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How much should one save over and above a deposit...
Comments
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£30k rainy day funds and 10k surplus in case of trouble?? Now your just taking the !!!! out of us all
The £10k is for work that will need doing, but hasn't been picked up in the survey etc. Call me an optimist :j
The rainy day funds - we're both self-employed, so no sick pay, maternity pay, can go for a while with money owing to us, etc. Wise to have a cushion....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
:eek:
That added together is 3 times more than the house I've just purchased :money:
£445,000 mortgage, too - and we're not buying a mansion, a 3 bed flat!...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: ȣ445,000 mortgage, too - and we're not buying a mansion, a 3 bed flat!
Aah I've just seen your location is Central London, explains it all
Good Luck with it all0 -
Central London is not a place for tight people..i just could not spend 300k on what is a flat that would cost 100k or less here up north..i do not envy you for one minute..we paid 180k and that is a lot for a ftb up here but we got an amazing 4 double bed house with three reception rooms and a office.
London thanks but no thanksIt is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
We are planning on putting up a £35,000 deposit on a house/flat costing a maximum of £140,000. We're keeping back £10,000 on top of fees.0
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Central London is not a place for tight people..i just could not spend 300k on what is a flat that would cost 100k or less here up north..i do not envy you for one minute..we paid 180k and that is a lot for a ftb up here but we got an amazing 4 double bed house with three reception rooms and a office.
London thanks but no thanks
Well, we're spending £690k plus the renovations plus the stamp duty and fees. A 3 bed flat....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Not moved in yet but the process is all going through and we've got the following costs on a 215k house:
- Solicitor fees + all searches = £1300
- Mortgage fees + valuation + survey = £1200
- Stamp duty = none (FTB)
- Moving costs = none. Close to home so can use own car/van to transport stuff.
- Appliances and furniture for moving in = £2000. Have a fair bit already and a fair amount is being left by vendor.
- Decorating + work doing on house = £5000. Basically making the house our own and any immediate work doing to the house like replacing the fencing and a couple of windows etc.
- Emergency fund = £2000. Just incase anything goes wrong, although we can always dip into the 5k above as this is not urgent work.
And the deposit on top of all that obviously.
Don't think I've missed anything!0 -
Powerful!! up up up up up up up up up up up !0
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Well, we're spending £690k plus the renovations plus the stamp duty and fees. A 3 bed flat.
Ok, but that's a 3 bedroom flat in somewhere pretty upmarket I'm guessing? Because I can still see reasonable 3 bed flats 20-25 mins out from Central London (Bromley or the like) for about £180k.
It's all relative I suppose - folk living in Central London pay for easy access to one of the most fascinating cities in the world (well, to me anyway!)0 -
Our budget on a £110k house is:
Stamp duty: 0
Solicitors: £600 (mortage offer contributes £250)
Moving 150 miles, fully packed service: £1250
Moving classic cars on trailer inc petrol and trailer hire: £200
Mortgage fees: £995 (added to loan)
Survey: £250
Emergency funds: £5000
Once we have the equity from the sale of our current home we have budgeted to spend:
Rewiring £3k
Replacement double garage £10k
Redecorating £2k
Bathroom £1k
Carpets £2k
Furniture £2k
Holiday £1kLive on £11k in 2011
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