Best way to save for a house?

yksi

I took about a year to get my ducks in a row, I had wanted a bigger place but realised it was out of budget (different amounts, but same situation as you). In the end I went for a smaller property so that I could move in sooner. I'll move into a bigger place once I build up my equity. I think you should consider this option, because it would be £500 going into your "dream home" fund for the next four years, instead of being dead money. You could afford a place within London right now as long as you are not choosy or aiming for your forever home. You're single, what's wrong with a studio or a 1br basement flat that needs a lick of paint?

[Deleted User]

yksi said:

I took about a year to get my ducks in a row, I had wanted a bigger place but realised it was out of budget (different amounts, but same situation as you). In the end I went for a smaller property so that I could move in sooner. I'll move into a bigger place once I build up my equity. I think you should consider this option, because it would be £500 going into your "dream home" fund for the next four years, instead of being dead money. You could afford a place within London right now as long as you are not choosy or aiming for your forever home. You're single, what's wrong with a studio or a 1br basement flat that needs a lick of paint?

Were you in a rush to get out of where you are living?

BuildTheWall

[Deleted User] said:

I want to buy a place to be my home for the next 20 or so years. Not jump about.

That attitude isn’t going to help. 

Very rarely people buy 4 bedroom houses as their first home. It doesn’t make sense practically and financially. Especially in your case, accumulating equity on a smaller property and upgrading later could be the only way. 

You have 3 more years to buy - hopefully you become more flexible by then.

[Deleted User]

BuildTheWall said:

Deleted_User said:

I want to buy a place to be my home for the next 20 or so years. Not jump about.

That attitude isn’t going to help. 

Very rarely people buy 4 bedroom houses as their first home. It doesn’t make sense practically and financially. Especially in your case, accumulating equity on a smaller property and upgrading later could be the only way. 

You have 3 more years to buy - hopefully you become more flexible by then.

I don't see what difference it makes,

eskbanker

[Deleted User] said:
I want a stable place

Well, it'll be cheaper than a flat, if you don't mind sharing with the horses