How does anyone get onto the property market??

DancerSupreme

We are first time buyers with a young family. I am 25 and hubby is 28 and our children are 2 years old and 2 weeks old.

We are looking at only being able to borrow £105,000. Properties in our area are pricey. A two bed property is averaging £150,000 and that is in the worst parts of town!

How the hell are we going to get on the property ladder?! We are going to need to try and save nearly £50,000 - so far we have £5k.

How does anyone do it these days?!

GAH

Very few people are able to get everything they want from their first properties.

Depending on where you live, it might just be worth holding on for a while as prices are dropping slowly and will continue to do so.

Best thing to do is write a list of things down which you will comprise on and won't compromise on.

When I bought my first ever property, I would never ever considered living there, but I liked the house bought it and even though the area wasn't the best, i learnt to deal with it and enjoyed living there.

CLAPTON

whats your salary / income

mustrum_ridcully

Save... Average age of a first time buyer is 38 http://www.independent.co.uk/life-style/house-and-home/property/no-place-like-home-the-generation-who-cant-afford-to-buy-1921781.html

So at 25 and 28 you're still quite young.

DancerSupreme

Hubby is £25,000 and I am £12,000 as I am part time.

We need a three bed so a 2 bed is already one compromise. The areas where the affordable properties are, are full of drugs and crime. I really cannot even consider moving my family to that. I didn't think £150,000 was unrealistic. We have found a couple of properties that fall into that price bracket - one which I adore - but its the mortgage side of things. Also hubby has had a DMP in the past so that will hinder us too.

I am just totally fed up with paying someone else's mortgage in our rented property. I want my own place now.

xxx

DancerSupreme

mustrum_ridcully wrote: »

Save... Average age of a first time buyer is 38 http://www.independent.co.uk/life-style/house-and-home/property/no-place-like-home-the-generation-who-cant-afford-to-buy-1921781.html

So at 25 and 28 you're still quite young.

So sad that my children will nearly be old enough to join the army by the time I can afford a family home

FTBFun

This may sound a little harsh, but not racking up £30k of debt might have been a good start.

Caroline73_2

Look at how much debt you've paid off though. Once you've finished that then you can save a lot more.

Jack_Johnson_the_acorn

FTBFun wrote: »

This may sound a little harsh, but not racking up £30k of debt might have been a good start.

Harsh but true, We have chosen not to have children as we realised that we couldn't enjoy the lifestyle that we both enjoy and bring up children. We're happy that life is full of compromises and we can't have everything at once.

puddy

gembaxter wrote: »

Hubby is £25,000 and I am £12,000 as I am part time.

We need a three bed so a 2 bed is already one compromise. The areas where the affordable properties are, are full of drugs and crime. I really cannot even consider moving my family to that. I didn't think £150,000 was unrealistic. We have found a couple of properties that fall into that price bracket - one which I adore - but its the mortgage side of things. Also hubby has had a DMP in the past so that will hinder us too.

I am just totally fed up with paying someone else's mortgage in our rented property. I want my own place now.

xxx

why do you need a 3 bed

do you mean you want a 3 bed?

is it southmpton that you are looking to buy in?

puddy

http://www.rightmove.co.uk/property-for-sale/property-17503677.html

this is nice, road looks pretty but i have no idea of the area