First time thinking of buying. Overwhelming. :|

ncmscnc

macman said:

There are studio flats on Rightmove in S. London for around the £140K mark, but not many.

You are raising my hope macman. I see only garages. 
Do you mean way south, beyond Croydon or near Gatwick? 

numbercruncher8

ncmscnc said:

Reading through the responses, my anxiety just went through the roof. (which is someone else's as I am lodging with a live-in landlord) 

This is depressing and I only on my own with no else depending on me. I might start looking for job prospects in the north, possibly even can own a personal transport like a car or a bike If I moved away from here. 

There is more to life than house prices, don't let it get you down.

I've known a couple of people in similar position to yours. One worked for the council, similar wage.
Rent was £400 a month, bills inclusive. Took the bus to work so very small commuting costs. So after the end of the month, she still had plenty of money left over to enjoy herself. After a while she found a partner, and whilst he was earning similar their combined savings meant they bought a house further out (but still in London zone).

Things can change relatively quickly.

hazyjo

Where do you need to get to for work? Is there any side of London you need to live because of family, friends, etc?

ncmscnc

numbercruncher8 said:

Things can change relatively quickly.

Thanks, I think that's part contributing to the nervousness. The house share I am on is very cheap £270 per month with shared expenses. 
I was just about to start living my life in March and everything got shutdown and had no haircut in six months. lol.

Hopefully, I can finish my professional exams in December - still got three papers left which might improve some prospects in the job front. 

NameUnavailable

AdrianC said:

macman said:

There are studio flats on Rightmove in S. London for around the £140K mark, but not many.

Many studio flats aren't mortgageable.

Many flats aren't mortgageable!

ncmscnc

hazyjo said:

Where do you need to get to for work? Is there any side of London you need to live because of family, friends, etc?

I work in W1 area, Charing Cross is very convenient from South. Apart from that, I don't know anyone else in the whole country! No restrictions I mean. I will have to make new friends and say hello to all.

NameUnavailable

Here you go https://www.rightmove.co.uk/property-for-sale/property-80133028.html small place but nice area.

Or look further out to the Medway towns where prices are a bit lower, but there is good rail services into London. https://www.rightmove.co.uk/property-for-sale/property-78438256.html

But from what you say surely you're better off staying put for now, finish your qualifications and see how your current job goes - presumably when you're fully qualified (we don't know what you do) your current employer will be offering you a better position and salary, or you can look for a better paid job elsewhere?

Why look to tie yourself down and burden yourself with bills at this time?

pinkteapot

If you’re finishing professional exams soon you’ll presumably be able to then move to a better paid job. With that on the horizon I wouldn’t even think of buying right now. Stay put, keep saving and growing your deposit, and see where your salary ends up next year. 

NinjaTune

With your income and minimal outgoings I'd be knuckling down and saving like crazy for as long as possible.

As others have said, your professional exams (once passed) surely must enable you to get either a pay rise or a better paid job?

If there's nothing tying you to London and your job is easily transferable then I'd definitely be looking at moving somewhere more affordable in terms of housing.

ncmscnc

• Finish the exams and wait for better job prospects certainly makes sense. It's the failing feeling when looking around my counterparts whom are already on mortgages and families. This thread has quickly turned into my sob story. lol.

 

•  Maybe I just need a change of location. Could probably do with a move with similar rents elsewhere for a change. I might even apply for a driving licence and get some independence to explore areas.

•  Given the mixed signals about working from home and how unsustainable the business I work for is, It's just all around anxiety and then some. Hoping December goes well!