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  • FIRST POST
    • re14796
    • By re14796 19th Mar 17, 8:22 PM
    • 51Posts
    • 6Thanks
    re14796
    What are the chances of you owning your own house
    • #1
    • 19th Mar 17, 8:22 PM
    What are the chances of you owning your own house 19th Mar 17 at 8:22 PM
    The chances of me owning my own houses are quite low, a two bedroom flat is around 230,000 and will go up because of hs3. Why don't the government do more to make housing affordable? i know they are out of touch but surely they can see the problems normal people are facing. The north properties will rise because of the high speed rail links to london.
Page 1
    • ellie27
    • By ellie27 19th Mar 17, 8:27 PM
    • 1,064 Posts
    • 719 Thanks
    ellie27
    • #2
    • 19th Mar 17, 8:27 PM
    • #2
    • 19th Mar 17, 8:27 PM
    I guess you mean being mortgage free?
    • Cakeguts
    • By Cakeguts 19th Mar 17, 8:34 PM
    • 2,656 Posts
    • 3,630 Thanks
    Cakeguts
    • #3
    • 19th Mar 17, 8:34 PM
    • #3
    • 19th Mar 17, 8:34 PM
    Where on earth do you live on the route for hs3 where a two bed flat costs £230k? That must be one of the most expensive parts of the route.
    • Rambosmum
    • By Rambosmum 19th Mar 17, 8:38 PM
    • 1,375 Posts
    • 1,834 Thanks
    Rambosmum
    • #4
    • 19th Mar 17, 8:38 PM
    • #4
    • 19th Mar 17, 8:38 PM
    We already own ours, with a mortgage. Bought when we were 26. Fortunate enough to have family support with 10k towards the deposit and we saved, saved, saved.
    • glasgowdan
    • By glasgowdan 19th Mar 17, 9:21 PM
    • 2,299 Posts
    • 2,555 Thanks
    glasgowdan
    • #5
    • 19th Mar 17, 9:21 PM
    • #5
    • 19th Mar 17, 9:21 PM
    We're a normal couple on fairly normal incomes, we owned our last house and we'll own our new one quite soon. So, quite good, to answer the question.

    It's about being sensible and patient.
    • jimbog
    • By jimbog 19th Mar 17, 9:23 PM
    • 568 Posts
    • 917 Thanks
    jimbog
    • #6
    • 19th Mar 17, 9:23 PM
    • #6
    • 19th Mar 17, 9:23 PM
    You're looking in the wrong places. There's may two bed-roomed properties in the country for a lot less than 230K.
    The problem with quotations on the internet is that you can never verify their authenticity - Abraham Lincoln
    • coffeehound
    • By coffeehound 19th Mar 17, 9:32 PM
    • 1,145 Posts
    • 1,917 Thanks
    coffeehound
    • #7
    • 19th Mar 17, 9:32 PM
    • #7
    • 19th Mar 17, 9:32 PM
    Only about 20 years left until retirement now so probably slim to nil.
    • Norman Castle
    • By Norman Castle 19th Mar 17, 10:32 PM
    • 6,043 Posts
    • 4,803 Thanks
    Norman Castle
    • #8
    • 19th Mar 17, 10:32 PM
    • #8
    • 19th Mar 17, 10:32 PM
    Why don't the government do more to make housing affordable?
    Originally posted by re14796
    They have. They've reduced the cost of many houses by adding a nearby high speed rail line. Its a win win situation. Buy one of those. Bargain.
    Don't harass a hippie. You'll get bad karma.
    • Cakeguts
    • By Cakeguts 20th Mar 17, 12:24 AM
    • 2,656 Posts
    • 3,630 Thanks
    Cakeguts
    • #9
    • 20th Mar 17, 12:24 AM
    • #9
    • 20th Mar 17, 12:24 AM
    No government is going to make it possible for people to buy in the most expensive area that they want. You have to buy where you can afford something everyone has to do that. If you can't afford to buy in one area you look for one where you can afford to buy. There are areas in the north where you can buy a house for less than £100k you have to look for a property in one of those areas.
    • MERFE
    • By MERFE 20th Mar 17, 7:22 AM
    • 1,834 Posts
    • 5,837 Thanks
    MERFE
    Quite possible in the next 3-4 years on a single wage, sooner if I get f/t work before then. However if we had remained in the South East I don't think it would have ever happened.
    • cjdavies
    • By cjdavies 20th Mar 17, 7:33 AM
    • 2,418 Posts
    • 2,357 Thanks
    cjdavies
    Me, low income , cheap house, saved and saved - on my own.
    • Whoknowskt89
    • By Whoknowskt89 20th Mar 17, 7:42 AM
    • 261 Posts
    • 621 Thanks
    Whoknowskt89
    It's always possible if you work hard to save money and work on having good credit and maybe lower expectations or change areas. Second jobs for more income or trying to work your way up the levels in a company etc. I've never gone on holiday and saved instead.
    I'm 27 and I have a mortgage on a 1 bedroom flat in the East of England (1 hour commute to central London)
    I have been here for just over 2 years and none of the help to buy isa etc existed.
    My problem is, unless I meet someone and buy with them I'm priced out of buying a house here (pretty much priced out of all but 2 areas in a huge county) so I'm looking at relocating to the east Midlands in about 3 to 5 years as then I can get a lovely house with garden and parking.
    August 2017 £9160/£11,150 savings aim for EF and moving (by Jan 2018)
    Mortgage £67 483 Emergency fund £1500 Moving fund £7660 Treats account £838 Doing up flat £1050
    Christmas 2017 £100/£160
    • Davesnave
    • By Davesnave 20th Mar 17, 8:18 AM
    • 22,875 Posts
    • 87,992 Thanks
    Davesnave
    If my property was in Winchester, St Albans or The New Forest, I wouldn't finish paying for it till I was about 150 years old.

    But it is where it is, and I own it.
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • artyclarty
    • By artyclarty 20th Mar 17, 8:24 AM
    • 113 Posts
    • 77 Thanks
    artyclarty
    Bought our house outright at 26, we don't earn a lot but scrimp and save well. House still needs work, but we are saving around 50% of our income for contingency/renovation.

    And as someone who lives in the north, HS3 has absolutely no bearing on house prices up here as it terminates about 100 miles south of us!
    • AdrianC
    • By AdrianC 20th Mar 17, 8:28 AM
    • 14,776 Posts
    • 13,136 Thanks
    AdrianC
    I assume all the references to HS3 should actually be to HS2...
    • Davesnave
    • By Davesnave 20th Mar 17, 8:43 AM
    • 22,875 Posts
    • 87,992 Thanks
    Davesnave
    I assume all the references to HS3 should actually be to HS2...
    Originally posted by AdrianC
    Or even BS2, for all the difference it will make to many people and their localities.
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • PasturesNew
    • By PasturesNew 20th Mar 17, 8:51 AM
    • 59,612 Posts
    • 348,163 Thanks
    PasturesNew
    You have to play with the hand you've been dealt, not wish you had the hand others have been dealt.

    "Marry well" seems to be the route for most/many.
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