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  • FIRST POST
    RoxieW
    The 'We're saving for a deposit' thread
    • #1
    • 10th Mar 08, 10:03 AM
    The 'We're saving for a deposit' thread 10th Mar 08 at 10:03 AM
    Hi all

    Thought I'd start one of these as it seems a lot on this board are in this position and I couldn't find such a thread. Sorry if there is one - please point me in the direction of it someone!

    Not sure of the best way to do this, but thought it would be good to have a thread where we can state our goals, log our savings and encourage one another.

    So, I'll start -

    Hi I'm Roxie and I'm saving for a house deposit (titter)

    We currently have a 50% shared ownership 3 bed semi that has (at the minute!) 20K equity in our share.

    We want a whole house (lol) with 4 beds, an ensuite, a garage and utility. Basically, more living space all round.

    We currently have nearly £11K in saving and are aiming to save £700 a month - although this has gone to pot recently as we've been doing abit of sprucing up in our current house. £700 is generally quite realistic IF we stick to budget. Thats just the problem I'm afraid! I chart my progress in my sig below.

    Current savings portfolio

    £6500 - ISA 1
    £800 - ISA 2
    £2000 - 10% reg saver (£200 month to be transfered to ISA on term)
    £1250 - 10% regular saver (£250 a month to be transfered to ISA on term)
    £100 premium bonds

    total - £10650

    Monthly I save like this -
    £250 regular saver
    £200 regular saver
    £250 6% saving account - this is what I dip into if needs be.

    We're planning to have another baby and will have to move when said baby is 4/5 as our 3rd bedroom is teeny. We're aiming to have 50K saved by then, which seems realistic. As we're planning another baby I'm basing my figures on just one income as I dont plan to be working until little one starts school.

    My only worry is that the market will rise much more between now and then, rendering our deposit saving pointless.

    Does anyone thin it would be worthwhile sharing SOA's as on the DFW board so point out to each other where any possible cutbacks could be made in order to save?

    So that's me - anyone else care to join in?
    Last edited by RoxieW; 10-03-2008 at 10:22 AM.
    MANAGED TO CLEAR A 3K OVERDRAFT IN ONE FRUGAL, SUPER CHARGED MONEY EARNING MONTH!
    £10 a day challenge Aug £408.50, Sept £90
    Weekly.
    155/200
    "It's not always rainbows and butterflies, It's compromise that moves us along."
Page 243
    • AcidHouse
    • By AcidHouse 1st Oct 17, 12:04 PM
    • 119 Posts
    • 323 Thanks
    AcidHouse
    Wow itís been a while since Iíve been here, but itís great to read through how everyone has made progress!

    Iíve now saved my full deposit of £14,000 which is such a relief. Buying on my own, so itís been difficult to stay motivated at times but the vision of owning my own space and what that will feel like, and the level of independence it will give me has kept me going

    Iím almost halfway to saving all of the purchase fees and money for surveys

    After that I will be saving for the actual things I need in the home, which is more difficult to figure out

    Iíve spent the last few months deciding where to buy, the max I am prepared to borrow and generally being a hermit to save the extra money!

    Keep going savers
    House Deposit = 100% Purchase Fees = 44%
    • Lolly88
    • By Lolly88 1st Oct 17, 12:55 PM
    • 213 Posts
    • 677 Thanks
    Lolly88
    Congrats AcidHouse! That's such an achievement. I'm very excited for you, what part of the country are you planning to buy in?
    House Fund - £27461.69
    Save 7k in 2017 #6: £4461.69/£7,000
    Save 12k in 2016: £14,750/£12000 - Save 6k in 2015: £8250/£6000
    • AcidHouse
    • By AcidHouse 1st Oct 17, 2:09 PM
    • 119 Posts
    • 323 Thanks
    AcidHouse
    Congrats AcidHouse! That's such an achievement. I'm very excited for you, what part of the country are you planning to buy in?
    Originally posted by Lolly88
    Thanks Lolly88
    The West Midlands - thankfully prices in my areas arenít too bad and Iím being realistic, Iím going under what I can afford because I want to have a life outside of owning the brick pile
    House Deposit = 100% Purchase Fees = 44%
    • tara747
    • By tara747 2nd Oct 17, 3:47 PM
    • 10,058 Posts
    • 26,588 Thanks
    tara747
    Wow it’s been a while since I’ve been here, but it’s great to read through how everyone has made progress!

    I’ve now saved my full deposit of £14,000 which is such a relief. Buying on my own, so it’s been difficult to stay motivated at times but the vision of owning my own space and what that will feel like, and the level of independence it will give me has kept me going

    I’m almost halfway to saving all of the purchase fees and money for surveys

    After that I will be saving for the actual things I need in the home, which is more difficult to figure out

    I’ve spent the last few months deciding where to buy, the max I am prepared to borrow and generally being a hermit to save the extra money!

    Keep going savers
    Originally posted by AcidHouse

    Well done AcidHouse!!!!!!!!!!!!! Keep us posted
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £120,000 by 31 Dec 2017! Dec 2011: £54,342 * Dec 2012: £62,200 * Dec 2013: £74,127 * Dec 2014: £84,839 * Dec 2015: £95,207 * Dec 2016: £109,122
    eBay sales - £4,559.89 Cashback - £1,972.02
    • nat21luv
    • By nat21luv 16th Oct 17, 9:40 PM
    • 3,361 Posts
    • 27,370 Thanks
    nat21luv
    September payday update!


    I saved £1,127 this month... that's £9,422 so far this year and brings my grand total to £118,544.


    Would love to hit £120,000 next month! Can I do it...?


    Originally posted by tara747
    I expect nothing less
    £12k in 2017 #36= £450 £30k by Jan 2018= £15909 53.03% 80lbs (13.12.16)

    **MONEY MAKES ME HAPPY**
    • tara747
    • By tara747 17th Oct 17, 8:53 AM
    • 10,058 Posts
    • 26,588 Thanks
    tara747
    I expect nothing less
    Originally posted by nat21luv
    Aw, thank you
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £120,000 by 31 Dec 2017! Dec 2011: £54,342 * Dec 2012: £62,200 * Dec 2013: £74,127 * Dec 2014: £84,839 * Dec 2015: £95,207 * Dec 2016: £109,122
    eBay sales - £4,559.89 Cashback - £1,972.02
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