Help and advice greatly appreciated...

Marca_2

Hi all, first post go easy on me!

My partner and I are in a quandry about our first home. We have a seen a very nice place, ideal in style, location and such like and have paid a nominal fee to take it off the market. We are now, however, very worried about our capabilities to actually purchase the house.

We have (in my opinion any way!) as good a deal from the builder as possible, meaning most of our legal costs are paid for plus we have a substantial amount to choose are own options, such as a fridge freezer, oven upgrade etc.

We would be working on an 85/15% deal from the builder. This is where the problem begins... in my opinion we dont have enough cash to set up a home. We have been bargain buying etc over the last year or so as well as saving (we can kit the house out with everything except furniture which we could only work out requirements when we get measurements etc). The issue is after saving for a deposit, building fees etc (we are due to complete in Dec 2011) we will have between £500 - 1k left... I dont think thats enough.

I worry when I read this site and see people (well done to these people btw) that have 20, 30, 40 grand saved for a deposit.

I think thats about it, Ive most likely missed something so if any one needs any more info just shout

Looking for all opinions really. When we get in and a couple of months down the line I think we can comfortably afford to live. Sadly we dont have parents who are able to lend or give us big sums

Id really appreciate any help, feedback. Its taking over my life! Would really like to hear from any one in same position (if there is any one!) too.

Thanks for reading, go easy on me!

PasturesNew

You don't need anything beyond something to hang at the windows, something to sit on (beanbag) and a blow up mattress. You'll have an oven that''s needs covered.

~Beanie~

As above.

When I moved into my first home (rented, not bought), I had a bed and a TV which I brought with me from my mum and dads house. I borrowed 2 sun lounger type things to sit on. I had no fridge so stored my milk/cheese etc down the cellar 'cos it was cold and no washing machine so went to the laundrette.

I bought the rest as and when I could afford. 2 two seater sofas came first along with a fridge, then a wardrobe and a dining table/chairs, all the rest followed over time.

Nothing was top of the range and most wasn't even brand new but they did the job until I could afford to replace them further down the line.

It depends how much you want your house really. Would you be kicking yourself further down the line if you could afford to buy the furniture but could no longer afford a house?

devotee

You can furnish your house for free on freecycle, people give away lots of stuff, some great, some not so great, but until you save enough to buy what you like that would be a good idea. Buy the house, you have plenty of time to furnish it

FireWyrm

Try the local dump, you'd be shocked at what people throw away. Most dumps have a 'shop' where you can purchase all sorts of stuff. The other option is the local 'Age Concern' warehouse which usually has old but perfectly servicable stuff for very little. My first house had an old oven we salvaged from the dump, a bean-bag that was given to us, an old bedstead and mattress that the parents in law gave us and some basic bed linen and blankets. We had a couple of towels and an airdryer rack. Food was kept on a shelf in the garage for the first week until we could rustle up a fridge which I bought from a friend and I washed clothes by hand in the bath for the better part of 6 months. It can be done, honestly, and in a few years, you'll look back and chuckle at how you thought life was so 'hard' then. The trick is to keep laughing.

princeofpounds

You are cutting it very fine. What happens if there is an unexpected fee or a legal hiccup that inflates pre-existing fees?

Once you are completed and in, as the others have said, then penury is less of an issue as long as you can make the mortgage payments. You can live the minimalist style for quite some time and accumulate temporary furnishings etc.

You could probably get a commercial loan if absolutely necessary, though I'd avoid it if at all possible! You might also be able to squeeze the builder just a little more as they are unlikely to want a sale to fall through.

PPPingu

Sadly up our way, you're not allowed to take stuff from the dump, something to do with council being liable if you injured yourself with something you took home.
it really sucks, because I've seen some great stuff there - can't believe what some people throw out!
One man's trash is another man's treasure and all that...

nomoneytoday

The first year is always tough.
When I moved out there was always "another" bill. As well as the usual utilities etc, for example a £100 bill landed for cleaning stuff (buckets, laundry baskets, washing liquid, febreze etc)

FireWyrm

PPPingu wrote: »

Sadly up our way, you're not allowed to take stuff from the dump, something to do with council being liable if you injured yourself with something you took home.
it really sucks, because I've seen some great stuff there - can't believe what some people throw out!
One man's trash is another man's treasure and all that...

Milton Keynes dump has a 'shop' which is really just a couple of cargo containers (or it did when I last looked). You aren't allowed to just 'take' stuff as this is classed as theft, but you can certainly buy anything from the shop. The prices are reasonable and there's always room to haggle. We bought some absolutely beautiful coffee tables complete with glass and a set of draws that I swear are oak, they're pretty solid. Cost us £20 for the lot.

celyn90

Hi Marca, welcome to MSE

We have just moved into our first home, which is a renovation project. We had no running water for the first two weeks, we still have no bathroom - other than the loo (which works!) but are lucky that we can shower at work.

We have no clear rooms as the two completed rooms (small bedroom and lounge) are full of boxes still as we have been in three weeks and haven't unpacked. The main bedroom is doubling as a workshop. We have no kitchen, no white goods other than a second hand fridge and are cooking on a plug in two ring hotplate. We are sleeping on a futon I bought on ebay for £20. We have no hot water and haven't switched the gas on yet. Our closest laundrette is 2 miles away, but we can get a weeks laundry in a hiking rucksack and cycle there.

Our first two weeks were spent making the upstairs floors sound, fixing the plumbing and removing massive amounts of junk from the place. This is no mean feat if you don't normally drive

Despite all this, I'm really enjoying the whole process. We spent last night tiling the bathroom. It will be worth it once it's done.

It's doable if you don't mind roughing it for a bit - and it doesn't sound like you will be to that extent, just that it might be a bit spartan for a while. If it's furniture you are worried about try
http://www.localbargainfinder.co.uk/ for looking for collection only ebay bargains in your area, freecycle/freegle for things and it's worth looking to see if you have a local scrap store, a salavage yard or a charity furniture store near you too. It doesn't have to all match right from the start.

What I am trying to say is that it isn't home comforts that make somewhere home. As long as you have something to sleep on (and in our case, nerves of steel and a sense of humour!) then it will be okay Good luck with your move, cel x