Headlines today:If your not on Property ladder now, you have no chance in next decade

fruityfairy

puddy wrote: »

http://www.rightmove.co.uk/property-for-sale/property-17898402.html?premiumA=true

timeless beauty

Wow that does seem to be alot for the money. We have not seriously looked anywhere. I guess when we get to the position where we are ready we will see what we can get. I guess I have been looking at properties thinking they are ok but in reality I propably would not actually want to buy it.

Cissi

I don't know the area at all, but the description for the house in your first post says "Investor alert! Tenant already in place!" so doesn't sound like a viable option - this is probably why the price is so low as it's limited to the BTL market. The second one looks like a distressed sale, priced to sell very quickly. You may be lucky to find something similar when you're ready to buy, but maybe not.

I think puddy may be right that you may realistically need to raise nearer to £70k. Either way, you both sound sensible and you seem to be on the road to getting a deposit together, if you can keep it up. Good luck!

quintwins

fruityfairy wrote: »

Don't jinx me lol. I thought of that as soon as I wrote it

lol twins are twice as nice and a blessing not many people get, but it's also something that no-one plans for, not thats i'd have it any other way

i'm in a similar position to you except that i had my kids early and i'm now done so i won't need to move in 4-5 years time, but we also plan to buy a cheaper less desirable house (we've acually picked our area and there very poplular to rent (near 2 very popular schools) but they sell very cheap -very few over £60k) and then we plan to move later in life and build in the country, the reason we want to buy before we build is basically to save on rent, why should we pay someone elses mortgage

puddy

i specifically looked at 70k 2beds because that way you know that the area will be a little better and the beds will be bigger than those on a 60k. if you get a doer upper then you'll get more for your money but it means that your 800 excess a month will be used up doing things for the next year or so. it is also very hard work and monotonous

is ex council judged badly in sheffield or are buyers just as keen for those types of property? you need to think about your ability to sell it on

fruityfairy

I think you are right about looking for a 70K property. And if we was to get a 90% mortgage it would only take us about another two months to save which will be worth it in the long run. I guess I am just keen to get somewhere before the house price start increasing again..

puddy

fruityfairy wrote: »

I think you are right about looking for a 70K property. And if we was to get a 90% mortgage it would only take us about another two months to save which will be worth it in the long run. I guess I am just keen to get somewhere before the house price start increasing again..

i very much doubt they are going to be unaffordable for you within the next year (if they go up at all)

puddy

http://www.rightmove.co.uk/property-for-sale/property-31229059.html

puddy

http://www.rightmove.co.uk/property-for-sale/property-19649268.html

huge but in a poor state, dont know the area

puddy

lots of room, but needs doing up

http://www.rightmove.co.uk/property-for-sale/property-19307493.html

puddy

i'll stop now