Houses are affordable for first time buyers

capital0ne

Every now and then I get fed up with millenials moaning on about nevr buying a house, so a quick check shows I can afford a mortgage of £125,000 when I earn £25k - what people get to after a couple of years at the place I work - and these are youngsters with a few GCSEs

So that's the mortgage sorted.

Right move shows there are 40 properties in the £100k to £125k range within 15 miles of the workplace. That's the property sorted.

So where's the problem, this is exactly how I and my fellow youngsters back in the day when all I could afford was a two bed terrace, 25 miles from my workplace. Don't forget the 8-15% interest rate as well back then.

Youngsters, they don't know they're born! You've never had it so good.

Getting_greyer

Cool story bro, you got anymore?

[Deleted User]

Within 15 miles of my work (in a city with multiple little villages surrounding) there is 1 property on Rightmove for under £125k.....what now?

M_Python

Deleted_User wrote: »

Within 15 miles of my work (in a city with multiple little villages surrounding) there is 1 property on Rightmove for under £125k.....what now?

Look further away?

RelievedSheff

The problem is that people now do not want to do what people have done in the past and get that first foot on the ladder in a less than perfect property in the less than perfect area and work their way up the ladder.

What they want is the perfect property in the perfect area and if they cant get it they will stamp their feet, kick up a fuss, go crying to the media and have a paddy fit at mummy and daddies house.

BAFE

Within 15 miles of my work (in a city with multiple little villages surrounding) there is 1 property on Rightmove for under £125k.....what now?

Buy it?

Getting_greyer

Why is the answer always move away from where your friends and family live. Also just increase your unpaid commute time. Yes the maths dont lie, but it's sad nonetheless.

There will be countless people that had to do the hard yards so that they can enjoy the 4 bed detached in the suburbs now but it's not all about millennials buying avocado toast and crying because a 2 bed terrace doesn't have an ensuite and billiards room.

Edit: dont think the issue is mortgage affordability more about a sizable deposit. I'm going to put my umbrella up to protect myself from the inevitable downpour about saving instead of buying iPhones.

Davesnave

I think this thread might be in the wrong section, as it appears to represent a point of view, even if it is being presented as fact.


The Debate thread for property is in MSE Towers' basement, along the corridor marked 'Futile Arguments,' and if I remember correctly, it's the door on the left after the water pipes. You might have to knock loudly, because many people in there can't hear much, unless it's the sound of their own voice.


Or simply look at this another way; one or two people's personal experiences and locations don't necessarily represent those of the whole nation.

Planet_Switzerland

Are you talking about youngsters where you work or youngsters in general?


Ok if someone has worked for your company for 2 years and they have a big enough deposit then they can afford 1 of 40 properties in a 15 mile radius.


The problem is that there are many areas of the country where you can't buy a property for under £125k and many jobs that won't pay you £25k or more no matter how long you've been doing it.

Splatfoot

There are one or two within 10 miles of where I am. This is one
http://www.rightmove.co.uk/s6p/76694992 looks, um, cosy? That toilet makes me feel quite sick._pale_

JGB1955

Back on the 1970s, very few people could afford to buya house on their own. Our first house cost 11, 850. Our mortgage was 2.5 times my husband's salary + 1 times mine. Things are a bit easier now!