Saving for my first bricks and mortar...

savingwannabe · 6 January 2019 at 5:44PM

Summer69 wrote: »

I'm also trying to save for my first place. I'm late 30's, single, living in Surrey with an average paid job. I've got £74,000 saved so far for my deposit (£50k inheritage and £24k saved by myself) You'd think that would be enough but still not quite to be able to get a decent One Bed flat in an area decent enough for a single female. I'm moving a bit further out & further away from work to be able to afford something and I'm currently working 3 jobs. I hope to be able to get there this year. A few times I've thought I've been close and then house prices have increased, then last year when I was gonna try to start seriously looking we had big changes at work and I was worried about redundancy so I put it on the back burner and you guessed it, prices increased again. I wasn't techicallly made redundant but did have to move to another job in the same company and it was all up in the air. Hoping to be settled soon and try again seriously.
Will still need to borrow money from parents for a bit of furniture but fingers crossed!

Omg your savings are amazing. Maybe Brexit will result in house price falls? Either way with 3 jobs you will succeed I am sure. Good luck Summer69

Summer69 · 8 January 2019 at 12:05AM

savingwannabe wrote: »

Omg your savings are amazing. Maybe Brexit will result in house price falls? Either way with 3 jobs you will succeed I am sure. Good luck Summer69

Thank you so much! Inheritage is obviously a big help but the rest I've saved on my own since January 2014. Very pleased with it. Just hoping I'll have something to show for it before the end of the year

pinknsparkly · 8 January 2019 at 4:12PM

Yeay on maxing out your savings pot already this month Dizzy! And well done for having a plan and a budget for the birthdays - those are the sorts of things that tend to sneak up on me and blow the budget!!

Summer - £74k :eek::eek::eek: That's incredible! But I know how you feel - I also live in the SE with crazy house prices and despite saving up a decent deposit (not nearly as decent as yours though) would still not have been able to buy if I'd been single. Have you considered part ownership? I know they've got a bad rep but I know a couple of singletons who've gone down that route (and it's way better than shacking up with an undesirable and buying together!!). That might put you in a position to be able to buy in a better area? Prices do seem to have stabilised, or even decreasing slightly, round my way though I'm sure that's probably only temporary......

Dizzy_Ditzy · 1 February 2019 at 4:24PM

This months update - another £450 put away, the maximum my accounts will take

This month will be somewhat expensive as I have several birthdays and an impromptu oven purchase for my parents but that was too much of a bargain to not take - it's a range oven which still sells at around £950 which I got for £100 :j it'll cost me to get it picked up and I need to replace either the glass or actual door on one of the ovens but that will only be around £100 ish so it's still a huge bargain :j

We did talk about having a holiday this year but when we looked, the prices of where we wanted to go were obscene so we decided against it for now. We will have "smaller" things to look forward to this year instead. I have Pink in June

and I bought him rugby tickets for his birthday so there's that to look forward to as well :j

Dizzy_Ditzy · 5 March 2019 at 3:21PM

Hello March!

I'm a bit late with this months update but I have broken £4,000 :j :j

A teeny weeny third world problem that I've had to open a THIRD savings account because even with putting the max £450 into my ISA and saving account, I am finding that I still have enough leftover to put some more away

third world problem but it's a nice one to have :rotfl:

I'm really starting to notice the difference that the overtime in work has been making! Averaging 4-5 hours a week, more if it's my parking week. Plus it's my birthday this month so any money I get for my birthday can be put away too

pinknsparkly · 8 March 2019 at 9:01PM

Yeeeeeeaaaaay!! Being *forced* to open another savings account is an awesome "problem" to have - congratulations!! I literally move pennies around sometimes simply to avoid those little leftovers disappearing somewhere other than savings/mortgage overpayments.

Amazing news on the overtime too, every little bit really does add up and surprisingly quickly once the ball starts rolling :beer:

Happy birthday, do make sure you have a good one and spend some of the money on something nice/fun for you rather than saving every penny!

savingwannabe · 10 March 2019 at 11:04AM

Hurray on bargain oven - that's fantastic and well done on savings. It will all add up and you will be rich. Happy Birthday to you, happy birthday to you.....etc:bdaycake:

Dizzy_Ditzy · 30 March 2019 at 10:49AM

Morning!

I managed to put away the max again this month but it will probably be the last time for a while because the overtime at work has stopped :mad:

Anyhoo, I've just done April's transfer and it will leave me at £4,700 :j

Great shame that my savings have fallen so close to £5K for the year but I am so proud that I've got so much!

savingwannabe · 30 March 2019 at 12:01PM

Dizzy, nearly £5k is great!:j:beer::T:j:beer: We are only on month 3. Well done on the overtime hopefully some more come up later in the year.

Hutch100uk · 11 April 2019 at 10:15AM

I just wanted to join and say how amazing I think you are. I am currently saving to buy too. I managed to scrape £3,500 from my last house sale when I split with my partner (surprised I got anything as it was a new-build).
I'm 43 so time not on my side so I'm going to try for a 95% mortgage. My focus it to have at least £7k in total by this time next year (or earlier).
Its not easy as I'm a single mum with 2 kids. On a basic month I can only save £100 but I do get a bonus from work twice a year. I also pay off my car loan in July so there is another £100 saved each month.
I take things to extremes when budgeting. I literally work out exactly how much I need for: diesel, food shopping, kids activities etc and I withdraw the cash and put it into individual envelopes. That way I can see exactly what I am spending. I try not to use my debit card at all.
Its working well so far.

Saving for my first bricks and mortar...

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