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Looking to buy but am I ready financially?
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First of all I think you have done really well on the saving front. I do think you need a bit more though. If you are buying on your own I dont think you will get a large enough mortgage for what you need to borrow. I also agree with the house thing. Where I live there are so many flats that buyers can afford to make really silly offers and unless the flat is really perfect in every sense you dont even get a look in. Its fine for now but you need to think long term or you might get stuck and unable to move on like I am at the moment.0
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Sorry for late reply thanks for all the advice.
I think the main things I need to concentrate on are upping my salary (this seems very important but I am ambitiously climbing in my career, started in utilities on £15,300 in 2009 and am now on £21,121).
I do not drive and so have no expenses in that regard. And my monthly rent of £485 (All in) and savings of £550 leaves me £300 a month for everything else. Shopping (Which I spend £30 a week at Aldi, yes I could shave a tenner off that and sometimes do, but you only live once and I like a little nice food). Monthly Gym membership £35. and the rest for treats. anything not spent goes into the savings at the end of the month.0 -
Have you considered matched betting? That could net you a few thousand, is NOT gambling so very low risk and is tax free.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
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A friend did try to explain it to me once but I couldnt quite get my head around it, he said he made just under 2 grand off it when he did it.0
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Just used them recently, fantastic service.
The first guy i was dealing with was abit of a novice, called back got a really good one the next time. If you want his direct details am happy for you to PM me.
I would also go for a house if you could stretch as atleast its yours!
Good luck & happy house hunting
No one said it was gonna be easy!0 -
DannyboyMidlands wrote: »In my opinion you should buy a 3 bed house and not a 2 bed flat.
Hmm don't really see the logic in this.
Bills will be higher and mortgage will be higher.
I would stick with something easily affordable for know.0 -
A friend did try to explain it to me once but I couldnt quite get my head around it, he said he made just under 2 grand off it when he did it.
Don't get your mate to explain it to you, research. Lengthy explanations on the relevant board, its recommended to read them several times.
http://forums.moneysavingexpert.com/forumdisplay.php?f=41Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
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