32 Still Not on Property Ladder. Is this sad?

Carl31

isnt the average age of a FTB like 37 now?

Anyway, whys it Sad? who knows what the situation is of other people buying houses?

For the record, I am 36 and picking up the keys of my first house today

chelseablue

I bought my first property when I was 27 as a single person.


I can only speak from my experience but I don't regret buying when I did, in fact I'm very glad I did.


Lived there just over 5 years until Feb this year when I bought a house with my partner.


What area of the country are you in?

spadoosh

phill99 wrote: »

I think it is sad that in the history of Western Civilisation, that this current generation is the first generation who are poorer than their parents. Coupled with this is a housing market coupled with a highly restrictive lending platform that makes it impossible for young people to get on the housing ladder. Allied to this is a social housing market that has seen no investment since 1979 and a completely unregulated lettings market that exploit the most vulnerable.


And the worst thing is that successive governments since 1979 have failed to accept or address the problem.

Dont blame governments for people life choices. The amount of people i know with riddiculous incomes yet are 'poor' is silly. Im NMW own my own house, have a kid and am under 30. Its called priorities.

My mum was telling me the other day that she used to cut holes in my baby grows and put socks on my feet so she could save some money (shes not tight either). Most of my christmas presents where on tick. Ive got enough clothes to last my baby till shes 5, with every accessory going. Still got my £40+ a month mobile, sky tv, broadband, car, every piece of equipment for the modern home and your telling me im poorer than my parents?

Im on easy street and thats true for the vast majority of yoof, never struggled a day in my life yet my parents had to make choices like new baby grows or feeding me.

Stop pitying the youth, thats why their in the situation you explain.

When ive done all the things you say is impossible, it doesnt wash.

[Deleted User]

Carl31 wrote: »

isnt the average age of a FTB like 37 now?

Anyway, whys it Sad? who knows what the situation is of other people buying houses?

For the record, I am 36 and picking up the keys of my first house today

Enjoy your new house feeling! That odd sensation of closing the door, and thinking "this is all mine!"

ps. Check that they haven't left loads of stuff in the loft

PlymouthMaid

It took every penny I had to buy my first flat so no chance of saving more first. Went for it as it was so much cheaper and more secure than renting. I actually did have cardboard boxes for tables with throws over them. Putting things on credit wasn't a massive thing in the Eighties so far as I knew and I have never heard of 0% credit cards and probably would not have got a very high credit amount if so. I had second hand furniture for years and even now 25 years later I only have a few new pieces such as my leather suite bought on interest free credit. My generation are generally more surprised that new buyers expect to have everything new and in place when they buy. I still can't afford to recarpet the house I am now in and it is well overdue but I definitely do not want a credit card balance which I may not be able to pay off.

OP - I wouldn't rush to buy unless you are reasonably settled in your area anyway as the last thing you need is negative equity at a time when you may need to move.

Peter333

FIRSTTIMER wrote: »

Hi,

I turned 32 this year and feel like I should be with partner and in a house that I actually own, but I feel like I don't want to be trapped into a location, but then also feel like I should buy now like most of my friends have. I feel like society tells me to buy because I have the money, a good job, a good deposit. Anyone else feel like this?

Then again, I don't want to be sat here at 35 saying I cannot now afford to get onto the property ladder as every house price has doubled.....HELP

No you're NOT sad. Millions of people are in the same boat as you, and despite what we were all told in the 1990s, you are not a loser or a failure if you're not a homeowner. There are a lot of benefits to renting. Especially social housing (if you can get it!)

Paulo123

We are exchanging any day now and I'm 35, its been a hard long slog saving deposits especially as we have 2 kids and have been renting after being left in an awful situation by my ex over 10 years (disappeared and left me with loans she had taken in my name that I was none the wiser to)

Cleared the loans, saved 40k and have just bought a 4 bed detached that we cant wait to finally own! Its never too late!

jimpix12

How tragic that our worth is apparently measured in the size of, or ability to get, a mortgage. OP, I am sure you could have been a homeowner 10 years ago if you really thought it was necessary. 0% credit card, shared equity, living with someone you don't love, or maybe even all three... Just to get a false sense of security from bricks & mortar.

Life is too short to worry what other people think. Many other people are in your situation, willfully or not.

Note that in mainland Europe the majority of people rent, they don't buy homes. It's only in the UK that there's this "need" to buy - probably part of the reason why our homes are so tiny and shockingly poorly built.

Jox

I bought my one bed flat when I was 30 and my parents helped me with the deposit (it was my wedding fund...I never did have the wedding they saved up for!). 3 years later met my partner (and had a cheap registry office wedding abroad), 6 years later my son was born and now he's 2 we are hoping to buy a house. Buying my one bed flat was cheaper than renting every month and at least you are paying your own mortgage and not someone else's!

Carl31

ringo_24601 wrote: »

Enjoy your new house feeling! That odd sensation of closing the door, and thinking "this is all mine!"

ps. Check that they haven't left loads of stuff in the loft

thanks

i hope not, its brand new, be a bit weird if there was