The 'We're saving for a deposit' thread

rainbow90

andrea1968 wrote: »

Almost 2 years to the day that I became debt free we've had our mortgage offer approved and can start the frightening process of actually buying the thing that for me was the impossible dream.

To say I'm happy is a bit of an understatement but I'm so proud of what I've acheived after being in debt for most of my adult life. Hard work does pay off and it makes it all the more sweeter.:j:j

Well done thats so amazing I have only just started saving but I absolutely can't wait to buy a house. Did you rent while you saved? I am finding this to be the biggest problem as our rent in the city centre is quite high. We could move to the outskirts to save £100-£200 a month but it would cost me that much in commuting and parking when I walk to work for free now, swings and roundabouts!! My main worry is that the landlord will put our rent up in July when our contract ends as we have a very good deal at the moment have to wait and see!

Lilhobo

Can I join in?

I am starting from scratch and hope to save a big enough deposit to be looking to buy in 5 years. I live in the north so a 3 bed house at today's prices would need a deposit of around 15-20k. We have young children so at the minute the amount we can save will only be about 200pcm but that will increase as childcare fees reduce.

So here goes nothing!

lucystardust

Thought I'd join this thread as I've just become debt free, so now the next goal is saving for a deposit.
My partner and I are very lucky as we're living in the house that my dad inherited when my nan passed away, so we're paying a very low amount of rent.
It's great to read other posts and see how much people have saved - it makes me really motivated and shows me that it can be done!

Rondles

Thought I'd join in too! Been lurking for a wee while so think it's time I did.

Saving to buy a house with my boyfriend. He can either finish uni in June, or do another year on top, so depending on his decision we'll be looking to buy at the end of this year/mid-2014.

He's lucky enough to have had a gift of £4k from his Grandad since he was little, and he has £2k in savings from when he was working full time.

I'm working full time in a not very glamorous job, and make about £15k per year (I'm paid an hourly rate so it goes by how much I work). I also get bonuses on top of that and can pick up extra hours over summer and Christmas time. I have £4k in savings just now, and have budgeted myself to be able to save about £6.5k this year, not including money from bonuses or money from working extra hours. Boyfriend works with me, but part time just now. He can easily switch to full time once uni is done until he finds a job related to his degree.

We'll be looking at the £80-90k mark. It's an exciting thing to be saving up for, and reading posts in this thread of people reaching their goals is making me even more motivated to do so!

MiddyMum

What percentage deposit are most of you saving up for 10% 15% 20%?

x

nat21luv

Probably 20%. I think I'll aim for 140-160k mortgage, a house worth 140 now will more than likely go up within the next few years. Ideally I would love to save 20% by the time I'm 30(3 years 3 months) but no doubt life will change by then!

MiddyMum

nat21luv wrote: »

Probably 20%. I think I'll aim for 140-160k mortgage, a house worth 140 now will more than likely go up within the next few years. Ideally I would love to save 20% by the time I'm 30(3 years 3 months) but no doubt life will change by then!

I am always trying to figure out how much the houses prices will rise in the next 3 years, pointless exercise but I still do it anyway. I won't be able to buy for the next 3 years at least, because as of from september I will be a student . Your price range is the same as mine too.

scumboss

51k here and 6k for costs and stuff. I've now started looking seriously. Got my mortgage in principle sorted.

[Deleted User]

Well done scumboss, it looks like your hard work has paid off. Let us all know when you've found your new home, and how the whole process goes.

Also, welcome to all the new people joining this thread in 2013!

Lets hope we all have a great saving year.

D9

Mikazaru

Well done Scumboss, that's an impressive amount.

Reached 6,000 here, had hoped for a bit more last year but did have a good year with a holiday, nice christmas etc.
Overtime has stopped this year which will make it a bit harder to save but I'm going to aim for £15,000 by the end of the year.