Never to get back on the ladder...

Grumpygit

It's a minefield out there in the housing market.

Houses over here (Guernsey) appreciate in value (bought a house in 93 for 93k and sold in 2001 for 225k - upon divorce)

Looking back, the worst decision that myself and my new partner did was not buy my ex out of the house but hindsight is a wonderful thing.

For 9 years we rented and were very lucky with the houses that we lived in (3 in total) as rents here are huge as well but two years ago we bought a house but only because we inherited some from a family member (not parents) we had been paying 1,200 pm on a 3 bed house which whilst may seem a lot to you UK people, over here that was very very cheap for what it was.

We pay more than that as a mortgage payment but we can afford it, save and live at the same time (thank goodness)

The average cost of a 3 bed house here is 446k but there aren't that many houses around for that price or cheaper and when they do appear they are snapped up straight away.

As for inheritance...my parents sold their house and have moved into the wing of our place - which is handy so I know that I won't inherit any property and as for cash, well, they've earned it they can spend it (as long as they leave enough for their funerals)....we are not banking on getting anything when they die which is fine by us.

it's definitely a balancing act between living/owning and enjoying life now but saving for when you're old.

DannyboyMidlands

I agree with artbaron. It's not easy to buy a nice house in a popular area without bothering to save any money. No reason why it should be.

I actually see it as a problem with renting. Peolple get used to living in areas that they could never afford to buy in. It was like that for me in London so I moved away.