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Will we ever get on the property ladder???????

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Comments

  • squack
    squack Posts: 633 Forumite
    this getting on the property ladder thing seems to be a modern form of slavery..its a trick to make ordinary people work too hard.
    squaaaaaaaaacccckkkkkk!!!! :money:
  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 16 January 2010 at 4:47PM
    sugarpants wrote: »
    Sorry guys having a 'down' day.

    Im 31 years old (DH is 30) and were currently saving deposit on a house. We live in rented (£895 pcm,3bed semi in Berkshire) and were fiding it so hard to save.
    We manage to save £500 a month which we stash away in a savings account but then we end up using the credit card for food shopping and extras :(

    So if we didnt save we could live comfortably. Were having to give up socailising, good food, sky, kids new clothes..

    Is it really worth it? What will lenders give us on a joint salary of 28k?:( Can someone give me hope and tell me how much we would get and wht we could buy in the South? We really need a 3 bed house if possible.

    Could you downsize or move to a slightly cheaper area? Do you know where every penny goes each month, or is there £50 here and there cash withdrawals that you can't account for? Do you need the car(s) you have, could you manage with one less or a cheaper model? Do you really need to stay in the south?

    Which room in your house is the least used - your bedroom, dining room? I bet you aren't in there in the daytime. Why not create an office area, there are so many amazing pieces of dual purpose furniture these days: foldaway wall beds, foldaway desks, both in one item ... http://www.bonbon.co.uk/clei/index.htm
    http://www.studybed.co.uk/
    http://www.spacesavingbeds.co.uk/

    If you have a house you don't have to give up socialising, you just need to look at it differently! Have you read this book, which gives you loads of ideas on having fun on next to nothing:
    http://www.amazon.co.uk/exec/obidos/ASIN/1906593124/ref=ox_ya_oh_product

    You certainly don't need to give up good food, although you might need to cut down on expensive meat! Do you cook from scratch or grow your own vegetables? Have you got Jocasta Innes 'The Paupers Cookbook', Delia's 'Frugal Food', 'Frugal Foodie', 'The Accidental Vegetarian'? Order them from the library for free. :money:
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • Cant imagine us in a flat with 2 kids growing fast! and dh at home working 2 days week hoping to work from home 5 days a week soon...GGR
    Nice if your a couple or single professional though...:confused:Thanks for you post though..Its worth thinking about...Be cramped but it would be ours I guess
    :D You just have to start small eg a flat and work your way up if you're confident the market will rise. Or move somewhere where properties are cheaper - there is life north of Watford Gap ;)
    SAVING FOR OUR FIRST HOUSE DEPOSIT

    15,000 NEEDED /35,000 SAVED SO FAR! :j
  • Has anyone gone to a building society/bank/ifa with 28k joint salary and 10k saving? What did they offer you in mortgage terms?
    sugarpants wrote: »
    Cant imagine us in a flat with 2 kids growing fast! and dh at home working 2 days week hoping to work from home 5 days a week soon...GGR
    Nice if your a couple or single professional though...:confused:Thanks for you post though..Its worth thinking about...Be cramped but it would be ours I guess
    SAVING FOR OUR FIRST HOUSE DEPOSIT

    15,000 NEEDED /35,000 SAVED SO FAR! :j
  • Thanks.
    Meant to add we pay off the full balance on our credit card which we use for food. Never going down that DEBT road again!!!!!!!!!!:money:
    Fire_Fox wrote: »
    Could you downsize or more to a slightly cheaper area? Do you know where every penny goes each month, or is there £50 here and there cash withdrawals that you can't account for? Do you need the car(s) you have, could you manage with one less or a cheaper model? Do you really need to stay in the south?

    If you have a house you don't have to give up socialising, you just need to look at it differently! Have you read this book, which gives you loads of ideas on having fun on next to nothing:
    http://www.amazon.co.uk/exec/obidos/ASIN/1906593124/ref=ox_ya_oh_product

    You certainly don't need to give up good food, although you might need to cut down on expensive meat! Do you cook from scratch or grow your own vegetables? Have you got Jocasta Innes 'The Paupers Cookbook', Delia's 'Frugal Food', 'Frugal Foodie', 'The Accidental Vegetarian'? Order them from the library for free. :money:
    SAVING FOR OUR FIRST HOUSE DEPOSIT

    15,000 NEEDED /35,000 SAVED SO FAR! :j
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    To be honest, you're not even at the "average FTB age" yet. My dad bought his first house when he was 40, I bought mine when I did.

    Play the long game.
  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Sorry I edited my post a bit late! Also IKEA do a double bed 'on stilts' (like a bunk bed), space underneath for a desk IIRC.
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • WOW 40..did he get a 30 yr mortgage? If so hell be paying it off still when hes 70 :(
    To be honest, you're not even at the "average FTB age" yet. My dad bought his first house when he was 40, I bought mine when I did.

    Play the long game.
    SAVING FOR OUR FIRST HOUSE DEPOSIT

    15,000 NEEDED /35,000 SAVED SO FAR! :j
  • Milliewilly
    Milliewilly Posts: 1,081 Forumite
    sugarpants wrote: »
    Cant imagine us in a flat with 2 kids growing fast! and dh at home working 2 days week hoping to work from home 5 days a week soon...GGR
    Nice if your a couple or single professional though...:confused:Thanks for you post though..Its worth thinking about...Be cramped but it would be ours I guess


    Well the thing is with property at current prices you are going to have to comprimise if you want to buy somewhere- 2 bed flat, kids share bedroom, desk in the lounge?? I agree £895 pcm rent is horrific.
  • I know theres life up North. Im thinking of moving to Northampton way as a 3 bed house is only 100k.
    But DH works near HEathrow so we are hoping somehow he could work from home 5 days so we could live ANYWHERE in the UK!:D
    :D You just have to start small eg a flat and work your way up if you're confident the market will rise. Or move somewhere where properties are cheaper - there is life north of Watford Gap ;)
    SAVING FOR OUR FIRST HOUSE DEPOSIT

    15,000 NEEDED /35,000 SAVED SO FAR! :j
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