How on earth can two FTBs raise 20% deposits?

dodger1

casualwalks wrote: »

How about not having to keep our lives private without being accused of "flaunting our sexuality in everyone's face". Straight people talk about being straight all the time (by talking about their partners, weddings, kids etc).

Gay people can also talk about their partners, weddings and kids. None of those are exclusive to straight people, so no, talking about those three things doesn't make someone straight.

Running_Horse

Is it always like this when gays argue?

jimpix12

I imagine this thread will be locked in 5, 4, 3, 2, ...:cool:

casualwalks

dodger1 wrote: »

Gay people can also talk about their partners, weddings and kids. None of those are exclusive to straight people, so no, talking about those three things doesn't make someone straight.

Yep very true! I simply meant that straight people talk about their sexuality all the time without (perhaps) realising that they are doing so.

Hammyman

jmd4eva wrote: »

But we've had a look at mortgages and looks like we need a minimum of 10% but the best ones want 20%.

How can anyone on earth afford this, especially for young people?

We're both male, 22 and 25, earning £20k each with proper jobs and good prospects. Good credit histories. I know £20k each isn't much, but we pay £600 rent a month plus all the extra bills and we know we can handle a mortgage.

How about working more? I worked an average of 60hrs a week for the thick end of two decades. As a result I now own two houses, one of which I rent out.

You take home £1330 a month each. You each only have to pay £300 rent so that leaves you with £1000 each to pay for utilities, food and travel. If you can't save up £20k in 2.5 to 3 years, there's something wrong.

fabbman

Having owned 2 houses previously and currently privately rent, I can speak from experience here!

My LL is excellent and have no issues regarding maintenance, I call - they fix!

The desire to buy in this country will imho diminish, it will have to given the fact that banks won't lend with out 20%+ deposit, I sold to travel years ago and as a result can't afford to buy so I rent, this gives me such peace of mind, I can up and move without being subjected to fluctuations in the housing market.

If you have lots of cash then yes it can be a good decision, but as you said 'who has that kinda money for a deposit' I find it far less stressful to rent, no maintenance bills, move when you like.........I have this debate with people all year long and know people who have no spare money because their house always needs something doing!

Maybe move elsewhere? Not all landlords are bad, and enjoy your time and money!

angela110660

Different generations I know you will say - when we got married in the early 80s our first home was a 1 bed flat (in an okayish area) costing the princely sum of £11875 (!) which was a heck of a lot of money to us and took a lot to raise the 10% deposit we needed when our salaries were so small and were saving for our wedding. We took no holidays unless we went to visit relatives who lived in other parts of the country; we did not go out and spend money on entertainment on a regular basis; neither of us smoked; we ran an old car - a 1967 mini to be exact but used our feet to get to and from work mostly. Much of our furniture was second hand apart from our bed and wardrobes. We lived in our flat for 2 years, then sold for £13300 (woo hoo) before moving onto a 2 bed terraced for 2 years then a 3 bed semi for 6 years (and 2 kids) and finally to current 4 bed home where we have been ever since.
Thinking about all this though - when we were young there were no mobile phones, computers, ipods, satelllite tv and all the other technical stuff that people spend money on today and which seems to drain people's pockets but which they feel they cannot miss out on.
Rome wasn't built in a day - you have to plan, live within your means, be patient and enjoy whatever you have in front of you. Start saving today - don't think about doing it. Good luck

rhodesRocks

this thread has had me :rotfl::rotfl::rotfl::rotfl:

jmd4eva

Just checking back in.

Thanks for the advice, we're definately looking to save money, we just need to streamline stuff like entertainment - we don't go out and drink much, we'd rather go out to eat at nice places, etc.

This quote is why I mentioned the homoness:

Eton_Rifle wrote: »

The OP mentioning his sexuality wasn't a political statement. He was adding detail, fleshing out his story, adding human interest and personality, being a human being.

Thanks, gay Jay over and out!

Gwhiz

jmd4eva wrote: »

we don't go out and drink much, we'd rather go out to eat at nice places, etc.

Come again?