The 'We're saving for a deposit' thread

mike5678

First post in this thread. Currently have £28k saved up all my myself since I started work at 16 (I'm 23 now). Still living with my parents which makes it a lot easier, I usually add £1000 per month to savings. I'm fed up of living at home and want to move, found somewhere I like, just not sure if it's the right time to go or not and whether the price is still too inflated. The place is up for £198k, but only has a 76 year lease, so I offered £175k which was rejected. The impression I got is that the offer is not far away from acceptable, but they want more. Going to leave it for a while and make him sweat and hope that no-one else buys it and tell them to get back to me if they change their mind.

mbga9pgf

Good planning mike! Also good to see you are being sensible with the saving. pretty good effort if you ask me, having that cash saved up at 23. Most grads are about that in debt by the time they finish a masters degree.

tara747

My savings are now standing at just under £24k, and I am on track to reach £30k by the end of the year. Woo!!!! :beer:

lostinrates

Seen beautiful house going to auction an a couple of weeks, decent location for us, too, but out of budget on the guide price , and my guess is it will go significantly over . So: no chance!

DH felt, for the first time, a genuine sense of fear about his job. Office politics are never nice: but especially not nice when the industry has been decimated and jobs are as rare as hen's teeth. He does his best to stay out of it, but is in a difficult position ATM: caught between some strong personalities. .

No real change on the savings front, but we have added to our future plans in another way: we potted up some horse chestnuts trees that were sprouting out from under my parents beautifulk tree, and now there are 5 more appeared to pot up. At least we'll have lots of nice trees to plant when we buy!

Nixxx

Why is it that pay day seems so far away? All I can think of is moving my money to my savings account and watching it grow.

I've been doing the following to keep me motivated.
-Play of rightmove
-Read this thread and other savings thread
-Avoided online shopping

Any other tips from anyone else?

Dinah93

JimLad wrote: »

Just started new job and i missed the cut off for this months pay! That means i wont get paid until the end of June! Eeeeek

Know how you feel, my OH just went from weekly to monthly pay, June 30th is a lifetime away, and we're tredding water until then.

Nixxx wrote: »

Why is it that pay day seems so far away? All I can think of is moving my money to my savings account and watching it grow.

I've been doing the following to keep me motivated.
-Play of rightmove
-Read this thread and other savings thread
-Avoided online shopping

Any other tips from anyone else?

I do a payment a day, little and often helps it build up, even if it's only £1.50. I also do the £10 a day challenge, and all money from that goes straight into the house ISA, which means we get to put litteish chunks in throught the month.

EagerLearner

We hit the £30k mark this month but same situation as Mike - nice place but too high, going to wait them out as they're asking way too much, and it's the EA that valued the place(!) - no offers at all in 4 months, you would think they got the picture by now...

Elspeth

I've sold quite a lot on eBay (although that's gone very slow since the free listing for under £1 came in), sold lots of CDs to Music Magpie and been a complete control freak about the food budget. I've booked us (thanks to tip from Martin) a few days in a Travelodge for our holiday this year and already agreed with some family and friends that we'll have a £5 per couple limit on Christmas presents.

We've now saved what we were aiming at for a deposit and are now saving for fees, moving costs and the like (my estimate £6K). We're on target to have this (and perhaps a tiny bit more) by the end of October.

We've checked our accounts with Experian and Equifax and both have errors (and Equifax are being very slow about correcting them). We want this sorted before we go and try for an agreement in principle.

In the meantime, I'm going mad watching houses on Rightmove with property bee. The ones I like and seem good value are going under offer/sold subject to contract (can anyone tell me what's the difference?), the ones that have been on for a year are still at their (very expensive) original price are doing nothing and some sellers have put their prices up this month.

But keep reassuring myself that if there is affordable stuff selling that means prices are stabilising at that price, and that asking prices are not selling prices... I'm also hoping that when we start to view in June/July the Spring Bounce will be over. Have a dream we might be in our new house for Christmas :rolleyes2

Keep it up everyone - just think about how much you'll appreciate it when you can convert that deposit into equity!

purplevamp

I thought I'd post with an update on my savings...

Apart from my wages and the odd amazon payment, nothing much has happened. And I've also noticed that house prices in my area are not coming down, infact I think they're going up .

I've seen (only on the poota) lots of houses I like the look of but there's no point in physically looking until DH finishes his studies and gets a job (about another 2.5 years :eek:).

Oh well, back to dreaming...

lexilex

Hi all, yet another new member here. Been doing a bit of thinking tonight and decided it's time to get saving seriously, and not just putting £50 away when I remember. I finish my degree next Summer and then planning to do a postgraduate teaching course for a year. By the time that's finished (2011) I would like to have the majority of a house deposit saved. I got £2000 compensation this year from a car accident so that's my starting point. It's currently in my normal account so need to get that moved somewhere it can't be touched when I fancy a new dress :rolleyes:

Hoping to save £20,000 between us (me and my boyfriend). We're both living at my mum and dad's at the minute (rent free!) so we're lucky in that respect. My boyfriend is in about a grand of debt to family. He was made redundant last Summer and has only recently started working again so it's just money that's build up from that. I don't work during term time, at the minute anyway, but work full time June - September so hoping to build a little money up there. I'm thinking of getting a part-time job for the next academic year once I've seen what my time-table is like and putting all that money away. The only outgoings we have are phone bills of £30ish pounds a month.

So there's my life story Going to spend a few hours reading through this topic for some tips. I do surveys at the minute, when I can be bothered. Could do with a few other money making ideas.