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How on earth can two FTBs raise 20% deposits?
Comments
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MonkeySaving? wrote: »!!!!!! has that got to do with anything? Are you expecting some kind of discount?
A government grant would be handy.
I was referring to the cultural stereotype that homosexuals have nice houses, but whatever, Daily Mail reader... 0 -
After tax, you each earn £1330 a month. Thats nearly £2700 a month. If your rent is £600 and everything else is maybe £700, then you should be able to save £1400 a month, nearly £17,000 a year. I don't know where you are looking to buy but that is larger than a 10% deposit in many parts of the country. 2 Years of that and you are at £34,000.
It may mean you can't go out so as often, but you have to make sacrifices if you want to buy a house. That's the way it has always been.0 -
Renting really isn't for us - to be honest, we're gay, we want to decorate and buy nice things and we can't do that in a one bed 3rd floor flat with the lounge/kitchen only big enough for the tv, a sofa and a dining room table... The minimum we want is a two bed house.
Until now, I never understood how hard it is to be gay. As a straight couple, we only ever wanted crap things and never wanted to decorate.0 -
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tonycottee wrote: »Until now, I never understood how hard it is to be gay. As a straight couple, we only ever wanted crap things and never wanted to decorate.
Hey, it was meant as a jokey sort of flippant remark. However, I bet you're one of those who moan that "there's never any straight pride".0 -
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You mean you choose not to live like that. Sell some furniture and put it towards the deposit. If you really wanted to buy a place you would get on with making the necessary sacrifices, instead of moaning about it.We can't live in a studio flat. We have too much furniture and can't live like that!
This must be a wind up. Limited edition toilet?Been away for a while.0 -
You can't have stuff and a house.... choose. Stuff or a house.
Once you've got the house you can have stuff.
Fact of life.0 -
Firstly, welcome to the big wide world!!:p
Me and my other half were 22 and 21 when we graduated. I started on 13k per annum at 22 and now I'm on 30k per annum at 28. I've worked by butt off to be where I am. My other half started at 12k per annum and only recently reached an earning 18k per annum.
We've been renting for 6 years (£575 pcm) and we have saved 30k for our house deposit.;)
How we managed that?
a) Setting a target to save £3k every year
b) Increasing our savings target when we got a pay rise.
c) Living within our means!! (some people call it frugal)
However, that doesn't mean you should not live your life. We still spent on special occasions, had 2 cheap holidays a year, every 3 years we would have 1 big holiday and even managed to save money to get married.:D
So what we didn't have? We didn't buy a brand new expensive car on finance (we bought a 2nd hand kia picanto, cash), we didn't go out drinking or partying every friday (we went out once a week spent on average £15 max each), we didn't spend on extravagant clothing or jewellery, we didn't spend on the latest technological gadgets (for example we bought our first television in 2006 and it was a 2nd hand 26inch Panasonic CRT and only replace it this year with a 40inch Sony LCD since the Panasonic CRT started having problems), and we made sure we got ourselves bargains whenever we could!
So you are only young at 22 and 25 and if you are both earning £20k per annum, you've got the potential to save quite a decent sum of money per annum. If you give yourself 3 years, I'm pretty confident that you'd be able to save £15k (unless you've got debt obligations).
Remember every penny counts :beer:0 -
We can't live in a studio flat. We have too much furniture and can't live like that!
And *that* is why you are going to be a long time before you buy your own place. Hey, how about selling the spare furniture and adding it to the deposit fund?
Now just fess up that you could cut back but CHOOSE not to, and stop moaning.
Or y'know. Second jobs.Debt free 4th April 2007.
New house. Bigger mortgage. MFWB after I have my buffer cash in place.0
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