Turn on thread page Beta

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

    Offline

    11
    ReputationRep:
    I will never be able to afford to buy a house absent a large correction in either the housing market or my personal finances. Nor am I particularly interested in owning one, to be honest. I place a higher value on being able to access interesting and varied work (despite not exactly having any right now) so I would rather rent and be able to move quickly if I found a job elsewhere. Also, I don't plan on having children either so I don't value owning heritable wealth.
    Offline

    19
    ReputationRep:
    (Original post by Langerhan)
    I live in London. It's never going to happen.
    There is life outside London you know! :-)
    Offline

    18
    ReputationRep:
    (Original post by ByEeek)
    There is life outside London you know! :-)
    You have to go pretty far outside of it though to get reasonable house prices. Westwards, too.
    Offline

    20
    ReputationRep:
    Unless I win the lottery, even 30 seems optimistic.
    Online

    20
    ReputationRep:
    Never..
    Offline

    19
    ReputationRep:
    (Original post by TCA2b)
    You have to go pretty far outside of it though to get reasonable house prices. Westwards, too.
    Agreed. And when you leave, you will never want to go back. I find London like Blackpool. Great to visit for one day a year! :-)
    Offline

    18
    ReputationRep:
    Indeed. I liked Kensington an awful lot, but none of the parts of the city which I like are even remotely within my reach, so it's indeed a case of a visit once a year.
    Offline

    2
    ReputationRep:
    I think it depends what you want to be fair , buying a house is the dream but isn't always sensible according to my bro anyway .

    He likes moving about has moved a few times in London jumping jobs (getting more money) so often stays in house shares where he can meet and interact with all sorts of people ( bills are often included by the Landlord).

    Tells me a house would just be like a burden right now wth bills and mortgage to pay ! and he wouldn't be able to go out or on holiday like his mate who is worried he might lose his place or his business might not be successful so is saving up months now.

    Don't know what you think ?
    Offline

    19
    ReputationRep:
    Never. Curent market is ridiculous. Noone can 'say' when they are going to buy a house. You buy a house when you can afford it.
    Posted on the TSR App. Download from Apple or Google Play
    Offline

    7
    ReputationRep:
    Age 35
    Posted on the TSR App. Download from Apple or Google Play
    Offline

    14
    ReputationRep:
    we are doomed to rent all of our lives. DOOMED I TELL YOU
    Offline

    2
    ReputationRep:
    (Original post by Treesha)
    Age 35
    lol that's funny your're absolutely sure now it will be at 35 not 34 or 36 ?
    Offline

    17
    ReputationRep:
    I do not know. But I would love to just buy some land and build a house instead. I doubt it would cost less but it would be way better. (Way more satisfying that you are living in the house you built, sense of achievement.)
    Offline

    18
    ReputationRep:
    (Original post by Last Jedi)
    lol that's funny your're absolutely sure now it will be at 35 not 34 or 36 ?
    35 years 10 days 52 minutes 27 seconds...
    Offline

    22
    ReputationRep:
    Late 30’s or early 40’s
    Posted on the TSR App. Download from Apple or Google Play
    Offline

    20
    ReputationRep:
    I'll just rent, **** it
    Offline

    7
    ReputationRep:
    Yh it is
    Posted on the TSR App. Download from Apple or Google Play
    • Community Assistant
    Offline

    19
    ReputationRep:
    Community Assistant
    In the next year.
    • Section Leader
    • Very Important Poster
    • Peer Support Volunteers
    • Thread Starter
    Offline

    22
    ReputationRep:
    Section Leader
    Very Important Poster
    Peer Support Volunteers
    By the end of uni I'm personally hoping to have saved enough for around 10-15% of a deposit. I'm already a decent way there with savings from before uni. The hard part is earning enough once I've reached a decent deposit amount to get on the ladder. Deposit wise I'll be set a way before 30 assuming I don't have any financial crises or anything, but the job part is going to be the issue
    Offline

    18
    ReputationRep:
    I mean you could get away with a 5% deposit... as long as your credit rating is decent and you're willing to pay the higher rates; you could always weigh up the gains had by a smaller deposit against the higher rates for the fixed period, on the risk that low rates might not persist following its end... but that is not too high a risk given the current political realities driving the BoE. The housing market is difficult to predict because, whilst it was undoubtedly buoyed by a period of easy money/credit (which has not abated), the demand/supply fundamentals are such that housing supply in cities is not increasing in line with demand. So a substantial drop in housing prices to correct for years of easy money might not come soon.

    It's not necessarily a good idea to tie so much of your wealth up into one asset, anyway. I think buying a house is something worth considering when you have already accumulated some wealth in other assets. The only real consideration is how much could you save as opposed to renting (and the flexibility it offers), vs... the cost of the mortgage (including associated opportunity costs), maintenance costs, loss of flexibility and also the fact that although you can in principle rent out a house, it isn't always practical/profitable to do so.
 
 
 

1,181

students online now

800,000+

Exam discussions

Find your exam discussion here

Poll
Should predicted grades be removed from the uni application process

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.