The 'We're saving for a deposit' thread

Mikazaru

Jaymz wrote: »

What sort of properties are people in this thread aiming for? My current deposit + mortgage total would get me a 1 bed flat in the town I would like to live, however once I reach my target I should have enough to get myself a lower end 2 bed flat (which is ideally what I want) a little further away.

Realistically I'm looking at possibly a lower range two bed flat, although ideally I'd like to save for a little two bed terrace too.
Like you I'm doing it alone and don't want to stay at home too long, although it makes saving a lot easier!

Wantahouse_2

Met with my first ever Mortgage Advisor this morning, and it was all very positive - should have all my options in front of me for us to review on Friday. Very excited. Still a few months off but hopefully we'll be viewing houses during the summer and will be ready to move by the end of the summer.... hopefully.... saving is starting to depress me a bit if I'm honest..... miss having a life!

Jaymz

Another question for you deposit savers. Are the types of property you're looking at dropping in price? I've been using Property Bee for a couple of years now and within the last few months there have been a number of price drops on the types of property I would consider viewing.

Hopefully later this year I will have saved my deposit, prices may have come down a bit more and we can meet nicely in the middle!

samtoby

Although the prices haven't changed I can see the prices that are being accepted for them are. Looking at the roads on Zoopla the average is going down. x

J_i_m

Right so I took a decision that on the face of it struck a massive blow to my savings. I settled my bank loan over 2 years early. So as of the end of this month I am out of debt! :j

I hate seeing a lower figure in my savings... But in the longer run this saves me approximately £330 in interest and it also means I can save an extra £100 a month from now on.

So all in all... The logical choice it is.

samtoby

J_i_m wrote: »

Right so I took a decision that on the face of it struck a massive blow to my savings. I settled my bank loan over 2 years early. So as of the end of this month I am out of debt! :j

I hate seeing a lower figure in my savings... But in the longer run this saves me approximately £330 in interest and it also means I can save an extra £100 a month from now on.

So all in all... The logical choice it is.

That was a good decision :T

SG27

Jaymz wrote: »

Another question for you deposit savers. Are the types of property you're looking at dropping in price? I've been using Property Bee for a couple of years now and within the last few months there have been a number of price drops on the types of property I would consider viewing.

Hopefully later this year I will have saved my deposit, prices may have come down a bit more and we can meet nicely in the middle!

I use property bee too! It's excellent!

I've not really noticed that asking prices have changed much over the last year or two. What normally happens is that they come on at a high price and are slowly reduced over the months. So 9 times out of 10 houses that come up in my search that I'm interested in have dropped from a higher price into my price range.

What I have noticed is that offers much lower than we thought are being accepted. For example one house which we viewed was originally asking 230,000 eventually dropped to 205,000 and came on net houseprices as selling for 183,500! Another one also started at 230,000 and dropped to offers in excess of 210,000 and sold for 190,000, which we would have happily offer had the agent not told us that they were considering an offer of 205,000! I'm waiting for a few more to come on the land registry now.

When we make offers we are planning to use these as examples and use our big deposit and first time buyer chain free status to negotiate a good deal!

gazfocus

Just looking for some motivation...

How much are you guys all trying to save per month? Are you doing anything different to increase the amount you're able to save each month?

samtoby

gazfocus wrote: »

Just looking for some motivation...

How much are you guys all trying to save per month? Are you doing anything different to increase the amount you're able to save each month?

I am living at my Mums while saving and saving my salary from my day job every month and my child support....that sounds so bad!:eek:

I am living on my 2nd jobs money which is £50 cash in hand I do an hour a night Monday to friday when my little boy is put to bed. Its killing me I am always tired but its the only way.

gazfocus

samtoby wrote: »

I am living at my Mums while saving and saving my salary from my day job every month and my child support....that sounds so bad!:eek:

I am living on my 2nd jobs money which is £50 cash in hand I do an hour a night Monday to friday when my little boy is put to bed. Its killing me I am always tired but its the only way.

Wow, go you! I kinda wish we had the chance to live with parents hehe...would make things so much easier

I get paid weekly from my main job and it's so frustrating because it's hard to save the money but we've set ourselves a weekly goal of £50/w and then just as much as we can on top of that throughout the month.

My self-employed business is web design (and associated services) so am hoping to make enough from that the top up what we don't manage to save through work and I've just applied for Working Tax Credits which will give us an extra £45/w which will go straight to savings.

Really hope we can make it work though because I'm so tired of paying off someone else's mortgage lol