The 'We're saving for a deposit' thread

happytails

hostie1985 wrote: »

jak and mouche,

I know what you mean, i moved back with the parents a little while a go to save for a deposit for a place - it has saved me a lot of money, i was paying just over 550 for a room in a shared house.

We moved back in with my parents when i was 9 months preg, me, OH and baby living at mums has enabled us to save £1000 a month on 1 wage of £1500 a month and we have had our offer accepted on a lovely house so FC we will be back in our own place soooon! Except this time we dont have to ask to paint a damn wall :rotfl:

hostie1985

happytails wrote: »

We moved back in with my parents when i was 9 months preg, me, OH and baby living at mums has enabled us to save £1000 a month on 1 wage of £1500 a month and we have had our offer accepted on a lovely house so FC we will be back in our own place soooon! Except this time we dont have to ask to paint a damn wall :rotfl:

Congratulations on the house, i bet you're really excited to be moving in!

tara747

jak wrote: »

It is really hard to save a substantial amount while paying huge amounts of rent, isn't it? Or bills and rent come to nearly 1400 pcm and can't be cut anymore! So... anyway, just wanted a moan really

mouche wrote: »

We're in the same boat jak - rent, bills and a bit put aside for holidays and for my in laws comes to £2000. If and when I have a child and go on maternity leave, we'll have to dig into our deposit savings to keep afloat. Sad days when you have to choose between having a child and paying your biils!

:eek::eek::eek::eek::eek::eek::eek::eek::eek:


OH and I pay only £500pcm rent - rates (council tax) are included in that amount and our bills are pretty low! Where do you guys live?

mouche, when you say 'putting something aside for your in laws', what do you mean?

Sorry if I'm being nosey and feel free to tell me to mind my own business. It's just that my mum would love to retire but prob can't live on just a pension, so I am considering offering to help out. I just don't know how much she would need though and am trying to work out a good way to ask.

LabLover

Hi there , was wondering if I could join?? Starting to get to that mid way point in savings and January just seems so far away. Mind you we are saving in difficult times , OH has been made un employed 3 times this year and we have had to dip into deposit money every time ! Just got engaged as well so will be saving for a wedding also . However every time I feel down about how long its taking us to plod on I give myself a pat on the back, becoz it would be so easy to get a loan to pay for wedding and deposit for house , but it would cost us in the long run!

LL X

EagerLearner

Hi all,

Well we have looked at a few places but nothing amazing, sellers are still asking way too much as far as we can tell.

We're saving around £1,000 a month when possible but also worried about buying a place at the moment when job losses are on the increase...

hostie1985

Round the area i want to live, prices dont seem to have changed that much.

That is really good that you can save a £1000 a month Eager Learner.

mouche

jak - I know what you mean about wanting the security of a home for your son. I think house prices aren't going to go up for a while still so at least we aren't having to watch prices spiral out of our reach. We're aiming for the same amount by the way!
Happytails, congratulations on the house - maybe you could post a pic after you move in to spur the rest of us on! Unfortunately, moving in with my parents isn't an option for OH and me because we're not British and our parents are in India.
Tara, we live in Greater London hence the eye-watering costs even though our borough is the cheapest in London! Our rent is £1000, council tax £127, other bills around £200 (including gas, elec, water, Sky, internet, 2 mobile phones). The remaining £650 odd goes on groceries, occasional eating out (OH is a chef and considers this 'research'), household stuff, holidays (we go to India once a year so we need to put quite a bit aside). It doesn't always come to £2000 but anything leftover goes into our car fund and baby fund. Not being citizens, we won't get any benefits when we do have a child so I'm trying to build up a small cushion for that time. I'm not that young anymore so it will have to be within the next few years.
As for my in laws, they aren't that well off and being the older son, my OH feels responsible for helping them out. We give them about £1000 a year though of course that's for Indian prices so I guess it won't help you with your decision. Sometimes, like when they needed to get repairs done to their house, we give them a top up mid year. I've tried to set expectations this year by telling them we probably won't be able to afford this when we have a child but practically speaking, we will have to go on helping them as much as we can.
Fortunately my own parents are better off and have offered to top up our deposit when we decide to buy a house. That won't be for at least a year because non-British citizens generally get terrible mortgage rates (if they get offered a mortgage at all) so we will probably wait till we naturalise before we buy. Hopefully, that will coincide with the bottom of the housing market as well - one can only hope!

[Deleted User]

I have managed to add another £53.50 from my babysitting money to my house savings!! Only £12.15 to go to hit my 10% of my total house savings! :j:j

happytails

hostie1985 wrote: »

Congratulations on the house, i bet you're really excited to be moving in!

We are so excited - but i feel like something is bound to go wrong! Getting gazumped, bad survey etc FC though it all turns out dandy! x

jak

We live in Weymouth and pay £665 pcm for a 3 bed house. We could've had a 2 bed for a bit cheaper but i'm going to be childminding from october and I wanted the extra space for a playroom. Our bills are come to about £1400 altogether- that includes food and everything.
I just hope I get some children in October! Keep your fingers crossed for me! We are hoping to borrow about 92K so when we do buy, our mortgage with probably be cheaper than our rent!!!! STUPID really! Just need that massive deposit first!
Good luck everyone!