How did you manage to buy your house?

bxboards

It's worth pointing out that home ownership isn't necessarily seen as goal as such in many countries, Germany being the obvious example, where renting has always been fairly common.

I have never wished to get a mortgage - I saw that as 25 year tie and never wanted to comdemn myself to be a wage slave, so I rented in an area while working in an area I could never afford to buy. By doing this over around 12 years in a pretty well paid job, my savings / deposit was actually enough to buy a house outright mortgage free elsewhere.

One thing I would suggest is that you look at one of those charts where they present home prices vs. wage ratios. You can find some really nice areas where houses are affordable, and in decent areas too.

So it can be doable if you save up over the long term and are prepared to relocate if needed, I think the key is to try to build up as much as a pot as possible. I know that will not be easy for many people.

Waterlily24

oooooooooo

VintageBelle

Wow I'm completely overwhelmed by the responses. I hadn't managed to get on here since writing the post and reading what people have written (I haven't managed to read them all yet as my lunch hour is soon up) is really encouraging.


I might be able to get my other half on board but he's the type of bloke who's just content having a roof over his head regardless of who owns it.


I am hoping for a finance boost work wise next year so fingers crossed I can save more. I don't live very extravagantly but sadly have very little to save after bills etc have gone out.


I'm trying to declutter and get rid of a lot of my stuff (bit of a hoarder) and in the process try and make a little bit of extra cash from that. It will also seriously help with having to move stuff from one place to another at some point.


It feels like there is still hope for me and others who are in similar situations.


Thank you for the responses.

Davesnave

Nasqueron wrote: »

The obvious one would be for home owners to stop this cycle of pretending that because a house is a year older it's automatically worth x% more but that's never going to happen. Stop the nimby / oldiwonk obsession with blocking house building, particularly large scale developments so houses become more available thus dropping prices.

I think we all need to be careful about generalising and stereotyping.

In my village, we have a Community Trust, set up with the express intention of building affordable homes to rent and buy. At the inaugural meeting, I don't recall therebeing anyone under about 40 in the room. Now we have a committee, there's no one under 50 on that, and all the main movers and shakers are retired people.

I'm not saying my experience is typical, because there are obviously places, all to easy to spot in the MSM, where a desire to protect is much stronger than a desire to promote growth and new life. There's also a world of difference between something that benefits multi-million pound interests and one where the profit motive is removed.