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How the heck do people my age and younger afford to buy houses?! Watch

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    I don't mean to be the nasty guy of TSR, but we have 5% deposit mortgages, if you don't have say 20k of savings by the time you're 30, you're doing something badly wrong.

    Worst case scenario you and your partner pool 10k each, very realistic for most people.
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    (Original post by NX172)

    My first grad job was as a Software Developer, creating and maintaining services for a cloud based retail management system.
    Cool. So you were not fixing bugs or any of that stuff entry level devs seem to be doing. Were you using Java or .NET's C#? Did any of your fellow classmates got a similar job as yours (I know you had been freelancing since you were 16)?
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    Save save save, in order to get on property ladder.

    Live at home, avoid London and south east, houses are generally cheaper up north.

    Also get your prents to cosign or lend money for mortgage.

    Ask your parents to remortgage to get equity on their property out to lend to you to buy a house...
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    Saving up, getting mortgage and help from parents. Depending on where you live, you can get a decent place for 120-150k. You usually need to pay 10% and rest you get from mortgage. So you need to have saved up 12-15k. My sister bought a house with her partner recently, she's 25. My dad took out a loan for her so she'd have enough for the 10% and they have a 20 year mortgage.

    In the end after the huge deposit, it's just like paying rent, except that you own the place and can do whatever you want with it.
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    (Original post by samina_ay)
    Savings and being tight with your money..
    I agree.
    I havent saved up as much as i have by spending it.
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    (Original post by LavenderBlueSky88)
    This week 3 of my Facebook friends have posted the nauseating "finally got my keys" status. They're all between the ages of 24 and 27, I know none of them earn more than £25k and the houses they've bought look pretty decent. How in gods name have they done it? I'll be lucky to be on the property ladder by the time I'm 40 - I have absolutely no savings, very little chance of family inheritance, no rich boyfriend. sigh.*
    - Leg up from parents
    - They have jobs in the first place


    Many people I know here in the north east are struggling to even get a job (months of unemployment, adult children in their 20s all living at home with mum and dad).

    I agree, it is nauseating.
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    (Original post by Gora The Xplorer)
    I don't mean to be the nasty guy of TSR, but we have 5% deposit mortgages, if you don't have say 20k of savings by the time you're 30, you're doing something badly wrong.

    Worst case scenario you and your partner pool 10k each, very realistic for most people.

    Except many people can't even get jobs even with 2.1's in top courses at red bricks and ftse100/250 experience. Then again, people I know in this situation are ethnic minorities.
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    (Original post by James.Carnell)
    Except many people can't even get jobs even with 2.1's in top courses at red bricks and ftse100/250 experience. Then again, people I know in this situation are ethnic minorities.
    I highly doubt that, you could save that much up on 20k per year seriously.
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    (Original post by Gora The Xplorer)
    I highly doubt that, you could save that much up on 20k per year seriously.
    The job market is **** at the moment. Getting a job is a problem.

    When you are an ethnic minority going for a job, the person who is white and has a 3rd class degree in an irrelevant subject gets the job. While you with the 2.1 and all the experience necessary does not.

    In general I am tired of this, I am heavily considering emigrating.
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    (Original post by James.Carnell)
    The job market is **** at the moment. Getting a job is a problem.

    When you are an ethnic minority going for a job, the person who is white and has a 3rd class degree in an irrelevant subject gets the job. While you with the 2.1 and all the experience necessary does not.

    In general I am tired of this, I am heavily considering emigrating.
    This is mostly assumptions...

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    (Original post by James.Carnell)
    The job market is **** at the moment. Getting a job is a problem.

    When you are an ethnic minority going for a job, the person who is white and has a 3rd class degree in an irrelevant subject gets the job. While you with the 2.1 and all the experience necessary does not.

    In general I am tired of this, I am heavily considering emigrating.
    Because obviously employers are going to want to make less profit just to protect White people :rofl:

    :wavey:
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    (Original post by Princepieman)
    This is mostly assumptions...

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    Assumption? The guy had a 3rd class degree and his presentation was on horoscopes. . .
    The other person they employed was a lady who had just got fired from a call centre.

    Come on, this was for a graduate role at a semi-reputable company.
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    (Original post by James.Carnell)
    Assumption? The guy had a 3rd class degree and his presentation was on horoscopes. . .
    The other person they employed was a lady who had just got fired from a call centre.

    Come on, this was for a graduate role at a semi-reputable company.
    Alright then, anecdote with a sample size of 1. Even then, you're probably missing out a lot of variables that went into the decision from your position.

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    (Original post by Princepieman)
    Alright then, anecdote with a sample size of 1. Even then, you're probably missing out a lot of variables that went into the decision from your position.

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    Gaslightinggg.
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    (Original post by James.Carnell)
    Except many people can't even get jobs even with 2.1's in top courses at red bricks and ftse100/250 experience. Then again, people I know in this situation are ethnic minorities.
    This. Where are you considering emigrating to?
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    (Original post by Silver Arrow)
    This. Where are you considering emigrating to?
    Hong Kong, also considering Germany.
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    (Original post by James.Carnell)
    Hong Kong, also considering Germany.
    Which minority ethnic group are you part of?
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    I bought mine when I was around 24. Back then I was saving up each month on a £23K salary until I had enough for a deposit and other fees. Things are much better now though, in terms of finances.
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    What doesn't help are parents, the media and even schools who tell young people you'll never be able to buy a house. Thus they will not save enough money, or won't be saving money for the right things.
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    (Original post by Final Fantasy)
    I bought mine when I was around 24. Back then I was saving up each month on a £23K salary until I had enough for a deposit and other fees. Things are much better now though, in terms of finances.
    How much did you save up each month and how long did it take plus how much was the deposit for your house?
 
 
 
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