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

zagubov

I was discussing on an earlier thread how a bunch of us walked along the Thames from Putney to Waterloo a few years ago. There's stacks of construction of new apartments. None of it occupied, giant white elephants built to be investment opportunities for foreign investors and speculators.

And completely irrelevant to the housing needs of locals.

This is a parallel process to gentrification which involves more affluent locals moving out of parental homes to start their own families.

But they're competing for the same building land.

Rosieandjim

poorweelass wrote: »

I think you are missing a point

Your first home needn't be your family home

Im a Londoner, first flat was beside a pub which had drug dealers and prostitutes working from it, beside a tube station

But the flat was beautiful, secure, with parking

Then we needed another bedroom or two so we moved a bit further out - still on a tube line - got a small mid terrace which was a doer upper, lived in it whilst doing it up, and then sold that for nearly 4 times what we paid for it and then bought the "family home" in a much nicer area, where we have taken pay cuts, but can afford to now as the mortgage wasn't so high then with over payments we became mortgage free within 10 years

Being a Londoner, all that was important to us at the start was we were on a tube line in and out of the city. We were young enough to cope with the commutes. As most Londoners will say, we worked and commuted so many hours that all that was important for us in choosing our first homes were that the neighbours were good enough

That, I think is the price you pay for living and wanting to stay in the area. None of my family now live in London as each house move moved us further away. None of us thought our first purchase was ever going to be our last

This is the only way I can see you getting there. If you wanted it that badly you would find a way or you need to accept that you are not going to be able to buy unless you inherit anytime soon.

HPC_Ghuol_Hunter

What is the problem with being a real man, standing on your own feet, and renting? Are you single? Do you take young men back to your mother and fathers after a night out? I’d be embarrassed and ashamed to do such an act.

Barny1979

HPC_Ghuol_Hunter wrote: »

What is the problem with being a real man, standing on your own feet, and renting? Are you single? Do you take young men back to your mother and fathers after a night out? I’d be embarrassed and ashamed to do such an act.

I agree with this apart from the phrase "real man" awful.

jonnygee2

What is wrong with renting? Would give you self-sufficiency, mature outlook and reliance on being your own person. I presume you are single?

Are you a landlord by any chance?

malkie76

lisyloo wrote: »

Luton is I believe about an hour from kings cross.
There are places like woolwich arsenal (I think 8 mins from Canary Wharf) that are being gentrified first As they are much closer.

Lots of other areas I can think of - Vauxhall’s, tower hamlets, Whitechapel that are much closer that would get gentrified first.
Trouble is it all seem to be luxury flats that.go up min £400k.

You need to get in with an ordinary home first and then hope to benefit from gentrification. Nice trick if you can do it.
Personally I think Luton is quite a long way down the list due to having quite a few dumps closer to central London.

It’s closer to 30mins by train. As is Stevenage which is another south east option.

Barny1979

jonnygee2 wrote: »

Are you a landlord by any chance?

I wish!!!!!

jonnygee2

I wish!!!!!

Well you seem to be a good job of advertising their services!

Personally, I think we are too fast to move out in this country. In many cultures its normal to live as a family until you have a new family. It's more cost effective and also more social.

Barny1979

jonnygee2 wrote: »

Well you seem to be a good job of advertising their services!

Personally, I think we are too fast to move out in this country. In many cultures its normal to live as a family until you have a new family. It's more cost effective and also more social.

Better than still living with their parents when they've reached their 40s, still hoping house prices will drop.

jonnygee2

Better than still living with their parents when they've reached their 40s, still hoping house prices will drop.

Why is it better? My sister and her son live with my parents. Parents take care of the kids, which they love. Family is a unit. Sister is rent free.