Buying a house without a mortgage

shellshell

Hello everyone.

I am a new member and have been reading everyones posts and i hope you dont mind but i would love to join in and save some serious money and be able to buy a house out right, you have all inspired me. Thankyou. If anyone could give me any money saving tips or advice in how to stay motivated i would be very grateful.

havent really thought into too much detail as to what i can save yet as hubby lost his job two weeks ago (thankyou credit crunch!) and im on maternity leave so cant do any work at all until may, but am going to go through mums loft and start sorting all my junk out, and do a stint on ebay.

i live in devon so realistically your average 3 bed semi will cost approx £150,000 although something that needs a bit of work is ok (hubby is diy freak lol) anyways possibly thinking of setting an initial target of £50,000.

okay, thats me so thanks for listening to my ramblings am now going to do some sums x

pavlovs_dog

welcome to MSE shellshell :wave:

zack1978

I did buy a house without morgage in 2000 (aged 22)

My tip was that i stayed with my parents (6 yrs) when i left school in 1994 and payed them a little rent as my parents were morgage free.

I worked in my dads business and in 2000 had saved up.

shellshell

okay, so went away after last post, did my sums and nearly fainted! as you see from my sig. i owe a fair bit of money so i guess my new goal for 2009 is to clear that and then start on the savings for the house. so in the mean time i wish all of you mfw's the best of luck aillpower permitting i will be back very soon xx

Frugaldom

Welcome Shellshell, my best advice for finding ideas is simply to read the MSE forums as they have more information than any library could ever provide at any given time. I hope things improve on the job front for hubby

Moneysaving tips for housekeeping are plentiful on the 'Old Style' threads and there are plenty of budget challenges around

setmefree2

GOOD LUCK in 2009:D

Frugaldom

Savings on semi-hold until after DD's wedding, methinks, but at least I'm in a new house that feels a bit like home, even although it's rented.

Frugaldom

Quick update, in case anyone is still interested - the one bedroom terraced 'fixy-up' that was advertised at o/o £36k is online showing a selling price of £35,000 and the little property/plot with a roof that sat across the river with no bridge (we offered 36k) is now showing as having sold at £38,500. I'll never fathom out the way the property market works because the cottage was suitable for moving into despite needing fully renovated whereas the riverside property still had to have services led in and be converted into a house. Still, I'm in a nice house in a nice location right now and don't plan on moving for a long time - landlord's permission permitting.

Savings are only really increasing by the amount of interest being paid, so progress is very slow.

pavlovs_dog

i'm still interested

we hit 20k this month :j being paid a pitance in interest on it though

a lot of the properties that i really liked from before christmas are still on rightmove, unsold, with no movement in price. new properties coming to the market are increasingly more reasonably priced. still hoping for further falls.

Bone_Idle

pavlovs_dog wrote: »

i'm still interested

we hit 20k this month :j being paid a pitance in interest on it though

a lot of the properties that i really liked from before christmas are still on rightmove, unsold, with no movement in price. new properties coming to the market are increasingly more reasonably priced. still hoping for further falls.

I'm still interested too! And I'm seeing exactly the same thing on rightmove as you, Pavlov's Dog - every new house that's advertised seems to undercut most of the competition by £1,500 or more.