The 'We're saving for a deposit' thread

sofarbehind

Chrisuk78 wrote: »

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 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)

Thanks Chrisuk78


I'm sorry you're in the same position as me but it's good to know I'm not alone. I feel like I'm a bitter, frustrated saver some days! It's true that prices are going up and hardly anything is coming up for sale. I am being ruthless and saving every penny at the moment so I'm struggling to keep my spirits up. It will be worth it and we will get there! I'm trying to think that the delay just means I will have more equity and better financial habits when I do buy. 30k IS a lot of money and saving it on your own is a massive achievement so you must give yourself a lot of credit for it.:T Let us know how you get on and if you need to vent I'm your woman

J_i_m

seasideme wrote: »

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?

£150?!

I'm petrified that I'm going to priced out as my budget is unlikely to exceed just £100k.

seasideme

J_i_m wrote: »

£150?!

I'm petrified that I'm going to priced out as my budget is unlikely to exceed just £100k.

The cheapest flat at present around us is £120k. If I lived near my parents a house would only be £70k is

Chocolatefund

Hey all,

I've been a long time lurker in these forums and decided to share the experience!

A bit about me. I've been saving for the last...year and something, (honestly can't remember when I started XD) I'm at that point now where I want to get my foot on the property ladder and have a place to call my own.

I'm in a fairly good position monthly saving wise as I'm employed in the Armed Forces, so we only pay a token toward accommodation. This has enabled me to start being good and save a fair bit. I'm currently sitting at 13K and hoping to buy later this year on my own.

Flats around where I'd like to buy start at around 100k mark for a 1 bed. So I'm aiming for around 17k + with fees and all.

It's good to see other singletons saving up for a place on their own too!

£150?!

I'm petrified that I'm going to priced out as my budget is unlikely to exceed just £100k.
Originally posted by J i m

I know the feeling! How to people do it in places like London!

charliewocka

I'll stick my head in here too. Have gotten finances in order (as in no debt) and realised that if I want to plan for the future I need to save. I'm ridiculously low savings, £1400 today, but I've only been saving for just over a month so it's a start and I want to keep the mindset 'this is my future'.


I would love to be able to get on the property ladder. I'm paying £1395 a month in rent (SE England) and have looked to moving further out. I have found places that are up to £300 cheaper per month, but then the council tax is about £90 a month more expensive and the additional fuel, wear and tear and time just don't give me a saving. It's a horrible situation to be in and I get very upset about it. But I could be in a much much worse situation I guess.


My BF is considering selling his house and buying a property that is due to come on the market. It's a massive stretch for him but the property is sentimental and close to family. Not sure if we would consider going in together as we are only going out 7 or 8 months but it's making me very jealous knowing he has £200k equity and I have asked him not to talk about it in front of me because it highlights the cruddy position I feel I'm in.


But it's a start - and I think that as my savings grow I will become more determined to do this.

Piggywiggy

Hello!

I'm two thirds of the way there with £10000 on my share of the deposit with my partner, looking to have £30000 together and buy at the end of this year or beginning of next. Dreading the buying process though and to get the sort of house we want out here it's going to be well in excess of £150000 so big mortgage but it will all be worth it to have a place of our own

MandM90

Hi there :j

I'm 24, OH is 23 and DD makes three!

We're currently paying £1000pcm in rent and trying to save hard so we can get a place of our own. Unfortunately OH is partially sighted so will never drive, so it must have good links. We love gardening, so that's a priority, are planning to have another baby in 5 years and an office/workspace would be a bonus. In this area we're probably looking at £270k for a fixer upper, or £300k+ for something ready to go :eek:

We're looking to start viewing properties in July (end of my tax year) which means we need to tighten our belts and save hard

J_i_m

Well what a naff month.

First my employer very kindly decided not to pay me my salary which resulted in my being overdrawn to the tune of £800+ and having to move money around to fix it.

I eventually got paid 60% of my pay, but will only get the rest of it next month.

With a few other things to sort out it means that I only put £180 into the pot this month, plus the £20 interest on the ISA and £90 on the regular saver which has now matured.

I'm past £23k now though, so only £2k to go, and still on schedule for July/August.

tara747

My April update!

I saved £904 in April, which brings my year to date total to £1,152 and my overall total to £85,991. I'm going soooo slowly this year, but I'm hoping for more progress in the next few months!

Well done everyone, keep up the good work

FlyingPasty

Hi all,

I'm Sam and I've been saving for just over 2 years now.

My target is around £18,000, £15,000 for deposit and £3,000+ for fees etc and i was hoping to buy a property of up to £150k.

I was hoping to get a place before by 30th birthday - which was at the end of March but I wanted to clear my credit card before I looked at getting a mortgage and that just wasn't going to happen by then!

I was saving £550 a month but I'd decided i wanted to slow down on the saving this year and buy myself a car which would last me a few years - which I've now done. However, I've been speaking to my dad who owns a 4 bed property (which was previously a 2 bed but he extended) and because he has an interest only mortgage which ends in 2016 he's suggested I buy his house from him and we convert it to 2, 2 bed properties and sell one and split the money...