Deposit of £150k, what would you do in my situation?

Tancred

dktreesea wrote: »

I thought this looked okay in Calcot:

http://www.rightmove.co.uk/property-for-sale/property-41351810.html

Though I preferred this:
http://www.rightmove.co.uk/property-for-sale/property-39423700.html
The land looks better.

Tancred, what's so special about Caversham? It seems a bit of a hike to me, both to the railway and the M4.

Caversham is not great for the M4, but the lower part (which isn't so nice) is good for the station.

It's also worth considering Wokingham and Bracknell.

Flashmanchop

Tancred wrote: »

The OP is 25 :rotfl:

And I find it unlikely that he has worked since age 16 anyway. You were so keen to argue that you didn't even do your sums right.....pathetic.

Bit harsh. I'm not here to argue and belittle others.

So, he is 25. maybe he is a business man, or still is good at saving.

too many people see it as impossible to do x y z. Just because it may be hard for others to save and not take every ounce of finance they can it doesnt mean others can't.

I wouldnt say that saving that amount up is pathetic.

or were you calling me pathetic?:beer:

Reue

Tancred wrote: »

The OP is 25 :rotfl:

And I find it unlikely that he has worked since age 16 anyway. You were so keen to argue that you didn't even do your sums right.....pathetic.

To be fair, I was working and saving £5k a year when I was 16...

Flashmanchop

Reue wrote: »

To be fair, I was working and saving £5k a year when I was 16...

await the non believers!!

Pretty good going. Paper round and a milk round?

Reue

Flashmanchop wrote: »

await the non believers!!

Pretty good going. Paper round and a milk round?

Lifeguard. £7.31ph. £58 a day Saturday and Sunday x 50 weeks = £5800.

Plus i worked weekdays during the school holidays and occasional evenings, double shifts and overnight ($$$!). All tax free ofc.

Not bad for 16. Gotta be 18 to be a lifeguard now though I believe.

cwcw

Flashmanchop wrote: »

I don't think you have done the maths.

why does he have to have earnt £30k per annum from 16?

if he has lived frugally, he could have saved proportiantely as he has grown up and as he has earnt more.

AgeEarningSaving Savings
16 £ 2,000.00 £ 1,000.00 £ 1,000.00
17 £ 5,000.00 £ 2,500.00 £ 3,500.00
18 £14,000.00 £ 7,000.00 £ 10,500.00
19 £15,000.00 £ 7,500.00 £ 18,000.00
20 £15,000.00 £ 7,500.00 £ 25,500.00
21 £16,000.00 £ 7,750.00 £ 33,250.00
22 £16,000.00 £ 7,750.00 £ 41,000.00
23 £16,000.00 £ 7,750.00 £ 48,750.00
24 £18,000.00 £ 8,000.00 £ 56,750.00
25 £20,000.00 £10,000.00 £ 66,750.00
26 £22,000.00 £13,000.00 £ 79,750.00
27 £24,000.00 £15,000.00 £ 94,750.00
28 £26,000.00 £16,500.00 £111,250.00
29 £28,000.00 £17,800.00 £129,050.00
30 £30,000.00 £20,000.00 £149,050.00

thats very quickly calulated without any compound interest

Yeah, except he's only 25. Fail!

cwcw

Flashmanchop wrote: »

Bit harsh. I'm not here to argue and belittle others.

So, he is 25. maybe he is a business man, or still is good at saving.

too many people see it as impossible to do x y z. Just because it may be hard for others to save and not take every ounce of finance they can it doesnt mean others can't.

I wouldnt say that saving that amount up is pathetic.

or were you calling me pathetic?:beer:

I'm in awe of the OP's saving. I think what a few people are pointing out though is that the full £150k didn't come from a £30k a year job by age 25.

makeyourdaddyproud

I too, live in Reading and I cannot see what the attraction is in the town. House prices are way over the top for the tiny little Victorian terraces suggested. Over £220k for the prettiest ones. Knock yourself out, but if your happy to spend 30 minutes trying to park outside your box in Sherwood Street where your car is wider than your box then fair play to you.

Once the big ticket corporates start relocating then watch your overpriced box lose value and then some. I'm not buying tickets to that event, i'm leaving Reading asap.

Oh, and where are these "grand Victorian palaces"? I'm sure you're only talking about Caversham Heights, there are very few elsewhere. Want to buy one ? OP can put a zero on the end of his budget.
Overpriced, overpopulated and very slum like.

makeyourdaddyproud

Also, £150k saved by 25 is possible but I will second that the figures just don't add up unless the OP perhaps had a sizeable gift or inheritance somewhere along the way. With the low savings rates in recent years not affording a geometric kick on the fund, and the fact it is highly unlikely the OP would be earning anywhere near the £30k needed to be on track in a linear savings fashion, there just isn't enough time to accrue £150k.

As much as many of you think it's possible, it doesn't add up because the OP likes attention, it seems to me.

Reue

makeyourdaddyproud wrote: »

Oh, and where are these "grand Victorian palaces"? I'm sure you're only talking about Caversham Heights, there are very few elsewhere.

Theres a good few places along London and Kendrick Roads as well.