We can't afford to live together and have children
Comments
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Stop waffling, go and get a cheaper than 190 house, fix at ten years.
Things comes along, some good, some bad, and you just handle them. If it's bad, then you get another job or a second job, you start cycling to work.
There are no definites, if you are waiting for some, it's a long wait.0 -
You might think you do but really, it changes when you live together. And again, even more when there's a child in the picture. You don't have to rent forever, just a while, to see how it goes, and iif you can cope with it.The scenario isnt far fetched it's very real for us, and if I'm repeating myself it's because the same questions keep getting asked.
We don't need to rent together we know our relationship it's not like we have been together for a few months. We have had a lot thrown at us in our time together and have come out stronger than ever
You have every excuse going for why it's not happened yet.
Noone has a crystal ball but most of us actually get on with it at some point0 -
OP - you seem to spend a lot of time worrying about how you'd pay rent in retirement if you didn't get on the housing ladder.
If you weren't saving for a house, you could have put that £40,000 in a pension instead. The pension would be invested for long-term growth from day 1, whereas deposits are usually saved up in cash. (People don't want to risk the market crashing when they want to buy a house, but this means they are running to stand still for as long as they are saving up for the deposit.)
Owning your own house is 20% more expensive than renting according to the FT. That 20% saved by renting could also go into a pension plan.
Pensions grow tax free, just as a house grows in value. But while imputed rental income and gains on the primary residence are tax free, there is stamp duty and other moving costs to take into account.
Yes, that 20% figure is very debatable, but it is clear that if you didn't buy a house you could have more in your pension, which would help cover the cost of renting in retirement. That doesn't mean I would advise anyone to not bother buying a house and to save enough money to rent in retirement instead. It just means that not buying a house does not in itself mean you face ruin in retirement.
If, on the other hand, instead of putting money into buying a house or saving for retirement you spend it all, that would lead to a very straitened retirement. But I don't think that's likely in your case. As an investment a house has many advantages and also disadvantages, like any other. It is certainly not the case that once you're on the housing ladder you can kick back and relax in retirement knowing your pension only has to cover your food bills. Houses are expensive and need maintenance, redecoration and repair, even after the mortgage has been paid off.
I think you spend too much time trying to invent future problems. Focus on the present issues. Do you want this house or not?0 -
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None of this was my original reason for posting, maybe I should have left my personal current feelings about our position out of it but that was the reason I turned to a forum. Basically I was asking advice on if 150000 mortgage on our salary was asking for trouble or a normal ratio, from a couple with no experience of Bill prices and not much scope to earn more. No one has really answered that0
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Someone is making excuses.Member #14 of SKI-ers club
Words, words, they're all we have to go by!.
(Pity they are mangled by this autocorrect!)0 -
Someone is judging someone without knowing them0
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None of this was my original reason for posting, maybe I should have left my personal current feelings about our position out of it but that was the reason I turned to a forum. Basically I was asking advice on if 150000 mortgage on our salary was asking for trouble or a normal ratio, from a couple with no experience of Bill prices and not much scope to earn more. No one has really answered that
Yes. Question answered.
The problem is you are asking about what if and what mighta nd that is where people are jumping in.
Do just get on with it.0 -
I don't understand why I would even be posting if I was making excuses and didn't actually want it to happen, if that was the case where would my problem be0
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Yes what it's asking for trouble or it's a normal ratio?0
This discussion has been closed.
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