First time buyer dreams.. can we do it?!

fairy_lights

I'm going to be a Debbie Downer and say no, you can't do it. On your current combined income I just don't think it's realistic.
Even if you could scrape together enough for the deposit, and got a mortgage, I think you would struggle on your current combined income. How would you cope if the boiler broke of the roof started leaking and you didn't have any savings or disposable income to fall back on?
I think getting better paid jobs should be your priority.

Crashy_Time

AdrianC wrote: »

Have you ever heard the quotation, usually attributed to Einstein, Mark Twain or Benjamin Franklin, that the definition of insanity is doing the same thing over and over again, but expecting a different result...?

Like keeping your house on the market for "What it`s worth" even when it is obvious that it will never sell? Yes I am familiar with the idea.

Crashy_Time

glasgowdan wrote: »

OP - I would listen to people here with experience... a couple above simply know nothing about the housing market.

I'd place great importance on comfort and lifestyle, and area is one of the biggest factors in this. Try and get something bearable in the area you want to live in, at as low a cost as possible, and view the next few years as time to save and prepare to move on. That's what I'd be planning. Giving a landlord £800 a month is useless. Compare this to the interest element of the mortgage (around £200 of a £500 bill), and a typical overall cost of £250/m to run a house (NOT bills... this is what might be needed to go towards maintenance/upgrades/lifecycle costs) you'd still be £350 a month better off (given that the other £300 of mortgage is being invested).

Serial property renters/daily mail readers are really not the best people to listen to!

Still better advice than EA`s IMO.

AdrianC

Crashy_Time wrote: »

Like keeping your house on the market for "What it`s worth" even when it is obvious that it will never sell? Yes I am familiar with the idea.

Great. So you'll see how it's also applicable to banging on and on and on and on about how [STRIKE]the big bad wolf is coming[/STRIKE] house prices are going to fall drastically.

Crashy_Time

AdrianC wrote: »

Great. So you'll see how it's also applicable to banging on and on and on and on about how [STRIKE]the big bad wolf is coming[/STRIKE] house prices are going to fall drastically.

Or like banging on and on and on that we were going to leave the EZ, Clinton wouldn`t win, Aberdeen was going to crash, the political tide would turn against BTL, The London bubble was unsustainable etc. etc.?

AdrianC

Crashy_Time wrote: »

Or like banging on and on and on that we were going to leave the EZ

If, by "EZ", you mean Euro Zone, then thank you for confirming my suspicions about the quality of your information so eloquently. As for the rest, well - a stopped clock, an' all.

glasgowdan

And why have Aberdeen property prices dropped? Brexit? A UK-wide bubble bursting?

Still better advice than EA`s IMO.

This I agree with!

AdrianC

glasgowdan wrote: »

And why have Aberdeen property prices dropped?

Oooh, is it something to do with...

Crashy_Time

AdrianC wrote: »

If, by "EZ", you mean Euro Zone, then thank you for confirming my suspicions about the quality of your information so eloquently. As for the rest, well - a stopped clock, an' all.

Awwww...not enjoying your Brexit/Trump/ BTL as tax target world then.......:rotfl:

Crashy_Time

AdrianC wrote: »

Oooh, is it something to do with...

Nothing to do with the availability of credit of course..:grouphug: