Trying to get on property ladder - disheartened

Summer69

Thrugelmir wrote: »

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

Yeah I am looking further afield than where I currently live & work ( I definitely can't afford to buy here! )

Blavatsky

Parisians cannot understand our obsession with owning a shoebox often for well over £500 k.It never ends when you begin and for those who have average income get the best rented flat available and enjoy life with great holidays as opposed to toiling forever to pay a mortgage.

Hutch100uk

We're in the same boat. Been renting for years and now in a position to buy there is just NOTHING available. Houses are either bigger and too expensive, or cheap but too small. There is nothing inbetween. We also have no extra cash for renovations so trying to find something which is fairly 'ready to move into' is also proving impossible. Most houses in the right area and the right size/price need gutting out. It is frustrating!

Summer69

Blavatsky wrote: »

Parisians cannot understand our obsession with owning a shoebox often for well over £500 k.It never ends when you begin and for those who have average income get the best rented flat available and enjoy life with great holidays as opposed to toiling forever to pay a mortgage.

If I could afford to rent a place by myself I would! I can't , and don't want to live with 'strangers' the rest of my life

Summer69

Hutch100uk wrote: »

We're in the same boat. Been renting for years and now in a position to buy there is just NOTHING available. Houses are either bigger and too expensive, or cheap but too small. There is nothing inbetween. We also have no extra cash for renovations so trying to find something which is fairly 'ready to move into' is also proving impossible. Most houses in the right area and the right size/price need gutting out. It is frustrating!

It really is


There is still nothing in my price range at all, when previously there were quite a few. The minute I get to the point where I am about to apply for an AIP they vanish! Lol.


Maybe its just slow in the area at the moment...maybe I have been priced out So annoying not knowing...in the meantime I am carrying on slogging myself out to get an even higher deposit.

Bobcrowther

Blavatsky wrote: »

Parisians cannot understand our obsession with owning a shoebox often for well over £500 k.It never ends when you begin and for those who have average income get the best rented flat available and enjoy life with great holidays as opposed to toiling forever to pay a mortgage.

And I can't understand why they'd prefer to make someone else some tidy profit whilst never owning a property, never being able to make the modifications needed or not knowing if you're guaranteed to still be there in five or ten years.

Bippityboppity

Summer69 get your AIP and go and speak to estate agents and tell them what you are looking for. We did this and had EA's phoning us to arrange viewings before properties were even listed on their sites. It seems to be really common practice as I often see properties listed that are marked as under offer/sstc as they appear on zoopla etc.

regprentice

Bobcrowther wrote: »

And I can't understand why they'd prefer to make someone else some tidy profit whilst never owning a property, never being able to make the modifications needed or not knowing if you're guaranteed to still be there in five or ten years.

Are the french the same as the germans. In germany you can expect to be in a rented accomodation for decades living almost as if you owned the home yourself. I read an article which said most long term german accomodation was owned by pension funds...surely a better 'synergy' of the pension and property markets.

Certainly the law needs to change in this country to offer more security and rights to tenants. My BiL has been renting a house in oxford for 5 years..landlord has been constantly saying wont do work as he is going to sell up 'soon', bathroom has mould, crumbling plaster, rusted radiators and pipes..nothing boxed in...there is a 6 inch gap at the end of the bath has rusting pipes and wiring up the wall. In his livingroom the plaster above the window has come off and you can see the lintel. And this 2 bed house in oxford costs twice as much in rent as i am paying to mortgage a 3 bed house near edinburgh.

Hed love to buy his house but house prices are a joke. In oxford its well publicised that they are circa 10x earnings.

Easy to look at the continent and judge their housing market... As a scot ive always looked at english property and though the concept of leaseholds was a joke.

Debtslayer

Summer69 wrote: »

It really is


There is still nothing in my price range at all, when previously there were quite a few. The minute I get to the point where I am about to apply for an AIP they vanish! Lol.


Maybe its just slow in the area at the moment...maybe I have been priced out So annoying not knowing...in the meantime I am carrying on slogging myself out to get an even higher deposit.

I think you need to contact a broker and get an AIP from them of how much you could borrow on your salary with your deposit.
Then you'll have a clearer idea of how much you can afford to pay and you'll be able to put offers in as soon as you see something you like.
Contact EA's and let them know what you are looking for.
When you are searching for properties online put in a figure up to above what you can afford as properties may be listed 5k above your price but you may be able to get in your price range.

amnblog

You sound like the kind of first time buyer that the affordable housing schemes such as help to buy and shared ownership were designed for.

Have you not considered those schemes?