The 'We're saving for a deposit' thread

oldMcDonald

sarah_elton wrote: »

Am I the saddest one here? I've done a graph in my file - I have a line showing savings target, starting in October and going up till mid next year. Aim will be to have the 'actual' line, which I'll add to each month, run above it, then I'll be happy.

Nope, you are not:)

I also have an Excel 'Savings' file, complete with graph linked to my total saved and a projected graph.

I was very bored one day!

neverdespairgirl

ZoeGirl wrote: »

I am doing the $1000 in 100 days challenge and it is really spurring on my savings lol...I am 81% of the way to my goal for the year...and am

Are you in the US?

lostinrates

oldMcDonald wrote: »

Nope, you are not:)

I also have an Excel 'Savings' file, complete with graph linked to my total saved and a projected graph.

I was very bored one day!

One of the outcomes of the FA meeting we had were several graphs based on diferent decisions and targets etc. We are graphed to the max. Wish I could do them myself. The best ones were the ones showing when we would very clearly be in debt or not and it was inpirational to stay out of the red zone.

MrDT

Well it was interesting going to view the house yesterday, it's got the cogs in the old noggin ticking over at least.

Bit of a funny one really, it's described as three beds though you could describe it as either two, three, or four bed! It's in the middle of student let land, and the landlords try to squeeze as many tenants as possible in to increase the rental take, so at the moment it's being used as a four bedroom house. One bedroom on the ground floor, two on the first floor, and an attic bedroom. It'd work nicely as a three bedroom house with two living areas downstairs (downstairs office and lounge). Although the attic roof was a little low (for me anyway!) it was actually quite a nice conversion and a useable space.

The place stank to high heaven of cigarettes, unwashed laundry, damp - in a word it stank of 'students' lol. It reminded me of the good old days haha!

Short of cosmetic work and an eventual need for a new kitchen and bathroom (which I'd want no matter where I buy) it didn't seem too bad. There was a damp patch in one of the rooms that'd need sorting, and the windows are wood panelled single glazed, but short of that the place looked solid enough, it was nowhere near as bad a state as I had expected - no crumbling walls, no slipped roof tiles etc.

87.5k asking price is very low compared to asking prices in the same street a few short months ago. Houses with less than half the square footage, in a worse part of town, with no yard, in similar or worse condition, and with a worse parking situation are on for 100k asking - they have been for over six months, they're going nowhere. I guess the owner of the 87.5k house is a landlord that has a fairly desperate need to sell. Nobody's biting though, there's so little money sloshing around at the moment, and holding out a while longer means nicer properties will drop too. It's all a bit academic in my case as I expect to be saving my deposit and watching prices drop for a further 12 months at least, but it was interesting to see what 87.5k can get you these days, it needed some work, but so did the 115k houses at the start of the year

Having said I'm happy to watch and wait for at least another year (increasing deposit and decreasing prices make for a happy MrDT), if the place would sell for 60k today then I'd buy it in a heartbeat - but I suspect the 87.5k asking price is already factoring in 'market conditions'. Lets see what the situation is like in a years time. Maybe then I'll end up spending 90k, but on somewhere that needs a little less work and has offroad parking. Maybe I'll end up buying a shitter with the tiniest mortgage and suck it up parking on the street. Who knows

Anyway, truth be told I'd be too worried buying now, even if I had my 25%+ deposit saved up, I need to see how the downturn affects my job etc first. Having a very small mortgage would help as I could take 'any old job' if the worst came to the worst and still cover the repayments, I'd also insure myself to the eyeballs with regards to unemployment etc. Finding lodgers wouldn't be an issue in student let land either, whether I'd want to share with students is another question entirely (not long since I was one, but I feel old already lol). But still I'm cautious as hell. Sentiment really does rule the market, well in my case at least!

sarah_elton

neverdespairgirl wrote: »

Are you in the US?

I'm guessing New Zealand (see location )

neverdespairgirl

Good point - el thicko, here.

ZoeGirl_3

sarah_elton wrote: »

I'm guessing New Zealand (see location )

Yeah, New Zealand :P I can't actually do a pound symbol on my computer or I would just to not be different lol

There are no good online sites like this in NZ (well there is one marginal one but you have to pay for it, what kind of money saving website is that :money: ) and I have Martin's books so I come hang out here :cool:

There are a few people from NZ and Aussie around I have seen.

lyndasharp

Woodyrocks wrote: »

Been wondering when you were going to show your face in here Has the news sunk in yet?! Or are you still in shock and soon to land on cloud nine when reality sets in :T

I'm being very bouncy :j Just hope the survey doesn't come back with any nasty surprises... I have nothing planned this weekend, for a change, so I'm going to visit kitchen showrooms!

butterfly72

Well, its not been a good week for my deposit fund. I've had the dentist and optician. Opticians was £60 for a consultation (inc contact lense consultation), then new contacts (v.cheap too!) and new specs! I've got a pin head and find it hard to find glasses that look good so I often end up paying more than I'd like. Anyway found some glasses - only £410!! Luckily found a 10% off voucher online so saved a bit there! Still well worth the consultation fee as they spotted a problem in one of my eyes and have referred me to the eye hospital.

On the plus side, I've opened the Barclays RS at 7.75% so can start putting away £250 every month. Saved loads in Boots too as they have a 3 for 2 offer on at the mo. Used the Advantage booth to get extra points on stuff, including their own brand toothpaste Smile Totalcare 99p. Just as nice as the expensive stuff too! Got £80 on my advantage card now so everyone will be getting boots stuff for xmas!!!

Also, sold a book for 9.99 and cd for 4.99 on amazon. Someone at work is interested in OHs keyboard so that'll be another £150!

Oh also have joined a sewing club/class so I can learn to sew and start mending my own clothes rather than taking them to be altered. I might even have a go at a few other bits and pieces.. cushions, curtains, gifts etc! I start next month. (i'll be wanting a sewing machine then!!)

VickyA_2

It's been pay day for me today! Hurrah! I had £180 left at the end of last month's pay (after all bills had been paid and various frivolities had been spent) AND my pay has gone up as of today's pay packet, so I've put the extra pay straight into my ISA! :beer: Naturally all my other savings have been topped up too. It feels so good!