Saving for a house

soulman247

hi

i am Tony Salmon aged 18 looking to buy a house/flat soon as maybe a 2 bebroom so i can rent 1 room

1)how much should i save each month
2)were should i save the money each month (what type of saving account for 18 year old)

mynameisdave

How much you should save depends on what price range you are looking at, and how much you currently earn v essential outgoings.

In addition to your deposit you could need around £3,000 for solicitor fees, and moving costs. If you don't have furniture to move then you're going to need to spend more money buying things like appliances, setee, beds, everything right down to a kettle and cutlery.

BargainGalore

1. as much as you can afford
2. Isa account that has easy access like satander


The bigger the deposit the better

Also it does help have some credit so you can build up a credit history and just pay it off each month say weekly shop on credit card but pay it off by end of the month

interest rates are low so you lucky to get 2.5%+

If you managed to save enough bare in mind additional costs moving, fees, work on house, utility bills all can add a fair bit

soulman247 wrote: »

hi

i am Tony Salmon aged 18 looking to buy a house/flat soon as maybe a 2 bebroom so i can rent 1 room

1)how much should i save each month
2)were should i save the money each month (what type of saving account for 18 year old)