Advice needed please - buying a house - can i afford it?

londongirl

Rabbidgo - i actually resent you casting assumptions on my job or my reasons for doing my job and working for a charity. Yes i enjoy it - and when i spend a good 40 hours a week there thats important to me. I have had jobs in the past where i have hated getting up and going to work and i have finally found something i enjoy and i don't intend to leave without very careful thought. Since you don't know what i do other than work for a charity i am unsure as to how you can assume that it is cosy and untaxing. I deal with complicated problems and irrate people on a daily basis, i have a lot of responsibilty for the level of my position as we are a small department and i have learnt a huge amount in the 2 years that i have been there as both my Bsc and my Msc were not in the field that i actually have ended up in.
I don't need or wish to go into the reasons for me being in my current job or my previous life experiences but i assure you my job can be challenging and stressful at times but ultimately i do enjoy it which is why i am still there and not selling myself out to do a job that i hate for the sake of an extra couple of thousand a year. I came on to ask about my budget as it stands - and have said i have taken on other jobs in order to up my income, so working in a sector or job i don't want to work in just for the sake of owning a house is not where i'm coming from. Thanks anyway.

puddy

london girl are you a social worker?

PasturesNew

Lakey wrote: »

keep listening to clever people like Pastures

ha ha ha ha ha
REALLY bad advice!

Listen to everybody, read everything and come to your own conclusion. Everybody's experience of life is different to another's.
Make your own decisions.

I am just vocal. That doesn't make me knowledgeable.
I give my opinion. That doesn't make me right, just the way I see things.

Lakey wrote: »

take your time to make a decision thats right for you.

This bit's right :0

Did you see the programme earlier tonight, on ITV?

Here, watch it online (nothing to download, no fees, just click and play)
http://www.itv.com/CatchUp/Video/default.html?ViewType=5&Filter=21255

Lakey

In my book you clever....:p

aniahill

londongirl wrote: »

Thanks for these replies - i'm probably not any closer to deciding what i should do - lots of people saying no, and some saying go for it! My heart wants to go for it but my head won't necessarily let me. Its all to do with the ownhome government loan. My head says wait until prices fall but the other part of my head says that if i wait 6 months to a year for prices to fall i still won't be able to afford anythinng because i might have missed out on the government loan by then ( a distinct possibility).

Does anyone else have an income similar to mine and how do you manage if you own your own home? Or even if you rent? I can't actually afford to rent around here - it would be cheaper for me to get this mortgage with the equity loan - probably even after the first 5 years. I don't want to be skint all the time eitehr though - such a huge decision!!

Hi, just a quick one, as I am in a similar place, just a little further along. The funding with Ownhome, once allocated to you is available for 6 months. I don't know what happens after 6 months for example if you can reapply for it, but I assume they do this so you have got a good chance for the sale to go through. I am a few weeks away from hopefully exchanging (when their solicitor gets a move on...). I am very similar to you financially, but luckily live in a slightly cheaper area so I could get a large two bedroom dump which I am going to rennovate, then rent the second room.

I am doing this so that I have my own home, not so much for the £££ I will make on it so I am not bothered about waiting for the massive dip in house prices (although I am aware what MSE stands for so probably why you are here!); whatever you decide, I wish you luck (and patience with solicitors...)!