First time buyer in my 40’s - feeling discouraged

Summer69

Hoenir said:

Summer69 said:

I am single and child-free, living in Greater London/ Surrey borders. 

No different to 40 years ago. Sometimes in life one just has to compromise. Personally I exchanged a 20 minute walk to work for a 35 minute drive. First time buying being a pipedream. 

I wish I was only a 35 min drive to work! It will take me more than an hour/hour and a half to get to work. I am already compromising on plenty of things. What I am left with are the non negotiables. 

bobster2

Summer69 said:

thegreenone said: 

Summer69 said:

thegreenone said:

Summer69 said:

theoretica said:

I am still seeing several properties that meet the requirements you have shared so far.

https://www.rightmove.co.uk/properties/86506545#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/152788889#/?channel=RES_BUY

But when I was buying, I realised that what I wanted simply wasn't for sale at any price - a small property, with garden and workshop outbuildings, in walking distance of work.  I looked at the problem from the other side and went for what I liked best of what was for sale in my price range.  By now you probably have a good grasp of what does come on the market.  Perhaps people can offer suggestions for how to furnish or choose between the least bad options?

I haven’t stated what all my requirements are though. The two you have listed do not meet all my requirements. I have actually viewed the second property you listed and the bedroom is too small for anything more than one small wardrobe. 

Previously there have been properties available that would be suitable but I was on the verge of redundancy, out of work etc so unable to purchase them until now.

The built in cupboards in the second, are they too small to actually be wardrobes?  May I ask why you appear to be focussing on a bigger bedroom, when all you really do is sleep and dress in it? 

 Have you seen a mortgage broker and got a definite on how much you can borrow?  Do you have pre-approval/MIP?  Are you registered with every EA in your area?  EAs might not take you seriously unless you have an MIP(?) in place.  Sorry, if I'm overstepping the mark, just trying to understand what you want, but you're not saying so it's difficult to help.

Thornton Heath is an absolute no-no.

I don’t just sleep and dress it, I also store my clothes in it- therefore I need somewhere to keep my clothes! 

Apologies, I haven't worded my reply correctly.  The two built in cupboards - are they big enough to hang all your clothes and have shoe storage underneath?  Could you then have two big chests of drawers either side of the bed.  Would that be enough?

But, if you didn't feel it, you didn't feel it for that property.

They weren’t full sized wardrobes, like half sized things with just shelving behind the doors. No room for chest of drawers once there is a bed in the room. I saw the property when it was still fully furnished and the owners kept their clothes on clothes rails in the living room 

OK - can just rip them out an put in a cheap IKEA pax set of wardrobes that suit your needs. Or if you can't face doing that right now - just get a mobile clothes rail.

I've seen your thread from a few years ago.And I hope what I say ends up being helpful - but quite simply - if you want to get on the property ladder - unfortunately you will need to compromise on something.

There are plenty of reasonably spacious flats for £250k out there. They will all have something wrong with them - something missing that you currently feel is important.

If you keep holding out for something that ticks all the boxes - you'll be waiting for years (or forever!).

Remember somebody has bought nearly all those properties you've been looking at over the years that were within your price range. All those buyers found them to be good enough - because they compromised on something.

D123456789

When I was a first time buyer I compromised on location - it actually turned out to be a great decision. I also bought a bed with storage underneath and this worked out well. 

as a 2nd time buyer I didn’t compromise on location but the market was moving so fast I compromised on size and later extended.

There is usually a compromise to be made. I really wanted to stop renting so I bought the best I could afford in the closest area to my most desired location. The second time I bought the property with the best potential in my favoured location. 

Compromise is key, think outside the box. If you have a load of clothes you can’t find storage for then sell some stuff, you will need less storage!

Summer69

veronikamoneva said:

I'm 44 and just bought a first house as FTB, not married, no kids, and shockingly bad credit score [10 CCJs, 11 defaults]. I'm also not British. I'm surprised you only been offered £125k loan, especially that your credit history is excellent and you have proven you have money to spare [you saved very impressive deposit]. You should definitely shop around, there are lenders who currently lend at 6 x annual income, so you should be able to secure £180 k loan - which with your £125k deposit could allow you to find something better.
Also, FYI, you can always buy a house with shower and then change it to bathtub if you wanted

I have shopped around and £125k is the most I will be given. Also any more than that and I wouldn’t be able to afford it each month. 

And I know I can technically change a shower into a bath but not if there is only enough room for a shower which is the case here 

Summer69

D123456789 said:

When I was a first time buyer I compromised on location - it actually turned out to be a great decision. I also bought a bed with storage underneath and this worked out well. 

as a 2nd time buyer I didn’t compromise on location but the market was moving so fast I compromised on size and later extended.

There is usually a compromise to be made. I really wanted to stop renting so I bought the best I could afford in the closest area to my most desired location. The second time I bought the property with the best potential in my favoured location. 

Compromise is key, think outside the box. If you have a load of clothes you can’t find storage for then sell some stuff, you will need less storage!

I am already compromising on lots of things, including location. The places I am looking at aren’t places I would choose but places I know are relatively safe to walk on my own when it’s dark. Anywhere else that is within price range I wouldn’t feel safe therefore they are not an option 

Summer69

bobster2 said:

Summer69 said:

thegreenone said: 

Summer69 said:

thegreenone said:

Summer69 said:

theoretica said:

I am still seeing several properties that meet the requirements you have shared so far.

https://www.rightmove.co.uk/properties/86506545#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/152788889#/?channel=RES_BUY

But when I was buying, I realised that what I wanted simply wasn't for sale at any price - a small property, with garden and workshop outbuildings, in walking distance of work.  I looked at the problem from the other side and went for what I liked best of what was for sale in my price range.  By now you probably have a good grasp of what does come on the market.  Perhaps people can offer suggestions for how to furnish or choose between the least bad options?

I haven’t stated what all my requirements are though. The two you have listed do not meet all my requirements. I have actually viewed the second property you listed and the bedroom is too small for anything more than one small wardrobe. 

Previously there have been properties available that would be suitable but I was on the verge of redundancy, out of work etc so unable to purchase them until now.

The built in cupboards in the second, are they too small to actually be wardrobes?  May I ask why you appear to be focussing on a bigger bedroom, when all you really do is sleep and dress in it? 

 Have you seen a mortgage broker and got a definite on how much you can borrow?  Do you have pre-approval/MIP?  Are you registered with every EA in your area?  EAs might not take you seriously unless you have an MIP(?) in place.  Sorry, if I'm overstepping the mark, just trying to understand what you want, but you're not saying so it's difficult to help.

Thornton Heath is an absolute no-no.

I don’t just sleep and dress it, I also store my clothes in it- therefore I need somewhere to keep my clothes! 

Apologies, I haven't worded my reply correctly.  The two built in cupboards - are they big enough to hang all your clothes and have shoe storage underneath?  Could you then have two big chests of drawers either side of the bed.  Would that be enough?

But, if you didn't feel it, you didn't feel it for that property.

They weren’t full sized wardrobes, like half sized things with just shelving behind the doors. No room for chest of drawers once there is a bed in the room. I saw the property when it was still fully furnished and the owners kept their clothes on clothes rails in the living room 

OK - can just rip them out an put in a cheap IKEA pax set of wardrobes that suit your needs. Or if you can't face doing that right now - just get a mobile clothes rail.

I've seen your thread from a few years ago.And I hope what I say ends up being helpful - but quite simply - if you want to get on the property ladder - unfortunately you will need to compromise on something.

There are plenty of reasonably spacious flats for £250k out there. They will all have something wrong with them - something missing that you currently feel is important.

If you keep holding out for something that ticks all the boxes - you'll be waiting for years (or forever!).

Remember somebody has bought nearly all those properties you've been looking at over the years that were within your price range. All those buyers found them to be good enough - because they compromised on something.

bobster2 said:

Summer69 said:

thegreenone said: 

Summer69 said:

thegreenone said:

Summer69 said:

theoretica said:

I am still seeing several properties that meet the requirements you have shared so far.

https://www.rightmove.co.uk/properties/86506545#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/152788889#/?channel=RES_BUY

But when I was buying, I realised that what I wanted simply wasn't for sale at any price - a small property, with garden and workshop outbuildings, in walking distance of work.  I looked at the problem from the other side and went for what I liked best of what was for sale in my price range.  By now you probably have a good grasp of what does come on the market.  Perhaps people can offer suggestions for how to furnish or choose between the least bad options?

I haven’t stated what all my requirements are though. The two you have listed do not meet all my requirements. I have actually viewed the second property you listed and the bedroom is too small for anything more than one small wardrobe. 

Previously there have been properties available that would be suitable but I was on the verge of redundancy, out of work etc so unable to purchase them until now.

The built in cupboards in the second, are they too small to actually be wardrobes?  May I ask why you appear to be focussing on a bigger bedroom, when all you really do is sleep and dress in it? 

 Have you seen a mortgage broker and got a definite on how much you can borrow?  Do you have pre-approval/MIP?  Are you registered with every EA in your area?  EAs might not take you seriously unless you have an MIP(?) in place.  Sorry, if I'm overstepping the mark, just trying to understand what you want, but you're not saying so it's difficult to help.

Thornton Heath is an absolute no-no.

I don’t just sleep and dress it, I also store my clothes in it- therefore I need somewhere to keep my clothes! 

Apologies, I haven't worded my reply correctly.  The two built in cupboards - are they big enough to hang all your clothes and have shoe storage underneath?  Could you then have two big chests of drawers either side of the bed.  Would that be enough?

But, if you didn't feel it, you didn't feel it for that property.

They weren’t full sized wardrobes, like half sized things with just shelving behind the doors. No room for chest of drawers once there is a bed in the room. I saw the property when it was still fully furnished and the owners kept their clothes on clothes rails in the living room 

OK - can just rip them out an put in a cheap IKEA pax set of wardrobes that suit your needs. Or if you can't face doing that right now - just get a mobile clothes rail.

I've seen your thread from a few years ago.And I hope what I say ends up being helpful - but quite simply - if you want to get on the property ladder - unfortunately you will need to compromise on something.

There are plenty of reasonably spacious flats for £250k out there. They will all have something wrong with them - something missing that you currently feel is important.

If you keep holding out for something that ticks all the boxes - you'll be waiting for years (or forever!).

Remember somebody has bought nearly all those properties you've been looking at over the years that were within your price range. All those buyers found them to be good enough - because they compromised on something.

They aren’t wardrobes, just shelving, not wide enough to fit clothes hangers hence why the previous owners kept their clothes in the living room which I am not prepared to do!

I am already compromising on many things in my search. I am not living somewhere I will hate and not feel safe just because “other people did”.

I never once asked for advice on where to live. I asked for help about the current market and support from peope who were going through the same! 

D123456789

Yes, unfortunately the compromise has to be big enough….

 Could you maybe look in a less expensive area that you wouldn’t choose? If that is not acceptable to you, then re assess the reasons why.

The need to be close to work - can you get a job in a less expensive location and then buy close to work? If you are spending so much time commuting now, then that time saved by living closer to work would mean you have more available time to travel to see family.

If you have been looking for a long time and can’t find what you want, then maybe it’s time to change the search criteria? 

Summer69

D123456789 said:

Yes, unfortunately the compromise has to be big enough….

 Could you maybe look in a less expensive area that you wouldn’t choose? If that is not acceptable to you, then re assess the reasons why.

The need to be close to work - can you get a job in a less expensive location and then buy close to work? If you are spending so much time commuting now, then that time saved by living closer to work would mean you have more available time to travel to see family.

If you have been looking for a long time and can’t find what you want, then maybe it’s time to change the search criteria? 

I am already looking at a less expensive area fhan i currently live and where I wouldn’t choose. If I looked less expensive than this area then it would leave me with areas I wouldn’t feel safe. 

I don’t need to be close to work- the places I am looking at are not close to work. I just need to be able to get there (and afford to get there) And I can’t just “get a job in a less expensive area” - I need to work where I can get a job. I have only recently started my current job and am not prepared to leave it 

It’s only been in the past few weeks I’ve not been able to find anything but prior to that there was plenty, hence why I am asking if people think it’s to do with the market being slow and if it will be better in the new year! 

I’m not compromising my personal safety for any home-I’d rather stay where I am

bobster2

Summer69 said:

They aren’t wardrobes, just shelving, not wide enough to fit clothes hangers hence why the previous owners kept their clothes in the living room which I am not prepared to do!

I am already compromising on many things in my search. I am not living somewhere I will hate and not feel safe just because “other people did”.

I never once asked for advice on where to live. I asked for help about the current market and support from peope who were going through the same! 

That's why I said rip out the wardrobes and put in IKEA Pax.

I'm not suggesting compromising on areas - but unless you comprise on features - you'll likely never find somewhere to buy. As I said every property you look at will have something wrong with it.

You first started looking 10 years ago right? And 8 years ago you said you felt unlucky back then that there was nothing appropriate available at that time?

https://forums.moneysavingexpert.com/discussion/5446685/trying-to-get-on-property-ladder-disheartened/

Unless you compromise on something - it's not likely that you'll be able to buy.

Summer69

bobster2 said:

Summer69 said:

They aren’t wardrobes, just shelving, not wide enough to fit clothes hangers hence why the previous owners kept their clothes in the living room which I am not prepared to do!

I am already compromising on many things in my search. I am not living somewhere I will hate and not feel safe just because “other people did”.

I never once asked for advice on where to live. I asked for help about the current market and support from peope who were going through the same! 

That's why I said rip out the wardrobes and put in IKEA Pax.

I'm not suggesting compromising on areas - but unless you comprise on features - you'll likely never find somewhere to buy. As I said every property you look at will have something wrong with it.

You first started looking 10 years ago right? And 8 years ago you said you felt unlucky back then that there was nothing appropriate available at that time?

https://forums.moneysavingexpert.com/discussion/5446685/trying-to-get-on-property-ladder-disheartened/

Unless you compromise on something - it's not likely that you'll be able to buy.

They aren’t wardrobes! Just shelving with doors. You couldn’t fit a wardrobe there as the space is not wide enough.

I am comprising on lots of things but I WiLL NOT compromise on personal safety, being close enough to my parents so that I can care for them and simple things like not having to keep my clothes in the living room!!  Especially if places start coming up again in a few months time! 

I am viewing a flat this week that doesn’t have a bath. But I know I really need one for my medical issues. 

I was about to buy in 2020 but due to Covid I was made redundant, and due to my industry and the type of work I do I was only able to get back into it this year, otherwise I’d have been sorted by now.

When I last looked a few months back there were plenty of places within my price range - all I was asking for was advice as to why there wasn’t now I am able to buy!