim is to get on the property ladder as opposed to buying a home, then you should be prepared to make sacrifices and buy outside of London and other expensive areas,
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I don't get annoyed by it but I do agree, a home should be for living in as a sole aim imo, anything else is a bonus that comes later