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

misscutiepie1984

http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=4687361#

http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=3368406

hope this works just found a few examples of what can be bought in Reading for around 130k mark

exitroute?

This will ruffle a few feathers but why not join all social housing choice based lettings schems in your area? The fact that you live in private housing is irrelevant and your application has to be considered. It may mean limited choices to less popular properties but, once in there, as employed SH tenants you would qualify for Govt Homebuy schemes and be able to buy a house at 75% of market value. It would only be a temp situation and potentially save you a massive amount of money.

Milliewilly

Nixer wrote: »

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.

In 2007 you could get a base rate tracker of +0.17%. So some of us are paying less than £800 in mortgage payments. You didn't have to buy 10 years ago either.

Turnbull2000

Maybe if people stopped obsessing over joining the scam know as the property "ladder" (that phrase make me cringe), prices wouldn't be so high?

sugarpants_2

I do work as I stated in a few posts back!! And all my wages go into our savings:rotfl::beer:

savingmummy wrote: »

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

sugarpants_2

[EMAIL="LOL@NIXER"]LOL@NIXER[/EMAIL] me too..I never understood those couples either! Mustve hated each other, I think your right. Thanks for your post!! x

Nixer wrote: »

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_2

I see your point. Do you know where we can find out about social housing? I have a friend and her partner who have done this for a few years now and their rent is soooo cheap and they both work too. (They have 2 children in a flat but they tell me they save loads of money!)

exitroute? wrote: »

This will ruffle a few feathers but why not join all social housing choice based lettings schems in your area? The fact that you live in private housing is irrelevant and your application has to be considered. It may mean limited choices to less popular properties but, once in there, as employed SH tenants you would qualify for Govt Homebuy schemes and be able to buy a house at 75% of market value. It would only be a temp situation and potentially save you a massive amount of money.

sugarpants_2

Thanks MCP
I really like the first one. Looks like it needs doing up but wow the price is amazing! And its not far from where we are now!how much have you got saved up so far hun?

misscutiepie1984 wrote: »

http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=4687361#

http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=3368406

hope this works just found a few examples of what can be bought in Reading for around 130k mark

StiflersMom

sugarpants wrote: »

I see your point. Do you know where we can find out about social housing? I have a friend and her partner who have done this for a few years now and their rent is soooo cheap and they both work too. (They have 2 children in a flat but they tell me they save loads of money!)

I think some sort of Shared Ownership option is probably your best bet. It will allow you to keep your hand in the property market, and then buy more or all of the house, if your finances permit at a later stage.


The Social HomeBuy scheme might also work for you.

There is a good explanation of the government help you can get to buy your home here:
http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/HomeBuyingSchemes/DG_4001347

misscutiepie1984

sugarpants wrote: »

Thanks MCP
I really like the first one. Looks like it needs doing up but wow the price is amazing! And its not far from where we are now!how much have you got saved up so far hun?

I have 5.5k invested in my companys shares.... need to pay of my last bit of debt and will save for a few more years. hoping to have 20 - 30k deposit within the next 4 years.