The 'We're saving for a deposit' thread

Doglover

happytails wrote: »

Just want to clarify - i have 50% of my target deposit saved now, not 50% of expected house price. Sorry should have been more clear.

Sarah x

That's brill!! Well done. I'd be hunting around already and it will certainly help to know how long the properties you view have been on the market when you offer. Happy house hunting!

foi1983

Hello everyone,

My husband and I would like to start saving for a 15 - 20% deposit on a house of 250k.

Our joint net income is 4k and we are currently paying off a loan which we should of finished paying off by the end of June 2009.

We currently rent a 2 bed for 1150 per month as hubby works from home but I am thinking that we should seriously downsize to save as much money as possible. Any ideas?

We have lived with parents before and will not be doing that again. Maybe we can rent 2 double rooms in a house?

Has any one on MSE done this - moved into shared accomodation with your OH to save?

butterfly72

foi1983 wrote: »

Hello everyone,

We currently rent a 2 bed for 1150 per month as hubby works from home but I am thinking that we should seriously downsize to save as much money as possible. Any ideas?

We have lived with parents before and will not be doing that again. Maybe we can rent 2 double rooms in a house?

Has any one on MSE done this - moved into shared accomodation with your OH to save?

We downsized a couple of years ago to save money. We went from a lovely 2 bed cottage by the thames at £1000 to a 2 bed flat in a small block at £825.. now 875. Its was definately worth it.. rent wise, heating bills, council tax and transport costs. We couldn't have shared.. not at our ages and going back to a flat was also difficult but we'#ve managed. In fact the flat is really nice and a brilliant price for its great location. We got really lucky! I feel we are starting to out grow it a bit now and am dreaming of a house again but this won't be until we buy!

Regarding the sharing... you also have to think about quality of life as well as the money. you could easily downsize from 1150.(depending where you live I guess!)

happytails

Made £14.50 selling some old things today and trying to get a buggy off freecycle for summer so i dont have to buy one, just want something basic and light for the few nice months we get in the uk lol

I cant wait for the day we get the keys to our future home - getting excited thinking about it - me and dp have decided we are going to treat ourselves to a take away curry the night we move in i know what i am going to order :rolleyes: - how sad!

to everyone on this thread : im so proud of us all saving away and trying, not everyone gets given thousands of pounds to put away for something special and we will really really appreciate every inch of our future homes and im sure we will do everything we can to get this mortgage paid off asap - big pat on the back folks :T

Sarah xx

piggeh

Well, after being a few months unemployed I have decided to move back to where I used to live as I have a lot of close mates up that way and a job came up as well. However it means I'm now housesharing and my £500 per month savings are now largely going on rent!

I work it out I can save maybe £100 a month, although I still have my car, which could maybe net me an extra £1k a year plus a few thousand when I sell it - not sure I want to go down that route though, as it will be handy to keep. I would still need a lot more to be able to afford a deposit!

Once I'm settled, I might look at other ways to raise some money - maybe a second job, or doing something on ebay, get a different job etc (my job is only temporary).

JimLad

Well it was payday on thursday, and even though my direct debits havent gone out yet ...i know what they will be so will count them in my update

Savings for this month:

£500 into my Halifax regular saver
£300 in to my Abbey esaver

Bringing my grand total so far to £9550! Im almost half way to my target!

Im still waiting on my abbey ISA to transfer to my new halifax fixed isa. Does anyone know if i can fill my halifax isa with this uyears allowance before the transfer of previous years has happened?

sugarpants_2

Hi Im new to this thread. Just paid off all our debts with inheritence from my late nan.

We private rent (we have 2 kids) and really want to buy our own house after 6 years of renting.

We can save £500 per month if we budget. Anyone give me some advice? We are planning to throw it into our natwest savings account each month. Would that be right?

JimLad

sugarpants wrote: »

We can save £500 per month if we budget. Anyone give me some advice? We are planning to throw it into our natwest savings account each month. Would that be right?

Remember to use your ISA allowance. You should prolly save into the highest paying ISA until you have put your 3600 in, then move onto to a regular savers account

sugarpants_2

What are ISAs? How do I get one? Can I take my momey out instantly?

JimLad wrote: »

Remember to use your ISA allowance. You should prolly save into the highest paying ISA until you have put your 3600 in, then move onto to a regular savers account

JimLad

sugarpants wrote: »

What are ISAs? How do I get one? Can I take my momey out instantly?

http://www.moneysavingexpert.com/savings/best-cash-isa