The 'We're saving for a deposit' thread

Vixstar

My deposit at the moment is about £25000, although this does take into account the equity in my current flat and I can get a loan through work to cover my fees. Not really a very big deposit considering the prices in the area I want to but in but I'm determined to e much more specific about where I live second time round.

rictus123

Aw well id be all for getting somewhere with gf. Cheap and cheerful to test the waters then move onto something better a year or 2 down the line when we are in a much better position and know what we can afford.

Vixstar

Are you considering renting together first then? Or buying?

rover123_2

I'm tryin as hard as i can to save at the moment. Got the first home buyer account with the abbey, thats £300 a month, £200 into an Egg account, and various other smaller amounts into nationwide accounts. They are for expenditure in the future. I don't want to rely on credit cards and loans in the future. I suppose now the recession is "over" house prices will rise faster than I can save...knowing my luck!! Can I ask how other people save ie. savings accounts, cash isa's etc.?

Vixstar

Rover Pretty similar really a regular saver account, an ISA and then just a normal savings account.

hostie1985

hi rover

welcome to the thread.

i used my ISA account first and filled that up, i have a home saver account (saving for first home), an internet savings account and a monthly saver account. when april comes round again, im hoping to transfer my monthly saver account into it. Hopefully i will get some interest then! haha. i just dont want to tie my money up for a year cause i might find something before then....

all the best with the savings, keep us posted.

rictus123

Vixstar wrote: »

Are you considering renting together first then? Or buying?

See how it goes. I think we will try and have about 10-15k savings each as a minimum before we even think of moving out(both live with out parents) Renting is a possibilty, i really think its throwing money away though but maybe thats just me. We could also buy cheap that we know we can afford in an area we could easy move upwards in(few years equity, know our budget etc then move up size to something better)


If we moved out to rent it would be somewhere really cheap to get the idea of living together and being together alot more than normal, cooking,cleaning and fending for ourselves. If we rented the right place we could still save while renting. I should have a massive income(compared to outgoings) in just a year and a half so the savings should mount up.

rover123_2

I saved £4600 up to now, since around march '09. But looking at everyone elses totals, mine seems like a measely sum! And I'd love to keep saving up until the 30 or 40 thousand mark, but I feel like I'll miss the boat, so to speak, if I wait another 3 years or so. My target is around 14-15 thousand, and fees on top of that! House prices rose ridiculously in the last property boom, and I don't want to keep saving and let the prices become insane again. I suppose we can only sit and wait to see how fast they rise again!

mouche

My husband and I are on the older side of FTBs (early and mid 30s) so we'd like to buy a family home - perhaps 3 bedroom - on the outskirts of London. Our budget is a maximum of £250,000 and we're trying for a £50-60K deposit. We plan to buy in 2011 August and realistically, I don't think we'll reach our target by then since we're planning a baby before that. But you never know - I could get that fab job I'm applying for or I could get a massive raise (yeah right!)

Dinah93

My soon to be hubby and I are looking to buy in the £140-£180,000 region, depending on what we see and if its worth going towards the top of what we can afford. For this we should be able to get a 3 or 4 bed semi or detached with a nice garden in decent knick in a sweet little trendy town near here. We're hoping to buy in the next few months really, give us time to do any work before the wedding.