The Student Room Group

Buying a house impossible

Why are houses in the south in the U.K. so expensive? I am so depressed that I will never be able to own my own house.

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Save up for a deposit - you could look at 'help to buy' as well.

It's not impossible ...
Original post by Muttley79
Save up for a deposit - you could look at 'help to buy' as well.

It's not impossible ...

I fear that the OP's glass is always at least half empty.
Reply 3
Avatar for j25_8
j25_8
19
Save more aggressively if you aren’t already.

(Stocks & Shares or regular) Lifetime Investment Savings Account with Hargreaves Lansdown (ideal) or AJ Bell

Premium Bonds (basically a saving account)

Absolutely minimise your rent by any means necessary even if it means staying with family

Those are the ones I’ve got off of the top of my head sorry but i could spend some time searching if that helps. Also if you want more depth on any (or all) of these ones, feel free to ask mate
Because people are willing to pay that much.
Original post by mnot
Because people are willing to pay that much.

PRSOM - true but there are no houses cheaper than 200k in my village and that's for a one bed.
Another problem is the amount you can lend - most mortgage providers will let you borrow only 4.5 time your annual salary so if you have a low-paying job you will find it very difficult to save/borrow enough to buy a property.
Original post by Muttley79
PRSOM - true but there are no houses cheaper than 200k in my village and that's for a one bed.

Same round us - comedy prices, really. We couldn't possibly afford to buy round here now, as first time buyers. I feel so sorry for them - I know several 'kids' who were brought up in the village, moved away and now want to come back to raise their own families (having now an appreciation of what they thought was Boring Boring Boring when they were young), but it's completely impossible for them.

The number of second+ homes around here is terrible, frankly.
Original post by Muttley79
PRSOM - true but there are no houses cheaper than 200k in my village and that's for a one bed.

Can't even buy a studio flat for that where I live!
Original post by Reality Check
Same round us - comedy prices, really. We couldn't possibly afford to buy round here now, as first time buyers. I feel so sorry for them - I know several 'kids' who were brought up in the village, moved away and now want to come back to raise their own families (having now an appreciation of what they thought was Boring Boring Boring when they were young), but it's completely impossible for them.

The number of second+ homes around here is terrible, frankly.

Most of the new homes locally are 4 or 5 beds - so totally out of reach for most people. When we did research for the neighbourhood plan, the consensus was the village needed more 2 and 3 bed.
Developers don't want to build them because they can make more profit with larger houses. One plot was allocated for 8 bungalows so people could downsize - they've built four 5 bed luxury houses ...
Original post by ageshallnot
Can't even buy a studio flat for that where I live!

Yep - my friends daughter just bought a tiny one bed flat in London for the same price as a 3 bed here.
Original post by Muttley79
Most of the new homes locally are 4 or 5 beds - so totally out of reach for most people. When we did research for the neighbourhood plan, the consensus was the village needed more 2 and 3 bed.
Developers don't want to build them because they can make more profit with larger houses. One plot was allocated for 8 bungalows so people could downsize - they've built four 5 bed luxury houses ...

Exactly the same here. And whenever a parcel of land comes up, they inevitably squeeze the biggest house they can onto it, rather than build something affordable. There is council housing at the periphery of our village, but that's all privately owned since Right to Buy, and comes up really infrequently. £495,000 for a not-very-nice small 3-bed ex-council house... Utter madness.
Original post by ageshallnot
Can't even buy a studio flat for that where I live!

That's because you're fancy posh :smile:
Original post by Reality Check
That's because you're fancy posh :smile:

But I live on the mean streets! 😁
Original post by ageshallnot
But I live on the mean streets! 😁

These ones?
stucco-victorian-terraced-houses-and-buildings-of-eaton-square-in-A2W0HJ.jpg
Reply 15
Avatar for kazzers
kazzers
3
I have a guide that can help you I've used it several times.

---The guide---
Step 1: Don't be poor
Step 2: Buy a house
Original post by Reality Check
These ones?
stucco-victorian-terraced-houses-and-buildings-of-eaton-square-in-A2W0HJ.jpg

Alas, no.
Original post by Reality Check
These ones?
stucco-victorian-terraced-houses-and-buildings-of-eaton-square-in-A2W0HJ.jpg

Kensington and Chelsea or City of Westminster, I bet.
Original post by Mesopotamian.
Kensington and Chelsea or City of Westminster, I bet.

I think it's Belgravia, but much of a muchness to your suggestions :smile: Lovely, isn't it?
Original post by Reality Check
I think it's Belgravia, but much of a muchness to your suggestions :smile: Lovely, isn't it?

I’m pleased, Victoria and Sloane Square were the first places I thought of (not least because I recently spent 30 minutes walking round in circles at night around the area trying to find the orchestra I was supposed to attend :lol: ).

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