Nobody is priced out..

wotsthat

Graham_Devon wrote: »

Can you show me?

Otherwise it would appear you are just here to play what you accuse of...

Show you what - evidence that people who like rising prices have a special 'children factor' when talking about affordability? No I can't - you must have just proven that people who want house prices to rise hate children.

Yes I like the odd game of bulls and bears - what about it?

Lagoon

IveSeenTheLight wrote: »

you can it appears.
2 years is not much to sacrifice to achieve your goals and lay the foundations before having a family.




Good luck.

One question, what did you and your OH do with the last 10 years income?

Two years as a minimum. As I say, if it's two years then I'm happy to save and buy somewhere, but if things (as I'm sure they will) get in the way of our saving and start to extend that then I'm no longer comfortable waiting.

That's two years to save £7,700 using all of our spare money, and making those sacrifices everyone talks so much about. Yet, if one unplanned expense comes up it will delay our plans further, and this assumes that we can find a new build property that meets our needs.

Regarding our previous income, we were both at university. OH then became seriously ill, and we ended up having to use all of our money for rent and living costs as he had to leave his university course and his job. Recovering from that financially took a long time, and we were unable to save as we were both on extremely low salaries even once both in work. Now, we have saved for a wedding over the past few years as that's something that was important to OH.

In order of priority, through compromise:
- Wedding
- Children
- Home Ownership

OH didn't want to start a family without being married. Children have a time limit (whether or not others agree with me wanting my first before I'm into my 30s), home ownership doesn't.

At the same time, again this is about priorities, I want a certain standard of living. Sure, OH and I could go and live in a house with strangers, and with one room to be considered 'ours', but we weren't happy doing that. We could give up everything that makes us 'us' in order to scrape together a little more money each month, but we weren't happy doing that.

We also pay slightly higher rent than the necessary, because I wanted to live in a decent area. We started renting somewhere cheaper, and in the end the neighbourhood made me feel so unsafe that we made the decision to move. Now, we live somewhere that I feel safe, but that I don't feel 100% comfortable. It's a nice house, it stands up on its own, but it's cheaper than most in the area because it has 60s decor, is equipped with the basics, hasn't been maintained all that well by the LL and, despite technically being suitable for a family, would definitely be on the cramped side with more than two living here.

These are all choices we've made. I'm not complaining, I'm not saying that nobody can save for a house at our age. I'm saying that in our circumstances the family comes first and that to me not owning a home isn't the be-all and end-all.

My original point was that this notion that you can 'just save £20,000 in two years' as though it's simple is a bit of a silly one. That might be the case if you have more than £800 spare each month (which is a lot to expect in the first place), and if life goes along without any issues at all, but in many cases people don't have a minimum of £800 spare each month, as well as enough to set aside some money to cover unexpected expenses.

ILW

Lagoon wrote: »

Two years as a minimum. As I say, if it's two years then I'm happy to save and buy somewhere, but if things (as I'm sure they will) get in the way of our saving and start to extend that then I'm no longer comfortable waiting.

That's two years to save £7,700 using all of our spare money, and making those sacrifices everyone talks so much about. Yet, if one unplanned expense comes up it will delay our plans further, and this assumes that we can find a new build property that meets our needs.

Regarding our previous income, we were both at university. OH then became seriously ill, and we ended up having to use all of our money for rent and living costs as he had to leave his university course and his job. Recovering from that financially took a long time, and we were unable to save as we were both on extremely low salaries even once both in work. Now, we have saved for a wedding over the past few years as that's something that was important to OH.

In order of priority, through compromise:
- Wedding
- Children
- Home Ownership

OH didn't want to start a family without being married. Children have a time limit (whether or not others agree with me wanting my first before I'm into my 30s), home ownership doesn't.

At the same time, again this is about priorities, I want a certain standard of living. Sure, OH and I could go and live in a house with strangers, and with one room to be considered 'ours', but we weren't happy doing that. We could give up everything that makes us 'us' in order to scrape together a little more money each month, but we weren't happy doing that.

We also pay slightly higher rent than the necessary, because I wanted to live in a decent area. We started renting somewhere cheaper, and in the end the neighbourhood made me feel so unsafe that we made the decision to move. Now, we live somewhere that I feel safe, but that I don't feel 100% comfortable. It's a nice house, it stands up on its own, but it's cheaper than most in the area because it has 60s decor, is equipped with the basics, hasn't been maintained all that well by the LL and, despite technically being suitable for a family, would definitely be on the cramped side with more than two living here.

These are all choices we've made. I'm not complaining, I'm not saying that nobody can save for a house at our age. I'm saying that in our circumstances the family comes first and that to me not owning a home isn't the be-all and end-all.

My original point was that this notion that you can 'just save £20,000 in two years' as though it's simple is a bit of a silly one. That might be the case if you have more than £800 spare each month (which is a lot to expect in the first place), and if life goes along without any issues at all, but in many cases people don't have a minimum of £800 spare each month, as well as enough to set aside some money to cover unexpected expenses.

I would suggest that any average couple (salaries around £25k) should be able to save £10k per year without too much hardship.

Lagoon

ILW wrote: »

I would suggest that any average couple (salaries around £25k) should be able to save £10k per year without too much hardship.

Yes, I'd have to agree that it's entirely possible for a couple with £50k a year coming in. My point is that it's not that simple - people aren't all in that position.

I honestly don't know what's average but I do know that I know very few people on that kind of money in my circle of friends. What a lovely income that would be.

[Deleted User]

ILW wrote: »

I would suggest that any average couple (salaries around £25k) should be able to save £10k per year without too much hardship.

Doesn't that forget that most 'young' people aren't earning the 'average' salary.

When I started out saving for a mortgage, I had my first job and it paid about £18k. I was also earning more than most of my friends who'd left university at the same time as me. I didn't earn over average wage until after 3 years and a change in career (and city). It took me around 3 years to save £10k, and i went without a car and holidays for that time (and i had to repay a student loan and overdraft).

wotsthat

Lagoon wrote: »

I honestly don't know what's average but I do know that I know very few people on that kind of money in my circle of friends. What a lovely income that would be.

What's stopping you earning an average wage? What can you do about it?

More money might mean instead of choosing between kids and buying you could do both.

Lagoon

wotsthat wrote: »

What's stopping you earning an average wage? What can you do about it?

More money might mean instead of choosing between kids and buying you could do both.

What can I do about it? I could sell my soul to the devil, but I'd rather not.

Again, I'm prioritising. Kudos to people that can put in 60-80 hour weeks, giving their heart and soul to working in high-paying careers and sacrificing all of their free time, but even if those jobs were out there and readily available for every young person (and I don't believe they are), if that's what's needed to own a house of your own then again I think I'll pass.

PasturesNew

Sibley wrote: »

Why do the crashers keep saying they are priced out of the housing market?

I took a quick look on a Maidstone property website this morning.

Loads of 2 bedroom decent flats for around 120K.

Granted, if you live in Central London it's a different story but most of the country is well affordable.

A young couple could easily save 20K in 1-2 years....100K mortgage nothing special to pay. Mine was that when I started and I managed it alone at high interest rates.

Think these renters ought to man up and just buy.
Sacrifice your Iphone 5 upgrades and holidays.

Not everybody is a couple ..... I would struggle to earn £20k, never mind save it in a year.

I have no iPhone, nor holidays.

PasturesNew

wotsthat wrote: »

What's stopping you earning an average wage? What can you do about it?

That's always the question isn't it. Firstly, ir's harder (on average) for girls as girls DO earn (on average) less than blokes.

Geography. Being deemed qualified enough to even apply for jobs with more money. Age, and being deemed "too old" for a lot of vacancies, where recruiters want people 'just like them' and not to work alongside 'their mum'. Not the right bit of paper, not enough experience, no specific experience in one aspect they are after .... and, my typical favourite - saying stupid things in interview when they hit me with odd questions.

What can you do ...? No bl00dy idea really.

Mr._Pricklepants

wotsthat wrote: »

Yes I like the odd game of bulls and bears - what about it?

It sure beats snakes and ladders!