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Is buying a house a good idea?

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  • Lauralou79
    Lauralou79 Posts: 268 Forumite
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    I rented In my 20s, went travelling, went out a lot, few big holidays. Basically had a ball. I sorted myself out in my early 30s I paid of my small debts and started saving. I met my lovely partner at 32, We bought a house 6 years later. I'm 39 this year. We have a mortgage of 47% LTV that we aim to pay of within 15 years. We have money to have holidays, save and treat ourselves.

    What I'm getting at is you can do both, I'll be honest I had no plan but I don't regret the experiences I had for one minute. I loved it.

    Maybe you could have a plan your obviously thinking longer term. Life is short and I'm a big believer in it should be about balance. I'm lucky the northwest is cheaper for FTB property.

    It will massively depend on your salary, property prices in your area and your ability to save up in the meantime I'm just putting a different spin on things, you can buy property much later than 27 and still be secure and build for your future.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    buggy_boy wrote: »
    Another useless and irrelevant link brought to you by Crashy.... Ignore this jester he is just a Troll...


    As I said, they don`t want things to change. DYOR. ;)
  • buggy_boy
    buggy_boy Posts: 657 Forumite
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    Crashy_Time wrote: »
    Being an economist you should know the answer already, and also that 4.5k is not going to buy you much house in this bubble. If you didn`t notice already a lot of the advice you will get here comes from people with big mortgages and BTL`s who don`t want interest rates to rise or house prices to drop, so much better to DYOR IMO ;)


    Its all a conspiracy I tell you.... Ignore this fool, 4.5k is a good start, we all have to start somewhere... You could save and make a few sacrifices or you could be like Crashy renting with no hope of ever buying paying out thousands in rent... With the only hope of buying if there is a massive crash so comes on here in some vein hope of thinking if he can get enough people to stop buying then he will create a crash and finally be able to afford a place of his own..... He is the MSE poster boy of why you shouldn't listen to him.
  • John-K_3
    John-K_3 Posts: 681 Forumite
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    Mickygg wrote: »
    Yes a good idea. But only if affordable and not if it means you sit at home eating beans on toast every night using candle light.

    Oh and before a fool called crashy time posts he will say 'absolutely look to buy in 8 years time as house prices will have crashed by at least 90%, IMO' This sort of post is his wet dream to post his utter rubbish on.
    I had to live like that when I bought my first home, and thought it worth it at the time.

    I know that when you are in your twenties that a few frugal years feels like a life sentence, but it really is not. If it lets you have a far better life in your thirties and beyond then most people’s older selves will likely feel thankful for the sacrifice.
  • John-K_3
    John-K_3 Posts: 681 Forumite
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    Crashy_Time wrote: »
    As I said, they don`t want things to change. DYOR. ;)
    Whereas you have been definitively proven wrong.

    You refuse to answer the I portant auestion, don’t you?

    How much will prices need to drop for you to break even? It is over 50% now, I think. Well over.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    John-K wrote: »
    Whereas you have been definitively proven wrong.

    You refuse to answer the I portant auestion, don’t you?

    How much will prices need to drop for you to break even? It is over 50% now, I think. Well over.


    Pardon...?
  • buggy_boy
    buggy_boy Posts: 657 Forumite
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    Crashy_Time wrote: »
    As I said, they don`t want things to change. DYOR. ;)


    Why would I care if one person buys or does not buy, my comment was actually based on his question unlike yours and I said basically you can't have the benefits of home ownership unless you make sacrifices... There are two options unless you have rich parents, save and buy, paying off your mortgage so you own a house or pay rent for the rest of your life...

    Renting can be the better option if you want to move around but its still a good idea to save for a deposit for when you do want to settle down.
  • buggy_boy
    buggy_boy Posts: 657 Forumite
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    Crashy_Time wrote: »
    Pardon...?

    Yeah Ignore the actual question... Come on how much do you need prices to crash to break even, 50%, 100%, 200%...
  • sv722
    sv722 Posts: 26 Forumite
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    John-K wrote: »
    Whereas you have been definitively proven wrong.

    You refuse to answer the I portant auestion, don’t you?

    How much will prices need to drop for you to break even? It is over 50% now, I think. Well over.

    Take this elsewhere. Don't derail my thread.
  • buggy_boy
    buggy_boy Posts: 657 Forumite
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    sv722 wrote: »
    Take this elsewhere. Don't derail my thread.


    Its actually Crashy that derails lots of threads, its what he does...

    What sort of prices are you looking at and how much could you realistically save each year? Set yourself goals..
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