The 'We're saving for a deposit' thread

Just_be_2

So what do we think of the 'help to buy ISA' which was announced in the budget?

J_i_m

Too little too late really.

I have my deposit put together now, I'm now saving for fees.

However if my fear of being priced out of the market is realised then I think it still won't help very much as prices will still rise faster and further than my savings pot.

I think you can only deposit £200 per month into this ISA anyway, so effectively it's just a relatively competitive regular saver.

Every little bit helps, but it's not tackling the real problem, which is the housing shortage and a lack of building leading to higher prices.

J_i_m

I've behaved myself slightly more this month and managed to hit my basic monthly target of £625 (+ £19.99 interest on the ISA).

It brings my current running total to a smidgen under £22'800. I'm certainly feeling positive about being over 90% towards my target instead of under 10%

I'm bang on target to hit my target in July. I could probably manage to in June... but I have a few things I need to sort for my holiday so will be taking a couple hundred quid to do that across the next few months.

FlacosFloozie

Good going J i m, exciting times ahead


I'm not sure what to make of the help to buy isa. It feels like a massive bribe to vote tory.... however, if they're offering it would be daft not to take it. I'm not sure it will make a massive difference in our time frame, and I think its possible our budget will need to rise over the cutoff.


We're a little over 8k now so ticking along nicely, but I made the mistake of looking at rightmove and prices round here seem to be rising scarily fast. I live in hope that its just new properties coming onto the market for spring and that they'll drop in a month or two but I don't know....


Why wasn't I sensible enough to do this years ago

tara747

Late March update!!

March was very expensive for me (for several reasons), so I'm declaring -£238 for the month, which makes my year to date total £248 and my overall total £85,087.

I've been stuck around £85,000 for several months now, and feeling a bit despondent as I've had so many expenses lately. I sometimes wonder if I'll even make it to £90,000 by the end of the year! But let's be positive

Also, I've seen a house that I love (and could comfortably afford), but it's close to being sale agreed

eviekins

Don't feel despondent Tara! You've done SO well!!

Sometimes its easy to forget that its actually real money that you've managed to save (and not just a figure that's grown over the years on your computer screen.)
Sending you a big virtual pat on the back misses! Keep up the hard work
-
P.s I was going to say something along the lines of, don't worry, there's plenty more lovely houses out there, but that would be ironic seeing as I know all too well how crap it is out there. I get so irritated looking on rightmove at how little you get for SO much money!! It's pretty much my daily rant.
Anyway, I'm sorry to hear about you missing out on a house that you love and I really hope something similar pops up soon!

Hope everyone has a great weekend!

Evie x

phyllisellen

So glad I found this thread!
I have just got on my feet from a 'grumpy' divorce and am determined to get back into my own home and not concede to renting forever.
I'm challenging myself to save £20,000 by May 2017!
So I'm starting from 6 April 2015 and have explained the reason behind our
very frugal life style to three teenagers with mixed responses!
So fed up with renting and now in third year of it!
How inspiring reading back on this thread has been.

sofarbehind

I've reached my original target of 24k but have decided to push on and aim for 30k as everything is slow and I'm being very disciplined about saving. I put in an above asking price offer on a place I loved this week but someone else outbid me. This is very rare for the area I'm in and probably because not many houses are coming up for sale.


I'm doing this on my own, single and no parental support of any form. I'm feeling really disheartened and sorry for myself. Also angry with myself for being stupid when I was younger and not saving. I really hate the shared place I'm living in at the moment, which doesn't help. It feels like no matter what I do I can't compete with couples and those with family backing. I know I'm being pathetic but I had a bit of a cry earlier. I probably need a good kick up the !!!!.


I am jealous of those with gifted deposits and I really hate myself for being so nasty. Kick me someone!

seasideme

So how does a single income afford a place for £150k ?!

So far no deposit as paying off debts but would like a place before I'm 40 (5 years time) should be on £25k by then.

How does shared ownership work? Do u only get to go for a 1 bed of you are single/couple with no kids? Do they dictate what you can and can't do etc?

Chrisuk78

sofarbehind wrote: »

I've reached my original target of 24k but have decided to push on and aim for 30k as everything is slow and I'm being very disciplined about saving. I put in an above asking price offer on a place I loved this week but someone else outbid me. This is very rare for the area I'm in and probably because not many houses are coming up for sale.


I'm doing this on my own, single and no parental support of any form. I'm feeling really disheartened and sorry for myself. Also angry with myself for being stupid when I was younger and not saving. I really hate the shared place I'm living in at the moment, which doesn't help. It feels like no matter what I do I can't compete with couples and those with family backing. I know I'm being pathetic but I had a bit of a cry earlier. I probably need a good kick up the !!!!.


I am jealous of those with gifted deposits and I really hate myself for being so nasty. Kick me someone!

I'm in exactly the same boat as you and also feeling very disheartened with it all. I have struggled to raise a similar deposit as you on my own, but feel like it's still not enough especially as it seems prices in my area have recently shot up (maybe due to lack of properties?) I'm trying to stay positive but it's not easy.

I'm hoping that now the weather has changed more properties are gng to come to market.

I have to keep telling my self that £30k is a lot of money, but just doesn't feel like at the moment

I hope it works out for (and for me)