Buying a house after graduation

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avocado25
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Hi I'm in First year of my degree and I plan on getting my own place once I've graduated.

What steps should I take over the years before graduation for this to become a success?
I've already started saving on my current account.
I'm open to different suggestions, ideas, to make this a reality.
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Emily_B
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1. Get a job lined up for after you finish. This will determine where you buy a house - a mix of you don't want to be limited geographically to where you work because of commuting and you'll need to be able to prove you have funds/get a mortgage.
2. Set up a savings account, don't just save up in your current account - easier to keep putting money away over the next few years.
3. Have a look at house prices in different places. Currently, depending on where you buy, a 2 bed terrace or flat can average of £65,000 in some areas... or £160,000 in popular areas... or £900,000+ in London... So having reasonable savings for a deposit and an income to pay back a mortgage is a good idea.
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Jack22031994
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Save as much as you can for a deposit. And remember lenders tend to lend at around 4.5 x salary at the moment so go on that basis of how much you may need to earn.
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tinygirl96
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This is a list of tips for house buying:

A- Make sure to have a complete full house inspection survey done. Get a copy of the report afterwards as well. Make sure that you understand everything which is also written on the report too. Discuss anything from the inspection report that puzzles you still with your estate agent. Ask questions to confirm your understanding.

B- Find a good local qualified estate agent as soon as possible. Interview a few different local estate agents and also it is a good idea to check out their company websites, you can find much more information on there. Talk to some other residents who have recently sold their houses or apartments, they might be able to assist you in the process. Make a list of questions to ask. Research is key here.

C- Take down some brief quick notes on a piece of paper etc for future reference in case. Do your research carefully in advance and also do not forego any part of the preparation process. Obtain several quotes in advance and then compare them one by one in terms of price and so on. Read any legal documents properly first to check understanding and always request to see a copy of any formal important paperwork regarding the house sale. Check for any grammar or spelling mistakes.

D- Gather all essential house details carefully. Use a plain black folder for ease or store your notes on your laptop instead for reference. Alternatively you can keep every bit of essential information in a plastic wallet or cabinet. Jot down important contact details on your phone in case. Again stay on top of this as much as possible. Keep things in one location. Hold weekly meetings to discuss relevant updates and share information. View some houses in the area. Take a number of pictures. Consider the pros and cons of each property which you look at in question.
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jacketpotato
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Why do you want to do this?

Most people are better off renting until they are settled into a graduate job. It's much more flexible. You really don't want to tie yourself down too much at the start of your career as you need to be able to move about if you want to be able to get the best study, training and work opportunities.

Plus for most people it isn't realistic to save the tens of thousands of pounds you will need for a deposit while you are a student anyway.
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ajj2000
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(Original post by avocado25)
Hi I'm in First year of my degree and I plan on getting my own place once I've graduated.

What steps should I take over the years before graduation for this to become a success?
I've already started saving on my current account.
I'm open to different suggestions, ideas, to make this a reality.
aim at jobs and careers in more affordable parts of the country.
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Etomidate
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Put your savings into a Lifetime ISA. You contribute up to £4k a year and the government contributes £1k.

Make savings where you can. Avoid expensive subscriptions and contracts. Don’t get expensive car finance deals. Make your own lunches, avoid regular take out coffees etc etc.
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avocado25
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(Original post by jacketpotato)
Why do you want to do this?

Most people are better off renting until they are settled into a graduate job. It's much more flexible. You really don't want to tie yourself down too much at the start of your career as you need to be able to move about if you want to be able to get the best study, training and work opportunities.

Plus for most people it isn't realistic to save the tens of thousands of pounds you will need for a deposit while you are a student anyway.
At the moment I'm a estranged student and I plan to have my own place once I've graduated university
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tinygirl96
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Start saving
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