The 'We're saving for a deposit' thread

tara747

I dread having to hand over all my savings one day! Even worse if it's to a bank lol. I really would love to buy for cash, I hate the thought of having a mortgage.

quintwins

u know the sad thing tara you'll need to save a good 2/3 times what you have now to buy outright in belfast in a decent area, but what you have now would buy a hosue outright 30-40miles away

you could always keep an eye on wilsons they always have a few in belfast on there

tara747

quintwins wrote: »

u know the sad thing tara you'll need to save a good 2/3 times what you have now to buy outright in belfast in a decent area, but what you have now would buy a hosue outright 30-40miles away

you could always keep an eye on wilsons they always have a few in belfast on there

I have seen a 4-bedroom house (fixer-upper) on the Ormeau Road for £75,000 so OH and I could technically buy that for cash by the end of this year! It has no garden though (big no-no).

I think that if we're going to buy for cash, we'll probably be buying something that needs work - but I don't mind that, I like the thought of doing somewhere up.

You're right about outside Belfast though - wish I could be bothered with the commute! The petrol costs would need to be factored in as well...

quintwins

yeah fuel would be a nightmare altho my sister did work in the hospital for abit and she got the train, it cost her £25 a week, which is acually pretty good since your talk atleast £60 to drive it

see i don't mind a fixer-uper either but it's harder to get a mortgage on a fixer-uper we looked at a huge plot with a tiny wee house that needed alot of work but we planned to live in while we built but the bank wouldn't touch it even as a plot it was good value and had outlined planning premission, they said they wouldn't do it as a house because the house wasn't worth it, and they wouldn't do it as a plot because it had a technically liveable house on it, we were gutted at the time because it was an amazing price to start with even for a plot

tara747

quintwins wrote: »

yeah fuel would be a nightmare altho my sister did work in the hospital for abit and she got the train, it cost her £25 a week, which is acually pretty good since your talk atleast £60 to drive it

see i don't mind a fixer-uper either but it's harder to get a mortgage on a fixer-uper we looked at a huge plot with a tiny wee house that needed alot of work but we planned to live in while we built but the bank wouldn't touch it even as a plot it was good value and had outlined planning premission, they said they wouldn't do it as a house because the house wasn't worth it, and they wouldn't do it as a plot because it had a technically liveable house on it, we were gutted at the time because it was an amazing price to start with even for a plot

But we would probably buy a fixer-upper for cash and then do it up as we went along. We can save almost £2,000 a month between us atm, so that would then be our fixing-up budget.

How much did the bank value the house at, compared to the selling price?

quintwins

they wouldn't even touch it, tbh it was our first attempt and we went to our own bank, and they just said as ftb they wouldn't lend us anything for it, we were abit annoyed since then we've been to the mortgage shop tho and looked at all our options properly and have a better idea of what we can acually get

your doing well to save £2000 a month, we can save £800-£1000 a month (get paid weekly so we save more on a 5week month ) but we have a really bad habit of saving decent amount then blowing it all, but it's always big purchases i'm really tight with our day to day spending and really we don't need any big items at the mo, if we didn't have rent to pay that would be another £530 then if i was working we could prob add a few hundred onto that

tara747

quintwins wrote: »

they wouldn't even touch it, tbh it was our first attempt and we went to our own bank, and they just said as ftb they wouldn't lend us anything for it, we were abit annoyed since then we've been to the mortgage shop tho and looked at all our options properly and have a better idea of what we can acually get

your doing well to save £2000 a month, we can save £800-£1000 a month (get paid weekly so we save more on a 5week month ) but we have a really bad habit of saving decent amount then blowing it all, but it's always big purchases i'm really tight with our day to day spending and really we don't need any big items at the mo, if we didn't have rent to pay that would be another £530 then if i was working we could prob add a few hundred onto that

What a shame.

We save about £2,000 between us every month. Some months it's more - especially if I've been doing a bit of eBaying. In Jan (IIRC) I saved about £2,300 on my own - it was a very good eBay month!

quintwins

wow thats some brilliant ebaying lol, most i've made on ebay was about £100 lol, because i don't work i'm incharge of all the money, i think he helps that i used to live on my own and have very little to live off so i know how to stretch things, where as my hubby moved out of home when we got back from honeymoon and his mum spends about £300 a week on food !!! it was a big change for him but we never go without, i just shop ariound and plan well ahead, i have just ordered my lo's last birthday pressie today, all his pressies have cost £22 but he'll love them, his birthdays not til july which is how i managed to do it so cheap, for me it's not about making money but spending as little of what i have that i can

tara747

quintwins wrote: »

wow thats some brilliant ebaying lol, most i've made on ebay was about £100 lol, because i don't work i'm incharge of all the money, i think he helps that i used to live on my own and have very little to live off so i know how to stretch things, where as my hubby moved out of home when we got back from honeymoon and his mum spends about £300 a week on food !!! it was a big change for him but we never go without, i just shop ariound and plan well ahead, i have just ordered my lo's last birthday pressie today, all his pressies have cost £22 but he'll love them, his birthdays not til july which is how i managed to do it so cheap, for me it's not about making money but spending as little of what i have that i can

Good for you!

I totally agree. I am very frugal, OH is not bad but he has defo improved since he met me! I am the MSE queen as far as he's concerned lol! He teases me about it sometimes - for example, buying presents in the sales to last all year, stocking up on toiletries etc when there's a really good deal, reducing waste and reusing things - but he's very glad of the money saved by doing so, and the little luxuries that we can have for next to nothing thank to glitches and grabbits.

Being MSE is second nature to me - sadly, most of my friends are not like me and some have shocking debts. I don't think any of them have much in the way of savings either!

OMG @ £300 a week on food! :eek: How many people did she have to feed?

J_i_m

I just did my weekly food shop and it came to... gets receipt, £16.23. Now I admit... I'm going without on a few luxuries, and I also currently live on my own, and I also expect to eat on the cheap so to speak by having left overs from work.

But usually I try to spend no more than £25 on my weekly shop.