How do I get my Dad off my back?

beaujolais-nouveau

dazeruk wrote: »

The 'biggest' problem I have is my job. I'm a civil servant and must admit that most of the crisis just doesn't affect me. I have a job I enjoy, on a reasonable salary and I'm good at what I do. I'm pretty much protected from the grief of job loss and money worries that a lot of people are suffering from today. I feel a bit cut off and find it difficult to judge the 'real' state of the nation

You've had lots of good advice here. I'd add only two things. One, in the Great Depression, civil servants had to take a pay cut. So factor that into your plans: if the IMF is right, and the UK currently deep recession turns into a depression, Whitehall may be required to accept a pay cut. Second, taxes are going to increase to pay for all the billions of public borrowing, and tax rates will remain high probably for 20 years. So make sure that any mortgage you take on you can service for 25 years on (a) less pre-tax money (while still in the same job, perhaps) and (b) much less after-tax take-home money.

BettiePage

If you're using Rightmove, make sure you also take a peek at Propertybee too.

macaque_2

dazeruk wrote: »

I find myself in the position to contemplate becoming a first time buyer.

I'd slowly saved £15,000 over the last 5 years but house prices increased faster than I could save a sizable deposit.

Then, earlier this year, my parents gave me £20,000 from the sale of my deceased grandmothers house.

So I now have £35,000.

I'm not an expert on financial matters, but I don't see us coming out the mess the world currently finds itself in any time soon. I know house prices have come down a lot but I still think they have a lot further to fall. GDP is predicted to fall 3.5% and another million is expected to join the dole queue.

Yet my Dad keeps badgering me to buy. Every week the phone call, 'What estate agents have you contacted? Which houses are you going to see?'

I think it's wasted effort at the moment. I'm not looking to buy to invest, the house will be my home for sometime. But I think holding off will maybe get me an extra room for guests to come visit or a slightly bigger garden to enjoy in the summer months.

What do I say to my Dad to get him off my back?

Here's what you are looking for:

http://www.wikihow.com/Get-Someone-Committed-to-a-Mental-Hospital

Running_Horse

dazeruk wrote: »

What do I say to my Dad to get him off my back?

Dad, get off my back.

Mrsmoneypenny

We have been in a similar position with our children.

We bought them both houses, they never had a mortgage, we then rented out our sons house while he is at uni to cover his expenses and he was in halls anyway.

Our daughter lives in her house, so we decided we would also give her another 15,000 to decorate, buy furniture, cover any unexpected bills for the new house in the first couple of months she moved in.

She did an awful lot with the money, the house is finished, no problems with unexpected bills, furnitiure bought and paid for.

I was really anxious though that the money might go on a holiday, car, handbags. I suppose I wanted to make sure the money was spent on the right thing - so the act of giving money to someone for one thing that you think is important makes you feel generous but soon turns into something else. I didnt want to control what was bought i just worried that once it was spent there was no more money and things may still need to be got.

Its always your decision what to do with a gift, perhaps if you let your dad know that the money is safely tucked away somewhere and that you dont dip into it for a night out or being extravagant on luxury items he may just feel happy with that.

I decided that in future any monetary gifts may be given once the item is chosen and I know the price. So far that has worked out great for us all, the wedding and the baby items have all been done that way and everyone was happier.

JayScottGreenspan

Mrsmoneypenny wrote: »

We bought them both houses, they never had a mortgage...

Sweet Bejesus.

System

Mrsmoneypenny, can you buy me one as well?

Edit: Tunbridge Wells would be nice, ta.

Pee

Mrsmoneypenny wrote: »

We have been in a similar position with our children.

We bought them both houses, they never had a mortgage, we then rented out our sons house while he is at uni to cover his expenses and he was in halls anyway.

Our daughter lives in her house, so we decided we would also give her another 15,000 to decorate, buy furniture, cover any unexpected bills for the new house in the first couple of months she moved in.

She did an awful lot with the money, the house is finished, no problems with unexpected bills, furnitiure bought and paid for.

I was really anxious though that the money might go on a holiday, car, handbags. I suppose I wanted to make sure the money was spent on the right thing - so the act of giving money to someone for one thing that you think is important makes you feel generous but soon turns into something else. I didnt want to control what was bought i just worried that once it was spent there was no more money and things may still need to be got.

Its always your decision what to do with a gift, perhaps if you let your dad know that the money is safely tucked away somewhere and that you dont dip into it for a night out or being extravagant on luxury items he may just feel happy with that.

I decided that in future any monetary gifts may be given once the item is chosen and I know the price. So far that has worked out great for us all, the wedding and the baby items have all been done that way and everyone was happier.

And what will happen when your children get divorced?

I think there is a huge difference between a healthy chunk for a deposit, which is a bit more than the savings OP has already put together, and buying someone a house.

JayScottGreenspan

Pee wrote: »

And what will happen when your children get divorced?

I think there is a huge difference between a healthy chunk for a deposit, which is a bit more than the savings OP has already put together, and buying someone a house.

Admit it, though, if you could... you might.

Yakubu22

Dan: wrote: »

You should listen to your dad.

The usual desperate doomers will say 'wait', but that's only because their salary is insufficient to buy even at today's prices. You should show your dad this thread, it will give him a good laugh.

Remember prices have fallen 20% - this is already as much as the 90s crash, and the signs are the bottom of the market is near. You could wait 12 months but prices are unlikely to fall by a significant amount during this time (maybe 10% if your lucky), but you run the risk of missing out on the current low-interest mortgage products that are currently available.

Your dad is right, start registering with Estate Agents and, depending on your area, aim to get 6-10% off the asking price while it's a buyers market.

10% is still a lot of money to save! Especially since he will need a mortgage to pay for it.

We all can't be highly paid hot shots with "overly sufficient salaries"...