Am I ever going to be able to buy a house

Mickey666

indigoblue11 said:

ACG said:

joshiesaunt said:

You can get mortgages up to 75 years of age and beyond now if you have retirement income.  Can you increase your income?

I just cant imagine the OP reading your question and thinking "oh yea!". If the OP comes back now and says this has helped them to get a mortgage I will eat my shoe hahaha - love it.    

(sorry, my "joke" was about the increasing income comment, not the lending to 75).

I don't get the joke. But increasing my income!!?? oh yeah i'll just go out and get a 100k job tomorrow. dohhh

Plenty of people buy houses without having £100k jobs.

What's your current job and income?

hippocrates1

Maybe an unpopular opinion but your mortgage should not be 2/3rds of the income. Other option is waiting till you can buy with a partner. 

JGB1955

hippocrates1 said:

Maybe an unpopular opinion but your mortgage should not be 2/3rds of the income. Other option is waiting till you can buy with a partner. 

That's how it was in the late 1970's.  You couldn't even expect to buy a house without a partner.  Especially as interest rates were 15%+

Carmassi

I think shared ownership will work for you, but still you should wait for better market conditions

Windofchange

If you are talking London or the SE, then I'm afraid the key to owning a house is likely to be getting a partner to do it with. Much easier to earn the 100k needed if you do it with one other person than trying to do it alone. Other thought is are you being too fussy - i.e. going straight to rung 2 or 3 of the property ladder wanting a family house with a garden without building a bit of equity in rung 1? There is a reason that prices of houses with gardens are geared toward couples rather than singletons...

indigoblue11

Some of these comments whilst I appreciate them are aimed at the stereotypes of family and partners. 

I want no family and I also don’t want a partner. 

I’m not being fussy about where I want to live, I’m considering a round circle where I live now, out of the city and something with a 30 min commute to work, not fussed about in what direction either. I suppose the only thing I am being fussy about is making sure the area is nice and doesn’t many have anti social issues. 

indigoblue11

Windofchange said:

If you are talking London or the SE, then I'm afraid the key to owning a house is likely to be getting a partner to do it with. Much easier to earn the 100k needed if you do it with one other person than trying to do it alone. Other thought is are you being too fussy - i.e. going straight to rung 2 or 3 of the property ladder wanting a family house with a garden without building a bit of equity in rung 1? There is a reason that prices of houses with gardens are geared toward couples rather than singletons...

Slightly discriminatory, get what you’re saying but you’re assuming the perfect partner and family scenario. But difficult when you’re not actually attracted to men or women. There’s a thought for you 😉

thanks though, I appreciate everyone’s comments, and I’m taking a lot away from your input.  

MalMonroe

indigoblue11 said:

MovingForwards said:

Same way most people do, look further out, at a whole range of properties and keep saving.

I was adamant I wanted a bungalow or end terrace house. I actually celebrated my 45th in a lovely flat, with a private garden and views which are breathtaking.

I live in a flat now and its been a nightmare, the man who lives opposite me smokes cannabis and its stinking my flat out. I want a house but im not fussy on it being mid/end terrace. I just want a house with a garden.

Just to say, not all flats are the same. I'm actually in a council flat, ground floor in a block of only two. There are only fourteen flats altogether on our little cul de sac and every neighbour is really great. I know them all and know I could call on any one of them in an emergency, as they can on me. In fact, a couple of them have called on me in the past. To the back of our flat is open woodland which can never be built on and it's really a fabulous place to live. Rural, great neighbours and lovely views. All our flats have a private front door and back door and garden.

My last property was a three bedroomed end of terrace house where the neighbours were the roughest I've ever encountered. The next door neighbour had a voice like a foghorn and language like a navvy. We heard her shouting her head off (mostly obscenities) morning, noon and night and their dog barked and yelped every time she was left alone, which was often. It was pure hell. That was a house. We were depressed beyond belief.  Flat or house, neighbours can be awful.

Because our flat is council owned, we have the option to buy.  And our discount builds each year to a maximum of 80%. (Eighty percent discount of market price if we want to buy!) (We do). And have almost enough saved to put down the deposit so our mortgage won't be very big and also if we want to move on after a few years we can sell this lovely flat at a great profit. (That last bit sounds a bit greedy now I see it in black and white!) Normally ground floor council flats are mostly meant for disabled people but the reason we got this flat was that no-one with mobility problems wanted to live here because it's so rural and inaccessible. We've been told we'll be able to buy if we want to.

Nothing's impossible, is what I like to think. And a positive attitude does really help. I can do this! I know it's one of those annoying sayings but I do believe in it.

indigoblue11

MalMonroe said:

indigoblue11 said:

MovingForwards said:

Same way most people do, look further out, at a whole range of properties and keep saving.

I was adamant I wanted a bungalow or end terrace house. I actually celebrated my 45th in a lovely flat, with a private garden and views which are breathtaking.

I live in a flat now and its been a nightmare, the man who lives opposite me smokes cannabis and its stinking my flat out. I want a house but im not fussy on it being mid/end terrace. I just want a house with a garden.

Just to say, not all flats are the same. I'm actually in a council flat, ground floor in a block of only two. There are only fourteen flats altogether on our little cul de sac and every neighbour is really great. I know them all and know I could call on any one of them in an emergency, as they can on me. In fact, a couple of them have called on me in the past. To the back of our flat is open woodland which can never be built on and it's really a fabulous place to live. Rural, great neighbours and lovely views. All our flats have a private front door and back door and garden.

My last property was a three bedroomed end of terrace house where the neighbours were the roughest I've ever encountered. The next door neighbour had a voice like a foghorn and language like a navvy. We heard her shouting her head off (mostly obscenities) morning, noon and night and their dog barked and yelped every time she was left alone, which was often. It was pure hell. That was a house. We were depressed beyond belief.  Flat or house, neighbours can be awful.

Because our flat is council owned, we have the option to buy.  And our discount builds each year to a maximum of 80%. (Eighty percent discount of market price if we want to buy!) (We do). And have almost enough saved to put down the deposit so our mortgage won't be very big and also if we want to move on after a few years we can sell this lovely flat at a great profit. (That last bit sounds a bit greedy now I see it in black and white!) Normally ground floor council flats are mostly meant for disabled people but the reason we got this flat was that no-one with mobility problems wanted to live here because it's so rural and inaccessible. We've been told we'll be able to buy if we want to.

Nothing's impossible, is what I like to think. And a positive attitude does really help. I can do this! I know it's one of those annoying sayings but I do believe in it.

That’s pretty cool that you have been lucky with the neighbours where you are now. And also that you can buy your place at tidy discount. Good luck to you! 

You are right about the positivity, a year ago I wasn’t even thinking about buying. But I’ve set myself a goal now. 

Rudi1990

From your comments, it doesn’t seem you are fully committed to buying just yet? I just bought my first property at age 49, single mum, daughter is now 23, I started saving 4 years ago when my daughter left 6th form and got a full time job.
As I’m buying alone, affordability was tight so I had the choice of buying a property that needs improvement but staying in my current area, or moving a bit further out and getting an up to date house. I chose the former - I’ve now got my forever home and will do it up bit by bit.
its all about affordability and compromise - good luck!