What chance does a twenty something year old have in the South? Anyone else in a similar boat?

BucksLady

tommysaver wrote: »

To me, it seems the only viable option is to move 100+ miles away at the minimum, and start a new career - which has many problems in itself and doesn't sound great to be honest. (My line of work isn't easily transferable...)

:beer:

I would say ''go for it''. You have nothing to lose and plenty to gain. In your situation I would look earnestly (and I know it won't be easy) for a new job in a suitable location and then plan to move forward step by step. Otherwise, I can see you living with your parents whilst celebrating your 40th birthday:D.

I'm from Bucks originally, went to uni in London and my first job was in Germany. It was all really scary at the time. It's so difficult to move out of one's comfort zone, but if progress is to be made, it has to be done . I've not regretted my decision for one moment.


Good Luck

bugslet

ruperts wrote: »

When house prices for first time buyers were barely more than twice average earnings. For those of us who have never known house prices to be less than four times average earnings at a minimum, it's amazing to look back and see what we could have afforded, even with your double digit interest rates.

Provided you had a job. I left school in '82 age 18 when mortgage rates had tumbled from 14+% to 10%, but on the other hand if there are three million unemployed, you aren't going to get any mortgage anyway.

There's always something that's better and something that's worse for every generation.

I understand the OP wants to stay where he is, but many people move around the country for various reasons. I live in a 3 bed semi, the average price on the road is <140k, 2 bed terrace 5 mins walk away 82k with nothing to do to it. Yes jobs pay a bit less than down south, but not so little that house buying is out of reach in the way it is down south. My van drivers earn over 30k, so one salary could easily get a terrace or perhaps a fixer upper in my road on one salary.

zagubov

homeless9 wrote: »

There is no denying that house prices are waaaay too high.

I am in my mid 30's living with other people in a house share who are in their 30's and 40's, who can't get onto the housing ladder. We are living in the South East, Guildford to be exact.

I came out of University in the middle of the recession and have saved ever since. I have saved £10,000 per year for the past 10 years......guess what..... 2 bedroom homes have risen £100,000 in the past 10 years, and that's in the smaller, less desirable towns surrounding Guildford.....

Guildford isn't the kind of place where houses have been affordable for a long time. You might find better luck if you look at prices in the Woking area.

ukcarper

zagubov wrote: »

Guildford isn't the kind of place where houses have been affordable for a long time. You might find better luck if you look at prices in the Woking area.

I can remember walking into an estate agent in Guildford in early 70s with my wife after telling agent what we could afford he just showed us the door.

happyandcontented

HPC_Ghuol_Hunter wrote: »

If the nearest top tier university is hundreds of miles away from the family home then how do you profess one attends said top tier university without relocating? Polytechnics are 2 a penny though as you and your brood know only to well, eh?

Yes, perhaps they are two a penny, but, as you have no idea where I live I am not sure how you can make a definitive statement! Nor is everyone who attends such institutions beneath contempt as you seem to be implying.

In any event, if you read my first response to you I clearly said that they lived away 'when at university' then, when they graduated they returned to our home area (which FYI does have several top-tier universities) started their careers and bought their own homes locally.

I am not sure comprehension is your forte.....

You come across as very bitter and begrudging. I am sure you have your reasons, which was my initial point.;)

Herzlos

Your best bet is finding the upper limit of your commute and get something you can afford, hoping it'll appreciate in value well enough to fund your next hop up, or save up until we start recovering from the next recession.


Despite what some arrogant posters think, there's nothing wrong with lodging with parents in your 20's, renting separately is just throwing money away

happyandcontented

Herzlos wrote: »

Your best bet is finding the upper limit of your commute and get something you can afford, hoping it'll appreciate in value well enough to fund your next hop up, or save up until we start recovering from the next recession.


Despite what some arrogant posters think, there's nothing wrong with lodging with parents in your 20's, renting separately is just throwing money away

I couldn't agree more. Saving for a deposit is hard and if you can live cheaply at home it helps enormously.

Herzlos

HPC_Ghuol_Hunter wrote: »

I simply do not believe you and thankfully that is also the prerogative of all readers here. The reason I do not believe you, especially your fanciful, fictitious stories of a successful brood, is that you made a direct false assertion that anyone can live at home and attend a top tier university. The simplest of imbeciles with even the slightest signs of brain cell activity would know that that is utterly false. Get back in your box and let’s get you back to the poly.

Now you're just making yourself look like a rectum.
There's nothing special about top tier universities with regard to accommodation arrangements.
No-one has go move out to attend one.
People may have to move out if attending any school or workplace which is too far away to commute, but I think most people see that as so obvious that it doesn't need stated.

happyandcontented

happyandcontented wrote: »

You can have a successful career and still remain close to family and friends though. You may have wanted to move hundreds of miles away but was it necessary? My sons are all high fliers and still all live ( in their own homes) within 3 miles of the family home. They lived away at university, but all secured good professional jobs reasonably close to home.

No need to cut the umbilical cord quite so drastically unless there are other issues in play.

HPC_Ghuol_Hunter wrote: »

I simply do not believe you and thankfully that is also the prerogative of all readers here. The reason I do not believe you, especially your fanciful, fictitious stories of a successful brood, is that you made a direct false assertion that anyone can live at home and attend a top tier university. The simplest of imbeciles with even the slightest signs of brain cell activity would know that that is utterly false. Get back in your box and let’s get you back to the poly.

My original post is quoted above.

I did not say that anyone can live at home and attend top-tier universities. My kids all lived away when they attended university but returned to their home area afterwards. Really, what is so hard to understand about that?

As for your comments below, I will leave others to read between the lines as to why you are so venomous.

I would like to know which you consider to be top tier universities though and why no one can possibly live near them.

I would also like to know what has made you so bitter.

FTBlalala

So OP, lively conversation going on, lots of interesting points.

I bought my house this year at age 24 in Berkshire, it can be done. Luckily, I have a partner, two incomes massively helps the mortgage application. We were realistic about what we could afford in our area. Not a house but not a flat. A purpose built 2 bed maisonette with a garage in block. Currently OP'ing to increase equity, best laid plans will be to start the house hunt in 5 years or so but who knows what will happen.

If I didn't have my partner, I would of bought with my sister or a friend. This is probably your best option other than shared ownership. I have lived at home and rented privately and enjoyed the independence and freedom so knew I wanted to push for a foot on the ladder.

In terms of house prices, I really don't like the back and forth - it's so hard now, it was so easy back then.

At a high level, 20 somethings are maybe slightly worse off due to needing a lump sum of minimum £5-10k up front to buy but overall it's mostly balanced **IN MY OPINION**. My parents house is a perfect example of this, 3 bed terraced they bought it in '97 for £70k 25 years 9% (varied from 5% to 15% up to 2011 when it was 1.5% fixed until 2018 when sold) and sold it for £315k 2018. So £315k at an average rate of 3% give or take for the new home buyer that will have needed £15,750 minimum deposit.

If you do the proper analysis with inflation and salaries at the time etc, paying 12% on £70k isn't as much as paying 3% on £300k for the same house for the same mortgage length but it's close so that's just life, no one is better off, everyone has their circumstances and hardships.

Sorry for the long one, just wanted to give another view from a 20 something who has bought a house in the south.