want to get out of parents

SavingPennies_2

OP it actually sounds like you don't really want to move out at all. You have a huge deposit... buying, renting...either is doable but you seem to be putting obstructions in the way for yourself. 

[Deleted User]

Sunsaru said:

[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.

Would be nice to get there before I'm 50 though.

[Deleted User]

Emily_Joy said:

[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. 

I do. Housing should be affordable.

Sunsaru

[Deleted User] said:

Sunsaru said:

[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.

Would be nice to get there before I'm 50 though.

I feel for you mate, took me 20+ years to be able to buy.

Sarah1Mitty2

[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.

Higher interest rates will do a good job of fixing it, and much quicker than five years.

MultiFuelBurner

[Deleted User] said:

Emily_Joy said:

[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. 

I do. Housing should be affordable.

Owning a house takes hard work and sacrifice for many. 

Why should it be affordable?

Why should their be a right for everyone to own on an island with every increasing population and not enough houses being built to sustain the increase in population year after year?

People that sacrificed have benefitted, as they should.

For us that was 4 jobs between the two of us and just one afternoon together for 4 years to buy our first house. We have been rewarded for that effort time and time again and what it did was also set us up for life as well. Hard work and sacrifice pays off.

I'm not a fan of handing out affordable housing for all but am curious as to what you might think criteria should be.

I do like the idea of good renter's being rewarded and a scheme for them from the government to help get them on the ladder. People that prove they can pay a rent should have that taken into consideration for a mortgage to buy for themselves.

ayupmeduck

MattMattMattUK said:

Simonon77 said:

Retireby40 said:

I have always been someone who preferred house sharing than with parents.

I always ask you people who want to buy, or have their own place, but say they can't afford it.....do you have a breakdown of every cost you have.

Most say no.

I ask them do they spend more than £15 a month on their phone. They say yes.

I ask them how often they go out. They say not much....yet spend £200 on social events a month.

Overall little by little their costs accumulate and they say. I can't afford it.

The bottom line is. They can.....however they aren't ready to sacrifice things for it.

Not everyone is in this boat. But a lot of people are.

Not to mention how many are spending a fortune leasing a car or paying a loan on it because they have to have a 3 year old BMW to keep up with their mates... Spending £100 on a Saturday night out isn't uncommon, and add in the designer wardrobe etc...

Conspicuous consumption/keeping up with the Jones's has always been a car crash of a decision. One does not need a flash car or designer clothes, indeed bucking those trends actually tends to work out better, I probably only own a couple of items of what would be regarded as designer clothing and they are very subtle, but buying good fitting clothes is far more important. With cars it always seems that something practical and reliable is far more important. That being said it is not difficult to spend £100 on a night out without doing anything crazy, even drinking beer at £6.50 a pint in a fairly normal pub in the South East £100 is possible, throw in a taxi or two, something to eat etc. £100 is pretty easy, once live music and trains are thrown in £100+ is guaranteed. 

I live south east coast and thankfully beer isn't £6.50 a pint unless you are going for keg or maybe some larger. It does cost us nearly £10 for 2 though. I have no designer clothes, no car and probably around £200 a month left after all out goings (including a little saving). I want to start saving for a deposit but it is looking like our rent will double when we move or they do up the place we are currently in.

Wish I'd known about money management when I was younger.

[Deleted User]

Sarah1Mitty2 said:

[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.

Higher interest rates will do a good job of fixing it, and much quicker than five years.

Sadly I doubt it. It certainly won't bring prices back down to 1990s levels.

[Deleted User]

Sunsaru said:

[Deleted User] said:

Sunsaru said:

[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.

Would be nice to get there before I'm 50 though.

I feel for you mate, took me 20+ years to be able to buy.

What did you do about your mortgage term? Did you manage to get 25 years or did you have to shorten it?

That's the other thing that make it harder now than it was for older people. They could buy young and get a 35 year mortgage in many cases, and still retire in their 60s.

Sunsaru

I got 25 years but aim to shorten it over time.