How on earth can two FTBs raise 20% deposits?

greektony

gld73 wrote: »

When did it become necessary to have your first home look like a showhome from Day 1..??!! :rotfl:

When you're gay.

According to the OP before I get flamed

big5

gld73 wrote: »

My first 2 months in my lovely new house, I was sleeping on a lilo borrowed from a friend (a proper cheap holiday lilo, not these new fangled comfy airbeds!!), had 2 deckchairs borrowed from my sister as my living room furniture, and my portable TV was sitting on an upside down cardboard box.

Our house was a bit of a wreck when we bought it (couldn't have afforded it otherwise). We slept on an airbed on the floor for months until we could decorate the bedroom and have a new carpet fitted. Our first night in a proper bed in our finished bedroom was like being in a luxury hotel!

Must be mad, but we're going to view a house this evening that is in a similarly dilapidated state (but larger and in a better location than our current house) - just got to remember all the hard work and discomfort is worth it in the end.

UrWntr

The sense of entitlement around house buying is fascinating.

I wonder if the Ferrari forums are full of people complaining about not being able to afford a Ferrari on a 20k salary?

If you can't afford the house you want on your salary then you need to get a better salary. Easier said than done, but if you really want that house/ferrari it should drive you to succeed.

greektony

UrWntr wrote: »

The sense of entitlement around house buying is fascinating.

I wonder if the Ferrari forums are full of people complaining about not being able to afford a Ferrari on a 20k salary?

If you can't afford the house you want on your salary then you need to get a better salary. Easier said than done, but if you really want that house/ferrari it should drive you to succeed.

........Nice

jonewer

The main issue really is not with raising a deposit.

Want a £100k house? Raise £10k!
Want a £250k house? Raise £25k!
Want a £500k house? Raise £50k!

Its not beyond the wit of the average person and their partner to save £10 or 20 or 50k though it might take a good few years to achieve it. The problem is being able to afford the repayments. Sure you have £50k, but can you afford to service a £450k mortgage? Seriously? And if your budget is tight and you have £25k, can you really service a £225k mortgage?.... and if interest rates go up?

OK, we had a despot of around £260k. That certainly didnt mean we could go and buy a £2.6million house! The house prices are just too damn high!

ReadingTim

Saving for a deposit, affording the repayments on a mortgage, getting yourself out of debt, mortgage free etc are all part of a thing called "living within your means", which seems to fly in the face of the excessive sense of entitlement shown in some of the posts on this thread, board, and other boards (check out the debt free wannabe board for example).

The solutions to "living within your means" is simple, although many seem not to understand them:

1 - earn more

and/or

2 - spend less

kaych

try renting a room rather than a flat. when i first started work, i earned less than 20k a year. but i only had to pay for the room, no bills, internet, council tax etc etc. i actually managed to save £6000 within a year on that salary.. i also walked to work.. i moved close to work to save travel money. so it is possible...

property.advert

Crass stupidity and arrogance abounds here.

Stop wasting cash and save up.