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Getting children on property ladder
Comments
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Doesn't have to be cheap. Depends how many hurdles you put in the way.[Deleted User] said:
If the commute is at all reasonable it won't be cheap.lookstraightahead said:
What you do, is live in a cheaper area, and commute (yes, travel to work) in an area with better salaries.[Deleted User] said:These days most children buy with significant help from their parents, in the order of £25k.
https://inews.co.uk/news/parents-children-mortgage-lenders-buy-houses-property-330778
If you can't provide that, and there is no chance of significant inheritance, then you will need to get creative.
Some areas are cheaper, but only because there are not the good jobs there. You might get lucky and find an up-and-coming area.
Saving is obviously a good idea, but it's unlikely to be enough on its own. It's a very difficult situation, especially if you have three kids.
you do talk about inheritance a lot but waiting for someone to die is a bit depressing, unreliable, and not very independent,
ive got a 22 year old and I'm not sure she would place waiting for an inheritance above a 4 hour location move.0 -
Please save this for people who confuse bring and buy, not people who miss out “up”. Especially those who “brought a house”!Norman_Castle said:Brought them from where?0 -
At this point the best thing to do is vote for parties that will build more houses and do something about insane house prices. It's the kind of problem that can only be fixed at government level.0
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So you plan is to wait for someone to die, or even worse, wait for a government that will change it. Neither of those are good ideas 😜.[Deleted User] said:At this point the best thing to do is vote for parties that will build more houses and do something about insane house prices. It's the kind of problem that can only be fixed at government level.
how about letting the market rectify itself and be a big optimistic? It won't be like this for ever.0 -
Which parties are those then and what are they going to do?[Deleted User] said:At this point the best thing to do is vote for parties that will build more houses and do something about insane house prices. It's the kind of problem that can only be fixed at government level.0 -
If they are young look at JISAJunior ISA,s
If over 18 help by getting them to set up a LISA and put upto £333 a month into savings.
If it builds upto £4,000 in one tax year they get a £1,000 government bonus.0 -
You will have to decide when the election comes around. I'm sure they will all promise to do it, it's a question of if you believe them.SpiderLegs said:
Which parties are those then and what are they going to do?[Deleted User] said:At this point the best thing to do is vote for parties that will build more houses and do something about insane house prices. It's the kind of problem that can only be fixed at government level.
Keep an eye on your local elections too. Local government has some influence over house building.0 -
What other option is there? So far all anyone has offered is a vague "be good with money" which doesn't add up when you do the figures.lookstraightahead said:
So you plan is to wait for someone to die, or even worse, wait for a government that will change it. Neither of those are good ideas 😜.[Deleted User] said:At this point the best thing to do is vote for parties that will build more houses and do something about insane house prices. It's the kind of problem that can only be fixed at government level.
how about letting the market rectify itself and be a big optimistic? It won't be like this for ever.
As I pointed out way back, these days the majority of FTBs have assistance and it's in the order of tens of thousands from their parents or a hefty inheritance.0 -
https://www.google.co.uk/amp/s/www.thisismoney.co.uk/money/diyinvesting/article-10169365/amp/Junior-Isas-turn-10-save-cash-invest.html
https://www.moneysavingexpert.com/savings/lifetime-isas/
Need I say more.
If you want to Help your kids get saving0
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