The 'We're saving for a deposit' thread

Dinah93

EagerLearner wrote: »

Is everyone on here looking to buy more in 2009 or 2010? More importantly, if you had the money, would you do it now?

Looking to buy in 2010, my circumstances are that I don't need to move now, so I wouldn't even if I had the money, as I do think there is further to fall. I'm not so worried about neg equity as I plan to stay in my first house 5-10 years, however I believe that by waiting 6 months I'll get more house for my money.

Thanks for all the warm messages of congratulations guys, its really touching x

purplevamp

EagerLearner wrote: »

Is everyone on here looking to buy more in 2009 or 2010? More importantly, if you had the money, would you do it now?

I don't think we'll have enough saved by 2010 to move. But if I had the money I would move tomorrow. I can't wait to get out of my current house but as it's H/A if we moved to private renting our rent would go from £470 to at least £1,200 per month :eek:

MrDT

EagerLearner wrote: »

Is everyone on here looking to buy more in 2009 or 2010? More importantly, if you had the money, would you do it now?

We've already got the money, enough to put down over 40% on a very nice house that's not in quite the best area (I mean convenience-wise, not rough or anything, just a bit too rural for our liking).

Don't feel any rush to buy. Prices still dropping in our area, and I suspect that when we eventually hit the bottom prices will be near enough static for a couple of years (especially in 'real' terms), can't imagine we'll be seeing double digit HPI anytime soon.

It would actually be cheaper for us to buy than to rent right now (due to us only needing a small mortgage), but the rent is cheap and we're happy to pay the extra for the convenience the place affords us. We also need more time living in rented to make absolutely sure we want to buy together (just being a realist, we've been together a little over a year, and buying a house jointly is a big deal), so renting a while longer makes sense in our circumstances. It helps that as we watch prices drop we're squirrelling away about a grand a month to add to the deposit too

Realistically, I expect that we'll be buying a house similar to the one mentioned at the start of this post, but in a better, more convenient location (not out in the boondocks!) sometime in 2010, maybe 2011.

Alizarin

EagerLearner wrote: »

Is everyone on here looking to buy more in 2009 or 2010? More importantly, if you had the money, would you do it now?

I'll be getting a bit of money from the sale of my late grandad's house, so once that sells I would potentially a 10% deposit ... but, my wages aren't high enough yet for anyone to give me a mortgage! (I'd need 6 x my salary - eek!). But if I had enough for a 50% or higher deposit, I'd definately buy now. I'm looking forward to the security of owning my own place, especially since my landlord sold my current house without even telling me :eek:.

But realistically - I'll probably buy in 2013 / 2014, as it'll take that long for me to save for my deposit and get some nice big payrises!

focus888

Alizarin wrote: »

I'll be getting a bit of money from the sale of my late grandad's house, so once that sells I would potentially a 10% deposit ... but, my wages aren't high enough yet for anyone to give me a mortgage! (I'd need 6 x my salary - eek!). But if I had enough for a 50% or higher deposit, I'd definately buy now. I'm looking forward to the security of owning my own place, especially since my landlord sold my current house without even telling me :eek:.

But realistically - I'll probably buy in 2013 / 2014, as it'll take that long for me to save for my deposit and get some nice big payrises!

Im exactly in the same boat. Cant afford any mortgage to get a decent place where i am right now. Hoping to get a better job in the future that pays a lot more. Saving slowly i think will help me because i dont have much spare cash.

lydiandrew

If I could I would buy now, as it is we are looking at mid 2011 at the earliest (which I find completely frustrating!) as we won't be able to get enough of a deposit saved till then :mad:

Congratulations Dinah, we got engaged last October and married this April and I would highly recommend it! The only bad thing is that I'm more desperate for a house now than I was before we got married lol (I am extremely impatient hence the 6 months to get married lol)

Well done with everyones deposit savings, I have started to get hubby a bit more interested in saving due to a slow brainwashing process! (constant talking about houses!)

Anyone heard from Happytails? has she moved yet?

EagerLearner

Sentiment seems to be in the press much more to do with falls from now, rather than the green shoots that had been touted about. It makes it very confusing as an FTB to know what to do.
In Sussex I am not sure if the falls will be the same as everywhere else that's the thing...

dippykitty

I don't think I'll be in a position to buy for a few years yet. I'm initially aiming for a 10% deposit (plus more for fees and a bit left over for furniture etc.) but ideally, I'd like more like 20-30% - which will take some saving at my current saving pace!

[Deleted User]

EagerLearner wrote: »

Is everyone on here looking to buy more in 2009 or 2010? More importantly, if you had the money, would you do it now?

Due to my own stupidity with money, I have been unable to save money until now. I finished paying my Trust Deed in February this year, so that is when I started saving.

I still live at home with my parents, but am desperate to move out as I would love my own place. If I had the money today for a deposit I would be out of there!!
Realistcally I will probably not start house hunting until about this time in 2011 or early 2012 ( February 2012 would be when my credit report will be clear!!:j ) Although from talking to the man in my bank last year I could be given a mortgage as early as Feb 2011 if they can see I have savings put aside (which I have) and have not got myself back into debt.

VickyA_2

I am hoping that we will be able to buy in 2010. DH has just got in touch with a mortgage advisor and we're looking at how much we can realistically borrow as FTBs with the current deposit. We don't want to buy just for the sake of it, but with people (ie media) saying that you have to have X to buy and then saying, no you have to have Y we just want to know what WE can do. Probably not very much, but at least we'll know whether we should lower our expectations.