The 'We're saving for a deposit' thread

birduk

Zelie, I'm the same. I moved into my first (rented) house on my own with my granny's deck chair, some wooden chairs (borrowed), single bed, no wardrobes and the old TV sitting on top of an old apple crate. I had no dramas with it!

Now I have IKEA wardrobes that probably won't survive another move, second-hand sofa (with throw) and my OWN DOUBLE BED! The rest can wait and come with time, I don't need everything NOW. I'd rather have a bigger deposit.

tara747

Zelie wrote: »

I've always held that I'm going to get furniture gradually. So buy a few essentials like cooker, fridge, washing machine and then sit on the floor and sleep on a mattress if I'm lucky. It's not for everyone but it would annoy me to spend on furniture that I like somewhat and then have to save for really nice stuff. So I'm just going to wait and save again so I can buy the things I really want.

birduk wrote: »

Zelie, I'm the same. I moved into my first (rented) house on my own with my granny's deck chair, some wooden chairs (borrowed), single bed, no wardrobes and the old TV sitting on top of an old apple crate. I had no dramas with it!

Now I have IKEA wardrobes that probably won't survive another move, second-hand sofa (with throw) and my OWN DOUBLE BED! The rest can wait and come with time, I don't need everything NOW. I'd rather have a bigger deposit.

I'm the same as both of you.

I've updated my savings in my sig and have £400-ish in ISA interest on the way next week, woo hoo!!!!!!!!! :beer::beer::beer::beer:

Squish_21

birduk wrote: »

Also saving here, but don't have quite what you lot do! Unfortunately OH can't save a lot, so it is just me...... But trying my best!

Just wondering what you are factoring in for moving costs. I have most stuff already as I rent unfurnished- so thinking washer, fridge etc only. The rest will come over time. I was thinking of wacking my fees on a cc and paying it off over time, every penny counts towards the deposit! I would be able to pay it off with the amount I am currently saving instead. Or do you specifically have to have your fees seperately?

I am saving for both deposit and moving costs.

Dinah93

Our solicitor who is doing the conveyancing does not take cards, so this fee would have to be cash (unless you find one who takes credit cards), and as the stamp duty is paid through the solicitor if we were paying that that would have had to be cash too. The survey company took credit cards though, and there was no morgage arrangement fee.

bodmil

I think this might just be the thread for me! I need to work out my goals now!

Fab26

Hello everyone! This is my first post. I have been lurking for a while, so I thought why not register and share my experience of saving for a deposit.

I am 26 years old. I am in full time employment with a salary of £21500 per annum. I live with my parents, and I contribute £100 a month towards expenses. My workplace is only 4 miles away, so I cycle to work everyday, which allows me to save bus money. I also buy food once a week for which I normally spend £35. I cook dinner and make enough for mine and my boyfriend's lunch for the next day, which we microwave.
My boyfriend lives with us too. He is 29, on £27,000 p.a. and also contributes £100 towards expenses at home. He also cycles to work, so saves tube money. He saves most of his salary in different saving accounts and has also invested some in shares.

We have been saving for about 1 year and a half, and so far we have about 37,500 for our deposit. We aim to save 60K by early 2011, so I am now saving £1000 a month (£500 in my ISA and £500 ING saving account) My boyfriend is saving a bit more than a £1000 a month too.

We're very lucky to be able to stay with my parents whilst saving, we wouldn't be able to do this if they didn't support us this way. It hasn't been easy though, because we do need our space, and sometimes I get very depressed about our current predicament, as we're both in our late 20s and still at home. But having this objective keeps us sane and makes us work harder and be determined to make our dream come true.

We want to buy a one-bedroom property with a private garden and a garage in the region of £180,000, ideally in South London (East Dulwich is our favourite spot) The garage is very important for future investment and the garden is important for me as I want to grow vegetables and have a couple of cats

I keep seeing nice properties on the internet but we're not ready to buy yet. It's so disheartening seeing these properties that are perfect for us and we cannot afford yet! Just one more year and hopefully we will be able to!!

bodmil

Done, gulp. Rather wish I hadn't done that! Loooooong way to go!

bodmil

Fab26, what a great plan, you sound very sensible about it. Good luck!

Carrie85

hey everyone,

welcome to all the newbies, feel like i only started saving recently but been over a year of proper saving now.

Little update from me, i've just added another £300 to my total taking me up to £7000. Still got invoices which once paid to me should add another £1000 to my total. Its quite frustrating knowing its coming in but not counting it yet.

Can't wait to reach my next target big target of £10,000 feels like i'm slowing down a bit with the savings though.

eternal_sunshine

hey all, i've been starting to save for a deposit this year, but i had a trip to paris to fund so i couldn't totally concentrate on the house thing. I had some savings from last year, so i have 2180 at the minute, and was orginally trying to make £6000 my goal by the end of the year(originally me and the bf were going to try and get £5000 saved each this year, but i upped my aim a bit) but now i think i can push it a bit more and get £7500 by the end of the year, and if he can do the same, we'll be starting 2011 in a better position than 2010, so heres hoping!