At what age is 'normal' to buy? How old were you?

Ronaldo_Mconaldo

charlamine wrote: »

I was 18 when I bought first property but times were very different. It was 2004 properties were dirt cheap, 5% mortgages were common place and rates were super low! I bought a 72k flat with a 6k deposit and my morgage company was I think 306 per month. Things are very different now!

Ah, back in those by-gone days of 2004.

Davesnave

greensalad wrote: »

I know, I know I shouldn't put a timescale on things. But it's true - I want to start my own family eventually but I would never do it unless I was in a good financial situation and I don't think I ever will be! I'm not comfortable having children + renting because it's just such an unstable life.

I've known hundreds of kids, and what makes them unhappy is emotionally unstable parents, not moving houses and location. Children of forces personnel and some whose parents are in the health service move very often.

As a child, I had many re-locations until I was 9. This was down to somewhat impulsive and unstable parents, rather than poverty, but we ended-up in some odd places! It was an education in itself.

Children generally don't give a stuff about where they live, provided their parent(s) are on an even keel and know how to cope with the emotional blackmail the media pumps out in the name of advertising and pseudo middle-class assumptions.

greensalad

I've known hundreds of kids, and what makes them unhappy is emotionally unstable parents, not moving houses and location. Children of forces personnel and some whose parents are in the health service move very often.

Oh I don't mean instability in terms of moving. My partner was a RAF kid and has moved loads.

I mean the fact that you are 2 months away from being homeless at any time. And I can only imagine the stress of packing up and moving with kids and all the crap that comes along with them. I find moving stressful enough already and that's just my stuff without any tiny humans to keep my eye on.

I don't understand the reluctance to admit to having help/support.

I wasn't having a go re: you getting help, it's great that you got help and honestly I think if parents can help they should (as they tend to me the ones causing the problem half the time. Like my Dad the landlord with his four 2-bed properties for rent. Thanks Dad, that means there are 4 less on the market for people who actually need them). But I've seen a lot of people brag about doing it all by themselves yet living with their parents and getting free rent. Saving for a deposit when you're paying 50% of your wages to someone elses mortgage is so much tougher than living at home and being charged nothing, and nothing like doing it all by oneself. It's a huge help.

LandyAndy

teddysmum wrote: »

23, but that was 43 years ago.

22, but that was 35 years ago:).

Bonfire_Bride

I was 23 but I had huge help from my mother.

I think the worst thing is to compare yourself with others.

uk_american

househuntingmad wrote: »

I'm 34 and looking to buy for the first time currently. Many years at uni, followed by living in the south east to build up my career meant it was never an option before. Now I have a good job and income, a decent amount saved, and the time feels right.

It's never bothered what other people do or when they do it. I made my choices and decisions and my own way.

I did similar to you, many years at uni and then living abroad, buying at 34. Right time/right place I've always said. Six years later, I can see it was the right decision. I had no help, but I made my own choices and decisions and there's something to be said for that, when it's all you've got.

Enjoy the journey!

jimpix12

greensalad wrote: »

I know, I know I shouldn't put a timescale on things. But it's true - I want to start my own family eventually but I would never do it unless I was in a good financial situation and I don't think I ever will be! I'm not comfortable having children + renting because it's just such an unstable life.

I hope I don't sound terse, but this is utter nonsense. Please look to the habits of our European neighbours, I believe around 70% of people in France live in rented accommodation. And they raise their families just fine, for the most part.

If anything, stretching yourself to the limit just to be able to buy a little rabbit hutch does NOT bring financial stability.

Many people in the UK knock renting as if it's second best or they'll say it's "dead money" , but this is only true if house prices keep increasing, which is looking unlikely.

And FWIW I rented from 18 - 23 and then purchased, with no help from my family.

Pixie5740

Are tenancies not more secure in Europe though? As well as being longer than just 6 to 12 months?

jimpix12

^ Yes, in France at least, they are much more secure and the owner cannot sell the home for a fixed period while it is rented.

Note that the costs to buy a home in France are also way less than here, and their average wage is similar to ours, yet very few people buy their home. Is it because rental accommodation is more 'secure', or is it because of their attitude to renting? I suspect the latter. People in this country don't think they've "made it" until they've bought a house, even if it's a shithole bedsit or shared accommodation. It's strange and almost perverse.

greensalad

spunko2010 wrote: »

^ Yes, in France at least, they are much more secure and the owner cannot sell the home for a fixed period while it is rented.

That's exactly what I meant. I'm constantly fearful that I'll get a letter from the landlord telling me I've got 2 months to get out. It's stressful enough without kids. There aren't very many properties in my area for rent and they get snapped up so quickly it can be tough to find somewhere to rent. Plus then you've got the associated moving costs and such. I can't imagine having all that with the stress of children on top of it all.