No option to buy? Single people

littlemissbliss

RoisinDove said:

I am a single woman too. Earning a bit more than you, which means I should just about be able to afford a one-bed flat, but it's really hard. I am shocked to hear there is any 'priority' system for shared ownership - that seems like downright discrimination! Why should a couple be more deserving of it than you?

Yeah there is - normally goes to families, homeless, those on the council list. Basically those who can't afford it. At least that's what i was told. I seem to fail every time because i have a roof over my head and earning.  But I have rented for 18 years. 

littlemissbliss

FTB_Help said:

Remember to factor in a 10% deposit, so your budget is looking to be around 166,500/.9= 185k.

If you can gather a bigger deposit say 25k-35k your budget will be closer to 195k, which opens up a little bit more options for you

Yeah thats seems to be my only option - but its going to take a while. I have about 9k so far as my ex who left me took everything and i didn't want to fight in court. So I had to start over again. Thankfully my rent is only 750 a month and i have no loans. So i can slap a load of money aside. So I am estimating ill have about 25k summer time next year. But then the property prices will have probably gone up. 

ts21

I just wanted to say I really sympathise! I live in London, looking to move to Surrey, and earn quite a bit more than you - but I'm 38 and I've spent many years in your position seeing that there was nothing I could afford. I worked my way up to get onto a higher salary which has helped. But just wanted to say I get it - to those saying that you should consider moving to a different area, I think that's really difficult to do alone - particularly when you're single and buying alone you don't necessarily want to move far away from friends and family, and there's work to consider too. I also find it frustrating that couples are being prioritised over you - it makes me angry that there are structural disadvantages to being single, even though you are not in any way a less worthy human!

Having had a quick search though for properties under £190k I think you will find something. eg:

https://www.rightmove.co.uk/properties/84619549#/

https://www.rightmove.co.uk/properties/104538221#/

https://www.rightmove.co.uk/properties/82808170#/

littlemissbliss

Irishpearce26 said:

Sorry to hear you're struggling but positive you can save the amount you can which is great.

In the new world can you work from home permanently? Perhaps look at areas outside of Surrey that may open up more options. Set a limit on commuting which could be offset with some flexible working from home unless your job needs you to be in a certain place.

You know what businesses are like
Businesses should do this then everyone wouldn't have to live in the surrey area. My job has said we can be flexible and work part from home and part in the office. But I need more reassurance first. Also what if i lost my job - i would need to be able to get another in London (salary). Being a Graphic Designer everything is in London. I am from up north originally. I could buy a house from where i was born - but there are no jobs. 

littlemissbliss

Deleted_User said:

Hello,

I think it depends very much on where in the UK you live. I am in a similar situation (female, single, on a salary roughly in the same region as you) and live in Scotland. Although obviously it is more challenging to buy as a single person vs a couple with a joint salary, I do feel there are far more options up North. Having lived in Reading for 2+ years, I'm in a good position to compare the two regions in terms of rent, property prices. When I did a search for property within my budget down South, it was exclusively park homes! 

Of course, that's not much help to you, but I wanted to assure you, you're not alone. I also think this is a difficult time to buy - a seller's market, in which people are throwing money at property well above the valuations. This is just my experience, but I've more or less resigned myself to renting for the time being and buying when I've saved a bit more. What is your housing situation at the moment? 

Thank you - it helps to know that I am not the only one. It sucks!

[Deleted User]

In an ideal world you should be able to afford a 1 bed. In reality if you do find yourself in a relationship in future with someone in a similar wage, it would be transformative.

Angela_D_3

littlemissbliss said:

AnnieB2018 said:

Surely you will need to buy a 1 bed hovel then, same as thousands of other young  and young-ish single people before you.

I am 40 - so i would rather not buy a hovel haha

You should have bought earlier then thats the bottom line

wannabe_a_saver

There are definitely graphic design jobs outside London.  Maybe not as many but Manchester, Liverpool, Newcastle, Edinburgh, Glasgow are all cities with creative industries but much much more affordable housing. 

Is anything apart from work tying you to London?  Family?  Friends?

FTB_Help

littlemissbliss said:

FTB_Help said:

Remember to factor in a 10% deposit, so your budget is looking to be around 166,500/.9= 185k.

If you can gather a bigger deposit say 25k-35k your budget will be closer to 195k, which opens up a little bit more options for you

Yeah thats seems to be my only option - but its going to take a while. I have about 9k so far as my ex who left me took everything and i didn't want to fight in court. So I had to start over again. Thankfully my rent is only 750 a month and i have no loans. So i can slap a load of money aside. So I am estimating ill have about 25k summer time next year. But then the property prices will have probably gone up. 

That's definitely a great jump in deposit by next summer.

No point in spectulating what may or may not happen with house prices, we're in a different world now.

I know its easier said than done, but could you find somewhere cheaper to rent now say a house share with other females, it will be a good way to make new friends as well as being able to put away a little bit more in time for next year.

brownbagsFTB

I’m in the same boat but not in London so it’s not as bad for me, I’ve been in flats for the best part of two decades so want a house with a garden for the dog. Problem is in my area of Liverpool, so does everyone else. Been saving for ages and have a healthy deposit, mortgage in principle but house prices have risen by £80-100K in two years in some cases and competition is crazy, have to bid £15K-£20K over asking price to get a look in. When I do eventually manage to buy as a single person, I’ll see it as a blessing: it will be all mine!