Struggling to find a mortgage as a single person

MFWannabe

MikeL93 said:

MaxiRobriguez said:

MikeL93 said:

Sncjw said:

Is there any houses for 130k in your area. You dont need to be fancy straight away. It will take time to get the house the way you want it anyways. 

Also my partner and I would have had budget of i think it was 140k but we went and bought a house for 83k. It means the mortgage payments are less and we could also reduce the term by 5 years as we are paying slightly more a month. It gives us the flexibility to thinknof the future and also to decorate the house. We bought it in April and only got three rooms done but alot due to covid.

Think of the future would you want to save money for other things.. Might be harder if your paying higher mortgage. 

I've looked but unfortunately there isn't, terraced houses start at around £145K and then semis start at around £160K. I have a number of friends who have bought terraced houses for their first home and they have all told me to avoid them.

I lived in a terrace for 8 years in my first home. It wasn't luxury but it was fine, no regrets over picking it instead of the flats I also looked at. I now live in a semi which we've had to spent a fair chunk getting it to be nice, but whilst it is better, and bigger, the adjoining walls are thinner and we can hear our neighbours and their four kids throughout the day, so there are downsides too.

I realise there are downsides to every property but I just don't see myself living in a flat or a terraced house. That's why I've decided that I'm just going to save really hard over the next few months and then in the spring see what my finances are like and then speak to a broker to see what mortgage I can get.

Very wise decision 👍