Harder now for 1st time buyers?

Thumper7

See, that's your problem, you see what you think other generations had. You really have to stop comparing your life with previous generations, that will only lead to disappointment . You have to look at how things are now, not what you perceived them to be 20,30,40 years ago.

I really do hope you get what you want, but unless you start to live in the present and forget what your parents managed to get when they were young you will always suffer disappointment regardless of phds,masters etc etc

littlegreenfrog_2

Thumper7 wrote: »

See, that's your problem, you see what you think other generations had. You really have to stop comparing your life with previous generations, that will only lead to disappointment . You have to look at how things are now, not what you perceived them to be 20,30,40 years ago.

I really do hope you get what you want, but unless you start to live in the present and forget what your parents managed to get when they were young you will always suffer disappointment regardless of phds,masters etc etc

My other half is under strict instructions to stop me in my tracks if I ever even mention doing a PhD...

I know it doesn't achieve anything to dwell on what previous generations had. I just worry for the future, that's all. And I know I will get there eventually, but many of my friends won't, and that saddens me greatly.

marksoton

littlegreenfrog wrote: »

So how far am I supposed to compromise? Is it really that unreasonable that a higher rate taxpayer should expect to be able to buy a place within commuting distance of their job which is big enough to have one child in?
As far as you need to achieve what you want...
I appreciate that your situation with your daughter isn't ideal - but you couldn't really do that if she was small and lived with you all the time, could you?
Agreed. But as me and her mother split when she was one i've made it work for over a decade....
Investors have had enough "help" over the years - why not owner occupiers now? The change to BTL tax relief is a good start, but I find it baffling that they get any tax relief at all, frankly. Are the huge capital gains not enough of a carrot?
They are businesses of course they get tax relief. You can't discriminate...

I've just finished a decade commuting/living in London/Surrey for work (Victoria/Dulwich/Chiswick/Esher etc). Not once did i even contemplate purchasing there. It's bonkers.

Given your age and status i'd be looking to broaden my horizons and work elsewhere. My one regret is having no degree in my profession as it means i can't work abroad generally.

Besides which, i sure as hell wouldn't want to bring up a young family anywhere near London!

ognum

Lgw
I lived in London when I was your age, doing health service training, my partner doing a PhD, we rented a studio in Clapham, we lived frugally because we had to. We moved away to Leicester because that was where we could afford a house! Patner got a job, I worked again in the health service, bought a small house after renting, had first child I went back to work full time to pay the mortgage. I don't think our life was so different to yours at your age.

always_sunny

littlegreenfrog wrote: »

I know it doesn't achieve anything to dwell on what previous generations had. I just worry for the future, that's all. And I know I will get there eventually, but many of my friends won't, and that saddens me greatly.

But the future is fine...it goes down to personalities a lot, some adapt and are flexible more than others. Maybe who knows, in 20 yrs the map of the tube will be very different than today and people are not going to limit to just one area...

Running_Horse

littlegreenfrog wrote: »

My dreams are pretty modest, really. What I'm asking for is pretty small compared to what previous generations have had. All I want is to be able to have a (small) family and raise them in a secure home without the instability that comes with renting. I'm not expecting to be able to afford anything fancy, or to ever own a second property which I can let out so someone young and poor can fund my retirement. But apparently this is asking too much. Oh well.

Do you have a partner and child now? If not presumably anyone you meet would earn a living too, which would allow a bigger property. Somewhere in this monster discussion I think you said you could only afford a one bed flat. It would be great if we could all afford a family house as a FTB, but in many areas that simply is not reality nowadays.

p00hsticks

littlegreenfrog wrote: »

My dreams are pretty modest, really. What I'm asking for is pretty small compared to what previous generations have had. All I want is to be able to have a (small) family and raise them in a secure home without the instability that comes with renting. I'm not expecting to be able to afford anything fancy, or to ever own a second property which I can let out so someone young and poor can fund my retirement. But apparently this is asking too much. Oh well.

You can do all of that, as long as you can compromise on location.

And if you insist on looking back over previous generations, bear in mind that it's only relatively recently that people started to buy houses- 100 years ago the vast majority of the population rented