The 'We're saving for a deposit' thread

amr547

johannalf88 wrote: »

We have hit just hit 20% of the deposit, as of this months pay! :T I have created a spreadsheet with a lovely pie chart on... Just have to keep watching the green bit eating the blue! :rotfl:

Have also increased what we are saving by an extra £50 a month. We really need to stop spending frivolously! (We tend to eat out more than we should. )

we have stopped eating out so much / buying takeaways, i;m actually amazed at how much we are saving! :rotfl: it's difficult but it can be done

johannalf88

It's complicated, as we want to enjoy life now, but need to save too! There is no point always living for the future- it might never come and you are living now! We are going to restrict ourselves to eating out twice a month, (I know some people will think that's barely a sacrifice ) but it will help us.

Hope everyone is feeling optimistic!

superscrimper782

well we hit 10% deposit this month whoop whoop, should have enough to cover the stamp duty too! Now we just need to get the legal fees and the rainy day fund, but knowing I have enough to put an offer in is really exciting. Starting to think that we should save for a bit longer and aim for 15% to get lower interest - what is everyone's thoughts on the subject?

superscrimper782

whoops should really update my signature!! managed to scrimp away 35k. not sure what the new target is, we originally thought 20% but i think i am too impatient for that.

vl2588

Why not start looking, learn how to assess houses, if you happen to see your ideal house and it's affordable snap it up, if not take your time and in the meantime you are still saving!

Good luck!

vl2588

P.S. If you can wait the rate difference between 10% and 15% is significant!

tara747

July update from me!

My new total is £69,148, so I managed to save £967 in July! Quite pleased with that. I'm still aiming to save £13,000 in 2013 - I've saved £6,948 so far, so it'll be very challenging to save £6,052 in the next five months. But we'll see!

Very exciting to be almost at the £70,000 mark

Well done to everyone else, keep on trucking

puppetmaster00

Well yet another slow month for some reason only managed to save £570 which brings us to £6,880. Will pass the 7K mark in Aug thankfully ! Not too much to go have had to move to goal to Xmas so hopefully that's do-able with all the birthdays we have coming up !

NewbuyerNE

Hi all,

I'm new to the forum & house buying and this thread is going to be great for inspiration! Well done to everyone for their amazing saving stamina

My partner & I decided to buy last year. We're currently living with his parents to save a deposit and are currently at £6560 and aiming to have £15000 by march 14. We live in the North East so this would be a 10%-15% deposit depending on the house price.

I'm putting away £787 a month & he's putting away pretty much all his wages. I've paid off every debt & he's debt free so hoping this goes in our favour.

Any tips for putting away more than we're budgeting for?

Thanks!

debrag

Well I'm not looking to buy till 2018 or 2020 depending on how my study goes.

In the area we want to live flats are £80-130K, houses start at £150k. What sort of deposit are we looking at? What wage would we need.

Haven't started yet as we have a holiday in September and then a move into our desired area.