So if the average FTB age is 37......

LittleMissAspie

Danni-R wrote: »

I dont know anyone over the age of 30 that is a FTB.

Me. I bought six months ago aged 32.

1978-1996 at school
1996-1998 at uni
1998-2002 in low paid job in expensive area
2002 met boyfriend and moved out of parents house to different expensive area
2002-2004 at uni, living in uni accommodation
2004-2006 temping, living in private rental
2006-2010 saving 40k for deposit, living in private rental
2010-now homeowner

tara747

IveSeenTheLight wrote: »

Your no different to many people getting their first rung on the property ladder.

I was almost in the same position other than I was buying a 2 bed flat for the same prices as I had previosuly paid for renting a 1 bed place.

No brainer really.

No brainer? How? Buying at the peak of the biggest property bubble in history is better than renting or staying with the folks a while longer?

Can you explain your comment?

musicmaker29 wrote: »

yeah, we've watched many who bought a few years back struggle with negative equity. Luckily though, our house was bargain (although slightly 70s in decor - ok VERY 70s in decor lol) and I'm in an area where we didn't get the massive rises and haven't had too much of a fall (yet....) - I do wish the prices had stayed up but in reality it hasn't locked me in my house, i bought it for 35k less than the 'going rate' on our street at the time and that means that propert prices need to drop a third or so before it meets my original mortgage price.

i just wonder if a number of wouldbeFTBs (not necessarily the ones on here) just want to buy a 'new' or 'ready and done' house to the point where there is not even any papering to do...when they see this is not attainable on their salary they then make out that house ownership is impossible/the world is unfair/etc.

although a mate of mine has done something that is working well for him - he bought a wreck of a house, very quickly did up the key areas and painted two of the 3 bedrooms white then rented them out - the rent covers his mortgage/or thereabouts and he has a roof+spending money - git lol.

See the savings total in my sig? It consists of £1 for every homeowner who tells me that, although they bought around the peak, they were lucky enough to buy a magic house that isn't in negative equity.

p.s. no, we don't want a 'perfectly done' house, although I have to say we can afford to be more choosy these days. The price my friends paid for their 2-bedroom terraced house in a dodgy area in 2007 would now buy a 4-bedroom semi in a way better area. Don't you ever look at what your money could buy you now if you'd waited? I know my friends do, and they kick themselves regularly.

twirlypinky

Out,_Vile_Jelly wrote: »

I'm glad to hear your life has worked out so perfectly for you.

Buying in your 20s clearly makes sense if you are fortunate enough to be absolutely certain of your career, location and life partner. Lucky you if that all falls into place while you're young.

Exactly, we're not all that lucky are we?!

I thought i met my life partner at 16, we bought our first house at 18, we would've been mortgage free when i was about 45.

Unfortunately (fortunately ..?) we split up and now I'm starting again at 29 with nothing, because the house sale left me nothing.

System

I don't know anyone that became a FTBer post-30 but I do know some people that are >30 that haven't bought, but unless I'm mistaken they have no intention to due to cushy circumstances.

I personally bought at 25, certainly wouldn't have done anything different looking back, the (now) wife and I never contemplated renting as we'd never have got a deposit for our own place.

leveller2911

I'm 42 and hoping to be a FTB within the next 24 months.We have a fairly decent deposit of around £38k but its not number 1 on my "To do" list.

Conrad

Out,_Vile_Jelly wrote: »

Buying in your 20s clearly makes sense if you are fortunate enough to be absolutely certain of your career, location and life partner.

This is merely a figment of the way you process the world.

Honestly, me and my mates in our twenties had many uncertainties and worries, but just took the plunge. I had only 5% deposit and no savings really, and could have lost my job.

It's called life - just like lions on a plain taking risks in hunting.

You have to alter your mindset and get over this risk hump, seriously.

leveller2911

Conrad wrote: »

This is merely a figment of the way you process the world.

Honestly, me and my mates in our twenties had many uncertainties and worries, but just took the plunge. I had only 5% deposit and no savings really, and could have lost my job.

It's called life - just like lions on a plain taking risks in hunting.



You have to alter your mindset and get over this risk hump, seriously.

Life is a gamble and good on you that you have been very lucky...Imagine the replies if you were posting the underlined above and then added now I'm losing my job and home ,advice desperately needed...

Out,_Vile_Jelly

Conrad wrote: »

This is merely a figment of the way you process the world.

Honestly, me and my mates in our twenties had many uncertainties and worries, but just took the plunge. I had only 5% deposit and no savings really, and could have lost my job.

It's called life - just like lions on a plain taking risks in hunting.

You have to alter your mindset and get over this risk hump, seriously.

Life.......like lions taking risks hunting..... Do you read a lot of those self help psycho-boll0x books?

Taking out a mortgage isn't the only thing that can define a person as bold, noble and impressive (like a lion, presumably, although I think it's lionesses that actually do the hunting). You do know that there are other challenges people undertake in life and other parameters by which people define themself?

IveSeenTheLight

Out,_Vile_Jelly wrote: »

I'm glad to hear your life has worked out so perfectly for you.

Buying in your 20s clearly makes sense if you are fortunate enough to be absolutely certain of your career, location and life partner. Lucky you if that all falls into place while you're young.

I can accept maybe luck in finding the right partner, the rest is not really luck, it's decisions.

Career - I've adapted, from being an Apprentice, then technician, moving on to Engineering and now being in a more Management role.
There not many people nowadays that have a "job for life" and many regularly need to adapt.

Location - The first year of my apprenticeship involved me moving 60 odd miles away from home. I then also worked offshore / offsite, meaning my home could have been anywhere. My wife (wasn't married back then though) moved away 120 mile for university, so I was pretty much a nomad in those days. Then I accepted a position overseas. In fact, my current stint is the longest I've been in one house, usually averaging a move (from rent, to flat, to upsizing to overseas) every three to four years.
Hardly "certain"

Working and making the decisions earlier in life has certainly benefitted us as a family now were in our 30's.

I would dread to think about starting mid 30's what I did mid 20's

leveller2911

IveSeenTheLight wrote: »

I can accept maybe luck in finding the right partner, the rest is not really luck, it's decisions.

"

Working and making the decisions earlier in life has certainly benefitted us as a family now were in our 30's.

I would dread to think about starting mid 30's what I did mid 20's

So I guess you would agree that if you lost your job, made redundant or became ill then thats not bad luck its due to the decisions you made.........

IMO luck/fortune pays a major part in life, to a certain extent I believe you can influence your life through your decisions but luck plays a Major part in all our lives..

Its kinda strange how we humans don't like to admit luck/fortune as I think we see it as a weakness.....I don't .