House prices

Jack_Johnson_the_acorn

HPC_Ghuol_Hunter wrote: »

Dare I ask why you had children if you are struggling. Or do you expect the state (i.e. the rest of us) to fund your lifestyle for you? I am utterly flabbergasted and dumbfounded at such a sense of entitlement.

the wife and I bought are property at ages 25 & 24, we put off having children until I was 30 (5 yrs on) knowing that this would allow us to increase our wealth or be able to budget accordingly if increasing our wealth wasn't possible. I don't get why people my age still expect to be able to buy a property, keep several vehicles and start a family all at once without experiencing some difficulties...

Koldweather1

Jack_Johnson_the_acorn wrote: »

the wife and I bought are property at ages 25 & 24, we put off having children until I was 30 (5 yrs on) knowing that this would allow us to increase our wealth or be able to budget accordingly if increasing our wealth wasn't possible. I don't get why people my age still expect to be able to buy a property, keep several vehicles and start a family all at once without experiencing some difficulties...

It can be done but I think as someone else said it does require some forward planning.

The example of the service station and the coke was interesting, I think my choice would have been nothing, make a drink at home and make sure you have it with you! Cheaper than both options.

I've no doubt the older generations had it hard in many ways, but at least they COULD cheaply get onto the property ladder. Most people I know CAN hold a mortgage financially as they can afford rent, but because they are renting they struggle to build up the deposit required these days. How realistic is it to save for a 30-50000 deposit when 40-50% of your money goes on rent? Backin the mid 90s that 30-5000 probably could have got the WHOLE house in quite a few locations....

However you deal with the hand your given, ifyour a bit limited for funds, you find a way to save harder, or smarter. Do you really need that new Iphone, do you need that costa coffee, do you need that new version of fifa, etc.

ukcarper

Koldweather1 wrote: »

It can be done but I think as someone else said it does require some forward planning.

The example of the service station and the coke was interesting, I think my choice would have been nothing, make a drink at home and make sure you have it with you! Cheaper than both options.

I've no doubt the older generations had it hard in many ways, but at least they COULD cheaply get onto the property ladder. Most people I know CAN hold a mortgage financially as they can afford rent, but because they are renting they struggle to build up the deposit required these days. How realistic is it to save for a 30-50000 deposit when 40-50% of your money goes on rent? Backin the mid 90s that 30-5000 probably could have got the WHOLE house in quite a few locations....

However you deal with the hand your given, ifyour a bit limited for funds, you find a way to save harder, or smarter. Do you really need that new Iphone, do you need that costa coffee, do you need that new version of fifa, etc.

It's all relative, you can borrow more and interest rates are lower now. It has always been difficult to save deposit, in the past very few people rented while they were trying to save and if I had I would not have been able to save deposit. Saying that prices where I live have increased considerably and I think it is extremely difficult for people wanting to buy now. But I don't think it's impossible to save deposit if you plan and are prepared to make sacrifices the problem as I see it is getting mortgage.

3 bed houses near me are about £300k meaning you would need a £30k deposit and a £270k mortgage. To get that mortgage you would need joint earnings of £68k, I don't see saving £30k on those earnings as difficult, the problem is earning that much.

gazzabboi

HPC_Ghuol_Hunter wrote: »

Dare I ask why you had children if you are struggling. Or do you expect the state (i.e. the rest of us) to fund your lifestyle for you? I am utterly flabbergasted and dumbfounded at such a sense of entitlement.

Because when I had children 7 years ago, house prices were affordable! Have you heard yourself?

lisyloo

Koldweather1 wrote: »

It can be done but I think as someone else said it does require some forward planning.

The example of the service station and the coke was interesting, I think my choice would have been nothing, make a drink at home and make sure you have it with you! Cheaper than both options.

I've no doubt the older generations had it hard in many ways, but at least they COULD cheaply get onto the property ladder. Most people I know CAN hold a mortgage financially as they can afford rent, but because they are renting they struggle to build up the deposit required these days. How realistic is it to save for a 30-50000 deposit when 40-50% of your money goes on rent? Backin the mid 90s that 30-5000 probably could have got the WHOLE house in quite a few locations....

However you deal with the hand your given, ifyour a bit limited for funds, you find a way to save harder, or smarter. Do you really need that new Iphone, do you need that costa coffee, do you need that new version of fifa, etc.

Decades ago people didn't try to save for a deposit whilst renting. They stayed with their parents even after marriage to save up.
The nature of work is different now and it's not possible for everyone to do that.

There are ways to do it though, for example both take an evening job and put off having kids for a year of two whilst you save up. Hard work but not rocket science.

economic

gazzabboi wrote: »

Because when I had children 7 years ago, house prices were affordable! Have you heard yourself?

if they were affordable, then why didnt you buy then? did you miss the boat and are now kicking yourself for it?

lets be a little realistic here please. no one is entitled to property. you have kids so you are saving less then someone with no kids. you say you work hard, but how much do you make? how much you make is wat really counts, relative to the house prices in your area.

if you cant afford a house - it means you either need to go cheaper and/or look at earnign more money and spending less.

it really is your own fault and no one elses you cant afford.

economic

lisyloo wrote: »

Decades ago people didn't try to save for a deposit whilst renting. They stayed with their parents even after marriage to save up.
The nature of work is different now and it's not possible for everyone to do that.

There are ways to do it though, for example both take an evening job and put off having kids for a year of two whilst you save up. Hard work but not rocket science.

why isnt it possible to do that now? people can commute even from outside of london into the city of london for work. i knew someone who used to commute everyday from bristol into london for work!

people born to parents who have a home in london can easily save for a deposit if they stayed with their parents longer to commute into town for work. it really is a simple choice - stay with family to save on rent to buy a house later or rent and buy house much much later.

chucknorris

economic wrote: »

if they were affordable, then why didnt you buy then? did you miss the boat and are now kicking yourself for it?

lets be a little realistic here please. no one is entitled to property. you have kids so you are saving less then someone with no kids. you say you work hard, but how much do you make? how much you make is wat really counts, relative to the house prices in your area.

if you cant afford a house - it means you either need to go cheaper and/or look at earnign more money and spending less.

it really is your own fault and no one elses you cant afford.

Some people say they work hard, but I suspect some of them really don't know what hard work is. When I was in my 30's I was working at least 50 hours a week in my day job (chartered quantity surveyor) and I was also working building up and running two of my own businesses (that 10 years later were making more money than my salary). If he was working as hard as I was, he would never see his children, and I mean never! Except for extremely brief moments. I worked late(ish) every evening, and quite late other nights in my day job, and for the businesses every weekend, some evenings (after work) and all my holidays too. I never actually had a holiday from 32 to 42 years old, apart from 1 week, and it created so much pressure I never had another one for many years. I couldn't do it now, to be honest, I would rather be dead, than have to go through that again, but back then I was really driven, I wanted to become financially independent.

economic

chucknorris wrote: »

Some people say they work hard, but I suspect some of them really don't know what hard work is. When I was in my 30's I was working at least 50 hours a week in my day job (chartered quantity surveyor) and I was also working building up and running two of my own businesses (that 10 years later were making more money than my salary). If he was working as hard as I was, he would never see his children, and I mean never! Except for extremely brief moments. I worked late(ish) every evening, and quite late other nights in my day job, and for the businesses every weekend, some evenings (after work) and all my holidays too. I never actually had a holiday from 32 to 42 years old, apart from 1 week, and it created so much pressure I never had another one for many years. I couldn't do it now, to be honest, I would rather be dead, than have to go through that again, but back then I was really driven, I wanted to become financially independent.

i think you should be proud of your achievments. you must get a sense of satisfaction having worked hard and done well compared to if you had gotten rich from winning the lottery.

what drove you to become financially independent?

my dad worked hard too when i was young. he had two jobs - worked 60 hour weekdays (not including the 2 hours a day travel time) and weekend job too. he worked hard and saved and is now in a very good position - hes already retired comfortably. it sickens me that people (especially the younger generation) actually think my parents generation did not deserve the wealth and that it should be taxed with some even suggesting a 100% inheritance tax. specially when now we have so much more in terms of quality of life that my parents generation never had. these people really are evil.

HPC_Ghuol_Hunter

gazzabboi wrote: »

Because when I had children 7 years ago, house prices were affordable! Have you heard yourself?

To be honest I am not sure why you are trying to shout at me in such an abrupt manner. I certainly didn't make, nor ask that you and your overweight partner breed, least of all that you fail to adequately invest in your own, and subseqnetly your own childrens future. A little bit of decency and self-restraint minght not go amiss on your side. :beer::j:money::p;):D:o:cool::rotfl::T:A:)