Scared - will I ever afford my own home?

Dreaming_2

Well I was studying mathematics but have changed to accountancy, business finance and management. I was only using the starting salary and london house prices as examples and projecting a few years, with london average ftb-ers paying £200,000 if I recall correctly.

At the end of the day all I'm worried about is whether in the future, poor financial planning now will have a serious impact on my quality of life. A lot of middle aged people I know regret not putting money away when they were younger because it meant they were in a worse position when they were older, especially when they had kids.

This mantra of plan in advance has been drilled into me from a young age, and I just saw the property market seems out of control and don't want to be left in a vulnerable position.

Melissa177

Hi, I'm a Maths (and Physics) grad too.

An average London FTB is paying 200K, apparently, but they are also 31 years of age, and are probably buying with someone else. I graduated 3 years ago and just bought a flat for 165K, which is just about doable on my salary and finances.

I think you are right to think ahead - you'll benefit later on - but I wouldn't worry about it excessively. I'd focus on getting good exams, and keeping your budget at Uni in check.

And also remember: if no-one could afford houses, there would be no FTBs, and the market would be crashing.

Now there's a thought :eek: