The 'We're saving for a deposit' thread

nakiwala123

Dinah93 wrote: »

Aww it's nice to be asked, I feel a fraud still following the thread given I'm not saving anymore! Got some photos here if anyone wants a nosey. The house has some undiscovered damp problems which seem to be from poor ventillation, and the quality of decoration is shocking - who paints around a bed rather than move it?! But it's all good, we're having a painting party type thing next weekend, try to get our mates over to help us strip the walls, throw a bbq and lay on some drinks, then my dad and fiance can start to actually redecorate and make it more homey. Still waiting on a quote off our builder friend on how much it would be for him to put a bathroom in upstairs. Really excited now we have it though, and I'm loving the planning process to decorate it to make it ours, just one problem really, I'm already mentally planning the next one!

just looked at your photos! Im inspired!!! Can't wait to get to where you are right now. Well done.

hostie1985

I have finally changed my sig - its now set to £20,000 - hopefully I will reach that in a couple of months time. Then maybe to £25,000 after that ..... will see. lol.

Hostie

xx

queenieplum

I officially start saving for my next property deposit (I already own a flat with little mortgage) in July - so joining this thread! Going to read the entire thing on any hints & tips with savings/savings accounts - looks like its going to be a lot of Value/Basic food for a while - but worth it in the end!
:0)

Carrie85

Just added £1200 to my savings :j

I'm so glad my totals going up, am desperate to get to £10,000 nearly there though. It's quite frustrating having earnt the money to get to that amount just waiting on more invoices to be paid again before i count it.

I am getting tempted with spending lots at the moment want to get a new computer and a few other things, will see how i go, trying not to go crazy.

Synonymous

So excited! :j
All being well I'll be completing on Thursday!

I'm more of a lurker on here but this thread has given me lots of motivation and although I'll be gutted when my bank balance nose-dives, I can't believe I've got this far all on my own and will be in my own house next week!

No more snotty landlord dictating how I live - woo!:j

Sadly probably the only time I'll ever get to walk into a bank and ask how I go about transferring £27k :cool:

HouseHunter2010

Just updated my signature Not much of an increase since last month sadly as I had road tax/mot/new tyres to pay for this month but still, every little helps I suppose!

To be honest I'm getting a bit depressed at the moment with the whole savings things as the reality of future interest rates make me think that I won't be able to afford the type of property I want...:(

Anyway, I will update again after pay day this month!

[Deleted User]

I'm going to join this thread as well, if that's okay by everyone?, my deposit saving goals are fairly long term, so I'm going to need all the motivation I can get. I'm currently studying so still got a long way to go before I'll be in a position to buy...but I do have a plan! (I think I'll be in a position to buy in about 3-5 years - so plently of time to save)...

PLAN A) Based on blue sky thinking!!! I have a savings target (in my sig) for when I complete my course, I've been saving this for a few years before I became a student again - and this will equate to 1/2 what I want for a house deposit - so when I start working again full-time I'll still have 1/2 to go (I find shorter term realistic goals more motivating than putting the full amount in). And this is PLAN A because it's based on me being able to find a full-time job sharpish at the end of my course!!

PLAN This will be put into practice if PLAN A doesn't pan out - I may have to spend my savings to live on until a job comes up, and then start the deposit saving all over again!!

Raggs_2

Although I may not be contributing regularly here, I am now officially saving for a deposit.

Between my fiance and I we save what would be around 600 pounds a month (depending on exchange rates), have around 6000 saved (wow, only just clicked it's that much), plan to be saving for 3-4 years before moving back (for me) to the UK, hope to have around 30,000 saved, then another year to get employment and credit scores sorted (hopefully some more saving). Which, depending on house prices, should be enough to get a 3 bedroom house in a nice area with 15% LTV.

Synonymous

Well I'm officially leaving this thread and joining a million others! I moved into my first house on Thursday and still can't believe its all mine! Good luck to everyone saving - I suppose I'll be saving for the next move soon enough just need a few minor things like furniture and a washing machine first!

Its such a good feeling when you move and know you've achieved something really big!

ed89

Hi, can I join this thread too?

I don't have a date in mind for when I would like to look to purchase - but probably not for another 5/6 years yet so I have plenty time to save and plenty time to do all the things I want to do with my life.

I'm just turned 21 two weeks ago and have £8500 saved in an ISA. I have £550 put down as a deposit on the place I rent which is not included in the £8500. I also have about £700 in an ISA investor account which is long-term but will not go towards a deposit.

I try to put £220 in my ISA each month but always end up going on weekends away in Europe every few months which sometimes means I only put in about £150.

So, using MSE savings calculator:

Saving £200 per month for the next 5 years, plus the £8500 i already have, I should have £20,500 for a deposit, at which point I'll be 25/26 years old.

DOes that seem realistic?