For those aged 26-36 (Your housing situation)

danlightbulb

Im 39 but had a go on the poll anyway. Why is age 36 a relevant milestone?

I used to own a house when I was married but then got divorced so have been renting ever since. Its took 10 years to get enough deposit together to get a place of my own, because although I have a decent job the child maintenance and rent made it impossible to save.

There is a huge weath divide in this country, as evidenced by this poll and posts like the above. It is not appropriately taxed. Maybe if property wealth was taxed properly we wouldnt have runaway house prices.

username901

I'm in my forever home so couldn't care less.if my house is now worth £3m or £3.

Unlike other millennials wife and I started small in a 2 bed starter terrace for 10 years at ages of 22/24, and then moved to our current 4 bed detached forever house a couple of years ago. We sacrificed iPhone contracts, new cars on finance, smashed avacado on toast, designer clothes, holidays abroad, getting wrecked every weekend and not having kids until later so we could get the house we wanted.

When I see friends renting but still living like students and moaning about boomers and the tories, it makes me embarrassed of my generation.

davgray

Myself and my now wife bought our first 3bed semi in the south east when we were 23 in 2009. We managed to save up £10,000 each whilst at college and uni by working part time etc. This managed to get our first house for £135,000. However 10 years later and two children later I’m not sure how we can move up the ladder. The house is now in the range of £230,000 value, so there is roughly £150,000 equity we have in total. However with having kids my wife works part time, my wages have gone up, but basically joint income into the house is the same as it was 10years ago. We could borrow up to around the £200,000 mark, along with the £150,000, We could be looking at the £350,000 range. However add in moving fees etc let’s say £20,000, more like the £330,000 mark. There just isn’t anything that’s any better in the area that’s worth moving for the added costs. We would be having to look around the £400,000 mark to make it worth while. Anyone else hitting this issue that the next step especially with kids is pretty impossible to get to. Quite frustrating seeing 60year plus year olds living in family houses which are way too big for them, whilst young families are stuck in smaller housing.

alesthetime

planning on buying when I'm 45, may have saved enough then

seradane

Me (32) and my husband (35) - no kids - are just now getting around to buying our first home (offer accepted, waiting for exchange!) which is a 3-bed semi in the South East.

We're an odd case as we've moved internationally a couple times so we've had the finances to buy for probably the last 3-4 years but had to find a place we were actually going to stay put long enough to make it worthwhile. Pleased we were able to skip the "starter home" as we feel like we are a bit late to the home ownership party!!

No help-to-buy either, our deposit has come from our own savings, but that was helped along by living at my parents house for about 18 months in a country with pretty high salaries so that really boosted the amount we could save.

LemonadeBudget

Myself (34) and my fiancee (33) have saved the money to buy, we have what would equate to around a 20-25% deposit for our desired type of house. Our difficulty is deciding upon location . . . . . . !

Like Seradane above; quite happy to be able to skip the 2 bed starter home since we're late to the ownership party

We haven't done Help to Buy, ours comes from LISA and savings. Neither of us are on a phenomenal wage, but we're comfortable and we ration the frivolous purchases

**dancingbutterfly**

I (34) husband (41) bought our first property with a 5% deposit, a 3 bed semi in Dec 2018, renovated it and sold it for a reasonable profit Nov 2019 and bought our forever home a 4 bed detached the next street away in our village. 2 house purchases and 1 sale in the course of 11 months....absolute madness, never again! The plan is to sell when we retire and move to the coast.

SallyAnneBooth

username901 wrote: »

I'm in my forever home so couldn't care less.if my house is now worth £3m or £3.

Unlike other millennials wife and I started small in a 2 bed starter terrace for 10 years at ages of 22/24, and then moved to our current 4 bed detached forever house a couple of years ago. We sacrificed iPhone contracts, new cars on finance, smashed avacado on toast, designer clothes, holidays abroad, getting wrecked every weekend and not having kids until later so we could get the house we wanted.

When I see friends renting but still living like students and moaning about boomers and the tories, it makes me embarrassed of my generation.

Agreed, bought our 5 Bed Detached in the Southeast aged 29. Like you we made all those sacrifices too for the past 9 or so years and has been worth it.

katie4

Bought our first home I was 25 husband 32, 3 bed paid just £66,000 with a 5% deposit from Monmouthshire Building Society no work needed to it except updating it to being more modern we got a great bargain now have two children, have put an extra £15k into it (new kitchen and garden landscaping. 20 mins from Cardiff we are sure this is out forever home, maybe until we retire to warmer climates!

willz45

Married 34yo with 2 young children. We managed to buy our first home in 2016 in Hertfordshire with H2B it cost us £400k, we were renting a 1 bed in London previously. In the process of moving into our forever home which we have purchased for £525k, we sold our house for £425k and have been saving to cover the extra.

I know we are incredibly lucky but have worked hard for it, we had no help from family and were renting whilst saving for a deposit. Unfortunately house prices around London are high but so are the salaries (usually)