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Is there any chance for me to buy
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Roadtonowhere100121
Posts: 19 Forumite
Basically I live in Hertfordshire, I have around 10,000 in savings. I would live where I commute to cheshunt and Stevenage easily. I work in London so would need to be able to get into London. My salary is 28000.
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Shared ownership is probably your only option.Roadtonowhere100121 said:Basically I live in Hertfordshire, I have around 10,000 in savings. I would live where I commute to cheshunt and Stevenage easily. I work in London so would need to be able to get into London. My salary is 28000.
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If you have to live within commuting distance of London then it's very unlikely.
Is there any possibility you could do hybrid working as part of your job? Then you could buy somewhere cheaper like Suffolk and pop into London a few times a week.0 -
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Your best bet is to look for something (1 bed flat/shared ownership) in Stevenage. There are flats there for sale at between £100,000-130,000. Easy commute to London and not too far from Cheshunt. In the meantime, try to increase your savings as you would normally need a 10% deposit, plus monies for solicitor fees/searches/surveys etc.1
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How old are you? What is your career trajectory like?0
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I was on a similar salary to you when I bought my first place, and was commuting three days a week to London, it was tough but to get on the ladder I bought shared ownership near the station (Hemel Hempstead - I moved from rental place in Hitchin though train service to London from there was bearable) with good train service into Euston. That was ten years ago. I sold the shared ownership one bed for a two bed two years ago in the same area, no longer s/o as I had accrued equity slowly on the first property. If you buy in a popular area with great transport links into London and give it some time you should later have more choices so however hard it is I’d recommend getting on the ladder even if s/o.Just do your research and buy in a nice area would be my recommendation, and any more you can add to deposit will help.1
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Many thanks for your help, appreciate it0
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Hertfordshire is one of the most expensive counties! Try in adjacent Bedfordshire where prices are still reasonable in comparison.Happiness is buying an item and then not checking its price after a month to discover it was reduced further.0
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Best of luck pal, never give up0
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