Young generation want too much too soon

moneyinmypocket

You don't need 40k for dep as a FTB you should be going for a starter house - you can find houses for under 100k in London - you cant expect to move into a palace. But as I said young people want it all

PaulF81

moneyinmypocket wrote: »

Just seen some young pros - with there iPhones, car each, sky tv, several tvs moaning about house prices, what ever happened to saving up? My theory they are so used to credit binges that they don't know how to save up - generations gone by would go without - we even used to rent are tv and VHS player back in 80s - it's simply put too much too soon for sone people - work harder friends

I have a 400,000 pound house with over 50% equity and i am 30. Does this thought anger you and turn you green with envy?

moneyinmypocket

PaulF81 wrote: »

I have a 400,000 pound house with over 50% equity and i am 30. Does this thought anger you and turn you green with envy?

no why would it? your on the ladder doing well for yourself, good luck to you.

FTBFun

moneyinmypocket wrote: »

You don't need 40k for dep as a FTB you should be going for a starter house - you can find houses for under 100k in London - you cant expect to move into a palace. But as I said young people want it all

Not in places you'd want to live though.

FTBFun

Out,_Vile_Jelly wrote: »

Where in zone 2? You probably earn more than me (university admin).

Peckham Rye.

Fortunately I'm quite well paid so my "mulitplier" (do they even use that anymore?) was less than 3x my salary. I know I'm quite lucky in that regard.

Yellowsticker

I'm 28 and my girlfriend is 24 we bought our first house for £184k last June. We put a 20% deposit down which is about £36k. We have a combined income of approx £46k. Saving was hard we both lived at home with parents and cut back on going out. We were fortunate to have about £15k of our deposit given to us by parents but the rest was both our life savings.

Without our parents help it would of taken a lot longer till we could of bought our first home. It is the deposits which make it hard for FTB. Our mortgage payments are the same as what it costs to rent a house similar to ours.

It is the best feeling knowing we own a property and I advise anyone to save as much as possible and get on the property ladder as soon as you can.