For those aged 26-36 (Your housing situation)

excelwizard

I'm 26 (turning 27 in September) and am currently buying a 2 bed flat with my partner who is also 26.

Flat valued at 195K and we're putting down a 25% deposit (circa 49K). Saved by both myself and my partner over the last 3.5 years and 5K of my half has come from my mum and dad.

I'm glad I've waited this long as my taste in property has changed over the years. We've rented for the last 4 years and lived in three different properties which has given us the invaluable experience of living in different types of properties which we've used to narrow down what we want to buy.

phoebe1989seb

When I was 26, DH (three years older) and I were living in a four bed detached house on the south coast of England that my parents helped us with the deposit for the year before. The mortgage was quite small comparatively speaking but neither of us had particularly well-paid jobs - I ran my own business and DH was an interior designer - so it was quite a struggle, but we learned to DIY competently and gradually renovated the house over several years.

We sold it when I was 30 and bought a much larger (but less expensive as it was a major fixer-upper) house in a better part of the city. We stayed there ten years and paid the mortgage off early, making a decent profit when we sold

Edited to add - DS (29) and his GF (30) yesterday completed on the sale of their one bed flat/purchase of their new three bed renovation project terraced house......yay! :j

lookstraightahead

PasturesNew wrote: »

If you'd asked me when I was those ages:

26-29 still with parents
29-31 in a caravan
31-36 in a SO studio flat on a council estate 10 miles out of town
37 bought myself out of negative equity by writing out a cheque, moved, had no job, started all over again.

Life isn't one straight line for many.
Always single, still single.

See this is why you can never plan so far ahead and I really think people should tread with caution. House ownership can be a hindrance. Here's mine ...

Moved to London at 22 with long term boyfriend (no help from bank of mums and dads and 22 was def time to move out - not fair on them)

Bought flat with boyfriend/husband
Made a lot of money on flat when we sold it
Bought big house, had baby
Husband had affair, house plunged into negative equity
Sold house left with lots of debt
Cleared debt now remarried
Buying again

My life is deffo not one straight line

patch9495

24, northerner moved to London with girlfriend due to work.


Purchased 2 bed bungalow in London 25% deposit with potential to convert the loft to 3rd bedroom (will do the sums nearer the time to ascertain if this would benefit us more than moving into a bigger house with larger mortgage). Naturally horrified by house prices


Currently overpaying mortgage and will release equity at the end of our fix to either convert the loft or purchase a BTL back home, using the extra money generated from BTL to overpay the rise in mortgage from remortgaging to release equity.


The is the long term plan anyway...

need_an_answer

The OP hasn't been back since mid may to comment on this thread...I'm assuming its of little interest to them now...


however its quite interesting reading others housing history for those who want to continue to post....

JohnMl88

31 and 30, we are renting, we’d like to buy in 2-3 years. Our joint savings are only 36k, London is very expensive.

KukiNoki

Moved to London last year and looking to buy in London SE Bromley (cheaper I believe compare to other parts of London).

Any recommendations.

£40K Deposit with £40K Salary.

MovingForwards

Haven't answered the poll as I'm in the wrong age group.

At 40 I walked away from a marriage and a home, had / still have the option of buying it from my ex; I've moved on a lot and don't want to even though I could have it for one hell of a price.

3 years on I've nearly got my deposit together ready to buy a home, without H2B / SO etc. Looking like it will be this year I can start looking.

dan958

KukiNoki wrote: »

Very well done at 26 for owning one in South East

Thank you. I could not have done it without my parents help. I was able to live with them while paying only a small amount of rent. This meant I was able to save quite a lot of my paycheck each month.

CheBee

I think I posted a few months back. I have just bought a flat with two bedrooms and ensuite in Croydon. No help from family, a partner/spouse or help to buy schemes. I'm 32. It's possible! I'm just hoping that the regeneration of Croydon happens but either way I am happy :money: