1st positive thread on here on how you CAN get your 1st home

Dick_Rambo

homeless9 said:

I am in no better position now to buy a property as I was 10 years ago. I am £100,000 richer, but the same house I was hoping to buy 10 years ago is also £100,000 more expensive.
What now?
I give up on housing as it is now too ridiculously priced and instead reward myself with a 6 year long round the world trip?

Of course you're in a better position.
You have a 100k deposit now.
But do take the world trip, home ownership probably isn't for you.

Sailtheworld

homeless9 said:

I have been saving for 10 years now. Saving £10,000 a year...... but the average 1st time buyer home of a 1 or 2 bed have risen £10,000 a year. So all this hard work and saving has been in vain. I am in no better position now to buy a property as I was 10 years ago. I am £100,000 richer, but the same house I was hoping to buy 10 years ago is also £100,000 more expensive.

You had a deposit years ago so owning a house can't be that much of a priority.
It's really quite expensive to sit and wait for a crash before buying. 

triathlon

homeless9 said:

The initial post makes me laugh.....cut out this and that, spend less, work harder.....

I have been saving for 10 years now. Saving £10,000 a year...... but the average 1st time buyer home of a 1 or 2 bed have risen £10,000 a year. So all this hard work and saving has been in vain. I am in no better position now to buy a property as I was 10 years ago. I am £100,000 richer, but the same house I was hoping to buy 10 years ago is also £100,000 more expensive.

What now?

I give up on housing as it is now too ridiculously priced and instead reward myself with a 6 year long round the world trip?

One of two things, you have the worst perspective in life I have ever seen or you are just making this all up. For starters if you really do have £100,000 cash deposit then I would say you are probably in the top 5% if not better for people starting out. Where are you looking for properties?, give us all a rough idea and I bet we have some decent solutions for you by end of this day.
As for wasting all that money on a world cruise, of course that trip will end and you will be back on here with the same complaining but ten times worse without looking at yourself in the mirror.

I fail to see any problem you claim to have apart from a bad dose of self entitlement

eidand

homeless9 said:

The initial post makes me laugh.....cut out this and that, spend less, work harder.....

I have been saving for 10 years now. Saving £10,000 a year...... but the average 1st time buyer home of a 1 or 2 bed have risen £10,000 a year. So all this hard work and saving has been in vain. I am in no better position now to buy a property as I was 10 years ago. I am £100,000 richer, but the same house I was hoping to buy 10 years ago is also £100,000 more expensive.

What now?

I give up on housing as it is now too ridiculously priced and instead reward myself with a 6 year long round the world trip?

I cannot believe you're still complaining, if you really have 100k cash .... You can buy something decent any time .... so why are you complaining?

lisyloo

homeless9 said:

The initial post makes me laugh.....cut out this and that, spend less, work harder.....

I have been saving for 10 years now. Saving £10,000 a year...... but the average 1st time buyer home of a 1 or 2 bed have risen £10,000 a year. So all this hard work and saving has been in vain. I am in no better position now to buy a property as I was 10 years ago. I am £100,000 richer, but the same house I was hoping to buy 10 years ago is also £100,000 more expensive.

What now?

I give up on housing as it is now too ridiculously priced and instead reward myself with a 6 year long round the world trip?

Did you never review your strategy. If you’d bought then your home would have gone up£10k and your mortgage gone down nominally.
this shows waiting was a bad decision.
did you never review your decision?
its a bit like waiting for 10 full buses, after 3 most of us would be looking for an alternative strategy

Planet_Switzerland

I don't think homeless9 was being serious about taking a round the world cruise. I understand where they're coming from though as in some ways I can relate.

I bought my flat in 2016 and it had previously sold in 2010. The difference between the 2010 price and the price I paid was basically my deposit. Yes that's the way the market works and there's nothing I can do about it, but that doesn't stop it from being irritating.

What I will say though is it wasn't a simple case of properties going up by the amount I saved each year. I started seriously saving for a deposit in 2011 when prices were more or less the same as 2010 in my area. In 2012 they were pretty much the same, but in 2013 they rocketed up and continued till 2015 when I started looking for properties. A lack of starter homes coming on the market in my area meant it took me nearly a year to find somewhere, but the price I paid was around the same price I was expecting to pay in 2015.

renegadefm

triathlon said:

This message board has been here a while now and many of the messages on here are so negative, which I find troubling in a country with so many opportunties. In all this time and all the messages and opinions there has not been one thread on how you CAN get on the property ladder.
I know there is a cynical bunch out there who just want to keep believing that life is unfair for them and that it is impossible to buy their own home, just stay away from this thread please. I am in a rush now, but here is a start for those young people, and I speak with a lot of experience.

1. Cut out the holidays and short breaks for a few years.
2. Do all your own cooking(and eat like a king for a 10th of the price sometimes)
3. Make that mod con last several years +, and that's from being 2nd hand
4. Look into what assistance is there to help you from the government(never been better than now)
5. Get that second job while you are young and have the energy, rest later in life.
6. Don't focus on other people luck, yes life isn't fair sometimes.
7. Get lodger for a while, 1st home or help with renting
8. Yes you need to have some fun in life, but be creative with it( I just a seal dive for £20) in Northumberland, and took my own food, flask malt etc.
9. Throw everything into you home first few years.

This is just a start, so much you can do to make it happen and you will be glad you did, don't pray for a day when it is going to get easier, make a start today..

Sounds lovely on paper,  it really bothers me that people think we are being negative for the sake of it,  these are real issues that won't go away anytine soon. Too many people are out of touch with certain deprived areas such as Cornwall where cost of living is high, house prices to match, yet average wage here wont get you on the cheapest of property ladder. Your lucky now if you can get a one bed flat. 
My son for a while was renting a static caravan for £560 per calander month which took most of his wages once he added normal bills. Baring in mind this is just a caravan.
Before we judge we need to be in touch with other peoples way of live. Thats all I'm saying. 

coffee_prince

Hi all
"Theoretical scenario"

The very best I can afford is a 1 bed flat, this costs around £135k-£140k for the very cheapest in Bristol (go ahead and have a look), I figure I could put down a deposit of £40-£45k. This means a mortgage might be £350-£400 a month. With all bills I figure it would be £700-£800 a month. 2 bed is an ideal situation that start at £160k (let out the spare room making it cheaper than a 1 bed) but it is out of my reach in terms of my low salary.

My take home pay is £1400 a month. I currently house-share and pay only £400.

It's taken me 7 years to save up my deposit. I haven't been on holiday for 5 years, my phone is 3 years old and it was bought second hand. I do not drive.

Of course if I moved to another city I could definitely get a better place, any real savings would mean having to travel up north though. I feel like with a dead end job like mine it would take at least 2 years to get established and feel secure in a new job if i were to relocate.

As this is a constructive post, I would definitely welcome any positive feedback, though I feel I may get some condescending ones judging the previous posts.

Chilli6

It does depend on someone's motivation and when I was young I would have rather been out drinking than thinking of a house of my own. I have complete respect for people who buy young. 
I was 27 when I bought my first house on my own and only due to family help. I am so aware how amazingly fortunate that makes me. I could have saved to do it but not by 27. I regret not saving earlier. 
I know someone who isn't paying their mortgage payments as they claim they can't afford to, however they are out drinking nearly every weekend. I just don't get that mentality. Now I have commitments I no longer go out drinking and I don't buy anything unless I have the money.
Would love to hear lots of motivational stories from people commited to getting their own place. Good luck to anyone in that process! 

triathlon

coffee_prince said:

Hi all
"Theoretical scenario"

The very best I can afford is a 1 bed flat, this costs around £135k-£140k for the very cheapest in Bristol (go ahead and have a look), I figure I could put down a deposit of £40-£45k. This means a mortgage might be £350-£400 a month. With all bills I figure it would be £700-£800 a month. 2 bed is an ideal situation that start at £160k (let out the spare room making it cheaper than a 1 bed) but it is out of my reach in terms of my low salary.

My take home pay is £1400 a month. I currently house-share and pay only £400.

It's taken me 7 years to save up my deposit. I haven't been on holiday for 5 years, my phone is 3 years old and it was bought second hand. I do not drive.

Of course if I moved to another city I could definitely get a better place, any real savings would mean having to travel up north though. I feel like with a dead end job like mine it would take at least 2 years to get established and feel secure in a new job if i were to relocate.

As this is a constructive post, I would definitely welcome any positive feedback, though I feel I may get some condescending ones judging the previous posts.

I stand by what I said, it applies to 99% of the time where you cannot keep on trying to second guess what might or might not be around the corner in life. But when  I posted this coronavirus was never heard of and could fall into that 1%. I would just sit tight for now and wait 6 months, but if this turns out to be no big  deal by summer everything I said stands and more, pent up demand will drive prices sky high, your call.