Need to start thinking about this malarky!

southernscouser

danm wrote: »

you need to weigh up the travel costs with moving further afield tho.

as an example, ticket from say the heathway to central london is about £1200 a year...move up the A13 to say thurrock and i'm fairly sure its more like £2500. another £100 a month or another £20,000 on a mortgage.

have you thought about part buy part rent?

I drive to work so have put some thought into increased petrol costs but it will probably be £2 a litre before I get my own place. :rotfl:

I know absolutely nothing about them to be honest!

fc123

Have you gone as far as getting a rough idea on how much mortgage you could have on your current salary?

kitschy

danm wrote: »

you need to weigh up the travel costs with moving further afield tho.

as an example, ticket from say the heathway to central london is about £1200 a year...move up the A13 to say thurrock and i'm fairly sure its more like £2500. another £100 a month or another £20,000 on a mortgage.

have you thought about part buy part rent?

I'm part-buy part renting. For now, it means I can get a nice place in a nice area which I can stay in for a couple of years and then reassess. Hopefully by which time I'll have met a nice man and we can buy a house together

Who am I kidding, I'm gonna die alone and be eaten by my pack of dogs. Need to act before I hit 30 and head south.:rotfl:

Seriously though - check out the shared ownership schemes in your area, it was the right choice for me.

southernscouser

fc123 wrote: »

Have you gone as far as getting a rough idea on how much mortgage you could have on your current salary?

Yeah but I don't want to talk about it. :rotfl:

Well basing it on 4 x my wage, only £106,000 but I've asked for a payrise and I'm semi confident so it could be at least £120,000 based on that!

Even if I do save a 10% deposit, £130,000 still won't really get me much!

Maybe I'll have to rent!

southernscouser

kitschy wrote: »

I'm part-buy part renting. For now, it means I can get a nice place in a nice area which I can stay in for a couple of years and then reassess. Hopefully by which time I'll have met a nice man and we can buy a house together

Who am I kidding, I'm gonna die alone and be eaten by my pack of dogs. Need to act before I hit 30 and head south.:rotfl:

Seriously though - check out the shared ownership schemes in your area, it was the right choice for me.

I always think of them as scams despite not knowing what they are!

Do builders offer them because they are getting something in return or because it's the only way to shift houses?

danm

Part buy part rent in a nutshell (aka shared ownership)

you apply to a shared housing scheme, usually run by a local housing associatin for acceptance onto the programme, or for a particular property. (they will have a stock of property that may be on offer).You buy part of the property (usually around 20-40%) and you effectively rent the other portion from the housing association running the scheme.

still needs to be affordable, but as Kitschy says, can be a good way to get on the ladder. Check out Tower homes. i think they do quite alot in the local area. I even think some of the new places on gants hill roundabout might be shared ownership

fc123

southernscouser wrote: »

Yeah but I don't want to talk about it. :rotfl:

Well basing it on 4 x my wage, only £106,000 but I've asked for a payrise and I'm semi confident so it could be at least £120,000 based on that!

Even if I do save a 10% deposit, £130,000 still won't really get me much!

Maybe I'll have to rent!

£!20K? Wouldn't that would get you something OK in Dagenham? 1st property is always going to be modest.....don't go near NEW BUILDS....post on here on a sep thread *Title* ; New Build flat? and see the responce.

southernscouser

danm wrote: »

Part buy part rent in a nutshell (aka shared ownership)

you apply to a shared housing scheme, usually run by a local housing associatin for acceptance onto the programme, or for a particular property. (they will have a stock of property that may be on offer).You buy part of the property (usually around 20-40%) and you effectively rent the other portion from the housing association running the scheme.

still needs to be affordable, but as Kitschy says, can be a good way to get on the ladder. Check out Tower homes. i think they do quite alot in the local area. I even think some of the new places on gants hill roundabout might be shared ownership

And that rent you pay, does that pay off the rest of what you owe or do you have to find that as and when you want to buy it?

Yeah I've seen them in Gants Hill. Both sides of the road going up ain't they?

fc123

Ooooops just went on RM and you are right...few ex LA 1 beds.....
*shocked* prices in Dagenham:eek: ..

Save (boooring I know...but you know it's the right advice and wait. House share is a good living experience plus you could move nearer to London (if that's where you work?)

kitschy

southernscouser wrote: »

And that rent you pay, does that pay off the rest of what you owe or do you have to find that as and when you want to buy it?

Yeah I've seen them in Gants Hill. Both sides of the road going up ain't they?

The rent doesn't come off what you owe. You can buy more chunks as and when you can afford it. I'm buying 50% of mine, but whacking down a bigger deposit so I have a smaller mortgage, and can afford to still have a life, and save a bit toward the next chunk.

Essex boy :eek::eek: