First Time Buyer Dilemma

gonsdad wrote: »

Lol...I wonder who paid for your deposit?

No parents by 16.

Stared homelessness in the face through late teens and early 20s.

Fought tooth and nail in !!!!!! jobs in call centres and bars just to stay afloat.

Eventually managed to win a place at a top ranking university.

Now have a secure and well-paid marketing career at a big company, doing what I want to do.

I'm still clawing back debts and the like I accrued during the bad days, but in the past few years I've travelled most of the world and will likely have my first (modest) home within a year or so.

So yes, while there is resentment towards those who have lived the silver spoon life, there is in no way an inferiority complex from my end, as I know that given my upbringing I've achieved far more than some toothy trustafarian living off their parents' generosity.

So that gives you the right to be rude and resentful towards people does it?

As I said earlier if you cant be polite to the posters in these forums then please take your comments elsewhere.


Many of the regular posters don't always agree with eachother here but it remains friendly and grudges do not resurface.

I wont be commenting again to you on this thread,you've taken up too much space already.

Take it to a PM if you have issue!

Lazaros123 wrote: »

@hazyjo thank you so much for your view. Much appreciated. Interesting view - do younot think getting a tenant in while overpaying would be more financially worthwhile? Very good advice on a nanny - sadly we know this is what we!!!8217;ll have to do realistically because of our long hours - so expensive in London though which is worrying.

I think your wants and desires will change drastically if/when you have kids. That may be before you ever occupy the flat. I bet once you have them, you'll think the flat completely unsuitable and want to sell it anyway. I also think you're underestimating the difference "a few years" makes at your age. I'm 48 and moved 8 times. I know lol. And the years go SO quickly! When you say "a few years" it often turns into 5+!

Every time I've moved, I've pretty much maxed out (and crossed fingers), then within 2-6 years the next mortgage has been for considerably more and I look back and wondered what the hell I was worrying about. And a few were in recessions and I lost money, but it enabled to me to buy what would otherwise have been unaffordable. Granted, it's not for everyone, but I'm just trying to say that what seems affordable or even a stretch now will seem like nothing in say 4 years' time. Especially on your salaries/bonuses! I often did that on my own on a salary of £20k or £30k odd (even less in the early days!). Now only have a very small mortgage and live in a lovely area.

I love anything property related, yet I know the hassles involved with being a landlord and have absolutely no desire to ever go down that road. Check out G_M's comprehensive list/post: https://forums.moneysavingexpert.com/showpost.php?p=67759929&postcount=7

With stressful jobs and long hours, and maybe babies thrown into the mix, I would not want to be getting into the landlord business. You may try it and be lucky! (Presuming they bend to give you as FTBs a BTL mortgage!)

Given that things are fairly static, I'd prob save like mad and buy a house slightly further out in a couple of years in your shoes. You should have at least another £150k to add.

(Know you're not daft and not trying to patronise, but please also don't presume kids will come along when you want them. This gives an idea of how much fertility drops at 40 (and over) https://www.verywellfamily.com/what-are-the-chances-of-getting-pregnant-after-40-1960287 Add in a miscarriage or two (much higher odds every year) and you can get to mid-40s in the blink of an eye. Only saying it as I've had a couple of friends go through IVF (one now with two donor babies) and a few (including me) missing out completely.)