Trying to get on property ladder - disheartened

Summer69

I am a single 35 year old trying to get on the property ladder. I have worked hard the last few years saving a 'large' deposit - working overtime and taking on a second job. I calculated what deposit I needed based on income, areas I could afford to live, property prices in those areas etc and have been updating these checks constantly the past few years. I am now almost near the deposit I was aiming for (£60K) and now I cannot find a single property at the price I was looking at (£180K ish) .


I don't know if I am unlucky and there just doesn't happen to be anything available at the moment, or if property prices have risen (there were properties available at that price up until a few weeks ago...) but I am feeling incredibly disheartened and that all this hard work has been a waste of time What if nothing now becomes available at the price I can afford? I could continue to work my butt off to raise an even higher deposit, but by the time I have done that the same thing could have happened again.


I know no one has the answers to what has/will happen but just feeling so discouraged and useless atm

Grenage

I assume you're in London if you can't get anything for 180k?

Still, good job on saving 60k. All I can really suggest is that if you do want to own a house, you keep looking and buy whatever you can afford in the area (if it becomes available), or move somewhere where property is more affordable.

ACG

Just keep looking and saving. Someone could be meeting estate agents this week in readiness of putting their property on the market.

Dont forget it has (or currently still is) the school holidays. Things tend to slow down around the school hols.

If the market has increased then you have 2 choices, carry on saving and hope at some point you get in the right position, find a doer-upper (I did this and have made a small fortune in the years) or mope about the housing market. The latter helps nobody though.

evo21

I am in the same boat. Really struggling to find places my partner and I can afford, and the one that we have finally found is yet to pass a valuation. I am truly disheartened also. It's an emotional roller coaster trying to buy somewhere! Genuinely considering packing it all in just moving further north where the properties are much more affordable.

Summer69

Grenage wrote: »

I assume you're in London if you can't get anything for 180k?

Still, good job on saving 60k. All I can really suggest is that if you do want to own a house, you keep looking and buy whatever you can afford in the area (if it becomes available), or move somewhere where property is more affordable.

I am already looking at the cheapest areas unfortunately There are a few cheaper properties but they are not in nice/safe areas and as a single woman I just wouldn't feel safe living there

Thrugelmir

evo21 wrote: »

Genuinely considering packing it all in just moving further north where the properties are much more affordable.

Many people myself included, had to move some distance in order to afford my first property. That was some decades ago too. Nothing new.

Summer69

ACG wrote: »

Just keep looking and saving. Someone could be meeting estate agents this week in readiness of putting their property on the market.

Dont forget it has (or currently still is) the school holidays. Things tend to slow down around the school hols.

If the market has increased then you have 2 choices, carry on saving and hope at some point you get in the right position, find a doer-upper (I did this and have made a small fortune in the years) or mope about the housing market. The latter helps nobody though.

I hope it is just slower at the moment then


I can't afford to re-do a property unfortunately - will have enough for deposit, fees and furnishings but not for any major work

chelseablue

Don't give up is my advice, you've done so well already


I purchased a 2 bed flat alone when I was 27, in Berkshire, SE England so an expensive part of the country.


Took me 5 years of working 2 jobs to save up the deposit.


Where about's are you looking?

missbiggles1

Summer69 wrote: »

I hope it is just slower at the moment then


I can't afford to re-do a property unfortunately - will have enough for deposit, fees and furnishings but not for any major work

A doer upper can be perfectly habitable until the time you can afford to renovate. Avocado bathroom suites, tired dated kitchens and no central heating are all perfectly possible to live with for a few years until you've saved some more money.

Summer69

chelseablue wrote: »

Don't give up is my advice, you've done so well already


I purchased a 2 bed flat alone when I was 27, in Berkshire, SE England so an expensive part of the country.


Took me 5 years of working 2 jobs to save up the deposit.


Where about's are you looking?

Ah thank you


I'm in Surrey

Thrugelmir

Summer69 wrote: »

I'm in Surrey

I was too, used to walk to work. Bought a flat in Biggin Hill initially and had to commute back.