The 'We're saving for a deposit' thread

tara747

Yes, I want a mortgage that will allow overpayments - that's if we end up having to get a mortgage lol. I would love not to need one. Imagine the freedom!!! Ahhhhhhhhhhhhhhhhhhhhhhhhh

tara747

p.s. JimLad - where are you buying, and how long have you been with your GF? I remember you had intended to buy with your ex and were disappointed when it all fell through. I'm glad you met someone else.

redbull5

Bump, Opened a new cash halifax isa so hope to save some more money along with the Santander FHS. Also cashing in my baby bonds so thats 2k to put away in the ISA. Keep saving guys.

quintwins

i'm with tara the dream is to have no mortgage at all, thats another plus side of a self build, downside ofcourse is the time it takes and living in a mobile home

:ji finally managed to put some money in my savings, only £280 but i'm so glad i finally managed to start saving again it's been that long on, i'm hoping to put another £400 in at the start of the month (rents due on the 8th so i will see where i'm at after that)

hope your all doing well and squirelling away those pennys

tara747

quintwins wrote: »

i'm with tara the dream is to have no mortgage at all, thats another plus side of a self build, downside ofcourse is the time it takes and living in a mobile home

:ji finally managed to put some money in my savings, only £280 but i'm so glad i finally managed to start saving again it's been that long on, i'm hoping to put another £400 in at the start of the month (rents due on the 8th so i will see where i'm at after that)

hope your all doing well and squirelling away those pennys

Ooh, where are you intending to build? I'd love to build my own house.

quintwins

tara747 wrote: »

Ooh, where are you intending to build? I'd love to build my own house.

around portadown armagh area, where abouts are u? we have always said we'd like to build because it's acually cheaper to build in the longrun altho we may pay the same amount we would for a house of similar size we'd have no interest on a mortgage and we'd save rent in the mean time because we'd have to rent longer for a deposite for a hosue than we would have to save for a plot of land (hope that makes sense) also it would be our house the way we wanted it not the way someone else says it should be, the only real downside for us is the living in a mobile home with 3 kids :eek:

tara747

quintwins wrote: »

around portadown armagh area, where abouts are u? we have always said we'd like to build because it's acually cheaper to build in the longrun altho we may pay the same amount we would for a house of similar size we'd have no interest on a mortgage and we'd save rent in the mean time because we'd have to rent longer for a deposite for a hosue than we would have to save for a plot of land (hope that makes sense) also it would be our house the way we wanted it not the way someone else says it should be, the only real downside for us is the living in a mobile home with 3 kids :eek:

Where are you living atm? Are you renting?

I don't really understand your points in coloured text. Re saving for a deposit v. saving for a site... surely sites are still quite expensive?

I'm in Belfast - not sure where I want to live tbh. I love the country but am freaked out listening to people's stories about long commutes/traffic jams! We both work here and I love having a v. short commute on foot/by bike.

We have about £63,000 saved between us right now and hope to have £75,000 by the end of 2011.

p.s. :eek: @ living in a caravan!!! My friend's brother is doing it and has had no end of delays on the house build... they have now spent their THIRD Christmas in the caravan and are losing the will to live. Although I fancy building a house, tales like that make me nervous.

quintwins

mse have pinched my qoute and thanks button (it won't load properly ) but anyhoo

we have no intention of buying a plot as such we know a few people on the planning board (nothing dodgy btw just they will help us fill our forms in) and a few loopholes that we have seen work so we will be prtty much buying a field which we expect to pay £10,000 for then we plan to live in a mobile home for 4 years at the very least (see thats the scary bit) but we do think it will more than likely be 5yrs as we will be building as and when we can afford to, that is however going on our income now at that point i should also be working which will hopefully hurry things along

if we decide to buy it will be a 3bedroom ex council house in which case we would have to rent for an extra year so will lose out on £6500 in rent, if we do decide to go this way our repayments will be the same as our rent to instead of saving we will be making over payments and hopefully paying said house off within 6-7 years at which point we would look at the market and we would either try to sell, or remortage and continiue to live there and use the remortage money to build, this option will take longer

i'm very put off at the thought of a mobile home we have acually considered getting 2 so were not all on top of each other as we wouldn't be buying new anyway, we have also considered building our garage first and living in it with stud walls ect but were not 100% this is legal so thats something else to look into closer to the time

either way it will be a huge downsize for us from our nice big bungalow in the country, were also very lucky that my hubby works less than 1/2 a mile away our kids school is a 10min drive so no commute, i couldn't manage the commute into belfast everyday it would drive me round the bend

were near rushmere/craigavon if that helps

tara747

quintwins wrote: »

mse have pinched my qoute and thanks button (it won't load properly ) but anyhoo

we have no intention of buying a plot as such we know a few people on the planning board (nothing dodgy btw just they will help us fill our forms in) and a few loopholes that we have seen work so we will be prtty much buying a field which we expect to pay £10,000 for then we plan to live in a mobile home for 4 years at the very least (see thats the scary bit) but we do think it will more than likely be 5yrs as we will be building as and when we can afford to, that is however going on our income now at that point i should also be working which will hopefully hurry things along

if we decide to buy it will be a 3bedroom ex council house in which case we would have to rent for an extra year so will lose out on £6500 in rent, if we do decide to go this way our repayments will be the same as our rent to instead of saving we will be making over payments and hopefully paying said house off within 6-7 years at which point we would look at the market and we would either try to sell, or remortage and continiue to live there and use the remortage money to build, this option will take longer

i'm very put off at the thought of a mobile home we have acually considered getting 2 so were not all on top of each other as we wouldn't be buying new anyway, we have also considered building our garage first and living in it with stud walls ect but were not 100% this is legal so thats something else to look into closer to the time

either way it will be a huge downsize for us from our nice big bungalow in the country, were also very lucky that my hubby works less than 1/2 a mile away our kids school is a 10min drive so no commute, i couldn't manage the commute into belfast everyday it would drive me round the bend

were near rushmere/craigavon if that helps

I was just about to suggest building the garage first and making it all cosy, it'd be a squeeze but at least the garage would have walls!

You could do both I suppose... then you would legally be living in the caravan but you could be in the garage when you felt like it. Wouldn't a caravan be cold in winter though? Oh and FOUR YEARS, wow, that's hardcore. I couldn't do that, no way. :eek:

Do you work close by too? That's a handy commute your husband has.

quintwins

i don't work at the mo, with 3 kids under 5 it wouldn't pay me to work, my twins start proper school in sep tho, as soon as it's an option i will be getting a job

no mobile homes aren't too bad in the winter really, also we would be installing a multifuel stove and since my hubbys a printer we could burn paper brickettes for free, then we'd be moving the stove with us to the new house aswell

no matter what we do we will def be building our own house it just depends on how we get there

i know 4 years is along time but i also think going into it knowing it will be 4-5 years will help because rather than feeling like were stuck there forever we'd see it as getting closer to the finish line, aslong as we go into it with our eyes open