tips for surviving living at home

Lara44

Hi OP

My OH is self employed and was required to have 4 years audited books even for the purchase of a 40% share of a shared ownership property (with a 20% deposit). He was 6 months off this and got projections produced by the accountant which were eventually accepted by the bank. I was working part-time so like you there was no chance of buying on my wage alone. This was almost 3 years ago.

Not sure how many years books your OH currently has. You have been given great advice about visiting a mortgage broker and talking things over. The situation might have relaxed slightly since we purchased our share. This would give you a definite timeframe to work towards.

We were able to save money by renting a double room in a shared house. It was not ideal, but we did have our own space. Sounds like this sort of compromise would let you save and have a bit more control over your own life? Don't forget to add the considerable costs of buying and moving to your deposit - including stamp duty if payable, conveyancing, van hire etc.

essayhaitch

Many thanks for your replies and advice.

● We are looking at the cheapest possible houses available near us.
● OH cannot move in with his parents as it is too far away from work (sub contracts for a company) also he wont move alone (bless).
● we are waiting to hear back from our independant mortgage advisor.
● we are considering paying the car off and selling it to replace it with something cheaper.
● dont need to worry about van hire, stamp duty wont apply (almost wish it would, least then we would be getting a nice property in our area haha)
● he will have 2 this april, last year he only did a few months so his books werent brilliant (lessthan 5k) tax 2012 will be an improvement on 2011, accountant will be found to do 2012 booksand future books, 2011 he did himself.
● I have always been backwards and forwards living here with uni.
● it is mainly my sisters attitude which i feel is the issue
● have tried locking our room and valuables up in the past
● we spend mostof our time in ourbedroom to get away from it all, that gets complaints as well
● ideally I would love a 2 bed then we would the possibility of renting a room, we have donebefore, to help us out. Realistically we are lookimg at a much smaller property.

Thought bulletpoints would be the easiest way to reply I have tried to answer every question or suggestion. Hopefully we will hear back from our mortgage chap shortly then we know what we are aiming for.

I find thewholething ridiculous to behonest, we have gone from renting a £500+ pm house we are in a better position financially now than then yet we will be seen as unable to afford a 500pm mortgage. We were approved for a mortgage on a small property and they wouldnt lend us enough to make the payments near to what our rental ones were. Hmph.

getmore4less

Do some time away, just seek out cheap hotel deals, even very local ones.
near an airport cheap hand luggage flights.

DeVere do £19 rooms near interesting places some have pools,
Sometimes there are £10 travelodge in good locations.

Any uni friends you could visit.
Oh family for an odd weekend.

getmore4less

Does the sister have an OH?

Dunroamin

InsideInsurance wrote: »

For a start it sounds like you are living at your parents/ in laws "home" rather than yours.

I agree with others, the interest being charged on a loan will be higher than interest you are gaining on your savings. Pay it off and resave.

If you are currently based on one low salary and one newly self employed person then you need to be realistic about your chances of getting a mortgage at this point in time. Could be worth speaking to a mortgage advisor to see how much of a pipe dreaming getting your own property will be.

Ultimately, whilst you are living rent and bill free in someone elses home you really dont have much choice on how the house operates and what the ground rules are. As you say, you are no longer children though my experience of those that go back to live with their parents do start acting child like again (ironically so do parents sometimes if they go and live with their children in later life etc)

Cost in life is not just measured in money, it may be worth balancing the emotional cost of living at your parents -v- the financial cost of getting a bedsit/ studio flat or becoming a lodger for a while

The OP doesn't say this is the case and I would certainly hope that it isn't!

moneyistooshorttomention

It does seem very odd for your parents to accept your sister stealing from you and even blame you for it:eek:.

Is your sister still very young? eg 3 years old, 4 years old, some other age where just maybe she might be considered young enough "not to know better"?

Jojo_the_Tightfisted

Or is it possible that they just don't want the two of you there anymore, because the few months has turned into years?

I think my head would have exploded had I been stuck with DD1's first boyfriend in my house. And her father's parents were lumbered with him from the age of 22 when we split up. In that time, which was supposed to be just long enough to get a deposit together, he moved a girlfriend in. They then had two children, each of which put back the mortgage 'plans', and they eventually moved out to rent the house next door just after his 40th birthday.


Sometimes you can outstay your welcome.

mountainofdebt

Do you pay rent?

If so why not look at moving into a shared house that is asking for what you are roughly paying now?

Also there was a gadget on one of the theads on the student board that you could fix to your door so that the door could be locked but the gadget removed when needs be and the door would become a 'normal' internal door again iyswim. Could you not suggest you fix one of these to your bedroom door .....to save anyones blushes for example?

essayhaitch

Dunroamin wrote: »

The OP doesn't say this is the case and I would certainly hope that it isn't!

Thankfully no it isn't the case.

essayhaitch

moneyistooshorttomention wrote: »

It does seem very odd for your parents to accept your sister stealing from you and even blame you for it:eek:.

Is your sister still very young? eg 3 years old, 4 years old, some other age where just maybe she might be considered young enough "not to know better"?

I wish, she is a grown up.