The 'We're saving for a deposit' thread

happytails

MrDT wrote: »

Are you sure that the EA isn't taking you for a ride? You've upped your offer twice already... maybe they're just trying to see how far they can milk you? (maybe they've identified you on this thread and know how much you really want it even?)

If they call you in a week or two to see if still interested as the "over asking price buyer" has dropped out, I'd say it's a dead cert they've been deceiving you.

edit: what's the rush?

True, we assumed this was the reason, although we agreed we would be happy to pay the asking price as it was worth it but we shall see.

We are stuck in my mums back bedroom with my daughter and i could really do with my own house again, i think my urge might be showing with the EA so going to have to be very careful now.....

becky170

My brother and his girlfriend have got the keys to their first house today!! I'm really pleased for them both..... but maybe a bit jealous as well. I'm trying to remind myself about the joy of renting....i.e. not having to pay for repairs and it being cheapers, but sometimes I just get fed up. I don't see my flat as home, even though I've been here for a couple of years now and am planning on staying longer. The flat itself is ok, and the neighbours aren't loud, but it's not what I'd choose if I was buying somewhere. Maybe I should bite the bullet and rent somewhere nicer, even though it's more expensive that way I'd at least feel like I lived somewhere decent.

Dinah93

I'd say keep renting cheeply, and save the money towards buying somewhere decent. You'll only resent that you can't buy because your rent is so high.

ShelleyC_2

Dinah93 wrote: »

I'd say keep renting cheeply, and save the money towards buying somewhere decent. You'll only resent that you can't buy because your rent is so high.

Totally agree. I'm in frustrating rental flat but its reasonable and in the longer term more pennies for dream home pot :j

prendy_3

any ideas thoughts.
hi i am negotiating with bellways at present about a new house purchase on a px deal. I told them how much i would need for mine. plus I would give them full asking price for there's but if they would pay the stamp duty. They offered me £15,000 pounds less than i actually wanted for mine but said they will knock of £15,000 of new house price (its a show house by the way) the offer would work better for me if the 15,000 was on the offer for mine and not reduced of theres as it would leave me some spare cash this way. But they said they cant do this because there offer to me is declared on cml form whatever that means is this true any ideas please any one had any dealing on a new house purchase with bellways & px ect.thanks prendy

manic_cow

Count me in on this. I can't believe how much some of you have saved! That kind of money seems a long way away to me. Me & my bf rent my mum's flat with my brother at the moment, this is quite cheap cos it means we split everything 3 ways and have cheap rent. Me & my bf want to get our own place though and have been saving (although probably not as strictly as we could) for the past few years.

Between us we've got about £11k saved (bf has just under £8k, I have just over £3k) which would probably just about get us a 10% deposit and some of the fees. I want to get a bit more saved for furniture etc (we'll get most stuff second hand/free from relatives to start with but we're starting from scratch so need something to cover this). The problem is that every time we get some money saved something comes along, we bought a car last year which dented our savings, now bf wants to go to florida next year which will cost the best part of £2k between us probably (although we should be able to save for that without touching current savings, we just won't add much to them). I'm trying to weigh up whether we should go or not considering we probably won't afford a proper holiday for a while once we do manage to get a house.

We also need to think about getting married at some point, but despite my not-so-subtle hints I have no ring yet, so maybe we should just cross that bridge when we come to it.

With the help of this site I'm getting a lot more money savvy than I used to be. I'm currently trying to convince bf to move his money from pathetic 0.1% abbey isa to one with a higher interest rate. I've showed him the calculators on here and everything but he doesn't believe it's right! Any ideas?

VKay

House prices seem to be increasing round here- so annoying! The EAs seem to be slapping £10k on the houses we like which takes them out of our reach. I refuse to borrow more than we can comfortably afford although it's so tempting sometimes to think let's just borrow more. I'm conscious that rates will go up at some point and probably by a lot.

Im off shopping- there's only so long I can live frugally without any treats- buying a house seems like a long way off at the moment!

Good luck everyone!

JimLad

manic_cow wrote: »

I've showed him the calculators on here and everything but he doesn't believe it's right! Any ideas?

Give him a slap, its simple maths!

butterfly72

becky170 wrote: »

Maybe I should bite the bullet and rent somewhere nicer, even though it's more expensive that way I'd at least feel like I lived somewhere decent.

No! Stay where you are! We downsized from a lovely cottage by the Thames to a 2 bed flat and now save over £200 per month. Ok, the flat is not as nice but actually the location is better and over the past 2 years have saved loads... on rent and transport costs! Remember moving costs are expensive too and all those EA fees!


Hi JimLad,
hows the 'old' job going? You've doing really well with your savings I see!!:T

manic_cow

JimLad wrote: »

Give him a slap, its simple maths!

lol! I'll have to try that! I think he just isn't realising how much the interest rates have dropped cos last year he got quite a bit of interest on his isa which is why he thinks it can't be right that he'd get so little this year (assuming interest rates don't change much). He's slowly coming round though.

I was doing some calculations and based on our savings and earnings we'd probably be able to get a mortgage at the moment, but working out the mortgage+bills etc left us pretty short on a monthly basis and the interest rates are bound to start going up again soon which would put us in a bad position.

I think the best thing to do is probably save up more money for a bigger deposit, but in the time it takes us to do that house prices may go up so our LTV ratio may end up being the same even if we have a larger deposit.

Some of the suggestions in this thread are really helpful though, I think I'll try saving the amount I'd spend on a mortgage and try living off the difference. Just gotta convince bf to do the same now...