For those aged 26-36 (Your housing situation)

seven-day-weekend

I can tell you about my son.

Bought a two-bedroom flat at age 32 with help from Bank of Mum and Dad for his deposit, in 2012. Lived in family home until then. He has a Living Wage job at Morrisons.

homeless9

lookstraightahead wrote: »

Why those specific ages? Because I owned my own home at 20, divorced at 30, sold at 40 and rented, now buying again at 50 - where's my choice ?

lol, we all know that anyone aged 50+ is on the property ladder, if those who are 50+ and not on the property ladder then something obviously went very wrong.

The poll is to see how 'millennials' are doing. The thing is - I bet you many people above 36 have voted on the poll so this poll is void anyway.

+ you would think most people signed up to a 'moneysavingexpert' website would be savvy with their money so they are most likely to be on the property ladder or close to being on it.

AnotherJoe

homeless9 wrote: »

lol, we all know that anyone aged 50+ is on the property ladder, if those who are 50+ and not on the property ladder then something obviously went very wrong.

The poll is to see how 'millennials' are doing. The thing is - I bet you many people above 36 have voted on the poll so this poll is void anyway.

+ you would think most people signed up to a 'moneysavingexpert' website would be savvy with their money so they are most likely to be on the property ladder or close to being on it.

Unless they are called "Crashy"

homeless9

Thanks for all the messages....they give a better insight than this poll.....

I am currently saving. I have a huge deposit after saving for years, plus I had a big windfall in the cryptocurrency mania. I have a £180,000 deposit, but I am single, I live in one of the most expensive towns outside of London (Surrey), I have a low paying job....

So even with such a big deposit I can only afford a 1 bed apartment around here and the types of apartment I want are rare (new build, in a small block, ok area, ok size)....

So my dilemma is:

1. Do I move away - much further away, somewhere I can afford a house.

2. Do I buy an apartment, find the love of my life, then buy a house with them.

3. Do I keep renting and investing. I am into the 'risky' investments. Cannabis stocks and Cryptocurrency. I am sure crypto will go crazy again and the Cannabis sector likely has massive growth ahead. There is a life changing opportunity here, of which could mean early retirement or at least an outright buy of a 2+ bedroom house. Obviously there is money to be lost, but I feel I play this game sensibly.


It's interesting to see where I stand amongst others in my 'age group'. Although I have decent savings I still feel poor in that I can't afford to buy a house, I feel that even with all this cash - I am behind others.

davidmcn

Funds derived from cryptocurrency create an interesting headache from a anti-money-laundering regulations point of view.

lookstraightahead

homeless9 wrote: »

lol, we all know that anyone aged 50+ is on the property ladder, if those who are 50+ and not on the property ladder then something obviously went very wrong.

The poll is to see how 'millennials' are doing. The thing is - I bet you many people above 36 have voted on the poll so this poll is void anyway.

+ you would think most people signed up to a 'moneysavingexpert' website would be savvy with their money so they are most likely to be on the property ladder or close to being on it.

Ah but there you have it, stuff does go very wrong and with almost half of the population divorcing nowadays I think home ownership often comes in waves.

Anyway just feeling left out of the poll

ACG

I am 34, I own my own home. I had to buy a doer upper first, we did it up, made a good profit and now live in a nicer house and nicer area.

You need to be realistic, it is not that you can not afford a home, it is just that you can not afford what you want, where you want. If you move out of the south east, you could buy a 3 bedroom semi and live mortgage free in many areas.

I want to live 2 roads further up from where I live now, but house prices are £50k more than our house. The only difference is that it takes around 15 minutes to walk to the village and bars we go to rather than 5 minutes on the street I would like to live on. We could possibly have bought on that street at a stretch, but £50k to save 10 minutes walking once or twice a week just did not seem worth it.

phoebe1989seb

Our (only) child -

Was extremely fortunate to be in a position to buy a two bed flat in Colliers Wood at aged 21 with his girlfriend (same age) and her two younger sisters, one of whom lived there too with her boyfriend.

This was a cash purchase in 2011 with a mix of inheritance and bank of mum and dad.

They sold in 2014, son and gf bought a one bed flat (again for cash) in Brighton while the sisters paid cash for two bed flat to let out in Bournemouth.

This year the sisters sold the BTL flat and are each purchasing their own places - not sure of funding (one is buying in Hastings, the other in mainland Europe), but think it'll be mainly cash.

DS and his partner now have a baby and are trading up to a two bed house which - again in Brighton - is £100k more than what they've sold their flat for. They'll be getting a mortgage for £100k to fund the difference.

Friday1989

I'm almost 30 and planning to buy on my own in the next year. I've been saving since I was about 14. I'm looking to buy on the outskirts of London so it's taking me a lot longer than I would have liked to get on the property ladder. .

artyclarty

I'm 31. My partner and I bought 4 years ago. We were in a position in which we had a sizeable deposit but no credit rating (no credit cards, car leases, loans, phone contracts or anything to build it up) and poor incomes but at least no debt either!



We just kept saving and saving and ended up paying cash for the house. Took us about 5 years of saving together plus any savings we had prior to meeting but we got there!