Worried First Time Buyer - In Too Deep?

Badger_Lady

pinkkaz wrote: »

Just sounds like where I grew up, and if it is then I would have gone to the grammar school in question and worked at Waitrose on a Saturday. And it is expensive and in Wiltshire and there's a leisure centre and lots of Victorian houses!

Hey, how old are you? I went to the same school! :T But Waitrose wouldn't give me a job

Butterfliesarepretty

amosp wrote: »

My girlfriend and I are first time buyers and have ummed and ahhed for a few months over a recent development and we’ve finally put a reservation down on a house. It’s a new build 3 bed semi detached with a garage that we’re absolutely in love with.

This is only my opinion and I have bought 3 bed semi, a 4 bed detached, and now live in a two bed terraced from the years 1994-2008. Really first time buyers should go for the two bed terraced to start off with.

I’m a worrier by nature and my main concern has always been whether we are getting ourselves in too deep.

Check what your combined salaries are and leave yourself at least £300 after all bills gone out to survive.

The property is 137,950 which is a stunning price for the property. So it’s difficult to imagine passing up this opportunity. The builder and ourselves combined are putting down 10% and the remainder we are able to borrow from RBS on a 2 year fixed rate at £688.00pm.

Have you tried the nationwide or other lenders? I am sure you could get a better deal, or maybe I am out of touch now:D

However when I’ve ran through our figures. I’ve deducted things like car tax, insurance, mobile phone bills, health bills and even haircuts from our separate monthly earnings, then (leaving us £70 and £100 respectively in “pocket money” a month) poured the rest into the joint account where I’ve deducted mortage, utilities, insurances etc. We’re then left with £100 in that. That’s not budgeting for things like nights out, clothes and other frivolities. I don’t know if we can live on this?

Have you deducted food and petrol?

I’m now getting myself chewed to death about whether this is the right thing to do.

Have you guys got any advice/thoughts on this?

Please be very very sure as its not a good time to buy yet. I saw the last house price crash in 1993 and I lost £7,000 on my property. Bought it for £59,950 and sold it at £52,000.:eek:

pinkkaz

Badger_Lady wrote: »

Hey, how old are you? I went to the same school! :T But Waitrose wouldn't give me a job

Left swgs in 1999...

poppyolivia

mlz1413 wrote: »

Your post no. 125 quoted by MSMonkey on post no. 130 - but you'd know that if you checked your facts

No Sharn Sherlock and your point?

Go spread the joy!!;)

Right thats me done argueing I'm getting bored, hopefully the OP will get a lovely property either now or whenever he finds the one for him and his girlfriend, i'm sure it will be sooner than he thinks and I wish him all the best, as I know it can be done!

mlz1413

poppyolivia wrote: »

and your point?

proving you don't check facts and can't even remember what you've done in the same day.

poppyolivia

mlz1413 wrote: »

proving you don't check facts and can't even remember what you've done in the same day.

Why don't I? seriously help me out here youre argueing about nothing!!!...pm me if you want because I think you a really losing it...and I mean that in a nice way!

moneysavinmonkey

poppyolivia wrote: »

as I know it can be done!

Unbelievable!:eek: You really don't get it do you.

Why don't you go and buy a lottery ticket tonight - I'm sure you will win the jackpot as I know it can be done.

poppyolivia

moneysavinmonkey wrote: »

Unbelievable!:eek: You really don't get it do you.

Why don't you go and buy a lottery ticket tonight - I'm sure you will win the jackpot as I know it can be done.

:rolleyes: wheres the yawning smiley?

and just to clarify all you 'reading between the lines folks' I was on about the OP..... is that clear or are you going to start quoting me for another 3 pages worth????

moneysavinmonkey

poppyolivia wrote: »

:rolleyes: wheres the yawning smiley?

and just to clarify all you 'reading between the lines folks' I was on about the OP..... is that clear or are you going to start quoting me for another 3 pages worth????

?? i don't understand how does this relate to what i said ??
please could you tell the op the price you paid for your first property that you bought when you were on the same wage that they are now. thank you.

mlz1413

poppyolivia wrote: »

Why don't I? seriously help me out here youre argueing about nothing!!!...pm me if you want because I think you a really losing it...and I mean that in a nice way!

Thought you were 'bored now' or are you going to say that wasn't you either