The 'We're saving for a deposit' thread

purplevamp

Hi Scorpio18, :hello:

My DH and I looked at Open Market Homebuy a couple of years ago, but were told on what we earned and our deposit we would have to look at property worth £119K, and down South they were non-existent!! But now our circumstances have changed and I'm the only one working, so we'd NEVER get anything. We're just saving what we can until DH finishes his studies and (hopefully) gets a job .

I too was a single mum for 9 years, before I met my DH and had 2 more [STRIKE]monkies[/STRIKE] children. I think it's great that you can get out of debt AND save on just your income :T . I barely had enough for groceries, well done.

We wish you all the best in your saving and come back often to let us know how you're getting on. :A

[Deleted User]

Another £12.50 from my babysitting tonight so my total is up to £83.35 not even 1% of my saving target but its fun watching every penny going in.

Next week is my first payday being debt free and I have a meeting at the bank friday morning to open a savings account to put my £400 a month into. I am thinking about the halifax monthy saver at a 5% fixed rate, then in a years time transfering £3600 into an ISA for 09/10 and the rest into my A&L esaver. These accounts I am not going to take any money out of until the day comes when I go to buy a house.

VickyA_2

I have paid in £20 worth of 20p coins that I collect. :beer: My mantra at the moment is "it's better than nothing"!

Whilst I was with my parents, I met up with a family friend who is a chartered surveyor within an estate agency. He reminded me that I needed at least a 20% deposit (I KNOW!) and that the time to buy will be within the next year..... (and I won't be buying in his area anyway, so it's not like he wanted my business!) If only I could just magic the rest of the deposit from thin air, then at least it could be earning (pennies) of interest.

^!£$&

Sold some stuff on Ebay in the last fortnight and the Paypal money cleared in my account yesterday so another £75 for me!!

lostinrates

At the end of the month DH gets a small payrise ...yippeee! its £5k for the year Its, boringly going to be saved, apart from a small amount with which we are buying, of all things, a particular jug and glasses which we have wanted for ages and will one day contain lovely Pimms in a lovely garden....we hope Sounds like a weird purchase, and not very money saving, as its a big price for a humble item, but its a beautiful work of art that will remind us of something very dear to us. Only hestation is how many glasses to buy. I'm going for twelve and gritting my teeth if someone breaks one, dh thinks we should get 15...so that we have spares.

Jinky67_2

joining the thread :T

£2010 saved so far...........looking for at least £8k

Bone_Idle

I have a small confession to make - although we've not quite hit our deposit target, the OH and I have been looking at houses the last couple of weekends and mulling over whether or not to put in an offer on one we like. If we can get a decent chunk off the asking price (15%) then we might well go for it - it's somewhere we can see ourselves living in for 20 years plus so the negative equity worries *should* be minimised. But we can't afford the asking price so if the owner says no, we'll just have to walk away!

lostinrates

Bone_Idle wrote: »

I have a small confession to make - although we've not quite hit our deposit target, the OH and I have been looking at houses the last couple of weekends and mulling over whether or not to put in an offer on one we like. If we can get a decent chunk off the asking price (15%) then we might well go for it - it's somewhere we can see ourselves living in for 20 years plus so the negative equity worries *should* be minimised. But we can't afford the asking price so if the owner says no, we'll just have to walk away!

Well, you seem to have the right attitude. Personally, though we are very seriously looking, I don't think we are too close to the bottom of the 'dip', and of course when interest rates go up again things could be 'tight', so to over stretch wouldn't be wise. But go within your affordability, take a payment protection scheme...none of us can guarantee employment ATM, and its worth it for the right house, IMO.

smartcat04

Payday today. Managed to transfer the grand sum of £784 into the savings. Its a combination of overtime and money I managed not to spend last month.
My target is £10k to start with and then see what happens.
I'm 28, live at home with parents but pay board,run a car and am paying off a loan from a few years ago. Saving up for a 2 bed terrace hopefully. Been giving myself a set amount per week to spend and not using my debit card. Have found that only being able to spend the money in my purse at that time has realy helped me decide whether I really need things or not. Taking packed lunches has also saved at least £5 a day in the canteen at work.

Zelie

I don't post here much really but I do like to keep track of my progress. Currently have the grand ole sum of £20k which is just under 14% of what I want to spend. I know it's not much compared to some but it's pretty good for me. Still a way to go yet though!