We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
rent or buy the eternal dilema
sigrid
Posts: 13 Forumite
:money: :money:
is not in debt and never will be as I am in possession of a brain!
0
Comments
-
ok HERES the situation. Have just started a new job and have NO savings at all but i want some advice before i run into the so called "renting trap"
I calculated (with halifax's mortgage calculator) that I could get "up to" £137,000 (this may sound like nothing if you are down south but I am up north and could easily get a nice starter home for less than this)
I have worked out that some houses are going to work out around £500 a month repayment which is the same amount as we're looking to pay rent!
so my question is really for some advice...
should I save up and not move out of my parents home (move in with long term boyfriend) until we both have enough for a deposit?
also any tips for us? as first time buyers?
as much as I want to move out I dont want to cause ourselves any financial difficulties!
For starters, you'll need AT LEAST a 10% deposit, then another £3000 for solicitors fees, surveys etc... and in general, you can borrow 3x your joint salary. The online estimates are usually to entice you to go see them, but in reality they'll offer less...
I'd suggest you start saving LOTS!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!)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards