An entire generation locked out of property ownership

IveSeenTheLight

PasturesNew wrote: »

People on MSE often talk of inheritance.... my grandparents are dead (1971 and 1984) and they had a council house. Others died 60 years ago and 45 years ago - lived in rented after they lost everything in the war.

As for my parents - anything that could have come from that direction needs to be split several ways - and I think they're most likely to be in a home, so that'll use it all up.

Do you have anything you will be able to pass on?

IveSeenTheLight

PasturesNew wrote: »

For people who are living in the same area as family, one option of sharing is to buy a bigger house and live in half each. If you compare the size of a £300k house to a £150k house it's not twice the size, they're more like 3x the size and with big gardens too.

My out-laws wanted us to buy a large house and they would live in the attached granny annex.

I wasn't afraid of living with them but didn't want the size of mortgage it would take despite them offering to use their equity towards the property

http://www.rightmove.co.uk/property-for-sale/property-33133760.html/svr/3109;jsessionid=05F9E71F71E543380A069F73CC5753EF

PasturesNew

IveSeenTheLight wrote: »

Do you have anything you will be able to pass on?

I plan to spend it all, I've nobody to pass it to.

IveSeenTheLight

PasturesNew wrote: »

I plan to spend it all, I've nobody to pass it to.

Enjoy your retirement then

Shakethedisease

My problem with renting is that nobody would want to share with somebody who slobs around in leggings/a loose T shirt all day, eating endless toast and permanently glued to the Internet .... somebody who was up all night and going in/out of the house and pacing about/prowling about the house in the dark silently. Bit bl00dy odd and creepy to live with me.

OMG, that's what my OH puts up with !!!

There are, you just need to locate to where they are, if your serious enough about getting a job.

I love 'just' relocate bit lol ! Now, do you get the job before the house, or the house before the job ? Bearing in mind you're on £65 a week to fund the relocation ? ?

PasturesNew

IveSeenTheLight wrote: »

My out-laws wanted us to buy a large house and they would live in the attached granny annex.

I wasn't afraid of living with them but didn't want the size of mortgage it would take despite them offering to use their equity towards the property

http://www.rightmove.co.uk/property-for-sale/property-33133760.html/svr/3109;jsessionid=05F9E71F71E543380A069F73CC5753EF

This, at £324k, started off as two houses... so plenty big enough for two lots of people to live comfortably, without one being squeezed into a granny annexe.

http://www.rightmove.co.uk/property-for-sale/property-26628196.html

Certainly a lot larger than any two £160k houses.

IveSeenTheLight

PasturesNew wrote: »

This, at £324k, started off as two houses... so plenty big enough for two lots of people to live comfortably, without one being squeezed into a granny annexe.

http://www.rightmove.co.uk/property-for-sale/property-26628196.html

Certainly a lot larger than any two £160k houses.

It's a 4 bed house, not exactly sure it's large enough (in my opinion) for a famaly and granparents.

P.S. the granny annexe wasn't exactly a squeeze on the previous property I linked, indeed the "guest wing" has it's own kitchen, bathroom, sitting room and "generous" bedroom.

It's interesting there are limited internal pictures of your property. I wonder how much work is required.

IveSeenTheLight

Shakethedisease wrote: »

I love 'just' relocate bit lol ! Now, do you get the job before the house, or the house before the job ? Bearing in mind you're on £65 a week to fund the relocation ? ?

Personally, if I could not find a job in my locale, I'd rent / B&B in the location I did find a job and then look for a more secure residence afterwards.

P.s. where does the £65 per week relocation come from?

PasturesNew

IveSeenTheLight wrote: »

It's a 4 bed house, not exactly sure it's large enough (in my opinion) for a famaly and granparents.

P.S. the granny annexe wasn't exactly a squeeze on the previous property I linked, indeed the "guest wing" has it's own kitchen, bathroom, sitting room and "generous" bedroom.

It's interesting there are limited internal pictures of your property. I wonder how much work is required.

I could have found more/better, just grabbed the first I found to be honest. Loads of places. I was looking the other day and if I bought with my sibling, they could give up their small 3-bed semi and I could give up what'd me a 2-3 bed semi - and between us we could have a huge, detached place, with conservatory, garage, huge garden and full on panoramic sea views.... less than 1 mile from where my sibling currently lives. Of course we'd kill each other, but sub-dividing the right place can often give you much more space and in a much better location.

Consider two £100k studio flats -v- a 3-4 bed house. Loads more space. But it needs to be the right shaped space, which could be found if one were to wish to do it and start looking.

So, if parents had this in mind from the outset, once a child wanted to get their own place it'd be a case of all of them moving to a larger place and being in on the mortgage.

PasturesNew

IveSeenTheLight wrote: »

Personally, if I could not find a job in my locale, I'd rent / B&B in the location I did find a job and then look for a more secure residence afterwards.

P.s. where does the £65 per week relocation come from?

The thing is a lot of employers won't even interview people from miles away. I've even seen it on MSE in various discussions asking employers how they choose who to interview. So there you are .... where do you move to that you think the jobs might be at. Bearing in mind you don't get a job simply because you applied ... you need to know which town/s are most likely to yield a better result.

The £65 the other poster referred to was most people's dole money. Which is what a lot of people would be having to relocate with.

Where does one stand a better chance of finding a job that one could actually get.... that's the thing. If you're out by 100 miles then you're still trapped in the first AST, while having to relocate a 2nd time. B&Bs out of season, with fittings falling off the wall, are still £600/month.

I've relocated loads of times. Last time I booked into a hotel, then found a house-share, then rented a studio.... thing was it was at the start of the recession - 2 years on, no job still. Agencies didn't even have anything going. So I was due to relocate again and mid-move my new place was pulled from under me....

So ... where... the big question. If people aren't getting jobs when they've got XYZ, then how can a random person turn up in a town and get one when they've not really got XYZ?