Is it worth living in London if you are in your 30s and earn under 50k?

richdeniro

I wasn't sure what forum to post this on but this seemed the most appropriate and just wondering if any others in their 30's think this?

I am seriously considering moving down to Bournemouth, I went to uni there and have some friends still living down there.

I feel like I have been left behind in London and there is no hope unless I am on a 50-60k+ salary.

Can't get on the housing ladder and it gets a more and more distant dream by the month.
Competition for jobs is driving down wages and stress/anxiety is at an all time high due to this.
I essentially spend over a months take home pay just on fares over the course of a year.
I don't have much money left at the end of every month to save.

I love London and have spent most of my adult life here, nights out after work and having things to do on the weekends were amazing but since hitting my mid-30s and seeing others in and around my age who have essentially been lucky or had breaks moving on with their lives has made me re-evaluate my priorities.

I feel like I have done everything correctly in life but never been in the right place at the right time or had the breaks and luck to push on - I got a job as soon as I left uni, have always worked, saved a huge chunk of my salary for a house deposit but a series of events beyond my control let me down every time. If it isn't being made redundant then it's the price of one bedroom flats increasing 60-100% within a couple of years.

I used to think anything over a 30k salary was a lot and you could easily make a go of it and have a decent future in London but it doesn't seem to be the case now especially if you haven't hit the 40k mark by the time you are in your mid-late 30s.

ukcarper

It depends on many things, job prospects in area you intend to move to, your interests just to name to. I first bought in the early 70s and was earning the equive of about £35k working in south West London and I couldn't afford to buy there so I decided to move out and commute at the time I was able to buy a terraced house but now you would probably have to settle for a flat.

setmefree2

As someone who lives in London - if you were my son/daughter I would say definitely - if you can find a job go and live in Bournemouth.

I love Bournemouth.

There are plenty of great places in Britain. London's just one of them.

cells

A few options applies pretty much to everyone no matter where they live.

1: Get better paid work. This may not apply to you but there are lots of people who complain life is difficult while sticking with a very poorly paid sector or job. Sure finding better paid work can be deficult and take some time but its definitely something one needs to try.

2: Move somewhere cheaper while maintaining a similar wage. Much of the north and midlands look particularly affordable.

3: Seek subsidy. Apply for council homes or get into a situation whereby subsidy is provided for you. Often this would mean find someone and have kids

4: Partner up two wages make life a lot easier than one wage

5: Lower expectations. First homes for many need to be the lower end of the market for obvious reasons.

Out,_Vile_Jelly

I'm in my 30s and am on a university secretary's salary. I bought a house in London (scruffy part of zone 4) in 2013, with neither luck nor a break (nor BoMaD).

I grew up near Bournemouth and am in no hurry to move back! I'm sick of Londoners who moan about London though.

chucknorris

Out,_Vile_Jelly wrote: »

I'm in my 30s and am on a university secretary's salary. I bought a house in London (scruffy part of zone 4) in 2013, with neither luck nor a break (nor BoMaD).

I grew up near Bournemouth and am in no hurry to move back! I'm sick of Londoners who moan about London though.

Quite a few of my dissertation students have amazed me by how busy they are, by doing a part time degree, starting a family, working and doing up a property that they have recently bought (outskirts of London/S.E. England) it makes me realise how lucky I am. But it also makes me feel good for them, because they too are very lucky, (but they made their own luck) that so much positive things are going on in their lives. I don't think that they believe me when I tell them that they are going to be the next high level management in the construction industry (only say that to the small minority of course).