FTB expectations too high?

neverdespairgirl

Really2 wrote: »

I am not knocking you, you earn a good wage but trading up as always been a part of house purchasing.

I don't think that it necessarily has. My Dad was born in the same house as his older brother, and his parents lived there until they retired.

neverdespairgirl

neas wrote: »

Hardly any of my mates of similar age and renting are renting a 3 bedroom house.... of course it never made sense to rent a 3 bed house (well almost never)

We rent a 3 bed flat, perhaps we're the exception that proves the rule?

neverdespairgirl

Maisie11 wrote: »

Paying rent means that you pay rent until you die!
.

Not necessarily. It can be paying rent until you buy....

geoffky

whathavewedone wrote: »

Mpga9jpfg, lets get this straight.

1. You think that the house prices of 1995, which followed a recession (which you probably can't even remember) are the appropriate level for house prices now?

2. You think on a salary of 50k that you should be able to afford to buy a better than average house with no mortgage?

50k in some parts of the country is a very good salary indeed and would certainly enable you to afford a better than average house.

If you can not afford to buy a better than average house then that is because you live in an area where 50k does not make you a big shot high earner but merely a middle ranking earner.

Get over that fact and get over yourself while you're at it.

and what do you rent off the bank?

TighterThanTwoCoatsOfPain

I got to the first 50 odds posts but thought i would throw in my 2p..

When my parents first bought their house they were very much "average" and struggled to get a 2 bed mid terrace in leeds and they felt stretched!

When i first purchased my first house in 2001 ish i bought what i felt was comfortable... Was just under 3.5 of my own salary and was a a 2 bed terrace.

Many FTB i speak to who are now just tripping out of Uni or deciding to buy having been renting think that anything less than a 3 bed semi + garage is the least they deserve!

I cant say I agree... As per the OP, if you are a FTB then its the bottom of the ladder where the sights should be set and trading up when you get older..

If you're 35 and still not bought then you can't blame HPI and you were "normal" housebuying age long before that kicked in like crazy.

TighterThanTwoCoatsOfPain

ess0two wrote: »

You can never afford to have kids.....
....When they do decide to leave it'll be in their early 30's after such a cushy lifestyle and small 'keep' payments its all a shock.

Just bolting onto this too... I can still remember about 15+ years ago when my dad said there are 3 things in life that if you wait until you can afford to do it then you never will..

a) Get Married
b) Buy a House
c) Have Kids

He wasnt speaking from the "want it now at any cost" perspective, he was speaking from his generation (when you didnt run up Flat Screen TV HPs and crazy cars and go drinking at £60-£80 a throw) and I still agree that it applies today. Nothing in life has EVER been handed to you a plate.

davilown

TighterThanTwoCoatsOfPain wrote: »

I cant say I agree... As per the OP, if you are a FTB then its the bottom of the ladder where the sights should be set and trading up when you get older.

Eh, why? My OH and I will be FTB and will be aiming to buy a 3/4 bed detached in the Portsmouth (more specifically Hayling Island). Kids are 9 and 11 and the following house (10-15yr time) will be a downgrade, not an upgrade.

We've worked, been through uni, now trying to save as much as possible. Together with a combined income in the region of £65-70k, we will easily afford this with out taken 3x income mortgage (although the current house owners with houses on the market don't realize that house prices are going down:rolleyes:).

I expect these house to come down from the astronomical £280k (same price since Aug 2007) to around £175-190k.

As long as FTB can save enough for a decent deposit, then they should be able to skip at least one rung of the ladder, if not two abeilt at the expense of the seller.

Life happens, get over it

olly300

TighterThanTwoCoatsOfPain wrote: »

I cant say I agree... As per the OP, if you are a FTB then its the bottom of the ladder where the sights should be set and trading up when you get older..
.

I disagree. There is no rule on what a FTB should buy.

My parents, their friends and some of my older friends first house purchases in the 60's were 4 and 5 bedroom houses.

Friends and family who have purchased properties in the last 10 years have purchased anything from 1 bed flats to 4 bed houses as FTB.

The only thing that has determined the property they have purchased has been their salaries regardless of whether they are couples or singles, and the amount of deposit they have been able to save.

Really2

neverdespairgirl wrote: »

I don't think that it necessarily has. My Dad was born in the same house as his older brother, and his parents lived there until they retired.

Slightly confusing did your dads parents buy one house in their lifetime and live in it until they retired.
As your dad only ever lived in one house or his brother?

But I would suspect the early 1900's owner owner ship was not the norm and if you were an owner I would imagine you would be well of so a large house possibly.

I don't know many who have just purchased a house and lived in it for life I cant think of anybody infact who as not increased or decreased the size of their house when they needed too.

Really2

TighterThanTwoCoatsOfPain wrote: »

Just bolting onto this too... I can still remember about 15+ years ago when my dad said there are 3 things in life that if you wait until you can afford to do it then you never will..

a) Get Married
b) Buy a House
c) Have Kids

.

I have not heared that for years.