What are the realistic chances of you buying your own house

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richard10012
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I am on a low wage, cannot afford to save a lot for a deposit. I was thinking about going up north but now with Hs/ hs2 being built, properties prices will go up and Birmingham and Manchester will become the extended commuter belt of London.
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Stiff Little Fingers
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I've long given up on that. Barring the bottom falling out the housing market, affording a deposit in anywhere with half decent prospects isn't happening - particularly while the high speed projects try to turn anything South of Sheffield into the commuter belt.
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Burton Bridge
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Home ownership shouldn't be the goal for society, providing good quality homes for all without the fear if homeless in the event of illness should be our goal.

Supply and demand housing doesn't work, its made me allot of money but that still doesn't change the fact it doesn't work.
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illegaltobepoor
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(Original post by richard10012)
I am on a low wage, cannot afford to save a lot for a deposit. I was thinking about going up north but now with Hs/ hs2 being built, properties prices will go up and Birmingham and Manchester will become the extended commuter belt of London.
I wouldn't rely on property speculation for the house you are living in because if you make it your sole investment you are letting other opportunities pass you by. You also need to consider that we are in a depression, not a recession. Even if HS rail increases property prices the job losses over the next few years will push the property prices down, especially in affluent areas.

You want to look for a cheap area to live like in the North East, Grimsby, South Wales, Burnley, Doncaster or Liverpool.
Choose the cheapest house possible instead of an expensive house. This is the mistake I made. I brought a house 4 times my salary level. I should of brought a house 1.5 times my salary and it would of been paid off in 2 years. I'm still paying my mortgage now on a fixed interest rate for the next 7 years.

A house perpetually costs you money. It doesn't change even if you own one.

Once you have a house you will have free cash to spend in other areas such as investments in Cryptocurrency, Mining Stocks and Peer to Peer lending. Investing in property right now is a bad idea unless you have a game changing technology that can create jobs out of thin air.
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Burton Bridge
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Another thing to consider guys is you can never make real tangible money on the house you live in anyway, to make money you need two.
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Napp
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I believe the technical term is 'lol'
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