Rental nightmare - Prices are totally out of control

lloydyd

Bluebirdman_of_Alcathays wrote: »

I managed to get a mortgage within 4 years of leaving uni. It involved sacrificing nights out, delaying having children, and renting in less desirable parts of town.

I suspect you know full well what you have to do in order to get on the property ladder, you're just not prepared to do it.

I know what i have to do, not being prepared to get rid of 3 children so i can be a student again with no kids and living with mum and dad while i save for a deposit isnt possible, its got FA to do with not willing to do it!!

Why do you all presume to know me and assume that i blow my money on nights out and wine etc. I dont, at all!!

I cant get in front to save a deposit becuase all of my money goes on rent and bills, its got nothing to do with going out and blowing my money on luxuries. I shop in Aldi and Lidle I dont go to M&S. I dont go out for dinner once a week and i have 2 jobs including well paid one in the city. Saving is impossible due to the costs of living around here and i cant move too far as my whole life is around the NW of london. I love the way everyone is so Condescending, Im 40, not 17.

Thanks for all of the sensible replies though. I know there are properties around but as ive said, they are just so much more than what im paying now.

lloydyd

We should have a rent control system like the do in the US. It would help to maintain an even ground on this

jjlandlord

lloydyd wrote: »

We should have a rent control system like the do in the US. It would help to maintain an even ground on this

How?

The issue is that demand far outstrips supply.

In a free market economy this is resolved by prices going up to balance demand and supply and to encourage more supply.

Rent controls would only encourage demand and limit supply further, so the exact opposite of a solution.
You would not even have more chance to get a property.

[Deleted User]

To be honest, the rental costs only reflect the cost of the properties themselves. We had just the same problem when trying to buy a home in the same area you're looking to rent - they're all bloody expensive.

So you make a sacrifice. You pick somewhere that is ok, and a house that is ok - because without a rich mummy or daddy, that's what you've got to do around here.

I'd look at London Colney. It's a step up from Hatfield, it's not far from Shenley/Borehamwood and rent isn't too bad considering (A 4 bed would be £1,600 a month)

Rent control just pushes an artificial limitation on a 'free market economy'

PasturesNew

Force the Unis to build student accommodation ..... that'd free up a whole bunch of houses.... and provide accommodation more suitable for students (e.g. on-site laundry, social rooms, less grim).

Okydoky25

Have you ever considered moving further afield? Properly looked into it? I grew up in NW London. As you I moved out Stevenage way but even that became to expensive very quickly. I'm now in Cambridgeshire and will never move back. You can get a train to Central London very easily direct from lots if stations so no need to sacrifice your job. Kids adapt very quickly. Personally I am thankful mine will not be growing up in London.
I get a much better family balance which my kids will benefit from.

It's not for everyone. Yes I had to move away from family and friends but I actually get to spend quality time with them now as I appriciated them more now I see them less.

Bluebirdman_of_Alcathays

lloydyd wrote: »

I know what i have to do, not being prepared to get rid of 3 children so i can be a student again with no kids and living with mum and dad while i save for a deposit isnt possible, its got FA to do with not willing to do it!!

Why do you all presume to know me and assume that i blow my money on nights out and wine etc. I dont, at all!!

I cant get in front to save a deposit becuase all of my money goes on rent and bills, its got nothing to do with going out and blowing my money on luxuries. I shop in Aldi and Lidle I dont go to M&S. I dont go out for dinner once a week and i have 2 jobs including well paid one in the city. Saving is impossible due to the costs of living around here and i cant move too far as my whole life is around the NW of london. I love the way everyone is so Condescending, Im 40, not 17.

Thanks for all of the sensible replies though. I know there are properties around but as ive said, they are just so much more than what im paying now.

Aww shucks it's just not fair!

You make absurd blanket statements like "saving is impossible". Nonsense. You admit you're well paid, you should therefore be able to save.

The alternative is, if you want to maintain your current lifestyle, earn more.

lloydyd

Bluebirdman_of_Alcathays wrote: »

Aww shucks it's just not fair!

You make absurd blanket statements like "saving is impossible". Nonsense. You admit you're well paid, you should therefore be able to save.

The alternative is, if you want to maintain your current lifestyle, earn more.

Thanks so much for being an adult and commenting with a real response. I havent said its not fair so dont be a tw*t

DTDfanBoy

lloydyd wrote: »

Thanks so much for being an adult and commenting with a real response. I havent said its not fair so dont be a tw*t

Perhaps you should reread your OP :cool:

lloydyd wrote: »

Yes im sure i could get a 3 bed and yes at a push one of my 3 children could share, but i dont think thats fair and tbh, this isnt about that, its about greedy bloody landlords killing us all with the pathetic rents they want to charge.

Pixie5740

You say that your current landlord is total t**ser and that's why you are having to move. What exactly is that your landlord has/hasn't done that's forcing you to move? Have you been issued with a section 21 or section 8 notice?

If you want to accrue enough savings to get on the property ladder you'll need to increase your income, decrease your expenditure, or both which I'm sure you already know.

The folk over on the Debt Free Wannabe and the Old School Money Savers boards have some great ideas about how to make your money go further which are helping me increase the amount I can save each month.

A large part of your expenditure seems to be your rent so you need to find a way of reducing that such as moving to a cheaper area or renting a smaller property with some of the children sharing. That will give you more to save each month.

It's not just rents that are increasing in the areas you and I live in but also house prices so it's just not renters that are having to pay out huge sums of money to keep a roof over their heads these days but home owners too who are having to take out substantial mortgages. That's just down to supply and demand (with some government meddling...Help to Buy). In fact that's a point, could you use one of the Help to Buy schemes to get on the property ladder?