The 'We're saving for a deposit' thread

Riq

Had to buy some new football boots yesterday so that was £80 down, but made a few hundred on matched betting this week so I worked especially hard at it this weekend.

JimLad

happytails wrote: »

Well update as i have disappeared for a while we have £5k saved now and 50% towards our target. BUT fell in love with a house we viewed on Sat (didnt expect it to be so perfect otherwise wouldnt have gone), it has everything we need for a LONG time, plenty of space and we would be able to live in it without having to do major works - it needs damp-proofing though. Anyways, its £129,950 - the lady said she would take £120k which probably means 110-115k but do you think 100k is too cheeky? That is all we can afford really - maybe £105k at a push. We are on £25k annual and not sure we can get more than 90k mortgage - We are young so dont mind an initial lengthy mortgage term. Its only been on the market for 3 months, hoping it will still be there come christmas

Anyone know the average time a property is on the market before it sells? x

Go for it, offer her 100k. Doesnt stop you submitting a higher bid in the future!

Jinky67_2

I made about £200 from MB this month...that went into the personal fund.

Another £500 into the Joint house deposit account i share with my OH.

BUT

MOT expires - 31st May
Tax expires - 31st May
Need new front brakes & pads \ rear brakes & pads \ fog light bulb
Season ticket renewal forms for 2009\10 footie season is in
Holiday needs paid off for June

I suppose this is exactly the reason why I try keep an optimal balance of £3000 in my personal fund. Only got £2561.88 in there just now so that will take a nose-dive this month....will need to work hard this month to build it back up before the next big expenditure - car insurance - while trying to keep putting putting cash in the joint account.

Its going to be a tough month :rolleyes2

purplevamp

It's been a while since I last updated on here, but that's probably because nothing's been happening. It's felt like an uphill struggle these last couple of months trying to save anything. I'm still putting in 25% of my wages, and have sold a few bits on amazon and ebay. I've just requested £40 from a survey site. I had to find £104 extra this month to pay a shortfall in my council tax, which they only told me about on my new bill and gave me until the end of April to pay it, as well as the £145 for the new month :mad:. Also the TV blew up so we got that repaired for £70, much cheaper than a new telly. What with various birthdays and weddings this year the savings have dried up.

Still at only 8% of total deposit...

homehunter

FTBs, up to £28.5k total, obviously some of that needs to go on fees etc and most likely initial works on whatever we buy - definitely don't want/expect anything perfect but we are looking for something we can stay in for quite a while, so really good semi or detached. Given where we live has had big price drops in this recession, I don't think it is too unrealistic, though some of the agents round here still seem to be in cloud cuckoo land :rolleyes:

We're able to save at least £1k a month right now, by no means rich or anything, but we don't run a car which really helps. Though it does limit your search area considerably. Swings and roundabouts I guess....

countrygirl27

Hello!
Im jogging along nicely with my saving. The house prices here (Kent) dont appear to have dropped massively. anyway thinking of tottering along to a mortgage advisor in the summer, but dont want to get laughed out the office. Here's my info-
NO DEBT.
£17 K saved so far.
£24,500 salary
single - so only me applying (and paying!)
aged 25.

Looking to buy in Kent around the £130-160K mark.
But am hoping to have saved closer to my target when I actually buy.

Do you think I will be laughed out the office?

JimLad

countrygirl27 wrote: »

Hello!
Im jogging along nicely with my saving. The house prices here (Kent) dont appear to have dropped massively. anyway thinking of tottering along to a mortgage advisor in the summer, but dont want to get laughed out the office. Here's my info-
NO DEBT.
£17 K saved so far.
£24,500 salary
single - so only me applying (and paying!)
aged 25.

Looking to buy in Kent around the £130-160K mark.
But am hoping to have saved closer to my target when I actually buy.

Do you think I will be laughed out the office?

Definately not. You have a good job and an excellent deposit.

Nixxx

I know this is a "how long is a piece of string" question, but, how much are people saving towards fees etc? I'm hoping to buy a £200k house and was thinking of saving an extra £5k for fees. Is this realistic? Of course i know it depends on a lot of variables but I would still like a know a rough estimate.

What are your thoughts?

thanks in advance

1stTimer

ok so was planning on a no spend month A: because it would be interesting to see exactly how much of my wages go on pub lunches etc and B: i wanted an idea of how much i could possibly save.

Good news is, although i've had a few pub lunches i haven't put my hand in my pocket once:beer: however car tax is due end of month and just had to replace two front tyres. still managed to save £600 so far, whatever i have left at end of month (if i have anything) will also go in pot. really really wish i could win the lottery lol:o

butterfly72

Nixxx wrote: »

I know this is a "how long is a piece of string" question, but, how much are people saving towards fees etc? I'm hoping to buy a £200k house and was thinking of saving an extra £5k for fees. Is this realistic? Of course i know it depends on a lot of variables but I would still like a know a rough estimate.

What are your thoughts?

thanks in advance

We managed to hit our deposit target and now have a new target of £15,000. This should cover fees, moving costs, changing locks, rent (incase there is an overlap) and hopefully some left over for a few items for the new house! Best be prepared. And also remember you need an emergency fund too... 6 months salary if poss.