Is home owning for young people just a pipe dream?

danielanthony

The UK population went up by 400,000 people last year, the same as another city the size of Bristol. Where the f*ck are these people supposed to live?

I certainly don't support building over the countryside. We don't need to increase supply, we need to reduce demand.

cynthiacharles

It does not depend upon your age but on how much you earn, I bought my first house in the outskirts of the city when I was 32 year old and my dad did the same thing when he was 55 year.

115K

LisbonLaura wrote: »

Is it just me, or do some of these posts seem somewhat unreal?
A touch of govt. promo about them?
Unfortunately there are bound to be shills on MSE; especially on threads like this.

That is exactly what I was thinking.:rotfl:

norsefox

bedfordshireboy wrote: »

It's not a pipe dream, its called worked hard and being disciplined. I'm a single, 25 yr old buying a £200k house on my own... saved since I was 18, spent the last 7 years doing various work qualifications to set myself up a decent wage for life (hopefully). No gifted funds from parents either.


Key factors are:
1. Living at home paying low rent (if possible)
2. Saving regularly
3. No debt... ever. If you can't afford it, don't buy it.

I've never considered the "live at home if you can" as a realistic solution - but I do grant you that it is highly effective.

In my mind, people shouldn't be living with their parents past 21 - I haven't lived at home since I was 18. I picked up a night-shift job upon graduation so I could stay where I was instead of going home - after two years, I've paid rent and council tax and now have a deposit (shared with my girlfriend) for a West End flat in Glasgow.

It's about being realistic about your spending, driving a cheap shared car and saving money.

If you want to go out 3 nights a week, drive a new or flashy car and take 3 holidays a year - that's fine. But don't be surprised when you can't save. It's all about compromise.

You can have a fancy car and nice holidays when you're 28/29 if you do it right - and before you decide to have kids. Having children in your early-to-mid 20s is only going to result in one thing - having no money.

[Deleted User]

danielanthony wrote: »

The UK population went up by 400,000 people last year, the same as another city the size of Bristol. Where the f*ck are these people supposed to live?

Half of the rise was due to babies being born (in surplus to people dying) - so 1/2 of them will live with their parents for at least 16 years...

dannim12345

115K wrote: »

That is exactly what I was thinking.:rotfl:

I don't think they sound unreal but if your on this website regularly posting (to generalize) your either interested in property or currently buying/selling a property. So a lot of the 'young people' who can't afford to buy or think it is a pipe dream are probably not reading or posting on this forum.

SerialRenter

danielanthony wrote: »

We don't need to increase supply, we need to reduce demand.

Because mass genocide is easier than house building? :eek:

This view always concerned me, like it's an offence to exist, be young and to want to have somewhere to live too.

Pixie5740

There are plenty of currently unoccupied properties in London (and other parts of the UK) that could be used to house people which would increase supply if councils could free them up rather than allow the owner to let the properties go to rack and ruin.

PasturesNew

In the 1800s anybody young/fit who was without work was shipped off to Australia, America and Canada.

When you ended up in the workhouse (no income), that was the route to do that. They taught skills for jobs to the young/fit ones then paid for them to go abroad. I know this as two of my GG-Grandmother ended up in there and two of her lads were shipped out to Canada when they got to be 18.

Shipping out anybody on the dole would reduce demand

kitty_kins

LisbonLaura wrote: »

Is it just me, or do some of these posts seem somewhat unreal?
A touch of govt. promo about them?
Unfortunately there are bound to be shills on MSE; especially on threads like this.

I will admit that my post does sound a little like this but it is my honest opinion! If the schemes hadn't been in place, we would likely have bought a cheaper preowned property - we were still in an excellent situation financially because we have been saving for years!