The 'We're saving for a deposit' thread

Starbrite

quintwins wrote: »

i'm building, so as soon as i reach my target (we have a strict upper budget on our land as we know how cheap it goes) we will start looking, we may even start looking at auctions before that, while still saving to start building asap ofcourse.

Are we going to see you on Grand Designs? What an exciting idea build your own house to meet your own needs, style etc

quintwins

Starbrite wrote: »

Are we going to see you on Grand Designs? What an exciting idea build your own house to meet your own needs, style etc

i doubt it, our house will prob be too trampy for grand designs, heres the things over here atleast with our lower land prices, it costs very little to build if you choose to, we plan to pay for the main things like brick work,roof, plumbing. electrics but everything esle hubby can do, plumbing and elecs will eb a mates rate job aswell, so altho we'll spend around the same we would buying , we'll have paid no interest we'll have got into no debt, it will have decent sized rooms that fit our needs, i hate tiny rooms cause we have twins so too young for bunk beds but our be very upset at being split up. TBH we're gonna have a big rectangle house it won't look like much from the outside, most likely vare block work due to the fact it's easier and quicker to build a square/rectangle and it makes roofs ect cheaper. but it will be our home and inside is what counts.

Sylvia1982

eviekins wrote: »

Are people thinking they will look to buy as soon as they've reached their targets? What are people's opinions on whether houses will drop in price over the next few years? I don't really have a target as such, but I think im tempted to wait and see what happens to the market.

Good question, i am currently having issues on deciding on increasing my deposit as mortgage rates can only go one way and also the areas that i am planning to look will require a much larger deposit.

Who knows what will happen around this time next year. Just go with what you think feels right for you, as we all live in different areas

lvm

eviekins wrote: »

Are people thinking they will look to buy as soon as they've reached their targets? What are people's opinions on whether houses will drop in price over the next few years? I don't really have a target as such, but I think im tempted to wait and see what happens to the market.

I would love my dream home to suddenly spring up on the market as soon as I have my deposit!

But the reality is, I reckon before I get there I'll have added even more expectations and will need an even bigger deposit and then will want to save for extra fees so they're not taken off deposit amount.

In an ideal world I'd have completed deposit saving in Sept 2014 and be moved into my new house by October 2014!

Starbrite

Well all the finers toes eyes being crossed didn't work:( Being made redundant not sure on my end date yet, they asked what I wane so said 3 mths pay and rest of my holidays (I have 18 days left!)

I'm hoping I know find a lovely new job, so the above monies can go straight into the pot....... Would give me a bit of a boost. Also should get some money back when my NCB are released on my insurance I think I'll put that towards a cheap holiday I need one after the year I've had!

Fingers crossed my maths is spot on

[Deleted User]

Starbrite wrote: »

Well all the finers toes eyes being crossed didn't work:( Being made redundant not sure on my end date yet, they asked what I wane so said 3 mths pay and rest of my holidays (I have 18 days left!)

I'm hoping I know find a lovely new job, so the above monies can go straight into the pot....... Would give me a bit of a boost. Also should get some money back when my NCB are released on my insurance I think I'll put that towards a cheap holiday I need one after the year I've had!

Fingers crossed my maths is spot on

I know that it seems like a big blow just now - but it could be the beginning of a great new opportunity!

Enjoy your holiday where ever you end up going - you definitely deserve it!

D9

nicedream_2

Sorry to hear that, Starbrite I hope you find another job quickly. What field do you work in - do you think you'll be able to find things to apply to? It would be awesome if the money could go straight in the pot!

MiddyMum

Sorry to hear that Starbrite, hope you find another job soon.

Lizling

eviekins wrote: »

Are people thinking they will look to buy as soon as they've reached their targets? What are people's opinions on whether houses will drop in price over the next few years? I don't really have a target as such, but I think im tempted to wait and see what happens to the market.

I am, because my rent will go up again in December and I'm not looking forward to that at all. I think I could be hit with easily a 10% increase and if it's any more than that, I'll have to move out anyway. For all I know, it could go up 20%. They'd still find someone to pay it so there's nothing stopping them.

I don't really know enough about the markets outside of London to speculate much there, but in London, I think more foreign money will flood in as soon as the Eurozone starts to break up, and that will make the high end property market go even more mental. On the other hand, there's such a build up of renters who are desperate to get out and have been saving up their deposits for a good few years (that's me!), that FTBs will flood in and push up prices as soon as mortgage lending criteria relax just a little more. I can't imagine what kind of economic shock it would take to wipe out the effect of all that pent up demand and make house prices in the nicer areas fall. Unexpected things do happen though.

I'm not worried about prices falling because having a flat that's fallen into negative equity is much, much less scary to me than relying on the rental sector.

MiddyMum

I wont be able to buy for a good few years at least and I would love to buy in London but to be honest I think its a dream and I will never be able to afford one there. The areas I would be looking at are not sought after at all and would still require a good 100k deposit. Ouch! I just have a feeling London house prices are going to spiral out of control and soon every area will be out of reach, even the " rough " areas. Its interesting because someone I know in London lives in Putney and she said when she first bought her house, Putney was considered on the same par as Walthamstow, but now Putney is very popular! I suppose if I saved for longer I could buy a little terrace in a rough part of London, but I am not sure if I will resent that or not after all those years saving. Luckily the nature of my job will mean that I can live anywhere in this country..

Anyway, for anyone buying in London, please do share your plans etc because I will live my dreams through you. lol. I think I am going to settle for buying up north instead.

MM x