Is it really that hard?

Cornucopia

I have no idea whether every person who is struggling to buy a property is poor at financial planning or not.

However, I do know that financial planning advice is one thing that is often sought on these forums, AND I know that often when people do present figures on SOAs and otherwise, there is slack that can be easily cut out.

Also, it always was the case that some people never owned their own properties, or didn't own for a substantial proportion of their lives.

[Deleted User]

Am I the only one thinking that a graduate with 40 years experience should be on far more than £28k?

Carl31

ringo_24601 wrote: »

Am I the only one thinking that a graduate with 40 years experience should be on far more than £28k?

Depends where in the country they live, and whether they work in the same field as their degree. A lot of people who went to Uni that I know have degress worlds away from what they do career wise

Also, just because you can pass exams, doesnt mean you have a good work ethic. I take experience over quals any day of the week when I recruit, I dont really even look at the qualifications on their CV

Mistermeaner

ringo_24601 wrote: »

Am I the only one thinking that a graduate with 40 years experience should be on far more than £28k?

If his maths is anything to go by probably did performing arts

lisyloo

Madder - similar circumstances to you but older.
We have a home in Wiltshire.
DH was made redundant early 2013, he's in management and was 48 and the economy was doing less well then.
He didn't find anything locally and he was being imaginative.
People don't believe it when you say you can't find a job, but he was out of work for a while.
He found work in London.
We are currently renting but thinking about buying (it's 5 hour commute from wilts - we've tried it but I crashed the car at 6 one morning, only hit a post at the railway station but it was the last straw, it showed me I'd have to give up motorcycling because I'd end up killing myself with lack of concentration due to fatigue).

His role cannot be done outside London at all.
We would not move from wilts right now because of elderly parents who cannot do much for themselves.

It's not that easy to move 2 jobs. I've been in mine 16 years and value the long service benefits. DH can't do his job elsewhere, plus there's the family ties (and a lovely home in wilts).

MARTYM8`

ggb1979 wrote: »

If his maths is anything to go by probably did performing arts

Its just a pity there is not a No thanks option to comment on posts? It really doesn't help to sneer.

The poster lives in London - earns above the median typical wage there.

You can't change past decisions - but what you can point out is that it is extremely difficult for someone with modest savings and earning £28k to buy a property in London now. When you cannot afford a one bed flat in a high rise council block in East Ham as it requires a 4 times+ median salary mortgage - it sort of illustrates the point.

edinburgher

ringo_24601 wrote: »

Am I the only one thinking that a graduate with 40 years experience should be on far more than £28k?

Absolutely. I have lived in London on £25k without the benefit of a paid off house etc., it was unworkable (7 years ago). Moved back to Scotland and life is more sane, may be able to buy an actual house one day...

Thrugelmir

Nikkster wrote: »

I also didn't see the point in stretching and spending my life savings to buy a pokey flat.

To buy our flat we had to live our home town. Surrey was just as unaffordable then as it is now. The "nicer" parts of London were no better either.

In the end for an additional £500 outlay. We swopped our 2nd floor flat for a new semi detached house in Newbury built by a small developer.

ruggedtoast

Goldiegirl wrote: »

I started work in 1976 on an annual salary of £1074.

House prices went up considerably in the late 1970's.

By the time I bought a house in 1981, our two bedroom starter home cost £24250. We had a £21000 mortgage and we'd saved very hard for the deposit for the house. By that time I think I was earning about £4500,and my husband was on about £8000. It was the maximum mortgage we could get at the time, then we had to cope with the 15% interest rates

Every generation has it's problems - no generation has had it easy. You just have to play the hand you are dealt.

Yours has.

ruggedtoast

Thrugelmir wrote: »

To buy our flat we had to live our home town. Surrey was just as unaffordable then as it is now. The "nicer" parts of London were no better either.

In the end for an additional £500 outlay. We swopped our 2nd floor flat for a new semi detached house in Newbury built by a small developer.

Absolute rubbish. Everywhere has gone up exponentially, the home counties have rocketed in relation to wages.