Dont want to be stuck in a rut

rilou81

I moved out at 19, same reason wanted independance. Best thing I ever did.
I rented until I was 24 and then bought a house with my now husband.
I have 2 views looking back. Renting was great, I was allowed to move where I wanted when I wanted (and I did) I could pack up and leave to go travelling (I did this also a few times) When things broke they were fixed by someone else. I spent all my money on me, going out new clothes and having great holidays.
The other side was I do sometimes think if we had bought earlier we would have had much more equity then we have now and a bigger deposit for our next home. We even looked at a new build when I was 21 that cost 90K, now costs near 150K. Looking back I wish we had bought it.

I know I am contradicting myself but want you to see both sides. I would not change anything as I was not ready to be tied down at 21 or 19 for that matter, I do not know you and you very well may be ready but ask yourself if you honestly do not want to move areas in your youth or go travelling again. I am almost 30 and still asking myself these questions now!

As for renting and having nothing to show, I bought 5 years ago and I am trying to sell my house.....it very well may end up with us having nothing to show. A mortgage does not mean you are automatically going to have money when you sell, I am learning that hard lesson now. We are moving to south yorks asap and cant sell our home. I am now wishing we had rented for the last 5 years as we could have already moved. All our plans are on hold until this sells and we are going to have to do the dredded thing that I have not done since I was 19....move in with my mum and dad!!!! Don't knock living with them as you never know when you will need your bedroom again!

Hope this gives you somethings to think about. Good luck

poppysarah

I left at 18 but whizzed off to uni the other end of the country. I can see the appeal but it's horribly expensive to buy at the moment.

Save. Save like fury. If you want a house then cut back on all the expensive stuff and save to the max.

somethingcorporate

Give it a few years and some experience of renting. I doubt you earn enough to support a mortgage I am afriad.

martindow

If you want independence the last thing you need is to be tied down with a house and financial commitments like a mortgage. This is the way to be stuck in a 25 year rut (if that is how you see it).

Stay at home, save as much as you can, go travelling again if you wish or keep the cash towards a house deposit maybe some time in the future when you have decided where you would like your life to take you.

Hammyman

Craig_Donny wrote: »

As for how much i earn, i dont know, i have only had my job 3 or 4 weeks so not had a full pay. It will be around 1100 i think.

As for savings i have 6k but i also have a 4k motorbike so i would sell that if i was going to buy a home.

You've got no hope in hell of getting a mortgage off anyone, even the sub-prime lenders.

You need to be employed in the current job more than a year and the £6k savings you have would just about cover legal fees and buying furniture etc and you've basically got nowt for a deposit.

And with a £13,000 a year salary, you'd not even get a £60,000 mortgage. Even in Hull you'd struggle to find a house for £60k.