want to get out of parents

MultiFuelBurner

tiger135 said:

ok well i dont think i have enough to buy anything suitable mortgage free right now. so i will need a mortgage when the time comes.
in the meantime as mentioned in other discussions the rental market has gone up as there are less available.
both these factors are pressuring me to carry on lodging.

Glass half full, look at the positives

1) very healthy deposit
2) motivated to move (I think but I'm not convinced)

Have you even bothered contacting all the local estate agents covering your preferred area to get top of their list and view properties before they are advertised?. Have you approach a mortgage broker or bank to get your AIP?/ And to know exactly how much you could borrow and the cost?

Get ready or get comfy with parents popping into their/your bedroom whenever they like.

Sarah1Mitty2

tiger135 said:

ok well i dont think i have enough to buy anything suitable mortgage free right now. so i will need a mortgage when the time comes.
in the meantime as mentioned in other discussions the rental market has gone up as there are less available.
both these factors are pressuring me to carry on lodging.

Good move. Did you see the care worker on Sky news last night, mortgage gone from 700 p.m to 1400, guy needs to work 80 hours a week just to stand still, there will be many people in that position who were probably told that they should mount the "ladder" at all and any cost, you are putting yourself in a VERY good financial situation by keeping housing costs low and saving/investing the money you save by doing this.

Sarah1Mitty2

MultiFuelBurner said:

tiger135 said:

ok well i dont think i have enough to buy anything suitable mortgage free right now. so i will need a mortgage when the time comes.
in the meantime as mentioned in other discussions the rental market has gone up as there are less available.
both these factors are pressuring me to carry on lodging.

Glass half full, look at the positives

1) very healthy deposit
2) motivated to move (I think but I'm not convinced)

Have you even bothered contacting all the local estate agents covering your preferred area to get top of their list and view properties before they are advertised?. Have you approach a mortgage broker or bank to get your AIP?/ And to know exactly how much you could borrow and the cost?

Get ready or get comfy with parents popping into their/your bedroom whenever they like.

Not a good move to throw a healthy deposit into property at the moment in my opinion.

tiger135

on one hand i'm happy to wait until the right property comes up, ideally freehold, small garden, right area before commiting to buy.
on the other hand i want my own space asap but privately renting is extremely expensive and there is a lack of supply right now.
i dont really want to live in someone elses house either at my age.
 i am hoping there is some kind of self contained air bnb i can rent for 6 months to buy some time?!

Sunsaru

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

Saver73

Hi OP - definitely set yourself some goals to work towards.  Maybe write a list of positives and negatives for both sides of your situation.

You're in a great position to buy a property though seem to be waiting for the "perfect" place that has everything you want. I'm not sure how achievable that is.

I would definitely buy and not rent. As @MultiFuelBurner says above think long term.

Your original post was in February, times passes quickly, soon it will be December!

LunaLater

Sarah1Mitty2 said:

MultiFuelBurner said:

tiger135 said:

ok well i dont think i have enough to buy anything suitable mortgage free right now. so i will need a mortgage when the time comes.
in the meantime as mentioned in other discussions the rental market has gone up as there are less available.
both these factors are pressuring me to carry on lodging.

Glass half full, look at the positives

1) very healthy deposit
2) motivated to move (I think but I'm not convinced)

Have you even bothered contacting all the local estate agents covering your preferred area to get top of their list and view properties before they are advertised?. Have you approach a mortgage broker or bank to get your AIP?/ And to know exactly how much you could borrow and the cost?

Get ready or get comfy with parents popping into their/your bedroom whenever they like.

Not a good move to throw a healthy deposit into property at the moment in my opinion.

For how many years have you now been predicting an imminent fall in house prices?

[Deleted User]

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

Sunsaru

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

Goalposts change all the time, so long as you keep your eyes on the prize you'll get there... eventually.

Emily_Joy

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

I don't think the goalposts should be set in terms of house prices that nobody can really control.