Only 3% of homes were bought by people aged 18-30 in June

retepetsir

Modgepodge wrote: »

Bought my first home with my fiance in May, we are both 27.

My fiance inherited £100k last year. Without that, absolutely no chance of buying, ever. We can afford the mortgage by ourselves, but saving enough for a deposit, fees, stamp duty (£9k!) etc would have been impossible while renting. Admittedly we bought in reading which is a fairly expensive area, but even in other parts of the country it would have been hard.

I don't know a single person my age who has bought without significant help from Parents or inheriting.

We managed it but then we were extremely frugal and didn't spend out on things like big holidays! Everyone seems very surprised when they found out we didn't have any funding from the bank of mum/dad or similar.

First place was a 2-bedroom flat (SE England) bought in 2011 for £162k, after renting for a few years and at the ages of 26/24.

Second place was a 3-bedroom house (SE England) bought a year ago for £250k, having saved up again and using equity from the flat, so we were 29 and 26. Not easy but glad we made the move!

Not in particularly high-earning jobs (nurse and engineer) but we aren't extravagant.

Pretty much everyone I know has had help with the deposit.

matthewpoll13

tykesi wrote: »

Where did they bring them?

Bless you.

Jack_Johnson_the_acorn

Joint income of 47k. Bought with no help from parents. 13k deposit saved in 16months and paid 127k.

Age 25 & 24

GalaxyStar

We completed on our purchase on the 11th, I'm 24 my other half is 26. 90k mortgage, 10% deposit. No help from parents on that side! Been working weekends since the day i turned 16 and saved it all amongst other jobs. I've paid most of deposit but OH put in what he could since he got his proper job, we aren't in high paying jobs but we're not big on spending!

115K

I bought a house at age 27 but this was back in 2003. If we were in the same position today we would probably only be able to get a one bed flat.

densol_2

I bought my first house at 18 - my then fianc!e was 21 ! ....the house was £28 k ..... Much easier those days. I'm 48 now and will be mortgage free in 2017 as have big house in greater London and plan to downsize then

Bigglesworth

I'm completing on my first house purchase tomorrow! I'm 35. It's my partner's second house and he's 40 (his first purchase was at 27).

quantic

I don't really think buying a house is particularly difficult if you are prepared to save up and go without some of the wants in life.

Bought my first house at 24 (2010) while earning 19k and single. Saved up deposit and fees over 3 years and it went straight forward.

I have been told I was lucky to live at home, and I otherwise would have struggled to save up the deposit. Managed to save up 15k additional deposit for the house I bought this year, while overpaying mortgage so I don't really agree.

If you have been mildly sensible, can save up - its pretty trivial in my opinion.

julesds

Bought first flat at 27 years

Now buying house aged 32 years

on my own and no help from parents!

Modgepodge

quantic wrote: »

I don't really think buying a house is particularly difficult if you are prepared to save up and go without some of the wants in life.

Bought my first house at 24 (2010) while earning 19k and single. Saved up deposit and fees over 3 years and it went straight forward.

I have been told I was lucky to live at home, and I otherwise would have struggled to save up the deposit. Managed to save up 15k additional deposit for the house I bought this year, while overpaying mortgage so I don't really agree.

If you have been mildly sensible, can save up - its pretty trivial in my opinion.

Unfortunately living at home was not an option for my partner and I. Over 3 years we have paid around £35k in rent. If I wasn't paying that I guess I'd have a £35k deposit...but by living at home you were getting help from parents, really.