Future Proofing my life: Deposit saving then MFW journey in under 13 years

themadvix

Remember, with your goal of 'buying by Xmas', that even if you have an offer in and accepted by that point, you won't have bought it. At the quickest, you could expect a 2-month conveyancing process I would think (that was fast for us with our FTB of an empty house). So you'll have more time to save (albeit, moving costs come into play at this point - but assuming you have them allocated already?) whilst in the process. And then you'll also be able to use the 'eek, I'm buying a house, sorry, can't afford that at the moment' excuse regarding some of the socialising (although I appreciate as a singleton, you need that social life).

I've assumed that's what you mean by 'buying by Xmas' anyway, as I think pigs are more likely to fly than you actually have completed within that time frame at this point

LadyWithAPlan

@ruby_eskimo tx for the eskimo, I will thus try to keep the faith in EA!! Glad you found your perfect home.
Yes me and the frog, I have a few frogs but it is always easier dealing with some other things.

Cooking is a great personal procrastinator - I have a delicious smelling chicken thigh, vegetable, mung bean (pre soaked and flavoured) and rice concotion in the slow cooker at present with home made stock.  
I keep reading how mung dal is so good for you so I have been making versions of it. I have now a large sack of them so ..

Annoyingly I over boiled the soup I was making yesterday, I forgot about it.. I need to see if it is salvagable.

I can proudly say I was up at 6.55am and did 2+ hrs on my programme this morning. That is the plan til its done M-F up early to get 2 hrs in. 

@SandyShores @Sistergold I also love that sunny sweet spot, wherever I live I always put a table in that spot so I can work and eat in the light and warmth. I have couch there too but rarely sit on it ..
My current rented home is flooded with daylight - hence me worrying about the fixer upper I am leaving be as its Lower Grnd flr.

On the would be scammer -  Luckily mum had an inkling the woman was weird so mum had emptied the bank acct first and had no OD facility in that one. She had asked me to check but the gumtree/parcelto go is fine , just not what this woman then tried to do!. She has reported it to the bank, cancelled card and did take details of the link/bank acct etc of the scammer so trying to also let the police know. So just time wasted but not money...

My first ever month with pension bonds (£13k+) and made £0 and no phone call from Agent Million.

'Found' some extra money in a bookie I thought was empty (MB) and was paid an invoice so update

OCT savings    -  

04/10 £72,132.05

04/10 £1951.54   of goal   £2,252,81 per month

Get to fill in one more box on my visual flat! and over £72k )

Invoice got paid and some TT

Free money  £34.98/ £180

ebay £19.15 profit

Ubereats voucher £10

H2B Int £5.83

LadyWithAPlan

themadvix said:

Remember, with your goal of 'buying by Xmas', that even if you have an offer in and accepted by that point, you won't have bought it. At the quickest, you could expect a 2-month conveyancing process I would think (that was fast for us with our FTB of an empty house). So you'll have more time to save (albeit, moving costs come into play at this point - but assuming you have them allocated already?) whilst in the process. And then you'll also be able to use the 'eek, I'm buying a house, sorry, can't afford that at the moment' excuse regarding some of the socialising (although I appreciate as a singleton, you need that social life).

I've assumed that's what you mean by 'buying by Xmas' anyway, as I think pigs are more likely to fly than you actually have completed within that time frame at this point

Good to know a 2 month time frame minimum, I am a FTB so its all new to me. 
I have so many sinking pots including my 6 months EF of current expenses - but that will only be about 2.5 or 3  months worth once I take on a large mortgage.. I do have a very small home sinking fund but not a moving pot as yet, I will start one  from next month.
The good news is I have all my own white goods and furniture already here in my unfurnished rental  so it will be a large lorry to move but at least he only new expenses will be repair/redecorate/fix up  whatever I buy rather than new sofas etc..

My godfather said houses generally cheaper around Dec and I am finishing my programme before I start looking again. Also my main 3 days a week contract needs a bit less doing - probably 2 to 2,5 days  - it will pick up once the restructure finalised but that is taking even more months...  so I do need to look at this whole in my budget. I will start looking for a new contract or PT contract once programme is finished..


Helped my mum get started on FB and Gumtree - cos of ebay costs but she has  had 3 scammers approach her through Gumtree  this week alone  on just 4 items for sale! - she luckily has avoided being scammed but the parcel2go  link was a scammer link  and another 'buyer' wanted her to pay the insurance  upfront ! (she was selling)
So any Gumtree sellers out there,  insist on cash only on collection. When I sold in the past  on Gumtree there were no issues  I guess scamming is the new crime de jour.

themadvix

Sorry to hear about your mum having issues with Gumtree - can't say I've ever used them, so no advice there!

Re moving costs - apart from the removals co. there's solicitors' fees, mortgage fee (although you can add that the mortgage), a survey, mortgage advisor? It adds up! But if you're planning to get a removals company and you'll pack yourself, make sure you read the small print about their liability insurance they'll ask you to pay - from what we've read, it only covers items they've packed, so you may decide not to pay it!

Grogged

Unfortunately the world is full of scammers 😡

ruby_eskimo

I've really been put off selling stuff due to all the scammers out there - had someone on Vinted complain that something was too big, despite posting pictures of the labels on the listing, refused to send it back and then Vinted gave her a full refund.  She then sold the item for double what she "paid" me 😡

Don't want to scare you but our purchase as FTB's took 6 months to go through so you could be waiting a while...There's also the fun of trying to negotiate with your landlords re: you're contract to make sure you aren't double paying on both properties when you do eventually complete.  I can also tell you it's just as fun when you come to re-mortgage; I thought it would be straightforward but it's basically applying for a brand new mortgage all over again.

LadyWithAPlan

themadvix said:

Sorry to hear about your mum having issues with Gumtree - can't say I've ever used them, so no advice there!

Re moving costs - apart from the removals co. there's solicitors' fees, mortgage fee (although you can add that the mortgage), a survey, mortgage advisor? It adds up! But if you're planning to get a removals company and you'll pack yourself, make sure you read the small print about their liability insurance they'll ask you to pay - from what we've read, it only covers items they've packed, so you may decide not to pay it!

Tx on the advice and the removals people insurance.

I am thinking probably £4 to 4.5k costs + stamp duty (FTB) of £5k (400k place) or £7.5k (450k flat) - anyone know?

No clue what solicitors fees are  - its London so will be a £400k to £450k place - are they fixed fee? I need to find one but will ask friends or on here.  £2k?
Survey fee -  I have no clue again  - assuming £1k as may need an elec or plumbing one as well
Removals - may get family to help so £600
Mortgage fee looks like £999 to £1499 (from quotes so far) I will pay this upfront.
My (recommended via a colleague) broker who is getting me a contract mortgage is free  as his fee is paid via the mortgage company) . I had 2 other quotes but they charged from £250 to £500 

I do have a H2B so currently £1450 extra from govt to come back which can go against my solicitors fees etc. This figure goes up £50 a month til I buy
So figure I need to save on top an extra £10k if flat 450k or £7.5k if £400k flat. Ouch

Mon/Tues NSD so 2/13
Hopefully today  as well.. lets see.. I know Thurs and Frid are a spend day

Fortune_Smiles

Hi there @LadyWithAPlan - Martin has some info which might help https://www.moneysavingexpert.com/mortgages/house-buying-guide/

...and Which has some useful stuff too https://www.which.co.uk/money/mortgages-and-property/first-time-buyers/buying-a-home/the-cost-of-buying-a-house-asdg78z63xuq

Hope this helps.

Fortune x

SandyShores

Ouch to stamp duty.  We weren't first timers and moved just before the SD holiday so ended up paying just over £6k.  Our solicitor was just over £1,400 all in for the purchase, but DD is paying more for her purchase this year and its a smaller property. We had a £250 broker fee, plus a £999 mortgage fee, but then we had £500 cashback after completion.  It felt very strange after all that saving to see it just disappearing, especially when you pay over the deposit.  With moving insurance, from memory if your contents insurer is the same at both properties then your property is covered on the move, but if you change insurers it isn't.  We moved ourselves this time (£95 for a van) as most of our furniture wasn't going to fit into our new property, and as we moved out of a rented house, we had a couple of weeks crossover to take our time moving and do a final clean up.  We had some family help thank goodness, but we said we wouldn't move ourselves again, we found it exhausting.  Hopefully its the last time we'll be moving anyway .  There are some good moving checklists online, one thing I am glad I did do was purchase mail redirection for a year - its amazing how much post comes through for you after you've moved out.

Sistergold

@LadyWithAPlan, I’m my last 3 moves I hired two man with a Luton van and it was about £300 to £500 each time. You need to have packed everything in boxes of cause but the will carry everything for you. They have all been very good and I think cheaper than proper removals. With removals well you can do a packing service I guess and pay accordingly but I think it’s not going to be money saving. Packing for yourself slowly will help to throw away things if need to.