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What are our chances?

HCassap
HCassap Posts: 5 Forumite
in House buying, renting & selling
My husband earns around £30k
And I earn around £4k
We have 2 children under 2
We privately rent which cost us 695pcm
What are our chances of buying a house at the moment for £110k?

Comments

  • RAS
    RAS Posts: 36,167 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Do you have any sort of deposit?
    If you've have not made a mistake, you've made nothing
  • HCassap
    HCassap Posts: 5 Forumite
    Not really probably a grand or so :)
  • barnaby-bear
    barnaby-bear Posts: 4,142 Forumite
    HCassap wrote: »
    Not really probably a grand or so :)

    Zero chance.
    If you can't save more than 1k - you can't afford to buy/run a house, your finances are to precarious.
  • pinkshoes
    pinkshoes Posts: 20,609 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    To buy a house you'll need a 10% deposit (so £11,000 in this case), £1000 solictors fees, and money for moving costs, so I guess you need to start saving hard!

    If your OH earns £30k, he'll be getting about £1900 after tax, so £1200 after rent. Could you not save say £500 a month? Are you claiming all the relevant child tax credits etc...?
    Should've = Should HAVE (not 'of')
    Would've = Would HAVE (not 'of')

    No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)
This discussion has been closed.
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