27k salary, I want to buy a house in England

Running_Horse

30 years ago when I was on a lot less money than you in inner London, I found a slightly better paid job in outer London, and saved up for a couple of years in bedsits and shared houses. I then bought a house in Medway.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E61277&insId=1&minPrice=170000&maxPrice=200000&minBedrooms=2&maxBedrooms=3&displayPropertyType=houses&oldDisplayPropertyType=houses&sortType=1&numberOfPropertiesPerPage=10

It's not the best of areas, and in reality has not improved in the last 25 years. But quite frankly it is better than most areas you will be looking at in London, and you will get 2 or 3 bedrooms and a bit of garden.

If I hadn't made that first move I would still be renting in London, and probably in the same dead end jobs. I certainly would not now be in a nice modern village house. It may not be a perfect blueprint for your circumstances, but your current situation will never fulfill your personal ambitions.

auldblerk

27 K ? Average to low ? Seriously ? I'm lucky to get 15 K. Getting kicked out so might as well do a modern day Dk Whittington and head to London

76rosie

i live in barking. might be something here or romford or grays..

but you should hurry up...

i bought a one bed in 2012 for 90k... now must be 140 upwards...

ManuelG

Comstock wrote: »

Have you considered making the Wellingbourgh house your main home, and lodging m-f in London.

Wellingborough to London is commutable (less than an hour). The issue is more the on-peak price of tickets admittedly, but there are worse commutes...

ManuelG

auldblerk wrote: »

27 K ? Average to low ? Seriously ? I'm lucky to get 15 K. Getting kicked out so might as well do a modern day Dk Whittington and head to London

Welcome to the London world. I left over a decade ago, and even then I was completely unable to rent somewhere by myself, would have never had a hope of buying anywhere...

Do wish I'd bought somewhere where I grew up mind you, as prices rocketed shortly after and it took me another decade to be able to afford to do so, but c'est la vie!

G_M

Perhaps you should move out of London? Your salary is painfully low...

looknohands wrote: »

Don't be so rude, OP salary is UK average.
The problem is not with the OP's earnings it's the housing market and pay gap.

I suspect Kevie's comment was made in relation to the OP's plans, rather than in comparison to the UK average.

UrbanDanceSquad

diesel01 wrote: »

I can get a personal loan if that helps for a bigger deposit.

That approach will not work. The personal loan will be seen as a debt which will limit the amount you can borrow.

thequant

auldblerk wrote: »

27 K ? Average to low ? Seriously ? I'm lucky to get 15 K. Getting kicked out so might as well do a modern day Dk Whittington and head to London

£27k is a low salary for London, considering skilled work such Plumbers, Tube drivers, Cabbies Etc are on £45K+, then £27K is typical of unskilled Labour.


With a half decent education or some skills, no reason you shouldn't be on circa £50K+.


Meet a partner with similar circumstances, then you will have dual incomes of £100k+, nothing stopping you from buying an average London home which is about £500,000.

auldblerk

ManuelG wrote: »

Welcome to the London world. I left over a decade ago, and even then I was completely unable to rent somewhere by myself, would have never had a hope of buying anywhere...

Do wish I'd bought somewhere where I grew up mind you, as prices rocketed shortly after and it took me another decade to be able to afford to do so, but c'est la vie!

Well you got there in the end so respect to you

ManuelG

auldblerk wrote: »

Well you got there in the end so respect to you

Could have guaranteed if I had bought, prices would have slumped!

Anyway, as an aside:

thequant wrote: »

£27k is a low salary for London, considering skilled work such Plumbers, Tube drivers, Cabbies Etc are on £45K+, then £27K is typical of unskilled Labour.


With a half decent education or some skills, no reason you shouldn't be on circa £50K+

If only university lecturers got close to that! They're closer to the £27k end of the market...