Buying a House

[IamJen]

We are going to end up in a caravan....

There was this lady who called into our local radio this morning talking about how people had to just work hard, she and her husband bought their house in the 60's.. blah blah blah. The average house price here is £340,000! A half-million dollars! Pacifist or not, I wanted to punch her in the face.

 

[Moll Flanders]

^
Some of the people on Money Saving Expert are like that "We worked hard to get our house, young people today are so entitled with their iPhones blah blah" it's so aggravating! My parents bought a large three bed house in London when they were in their twenties with only my dad working (in an executive job but still not a fantastic salary) and most couples today would struggle even to get a flat there.

 

[AeryFairy]

^
Some of the people on Money Saving Expert are like that "We worked hard to get our house, young people today are so entitled with their iPhones blah blah" it's so aggravating! My parents bought a large three bed house in London when they were in their twenties with only my dad working (in an executive job but still not a fantastic salary) and most couples today would struggle even to get a flat there.

This is so annoying, it's really difficult to buy your first property these days. My dad's first house back in the 70s cost him £18,000 (about double his annual salary). One bedroom, good neighborhood, close to work and the city, expensive-ish area. His deposit was about £2,000. He was 22, wasn't married, and didn't have help from his parents.

We're in a cheap area (t' north), and most liveable houses are 3-4 times our combined annual salary. We're both in our mid-late 20s, and literally the only reason we can afford to do this now is because my husband's parents saved all the rent he paid them while he lived at home and gave it back to him for a house deposit. We work hard, but that has almost nothing to do with being able to buy a house.

 

[Moll Flanders]

It's super annoying isn't it, believe me I have had many, ahem, discussions with people on there about that attitude towards young people. I know my younger brother is in a worse situation than I was at that age as I didn't even have any student loans as I got a grant whereas he is heavily in debt and renting with very little chance of saving up to get a first property. It's no wonder young people are listening to Russell Brand as they have been screwed over and the government just seems to focus on helping pensioners and the people who are already well off.

 

[PTree15]

We have the same problem in the U.S. Granted, I'm older, but even my parents, with one parent working and making maybe $10,000 a year could afford a house, a car and three kids back in the day. I think they paid $8,000 for our first house, a two-bedroom cape. Granted, it was tight, but it was doable. The gap between income and housing/living costs has gotten so huge. I make a decent salary, but I am single and the down payment alone is so scary to think about. I would consider a smaller down payment, but the mandatory mortgage insurance is so costly if you don't put 20 percent of the price down. It's doubly hard when you have only one income.

 

[Moll Flanders]

My parent's first house in London cost £50,000 in the eighties and I remember when my friend bought her first flat in London in 2000 and it cost £50,000. She was scared of taking on that much debt and I didn't want to buy at that time as I couldn't imagine being that much in debt. That seems like a joke now as that would have just been one times our combined salary. Then about 2003 my friend had her flat valued and it was £100,000 and that is when I really started to panic that we hadn't bought earlier. I can't even believe that I had the chance to buy a flat for £50k as that now seems so little money in comparison to today's prices.

Not that I'm bitter or anything.

It's doubly hard when you have only one income.

I think that must be really difficult.

 

[AeryFairy]

Two bookings for this weekend, houses I'm really excited about! Both three-bedroom semis with large kitchens, in a really nice area with good transport links, in our price range. Wheeeeee!

 

[Second Summer]

Remember to check for availability of broadband Internet!

 

[AeryFairy]

Remember to check for availability of broadband Internet!

Already did, it's one of the first things we check we're both internet junkies who work from home, fast and reliable access is a must.

 

[shyvas]

Two bookings for this weekend, houses I'm really excited about! Both three-bedroom semis with large kitchens, in a really nice area with good transport links, in our price range. Wheeeeee!

Do you have any links ? I enjoy watching TV programmes showing property i.e. Escape to the Country, A place in the Sun or Home, Homes for Hammer etc.

 

[AeryFairy]

Do you have any links ? I enjoy watching TV programmes showing property i.e. Escape to the Country, A place in the Sun or Home, Homes for Hammer etc.

I do, but I don't want to post them in case it draws extra attention to them we've already had two viewings cancelled because the houses sold

I'll post the links up if we decide against them, or once everything goes through

 

[shyvas]

I do, but I don't want to post them in case it draws extra attention to them we've already had two viewings cancelled because the houses sold

I'll post the links up if we decide against them, or once everything goes through

I don't people are going to rush and buy the houses because you post the links over here. However you're the boss.

 

[AeryFairy]

I don't people are going to rush and buy the houses because you post the links over here. However you're the boss.

No, neither do I, but you never know

But I was referring more to the fact that property websites track hits to rank property popularity, and a more popular property will be shown to more people. Plus, if a property appears to be particularly popular, it can motivate other buyers into making faster decisions.

 

[AeryFairy]

We have a new frontrunner!

It's a little more than we were planning on spending, but still well within the realms of affordability (we were initially going for a pretty cheap house to get us on the ladder, this one would probably be somewhere we'd stay for longer). And it's SO nice, it's got this huge open plan kitchen/diner/lounge which has been newly refurbished. Can't wait to go see it! Might post up pics if we take some

 

[shyvas]

No, neither do I, but you never know

But I was referring more to the fact that property websites track hits to rank property popularity, and a more popular property will be shown to more people. Plus, if a property appears to be particularly popular, it can motivate other buyers into making faster decisions.

I really don't think that 20 clicks would make that much difference Aery. I'm always looking at property in the South, especially around Kent and keep clicking on tons of links.

We have a new frontrunner!

It's a little more than we were planning on spending, but still well within the realms of affordability (we were initially going for a pretty cheap house to get us on the ladder, this one would probably be somewhere we'd stay for longer). And it's SO nice, it's got this huge open plan kitchen/diner/lounge which has been newly refurbished. Can't wait to go see it! Might post up pics if we take some

Wow, it's a cliffhanger. I can't wait to see the pix.

 

[shyvas]

How could I have forgotten, Location, Location, Location. However, I do like Phil and am not too keen on Kirstie as she is really pushy.

 

[KLS52]

I love watching home buying shows on TV. Property Brothers are my favorite.

 

[shyvas]

I love watching home buying shows on TV. Property Brothers are my favorite.

I've not seen that show. I'm hooked on all our ones and watch several per week.

 

[AeryFairy]

We have a new frontrunner!

It's a little more than we were planning on spending, but still well within the realms of affordability (we were initially going for a pretty cheap house to get us on the ladder, this one would probably be somewhere we'd stay for longer). And it's SO nice, it's got this huge open plan kitchen/diner/lounge which has been newly refurbished. Can't wait to go see it! Might post up pics if we take some

Viewing cancelled, it's been sold

 

[Amy SF]

Viewing cancelled, it's been sold

Sorry about that. I hope you find another nice house you fall in love with and this time be able to bid on it - and get it.

My nephew and his wife listed their condo a couple years ago because they had bid on a house they wanted, but someone else had a better bid and they lost that house. Then the condo sold, and they ended up renting an apartment for a few months until they found another house. It's one of the smallest in a gated community very close to where all four of their parents live, so they have an instant babysitter whenever they need one. And they have another kid on the way. I don't know if they plan to have a third kid, but the house is just the right size for two kids.

Moral of the story: Keep looking. Your dream house is out there somewhere.