How do people afford it alone?

nyc_451

How much on average is a studio flat in your are? And do you intend to stay there or would you consider moving?

_Amaryllis_

I'm currently buying my first house with my husband as a financial dependant because he's a full time student. He hasn't contributed to the deposit either.

I've been living with my parents since I finished uni 6 years ago.

PasturesNew

I did it by waiting until I was 40, waiting until I had a short-lived "lucky break" in income .... and when I'd moved 350 miles from where I grew up .... then I banged it all through as quickly as possible as these events were unlikely to occur ever again.

Then I stayed in, with the lights out, in an almost bare house for 7 years as nothing was going right, but the house value was increasing by £1k/month ..... then I sold it as I couldn't bear to sit in there a further 10 years

csgohan4

yes, I moved out of London

Peelerfart

North/South divide anyone?

I'm a northerner but have relations in the south. I hear the stories, and like this thread, they just illustrate, how different things are.

LateStarter

20 years ago I was making 22k in London and couldn't afford to buy in any location I wanted to live. I moved to the Midlands - and honestly have no regrets.

enthusiasticsaver

Buying your first property alone is tough and even more so in expensive areas. Our elder daughter doesn't have a partner and bought a 2 bed flat in her chosen area as she could not afford a house on her own. She is in a higher than average paying job. Luckily she has just been promoted which comes with large pay rise so hopefully in a few years time she can move to a house in her desired area.

If you can't afford what you want choosing something which needs work or in a cheaper area is an option.

zagubov

I live in London. No homes are affordable for a single person. They'd be renting with others, living at home or lodging in digs. If they can get together financially with others they might own a flat, but later, in their thirties.

I bought after I married, in my thirties. It wouldn't have been possible for either of us on our own.

All the single people I know down here only bought houses on their own after they moved to points north where they could get good value for their money. There's no such thing down here.

martinthebandit

If you spend less on non essentials, think phone and sky contract etc then it's still possible.

As it's ever been, it's go without to get ahead.

Farmer_Johnson

Loz01 wrote: »

Trying to buy my first house. I work, earn £10.70 an hour working in an office (so not exactly low pay, in my books anyway) - it seems impossible Im ever going be able to buy a house! Is it only possible in a couple or with a friend/sibling? According to a mortgage calculator, they'd lend me 61k. Down here, that would buy you a garden shed (....maybe!!! ) - seems like Im destined for renting forever. Is it do-able to buy a house alone, has anyone done it?

As others have said, £10.70 is not great money. If you are only doing 40 hours a week or so then yes, it’ll be a struggle. While you save it’s also worth having a look at what you can do to work towards earning more.

I went back to university many years ago and did a doctorate when I realised I’d started a career without great prospects but you don’t need to do anything so extreme. You can work towards a promotion, for example, or just slowly up your skills to make yourself more appealing to the next firm.

What is it that you do? You say “down here” which suggests the South. Bar managers can bet more than you are on, as can plumbers, warehouse managers, secretaries and so on.