Is the property ladder now a myth?

anotheruser

rexmedorum said:

anotheruser said:

redundantmortgage said:

However the cost of the train fare, parking at the station and petrol to drive to the station would collectively cost me £13.5k a year. If that was to go up 3.8% each year like the train fare is going to do this year then that will cost around £550k over the next 25 years. My wife would have to do the same but we'd have to commute separately because we don't work the same hours. That's £1.1 million over the next 25 years.

Could you supply the details of how you have come to the £13.5k a year?
I can't think of any station + train ticket that would cost that much, even into London (you're not choosing a main station are you?).
I commute 60 miles a day and although fuel is priced higher than what it was 5 years ago, I still make more money than in my old job barely 10 miles a day.

It's not that inconceivable. I don't work in London but if I did a season ticket would be £9k+ from here + £9/day parking at the station + london travel card would get me close to that figure as well.

Train season tickets often come with the travel card included.
Most stations have seasonal car parking tickets that can cost a lot less than the daily rate.
I appreciate the huge up front costs.
It's not about disproving, it's more the case of factual information instead of the first bits of investigation someone has done in 60 seconds of searching.

hazyjo

You could get a nice house where I am in Leigh-on-Sea and not be far from London and would certainly be able to walk to the train station. Usually under 50 minutes by train into the City and £3700 a year. 

redundantmortgage

anotheruser said:

redundantmortgage said:

However the cost of the train fare, parking at the station and petrol to drive to the station would collectively cost me £13.5k a year. If that was to go up 3.8% each year like the train fare is going to do this year then that will cost around £550k over the next 25 years. My wife would have to do the same but we'd have to commute separately because we don't work the same hours. That's £1.1 million over the next 25 years.

Could you supply the details of how you have come to the £13.5k a year?
I can't think of any station + train ticket that would cost that much, even into London (you're not choosing a main station are you?).
I commute 60 miles a day and although fuel is priced higher than what it was 5 years ago, I still make more money than in my old job barely 10 miles a day.

It's including tube travel. I've forgot the exact number now but train and tube is between £9k -10k, season ticket car park around £1.5k and the rest is petrol. 

Sapindus

getmore4less said:

m0t said:

My wife won't move too far away from where we are now because she wants to be close to her parents.

I've been working on that for years but no luck so far.

I don't feel I really benefit from being in London. It's cramped, expensive, full of traffic and crime and I rarely visit the city itself.

If it wasn't for family I'd be happy in a moderately sized town anywhere.

Give the wife back to her parents and move.

Take the parents with you!