The 'We're saving for a deposit' thread

gothrockchic1

We have been away from thread for a month or two. We are back and this payday we are over the £5k mark, which means we are 21% the way there! :j

Chocolatefund

April pay day update for me!

I've been super frugal this month and managed to put away a whopping 1k into the ISA. This now takes my total up to £14k.

Got no birthdays or other major outgoings this may so hopefully I can pack away the same amount next pay day.

I can't wait to hit that 15k mark :-)

tara747

FlyingPasty wrote: »

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...

Hi Sam, and welcome to MSE.

It's your decision whether to buy your dad's house or not, but don't forget to factor in planning permission, conversion costs etc in your sums.

omariqy

Looking to save a deposit of £40k by the end of the year. We have £26k already but will be borrowing £14k from parents whilst we live with them for the next 7 to 10 months. Currently saving £2k per month but we are expecting our first child in September so this will obviously impact on our finances. Luckily a lot of the big items we need to buy we have received as presents so I am hoping I will still be able to save £1,500 per month moving forward. My issue is the longer I delay buying a place the more I am worried prices will increase in the areas I want to buy. I wish I was in a position to buy a few years ago but it always seems what I want is just out of reach!

CocoD

Hi guys. I'm now two-thirds of the way to my original target and super stoked to have gone beyond the 20k mark. Doesn't seem real! This lil forum has definitely helped spark my motivation when it has waned at times and so has helped me get to the stage I am at now - in a chain waiting to complete on a part-buy part-rent property! Over the moon so thank you all xx

Jamie?_2

Hey guys, I'm happy too see your all doing so well! Me and my partner started diposite journey a while back and checked this forum regulary to spur me on, sometimes I thought it was hopeless, sometimes I was a little deppressed, somtimes I was overjoyed, but after the graft me and my partner have put it we have reached our original goal of 20% diposite on a typical 3 bed property in our home town, we ain't high earners by any means,we have been accepted with abby with an awsome fixed rate, and no fees whatsoever witch we are over the moon, with determination all your goals are diffinatly achievable, I wish you all luck and prosperity in the future, rock on too all you money savers and skrimpers. Xx

carguy143

Here's my saving story.

Being 25 years old and living with my parents, two brothers and a sister was getting a little too much for me. The lack or space did my (and possibly their) head in.

Anyway, the family have had numerous static caravans on a certain site for a number of years now and as the site knows us they agreed to let me buy one there. I paid £4000 for the caravan, pay about £1000 a year in rent, £60 gas and about £150 a year for electric. This has allowed me to save £500 a month for the last 3 years so I'm now in a position to buy.

tara747

May update from me!

I saved an amazing £2,692 this month (although £1,200 of that was ISA interest!). Absolutely thrilled with myself, after a slow start to the year

Total saved in 2015 to date: £3,844. Total saved overall: £88,683.

I'm so close to £90,000 now! :beer:

sofarbehind

Yay Tara747, so close to 90k!! Well done.


As predicted an expensive month for me. Loads of driving lessons, a holiday and unexpected £500 bill for course fees. Eeek! I've been really, really careful with my food budget for the rest of the month and done a lot of staying in. I'm really happy that I've managed to save £600 this month. It has been hard.

tara747

sofarbehind wrote: »

Yay Tara747, so close to 90k!! Well done.


As predicted an expensive month for me. Loads of driving lessons, a holiday and unexpected £500 bill for course fees. Eeek! I've been really, really careful with my food budget for the rest of the month and done a lot of staying in. I'm really happy that I've managed to save £600 this month. It has been hard.

Thanks Well done you too - saving £600 with all those expenses to deal with is really impressive.