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

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Comments

  • Hmmm...even more depressed now:(
    SAVING FOR OUR FIRST HOUSE DEPOSIT

    15,000 NEEDED /35,000 SAVED SO FAR! :j
  • VIGILANT22
    VIGILANT22 Posts: 2,516 Forumite
    sugarpants...the answers are never going to change, no matter how many times you ask....you will have to double your income...you work nights, your husband work days etc, if you so badly want to own a house..
  • lincroft1710
    lincroft1710 Posts: 19,090 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Works in IT too. but for family business which is struggling.
    He may have to look elsewhere soon.


    This is the second good reason for him to start looking now rather than soon. First being you want to join property ladder.
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    sugarpants wrote: »
    WOW 40..did he get a 30 yr mortgage? If so hell be paying it off still when hes 70 :(
    No, a 25 year mortgage... and he cleared it off early because he bought just once, no moving to different houses until he was retired. As his salary was increasing, he'd pay just a bit more here and there - and over the years it adds up.

    Once retired, he sold that one and bought a house at the coast with a few quid left over (not much, just a few quid that probably paid the fees/removals).
  • chinagirl
    chinagirl Posts: 875 Forumite
    I feel for you Sugarpants. We rented for 9 yrs, and when you work out how much you have paid out in rent. But take heart, you have to pay to live, whereever you are, be it rent or mortage - it is better to live in a comfortable home and be happy in it, rather then exist in a hovel, just to save money. You never know what will happen in the future, so no good making large, extensive plans.
    keep smiling,
    chinagirl x
  • savingmummy
    savingmummy Posts: 2,915 Forumite
    Debt-free and Proud!
    Can you not go to work and use part/all wages for the house savings?
    It would make things better and that house may come sooner then you think x
    DebtFree FEB 2010!
    Slight blip in 2013 - Debtfree Aug 2014 :j

    Savings £132/£1000.
  • sugarpants wrote: »
    so....is it worth it for us to keep carrying on saving for the rest of 2010? We should have 10k by December??

    It's ALWAYS worth it to save! Forever. Even if you never buy a house or don't for the next 20 years. Mind you, you could save on rent and move to somewhere like Hounslow.

    You are living in the most expensive part of the country and your expectations are high. Not a good combination if you want to avoid disappointment
  • Nixer
    Nixer Posts: 333 Forumite
    I am a wee bit suspicious of the people who are telling you that their mortgage payments are less than your rent. I think either

    a) they bought more than about ten years ago
    b) they are not living in a house similar to yours but a worse one so not really comparable
    c) they're only paying the interest off
    or
    d) they're lying

    I suppose there might be some areas where renting is more expensive than buying at the moment, maybe areas with a surplus of new build yuppie flats that they can't sell or something like that, but I expect they are few and far between. We did the research before we sold our house on Hants/Berks border and it made sense for us to go into rented (so that we could move to a nicer area - our rent was more than our mortgage payments but the house was larger and in a rural area).

    I agree your expectations are a wee bit high given that you have 2 kids as well and you're quite young. I think you are doing well to meet all your living costs and put aside money too. You definitely need to keep up with the saving and you probably need to increase your household income or move to a cheaper part of the country or both.
  • Nixer
    Nixer Posts: 333 Forumite
    Just did a rightmove search and a few in Reading/Tilehurst came up at 100k.

    You could possibly do the "relocation relocation relocation" thing and go and live somewhere really cheap and then partner rents a room M-F near Heathrow. I always though the couples that did that did it cos they hated each other though.
  • sugarpants wrote: »
    Hi MCP
    Were in Reading too LOL Do you rent too? Damn expensive place to live..Thats why I havent a feeling were gonna have to move elsewhere. Reading is too pricey. Where in REading can you buy for £140?

    I pay 800pcm for a lovely 2 bed house in coley park my part is nice and quiet you only come down my road if you live there as itn't a through road.

    I always have a look on findaproperty website and see these house pop up every now and then.... yes a lot of them are in whitley but on a better not there are also some in tilehurst. They do need doing up but they are structurally sound its just they need decorating and you would want to put in a new kitchen and bathroom in but in your own time as they are still functional.
    Official DFW Nerd number 227
    Proud to be dealing with my debts!!!!
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