In my 30s and in London - what do I do?

[Deleted User]

[Deleted User] said:

roaduser3189 said:

What an interesting thread. I think there are some really solid suggestions made by others in terms of finding places to live around London (some even within) that it's worth looking in to. As you mentioned change wont happen overnight in the practical sense. However perhaps a change in attitude is something worth looking at. You cant change things such the cost of houses nowadays or how expensive commuting is, those are not within your control so for your own benefit stop focusing so much energy on the negatives. Think of the things you can change. From what I have gathered you are lonely and alone. I suggest reading something called "The Happiness Trap" , great book and it can change the way you think about your circumstances . I wish you all the best. 

Thanks. I have been trying to focus less on things I can't change (the state of the country and the lack of opportunities). This is why I've been looking into moving abroad. I've also just gotten my Irish citizenship secured, so that's a big step to being able to do other things. Thank you for the book recommendation. 

There is nothing wrong with the country and no lack of opportunity. By choosing London you forego what the country has to offer: up and coming cities, short commutes, reasonably priced houses, standard of living. I have had my time in london and made pragmatic choices thereafter. London is an overcrowded, overpriced rat run. It does not tend to offer space,  value and quality of life. 

[Deleted User]

brett19852010 said:

wildbilljones said:

roaduser3189 said:

What an interesting thread. I think there are some really solid suggestions made by others in terms of finding places to live around London (some even within) that it's worth looking in to. As you mentioned change wont happen overnight in the practical sense. However perhaps a change in attitude is something worth looking at. You cant change things such the cost of houses nowadays or how expensive commuting is, those are not within your control so for your own benefit stop focusing so much energy on the negatives. Think of the things you can change. From what I have gathered you are lonely and alone. I suggest reading something called "The Happiness Trap" , great book and it can change the way you think about your circumstances . I wish you all the best. 

Thanks. I have been trying to focus less on things I can't change (the state of the country and the lack of opportunities). This is why I've been looking into moving abroad. I've also just gotten my Irish citizenship secured, so that's a big step to being able to do other things. Thank you for the book recommendation. 

There is nothing wrong with the country and no lack of opportunity. By choosing London you forego what the country has to offer: up and coming cities, short commutes, reasonably priced houses, standard of living. I have had my time in london and made pragmatic choices thereafter. London is an overcrowded, overpriced rat run. It does not tend to offer space,  value and quality of life. 

"There is nothing wrong with the country and no lack of opportunity."

What a ridiculous thing to say. UK house prices have risen fourfold since 1980 and the retirement age is 4th highest in Europe. Buy-to-let was allowed to run riot. 

If you'd read the thread, you'd see that I left London a year ago. Spare me the University of Life chat. 

[Deleted User]

sturgeon said:

[Deleted User] said:

roaduser3189 said:

What an interesting thread. I think there are some really solid suggestions made by others in terms of finding places to live around London (some even within) that it's worth looking in to. As you mentioned change wont happen overnight in the practical sense. However perhaps a change in attitude is something worth looking at. You cant change things such the cost of houses nowadays or how expensive commuting is, those are not within your control so for your own benefit stop focusing so much energy on the negatives. Think of the things you can change. From what I have gathered you are lonely and alone. I suggest reading something called "The Happiness Trap" , great book and it can change the way you think about your circumstances . I wish you all the best. 

Thanks. I have been trying to focus less on things I can't change (the state of the country and the lack of opportunities). This is why I've been looking into moving abroad. I've also just gotten my Irish citizenship secured, so that's a big step to being able to do other things. Thank you for the book recommendation. 

I recommended several pages back that shared ownership/help to buy resolves your problem, I couldn’t have bought in London without it and did it twice. What are your thoughts on this as the thread is unnecessarily long and this is your solution to live in London? You hadn’t responded. 

Thanks. I've read up on shared ownership and I've mostly been advised to avoid it like the plague. It appears to be a swindle where you're subject to spiraling fees and stand to gain very little, while housing associations gain a lot. 

And I've never understood why people like you worry about how long a thread is. People reply because they want to. You don't have to read it. 

jonnydeppiwish!

[Deleted User] said:

brett19852010 said:

wildbilljones said:

roaduser3189 said:

What an interesting thread. I think there are some really solid suggestions made by others in terms of finding places to live around London (some even within) that it's worth looking in to. As you mentioned change wont happen overnight in the practical sense. However perhaps a change in attitude is something worth looking at. You cant change things such the cost of houses nowadays or how expensive commuting is, those are not within your control so for your own benefit stop focusing so much energy on the negatives. Think of the things you can change. From what I have gathered you are lonely and alone. I suggest reading something called "The Happiness Trap" , great book and it can change the way you think about your circumstances . I wish you all the best. 

Thanks. I have been trying to focus less on things I can't change (the state of the country and the lack of opportunities). This is why I've been looking into moving abroad. I've also just gotten my Irish citizenship secured, so that's a big step to being able to do other things. Thank you for the book recommendation. 

There is nothing wrong with the country and no lack of opportunity. By choosing London you forego what the country has to offer: up and coming cities, short commutes, reasonably priced houses, standard of living. I have had my time in london and made pragmatic choices thereafter. London is an overcrowded, overpriced rat run. It does not tend to offer space,  value and quality of life. 

"There is nothing wrong with the country and no lack of opportunity."

What a ridiculous thing to say. UK house prices have risen fourfold since 1980 and the retirement age is 4th highest in Europe. Buy-to-let was allowed to run riot. 

If you'd read the thread, you'd see that I left London a year ago. Spare me the University of Life chat. 

Perhaps, rather than being rude, listen to some advice? London is not the be all and end all. If you want to live there, you need to take stock of your choice in career and where you want to live.

Rather than slating the country off, why not disappear to Europe or Asia and work there? Pretty sure you’ll have the same issues where ever you decide.

Unlikely you’ll find any solace here when you’re unwilling to appreciate that you may actually be the problem, rather than the country is screwing you over.

[Deleted User]

jonnydeppiwish! said:

[Deleted User] said:

brett19852010 said:

wildbilljones said:

roaduser3189 said:

What an interesting thread. I think there are some really solid suggestions made by others in terms of finding places to live around London (some even within) that it's worth looking in to. As you mentioned change wont happen overnight in the practical sense. However perhaps a change in attitude is something worth looking at. You cant change things such the cost of houses nowadays or how expensive commuting is, those are not within your control so for your own benefit stop focusing so much energy on the negatives. Think of the things you can change. From what I have gathered you are lonely and alone. I suggest reading something called "The Happiness Trap" , great book and it can change the way you think about your circumstances . I wish you all the best. 

Thanks. I have been trying to focus less on things I can't change (the state of the country and the lack of opportunities). This is why I've been looking into moving abroad. I've also just gotten my Irish citizenship secured, so that's a big step to being able to do other things. Thank you for the book recommendation. 

There is nothing wrong with the country and no lack of opportunity. By choosing London you forego what the country has to offer: up and coming cities, short commutes, reasonably priced houses, standard of living. I have had my time in london and made pragmatic choices thereafter. London is an overcrowded, overpriced rat run. It does not tend to offer space,  value and quality of life. 

"There is nothing wrong with the country and no lack of opportunity."

What a ridiculous thing to say. UK house prices have risen fourfold since 1980 and the retirement age is 4th highest in Europe. Buy-to-let was allowed to run riot. 

If you'd read the thread, you'd see that I left London a year ago. Spare me the University of Life chat. 

Perhaps, rather than being rude, listen to some advice? London is not the be all and end all. If you want to live there, you need to take stock of your choice in career and where you want to live.

Rather than slating the country off, why not disappear to Europe or Asia and work there? Pretty sure you’ll have the same issues where ever you decide.

Unlikely you’ll find any solace here when you’re unwilling to appreciate that you may actually be the problem, rather than the country is screwing you over.

I've listened to lots of advice, thanks. There are lots of helpful, understanding contributions in this thread. I don't include the one that says 'there is no problem with the country, there is no lack of opportunities'. Sorry if that bothers you. 

And if you read the thread, you'll see that I've recently gained Irish citizenship (it takes over two years to get it). So I am now able to leave the country that 'has no problems or lack of opportunities'. 

I've been working full time and renting overpriced rooms in London for over 10 years. I still can't afford to buy a home. You can pretend I'm the problem if you like. 

sturgeon

[Deleted User] said:

sturgeon said:

[Deleted User] said:

roaduser3189 said:

What an interesting thread. I think there are some really solid suggestions made by others in terms of finding places to live around London (some even within) that it's worth looking in to. As you mentioned change wont happen overnight in the practical sense. However perhaps a change in attitude is something worth looking at. You cant change things such the cost of houses nowadays or how expensive commuting is, those are not within your control so for your own benefit stop focusing so much energy on the negatives. Think of the things you can change. From what I have gathered you are lonely and alone. I suggest reading something called "The Happiness Trap" , great book and it can change the way you think about your circumstances . I wish you all the best. 

Thanks. I have been trying to focus less on things I can't change (the state of the country and the lack of opportunities). This is why I've been looking into moving abroad. I've also just gotten my Irish citizenship secured, so that's a big step to being able to do other things. Thank you for the book recommendation. 

I recommended several pages back that shared ownership/help to buy resolves your problem, I couldn’t have bought in London without it and did it twice. What are your thoughts on this as the thread is unnecessarily long and this is your solution to live in London? You hadn’t responded. 

Thanks. I've read up on shared ownership and I've mostly been advised to avoid it like the plague. It appears to be a swindle where you're subject to spiraling fees and stand to gain very little, while housing associations gain a lot. 

And I've never understood why people like you worry about how long a thread is. People reply because they want to. You don't have to read it. 

You’re truly screwed then if you haven’t done the research. There are zero fees with help to buy, the official government scheme. Avoid the private shared ownership schemes. It seems you haven’t checked it out and hence don’t realise the crucial differences. 

With HTB you buy a share, you pay nothing on the share you don’t own until year 5 where you pay a very small amount of ‘rent’. If you sell before or remortgage to buy the rest etc then there’s no fee. You just benefit from the profit of the sale (you would hope) and get your % share of that. With other shared ownership schemes you pay rent on the share you don’t own from day one, can be restricted when selling to only those applying for similar schemes, and other downsides. You don’t get these main issues with Help to Buy. 

It’s not great that your only option is to buy a share in a home. But that’s your option in your circumstance wanting to live in London. As I said, I’ve done it twice and very profitably. Would still be saving for a deposit otherwise. 

If you’re taking some online naysayers and disregarding it then you really are in a hopeless position. All the best. 

[Deleted User]

sturgeon said:

wildbilljones said:

sturgeon said:

wildbilljones said:

roaduser3189 said:

What an interesting thread. I think there are some really solid suggestions made by others in terms of finding places to live around London (some even within) that it's worth looking in to. As you mentioned change wont happen overnight in the practical sense. However perhaps a change in attitude is something worth looking at. You cant change things such the cost of houses nowadays or how expensive commuting is, those are not within your control so for your own benefit stop focusing so much energy on the negatives. Think of the things you can change. From what I have gathered you are lonely and alone. I suggest reading something called "The Happiness Trap" , great book and it can change the way you think about your circumstances . I wish you all the best. 

Thanks. I have been trying to focus less on things I can't change (the state of the country and the lack of opportunities). This is why I've been looking into moving abroad. I've also just gotten my Irish citizenship secured, so that's a big step to being able to do other things. Thank you for the book recommendation. 

I recommended several pages back that shared ownership/help to buy resolves your problem, I couldn’t have bought in London without it and did it twice. What are your thoughts on this as the thread is unnecessarily long and this is your solution to live in London? You hadn’t responded. 

Thanks. I've read up on shared ownership and I've mostly been advised to avoid it like the plague. It appears to be a swindle where you're subject to spiraling fees and stand to gain very little, while housing associations gain a lot. 

And I've never understood why people like you worry about how long a thread is. People reply because they want to. You don't have to read it. 

You’re truly screwed then if you haven’t done the research. There are zero fees with help to buy, the official government scheme. Avoid the private shared ownership schemes. It seems you haven’t checked it out and hence don’t realise the crucial differences. 

With HTB you buy a share, you pay nothing on the share you don’t own until year 5 where you pay a very small amount of ‘rent’. If you sell before or remortgage to buy the rest etc then there’s no fee. You just benefit from the profit of the sale (you would hope) and get your % share of that. With other shared ownership schemes you pay rent on the share you don’t own from day one, can be restricted when selling to only those applying for similar schemes, and other downsides. You don’t get these main issues with Help to Buy. 

It’s not great that your only option is to buy a share in a home. But that’s your option in your circumstance wanting to live in London. As I said, I’ve done it twice and very profitably. Would still be saving for a deposit otherwise. 

If you’re taking some online naysayers and disregarding it then you really are in a hopeless position. All the best. 

I have researched. That's great if it's worked for you. I'm concerned about things such as the following:

"If your home goes up in value, you will need to repay more than the government initially loaned you. For example, if you took out a 20% Help to Buy equity loan on a property worth £180,000, this loan would be worth £36,000. However, should you want to repay in full, and your house has risen in value to £200,000, you would have to pay back £40,000 (20% of £200,000)."

tooldle

Here is another stat for you. My folks bought their first house in 1963. They moved on in 1985 and sold the property to a local couple. That couple in turn sold the property in 1988. Sale price in 1963 £2,300. Sale price in 1988 £80,000. A terrifying multiplier in just 25 years, considerably more than the fourfold rise you mention since 1980. The house is in a low wage area and with interest rates at that time being in the high teens, the house was well out of reach to first time buyers and probably second steppers also. 

I’ve said before, it’s all relative. Buying a first place is hard, and there are degrees of ‘hardness’ depending on location, personal circumstances, wages and type of property. There is no perfect scenario with property and compromise is needed, if you truly wish to make a purchase.
Stop crippling yourselves with thoughts of what should be, and crack on with living in what is. The grass may look greener elsewhere. Every country, county, city etc has its downsides. There is no utopia.
Retirement age is what you want it to be. It is possible to retire before reaching state pension age subject to making the necessary savings. There is no free lunch. The more you pay either through tax into state scheme, or contributions into private schemes, the more flexibility you’ll have. In the UK we’ve ditched SERPS. Many European countries retain earnings related state pension schemes.

[Deleted User]

tooldle said:

Here is another stat for you. My folks bought their first house in 1963. They moved on in 1985 and sold the property to a local couple. That couple in turn sold the property in 1988. Sale price in 1963 £2,300. Sale price in 1988 £80,000. A terrifying multiplier in just 25 years, considerably more than the fourfold rise you mention since 1980. The house is in a low wage area and with interest rates at that time being in the high teens, the house was well out of reach to first time buyers and probably second steppers also. 

I’ve said before, it’s all relative. Buying a first place is hard, and there are degrees of ‘hardness’ depending on location, personal circumstances, wages and type of property. There is no perfect scenario with property and compromise is needed, if you truly wish to make a purchase.
Stop crippling yourselves with thoughts of what should be, and crack on with living in what is. The grass may look greener elsewhere. Every country, county, city etc has its downsides. There is no utopia.
Retirement age is what you want it to be. It is possible to retire before reaching state pension age subject to making the necessary savings. There is no free lunch. The more you pay either through tax into state scheme, or contributions into private schemes, the more flexibility you’ll have. In the UK we’ve ditched SERPS. Many European countries retain earnings related state pension schemes.

It's not all relative. That's the point. 

And no, there is a retirement age. It's set by the government. It's the age that you can receive state pension. As current working generations will largely be without property they can cash in, state pensions are hugely important. Personally, I don't want to live/work that long because I'll never be more than an average earner and I don't enjoy living in a room in a shared house. 

And I am trying to 'crack on'. The point of the thread was to explore options. 'Shared ownership',  'Croydon' and 'move somewhere a long way from everyone you know' are the leading options. 

tooldle

Retirement age is what you want it to be. Nobody has to work until they receive state pension, unless that is their only source of retirement income. For some, state pension is the limit of what they will receive but for those with good incomes I.e. you, there are plenty of options. The flip side is that now, a person cannot be forcibly retired from their job at 60 or 65, as was the case until fairly recently, giving those who want or need to continue working, the opportunity to do so.
Today’s UK is a far more equal society that the one I was born into. Swings and roundabouts will be forever present. Somethings will work in your favour and others won’t. Take the emphasis off the negative and think of the possibles, rather than the ‘I can’t because’. Once again, I wish you luck in whatever you choose to do next.