32 Still Not on Property Ladder. Is this sad?

[Deleted User]

Carl31 wrote: »

thanks

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

haha, yes..! I guess so! It's a bit of an odd experience buying a house from a person .. the people who we bought from thought they'd still have access to stuff they'd left in the garden and loft after they'd moved out. Err.. no. We still get their post 4 years later. They weren't that keen on handing over keys on the day of the move - we had to get all 'solicitory' with them.

A brand new house must be quite fun! Enjoy making it your own

NewHomeOwner_2

Stop measuring your life by someone else's instagram posts.

Buy the house when you're ready not when you think you should be ready.

Stop living your life by numbers. Do you know how many friends I now have in their 30's who's lives suck because they did everything when they thought they were supposed to do it.

ElsieMonkey

I don't think you're sad. I was going to say I think you're normal, like the majority, But actually, it sounds like you're better off than the majority as you CAN afford to buy if you wan't to.

I bought my first place with my fiance, a shared ownership, when we were both 28 (we couldn't have done it as singles so the fact that you can is something to be happy about, it gives you options)! We bought in a new development and what I still think was a cheap price, as there were so many of them to sell, I think that priced it in our favour. We then sold it only 18 months later to make a fair profit on it, before another new development was to be built next door and so would have increased the competition if we waited longer to sell-up. We then moved back in with family to save for a further 12 months (not fun), adding to the profit we made from the sale of the first place (we needed a bigger deposit as we wanted to get out of shared ownership).

We then bought a flat which needed full refurbishment, but went for the worst flat in a really nice area. We lived in it for 18 months, again saving, before being able to completely renovate the place, this was in 2013. When we bought in 2013 if we had waited even a couple of months later to buy we wouldn't have been able to afford it, prices were rising. It was very stressful trying to secure the mortgage at the time, but I knew we would make a decent profit on it in the future once renovated and it was now or never. It was worth it because 3 years down, we're 34 now, the line we are selling for double the amount we paid for it, and are using the equity to buy a house outside of London only requiring a very small mortgage which will improve our lifestyle.

My point is that it is all about priorities. We have continuously been saving, and we both earn average wages and have had very little help from family money-wise. We have made sacrifices - no wedding yet been engaged for 6 years! No holidays. Basic food shops every month. No shopping sprees. We have been very strategic with when we've bought/sold and what we've bought and where etc. I'm reluctant to believe many who complain they can't raise deposits yet they can find the money to party/drink/smoke/shop every weekend.

I have never regretted our choice to buy as soon as we could. I don't think you would either as long as you are sensible and strategic about it, and work out your priorities and long term goals.

AirJoe

Sounds like you have a self confidence problem. Unless your friends have explicitly told you otherwise then no one is judging you except you. Even if they or 'society' or whoever else IS judging you then so what? The only opinion that matters is your own.

You have the means to buy or continue renting. Having options is nice position to be in. It comes down to whether you want to gamble on being locked out of the housing market in order to not compromise the lifestyle you want. If yes, crack on with living life with maximum enjoyment. If no, then buy and be happy that you've given yourself some security. Win/win.

If your choice turns out to be 'wrong' then be thankful that you're a wiser person for the experience and use that lesson next time you come to a similar crossroad.

glasgowdan

spunko2010 wrote: »

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.

Really? Maybe there's another source for your info?
https://en.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate

AdrianC

FIRSTTIMER wrote: »

but I feel like I don't want to be trapped into a location

Right, so why...?

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

Oooh, three whole years away!

It's very unlikely "every house price" will double in three years. What's more likely is that they'll stay roughly static, unless you're in some hotspot bubble.

Cakeguts

There is no rule that you have to own the house that you live in. Some people prefer to rent because they know what they will be spending every month and they don't have to save for emergency repairs to the house. Some people have to move a lot for work. Make sure that your savings are invested well and then buy if you want to.

System

AdrianC wrote: »

Right, so why...?



Oooh, three whole years away!

It's very unlikely "every house price" will double in three years. What's more likely is that they'll stay roughly static, unless you're in some hotspot bubble.

I agree, lack of wage growth will eventually restrict house prices in certain areas. Its all about affordability.

Jon_B_2

spadoosh wrote: »

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.

Pray tell where you live. NMW wouldn't even get you a mortgage on a 1 bed flat in Bristol.

united4ever

moneyistooshorttomention wrote: »

There is a snag to that. OP may never meet that Special Someone. Some of us don't. Motto - get on and get a decent home for yourself anyway on your own.

I hate to think what sort of place I'd be living in if I'd kept waiting...and waiting...and waiting for Him.:eek:

I would agree with this....you need somewhere to live anyway. Time flies and taking a six month tenancy can soon turn into a couple of years and more. If you moved after a couple of years even i still think you'd be better off.