The 'We're saving for a deposit' thread

*little.squirrel*

excelwizard wrote: »

Plus we love where we're renting and we'd never be able to afford to buy in the area so we're happy to pretend we're rich for now.

I love this! This is pretty much our situation just now. We'd really like to buy a house, but were we are just now it is just far too expensive, and we love where we live. So for just now we are just enjoying it and then when we have enough money we will buy as close by as we can. It's walking distance for both our works and school/preschool for the kids and hopefully we can buy something that doesn't change that too much. It's probably another year until we have enough to buy though.

excelwizard

*little.squirrel* wrote: »

I love this! This is pretty much our situation just now. We'd really like to buy a house, but were we are just now it is just far too expensive, and we love where we live. So for just now we are just enjoying it and then when we have enough money we will buy as close by as we can. It's walking distance for both our works and school/preschool for the kids and hopefully we can buy something that doesn't change that too much. It's probably another year until we have enough to buy though.

It's easy to slate renting but I agree with all the points you've made! Sometimes the lifestyle is definitely worth it :beer:

bopsybunny

Pay day update!
£1209 saved in the month, taking total to £18.9k (£20.7k including Help to Buy ISA bonuses). I've been doing Go Sober For October and so have probably saved a few extra pounds (sterling, and on the scales!)

We're over target now, but can't find any houses we like. :doh: We'll continue to save and just put down a bigger than 10% deposit, or use any extra cash to decorate/but nice new furniture or whatever.

Not in any rush to move, as current rented place is on monthly rolling and convenient for current commutes. Not an area that we are looking to buy in, however. Are people on here generally saving to buy a home nearby to where they already live, or further afield?

tara747

October update!

I managed to save £1,708 this month :beer: That's £10,897 so far in 2018 (well on track) and £132,630 overall

Dizzy_Ditzy

October update from me - a reasonably expensive month for me but still managed to put away just over £300 - this puts me at £2K saved in six months :j

*little.squirrel*

bopsybunny wrote: »

Are people on here generally saving to buy a home nearby to where they already live, or further afield?

We would love to buy where we live but it's entirely unrealistic. Houses are incredibly expensive but also really big. We want to buy something that we can afford to live in and still have plenty of disposable income to a) overpay the mortgage b) live comfortably to go holiday etc

We just had a really nice weekend away and we spent a little bit more than intended, but for the first time in ages I just thought that we can't focus entirely on buying a house and if it takes a little longer than we hoped then that is ok.

Dizzy_Ditzy

I'm looking to buy within 2 miles of where I live now - it's closer to my family, friends, work and everything I know. I just have to patient and believe that the right house will come up at the right time in the right location.

I've got my eye on a development exactly where I want it to be but I'm not entirely sure that shared ownership is what I want. I don't plan on moving again once I've bought. Ideally I want ex-council with a large garden but realistically, what I want and what I get are at completely different ends of the spectrum. Its just me buying although he is moving with me so there will still be two incomes, just one on the mortgage and I don't earn a great deal so I'll just have to see what my options are when the time comes

NicTom80

Hi everyone!

I am a single 38 yr old saving for my first flat.

I have just shy of £73K deposit. It's a lot but for a singleton in an industry that doesn't pay a high salary and in an area where property is expensive it *just about* gets me enough (fingers crossed) I am still researching areas to live etc as I cannot afford where I live and work at the moment, and doing lots of maths and calculations, but I am getting there I think.

Still plodding away with my 3 jobs lol

bopsybunny

*little.squirrel* You've got to enjoy yourself every now and again! It's not necessarily frivolous to enjoy your life. I'd love to buy where I'm from too, but it is too expensive, and I've lived away for 8 years now.

Dizzy Ditzy I look at ex-council houses too as I grew up in one. Trouble is, that was 200 miles away from where I am now looking, and while ex-council houses in my target area are mega cheap, they are cheap for a reason. Such a shame, as you get so much space for your money! We're looking to buy a house big enough for future family plans, so we've ended up saving for longer.

We're looking to buy in the village (or nearby town) where my boyfriend grew up, and where most of his family still live. It's about 20 miles away from our rented house, so it's a bit of a trip to view houses, but not ridiculous.

NicTom80 welcome! That's an amazing deposit. I assume you live in London/South East for that to be a deposit for a flat. Your savings could outright buy 2 small flats in Bradford! (Also cheap for a reason!) Sounds like you have your head screwed on. Good luck with your search

diggingdude

Latest update, only £800 saved this month. Took a hammering having to pay for a few hotels, buying a new suit (though i may save some money now on food as if i eat i won't fit in it ha) etc. Only have one more pay day before Christmas as well . On a positive note I now have £550 in my "buy a big benefits TV without using any of my wages" account so far with more cashback confirmed so that's well on its way.

Last month's total £15171

Current Savings

Lloyds Regular 2.5% - £1750
Halifax Regular 2.5% - £1750
Virgin Regular 2.24% - £1750
LISA Account 1% - £10,271
Ford Money 1.21% - £450 (legal fees)
Target - £20000 April 2019 Total so far £15971