My Journey as a First Time Buyer!

Saver-Rob

Noooo... definately will not rent. I could never pay all that out - for me its dead money. Prices will no doubt be coming down throughout the year but that doesnt mean I would wait until the bitter end if I found somewhere I liked at the price I wanted in the meantime.

poppysarah

Excellent saving!

Are you aiming to be mortgage free?

Saver-Rob

If the property 'crash' was not in full swing we may well have stayed at home a while longer and got ever nearer to the 'cash purchase' but we will not achieve that now. Mortgage free ASAP would be lovely!

brummybloke

i was living with a woman i was engaged to for 3 years, we got ourselves a house and then she wanted out 6 months later saying she was too young!!!

i know it isnt everyone but it really is not worth the stress.

why does her name need to be on the deeds? in 2 years time when she is earning then she can get her name put on the mortgage, until then, and it may be better to wait for the end of your first mortage deal.

it gives you 2 years of living together in your own place but gives you, the person paying for it all, the protection of if something bad did happen, you were not then stuck with her in the house refusing to leave because she cant afford to move out and wont move.

honestly, protect yourself as you are the one in the strong position and have much much more to lose than she does.

dont go thinking it is all romantic and a gesture of good will on your behalf by putting her name on the deeds to show you are 'equal'.

at the moment you are not both equal so why would you give her half?

i made the mistake and was lucky in the end to come out of it with my house, i paid for eerything and earned 3 times her wage. i put her on the mortgage to show commitment. i could have saved myself a lot of stress and worry that i would lose the house if someone had given me the advice.

i would word it better to her though but seriously, dont do it as a couple.

Saver-Rob

I can see your point and am sorry you have had a bad experience. I understand what you mean about the deeds and her buying into the house at a later date. It is something to think about.

Zandoni

Saver-Rob wrote: »

Noooo... definately will not rent. I could never pay all that out - for me its dead money. Prices will no doubt be coming down throughout the year but that doesnt mean I would wait until the bitter end if I found somewhere I liked at the price I wanted in the meantime.

Do the maths if you rent a house for £600 a month that is 12 X 600 = 7200. I would be very surprised if the house of your dreams doesn't drop by at least double that over the next year. So dead money it's not.

amcluesent

22 is far to young to have a 3-bed semi, unless you aspire to 'Keeping Up Appearances'

Move out from parents, rent a city-centre flat so you can 'keep it real' and live a bit as a couple. At 22 you need to be aware of 'options'.

If you're minded to do so, there's still going to be ample choice of 'sensible' houses in 2011 to snap up as bargains.

FACT! You're a long time dead!

Saver-Rob

But living at home is cheaper and I pay a certain amount per month with no utility bills or anything ontop. Renting purely to live with my girlfriend beforehand seems to me an exceptional amount of money to spend.

Saver-Rob

amcluesent wrote: »

22 is far to young to have a 3-bed semi, unless you aspire to 'Keeping Up Appearances'

Move out from parents, rent a city-centre flat so you can 'keep it real' and live a bit as a couple.

If you're minded to do so, there's still going to be ample choice of 'sensible' houses in 2011 to snap up as bargains.

FACT! You're a long time dead!

Well, in my part of the world we dont have city centre flats. Our flats are all pretty awful! I do not want to spend a lifetime moving properties. A house like this would give us a good start and would be something close to what we would want when we decide to have kids at a later date.

amcluesent

>when we decide to have kids at a later date<

Ah, that's the other approach. Couple of kids by the time she's 25, they'll be finished Uni and off your hands while your still in your 40s! Time to live it up when you're earning a load but don't have those responsibilities. Seen it done, and it works well.