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When do you think you'll be able to buy a house? watch

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    You might be saving already, have some plans, or you might not know at all. Is this something you've thought about? Do you have any idea about when you might be able to afford a house?
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    (Original post by chelseadagg3r)
    You might be saving already, have some plans, or you might not know at all. Is this something you've thought about? Do you have any idea about when you might be able to afford a house?
    Definitely won't be buying a house any time soon as i'm only 18. Ideally, it'd be after I have graduated then live at home for a while whilst working full-time to save enough money.
    I'm currently saving money for the future but just not actively for a house.
    It also depends on if I have a partner by then, if not then my friends and I will probably end up getting a place together.
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    when im in my 30s
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    In 7 years
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    In today's climate, I can only afford it when playing Monopoly. Until my 30s at least.
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    Definitely not until my 30s
    Edit just done the maths, looks very unlikely. At least 30 years of saving on my own, so when I'm around 50 !?
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    87 years and 4 months, till i can realistically save enough for a deposit.

    and that's without the effects of inflation. do the maths.
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    (Original post by chelseadagg3r)
    You might be saving already, have some plans, or you might not know at all. Is this something you've thought about? Do you have any idea about when you might be able to afford a house?
    For me, the big issue is not so much the deposit, but the salary multiplier. I've got a place on a PGCE with a very generous bursary, so I should be able to save 10-15k next year, and add to that in my first few years of teaching. The problem is, even if I have a 20k deposit in a few years, you're usually only able to borrow 3-4x your salary, so I'd only be able to borrow around 100k as a single person.

    Realistically, you need two incomes to buy a house. I do have a boyfriend at the moment, but we're not that long term or serious. Another option might be buying a house with a friend. I know a few people who have done it with a sibling, but I'm an only child.

    As far as I can see, my options to buy on my own would be- somehow find a way to get a huge deposit or move to a fairly undesirable area for a few years to get a foot on the housing ladder.

    I'm very wary of a shared ownership scheme, as any fall in house prices could leave you trapped.
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    (Original post by 1secondsofvamps)
    Definitely won't be buying a house any time soon as i'm only 18. Ideally, it'd be after I have graduated then live at home for a while whilst working full-time to save enough money.
    I'm currently saving money for the future but just not actively for a house.
    It also depends on if I have a partner by then, if not then my friends and I will probably end up getting a place together.
    you seem to be under the impression that your friends won't have partners
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    Some people will not be able to buy a house at all. £0 would be optimistic imo.
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    Two and half years ago.


    Manchester is cheap.
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    We bought our first home on Monday, we re northerners and got a 5% deposit. If it hadn't been for the being two of us I d probably never have bought a home.
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    I'd written off the idea until recently tbh. My partner owns his place though, so maybe one day I'll be the proud part-owner of some deeds... I don't think I'll ever get to fully own anything bigger than a studio, what with having no parental support etc.
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    South=houses expensive
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    Bought our house in the home counties a few years ago. Took about 4 years of saving.
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    (Original post by 999tigger)
    Some people will not be able to buy a house at all. £0 would be optimistic imo.
    People need to adapt then. Little sympathy for those renting in London working minimum wage jobs and complaining they cannot afford to buy in one of the most expensive places on earth.

    Plenty of other minimum wage jobs elsewhere in the country with very affordable housing.
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    (Original post by gr8wizard10)
    you seem to be under the impression that your friends won't have partners
    Lol i never said or implied that.
    I obviously meant if none of us have partners by then, we'd probably end up living together for a while
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    (Original post by Reue)
    People need to adapt then. Little sympathy for those renting in London working minimum wage jobs and complaining they cannot afford to buy in one of the most expensive places on earth.

    Plenty of other minimum wage jobs elsewhere in the country with very affordable housing.
    Correct. I bought my first place at 28 ( and it was a 3 bed semi detached that was only built 3 years previous). I lived in Northern Ireland were you can get some amazing properties for very reasonable prices. If you are making a decision to stay in London, you have to pay the price for that. I know some people have to stay in London (family reasons perhaps), but my brother had recently come back to NI from London as it was too expensive to buy. He had a good look at this place:

    https://www.propertypal.com/14-belfa...01366/photo-18

    He said in London that would probably cost north of 400k easily, which he could never afford. It went for about 40% of that in NI. Sure, there's less to see and do in a place like Belfast vs London, but you have to assess what's most important to you.
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    (Original post by chelseadagg3r)
    You might be saving already, have some plans, or you might not know at all. Is this something you've thought about? Do you have any idea about when you might be able to afford a house?
    Rather just apply for a council house and be on the waiting list for a bunch of years.
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    I'm going to be able to buy a house?
 
 
 
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