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Help! How to save + move out?
cezzy7
Posts: 9 Forumite
Hello!
I have graduated this year and have moved back in with my parents. I would really love to move out and get my own place but I don't know how I'm going to save enough money to do this! I feel renting is a waste of money as saving would be difficult and I only have a low paid job at the moment. Could anybody give me any advice on how to raise enough money to somehow get my own place soon? Or are there any schemes that help first time buyers onto the market?
Would appreciate any comments!!! Thanks!
I have graduated this year and have moved back in with my parents. I would really love to move out and get my own place but I don't know how I'm going to save enough money to do this! I feel renting is a waste of money as saving would be difficult and I only have a low paid job at the moment. Could anybody give me any advice on how to raise enough money to somehow get my own place soon? Or are there any schemes that help first time buyers onto the market?
Would appreciate any comments!!! Thanks!
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Comments
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You're going to need a decent deposit to be honest. What are house prices like in the area?
Aim for at least a 10% deposit. Then when you've realised how much this is.....0 -
Thanks for your reply! I was thinking only an apartment for around 80k - 90k but I just don't know how other people manage to save so much money! I don't want to be living in my parents house for another 5 years!! Is shared ownership a good idea?0
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Have you considered Homebuy?0
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What is that?0
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The best thing to do in your position if you want to save money is stay at home and live with your parents. When you physically can't tolerate it anymore and are climbing up the walls then think about moving. I appreciate that you want your own space but if you start renting now you are limiting your chances of saving up enough money for a deposit and also consigning yourself to a life of bargain hunting and scrimping to get by. Ask yourself if you really want that.
Don't rent - stay at home and watch your savings multiply0 -
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Lol I guess that is the right thing to do! Just hope I miraculously find a pot of gold somewhere! Thank you for your help!
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Earn more money through online surveys and give ebay a go at selling ebooks to gain a little more money maybe £300 a month.0
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There is no easy solution except working like a demon to better your employment prospects and squirreling money away like your life depended on it. Like staying at home and working two jobs, maybe for years or even in the current economic climate, decades.
Currently some lenders are looking at prospective borrowers needing to have a 25% deposit. Think about that for a minute0
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