Buying a house impossible

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richard10012
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#1
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#1
Why are houses in the south in the U.K. so expensive? I am so depressed that I will never be able to own my own house.
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Muttley79
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#2
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#2
(Original post by richard10012)
Why are houses in the south in the U.K. so expensive? I am so depressed that I will never be able to own my own house.
Save up for a deposit - you could look at 'help to buy' as well.

It's not impossible ...
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ageshallnot
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#3
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#3
(Original post by Muttley79)
Save up for a deposit - you could look at 'help to buy' as well.

It's not impossible ...
I fear that the OP's glass is always at least half empty.
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j25_8
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#4
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#4
(Original post by richard10012)
Why are houses in the south in the U.K. so expensive? I am so depressed that I will never be able to own my own house.
Save more aggressively if you aren’t already.

(Stocks & Shares or regular) Lifetime Investment Savings Account with Hargreaves Lansdown (ideal) or AJ Bell

Premium Bonds (basically a saving account)

Absolutely minimise your rent by any means necessary even if it means staying with family

Those are the ones I’ve got off of the top of my head sorry but i could spend some time searching if that helps. Also if you want more depth on any (or all) of these ones, feel free to ask mate
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mnot
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#5
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#5
(Original post by richard10012)
Why are houses in the south in the U.K. so expensive? I am so depressed that I will never be able to own my own house.
Because people are willing to pay that much.
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Muttley79
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#6
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#6
(Original post by mnot)
Because people are willing to pay that much.
PRSOM - true but there are no houses cheaper than 200k in my village and that's for a one bed.
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CatusStarbright
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#7
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#7
Another problem is the amount you can lend - most mortgage providers will let you borrow only 4.5 time your annual salary so if you have a low-paying job you will find it very difficult to save/borrow enough to buy a property.
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Reality Check
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#8
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#8
(Original post by Muttley79)
PRSOM - true but there are no houses cheaper than 200k in my village and that's for a one bed.
Same round us - comedy prices, really. We couldn't possibly afford to buy round here now, as first time buyers. I feel so sorry for them - I know several 'kids' who were brought up in the village, moved away and now want to come back to raise their own families (having now an appreciation of what they thought was Boring Boring Boring when they were young), but it's completely impossible for them.

The number of second+ homes around here is terrible, frankly.
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ageshallnot
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#9
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#9
(Original post by Muttley79)
PRSOM - true but there are no houses cheaper than 200k in my village and that's for a one bed.
Can't even buy a studio flat for that where I live!
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Muttley79
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#10
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#10
(Original post by Reality Check)
Same round us - comedy prices, really. We couldn't possibly afford to buy round here now, as first time buyers. I feel so sorry for them - I know several 'kids' who were brought up in the village, moved away and now want to come back to raise their own families (having now an appreciation of what they thought was Boring Boring Boring when they were young), but it's completely impossible for them.

The number of second+ homes around here is terrible, frankly.
Most of the new homes locally are 4 or 5 beds - so totally out of reach for most people. When we did research for the neighbourhood plan, the consensus was the village needed more 2 and 3 bed.
Developers don't want to build them because they can make more profit with larger houses. One plot was allocated for 8 bungalows so people could downsize - they've built four 5 bed luxury houses ...
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Muttley79
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#11
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#11
(Original post by ageshallnot)
Can't even buy a studio flat for that where I live!
Yep - my friends daughter just bought a tiny one bed flat in London for the same price as a 3 bed here.
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Reality Check
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#12
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#12
(Original post by Muttley79)
Most of the new homes locally are 4 or 5 beds - so totally out of reach for most people. When we did research for the neighbourhood plan, the consensus was the village needed more 2 and 3 bed.
Developers don't want to build them because they can make more profit with larger houses. One plot was allocated for 8 bungalows so people could downsize - they've built four 5 bed luxury houses ...
Exactly the same here. And whenever a parcel of land comes up, they inevitably squeeze the biggest house they can onto it, rather than build something affordable. There is council housing at the periphery of our village, but that's all privately owned since Right to Buy, and comes up really infrequently. £495,000 for a not-very-nice small 3-bed ex-council house... Utter madness.
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Reality Check
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#13
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#13
(Original post by ageshallnot)
Can't even buy a studio flat for that where I live!
That's because you're fancy posh
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ageshallnot
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#14
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#14
(Original post by Reality Check)
That's because you're fancy posh
But I live on the mean streets! 😁
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Reality Check
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#15
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#15
(Original post by ageshallnot)
But I live on the mean streets! 😁
These ones?
Name:  stucco-victorian-terraced-houses-and-buildings-of-eaton-square-in-A2W0HJ.jpg
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kazzers
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#16
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#16
(Original post by richard10012)
Why are houses in the south in the U.K. so expensive? I am so depressed that I will never be able to own my own house.
I have a guide that can help you I've used it several times.

---The guide---
Step 1: Don't be poor
Step 2: Buy a house
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ageshallnot
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#17
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#17
(Original post by Reality Check)
These ones?
Name:  stucco-victorian-terraced-houses-and-buildings-of-eaton-square-in-A2W0HJ.jpg
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Alas, no.
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Mesopotamian.
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#18
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#18
(Original post by Reality Check)
These ones?
Name:  stucco-victorian-terraced-houses-and-buildings-of-eaton-square-in-A2W0HJ.jpg
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Kensington and Chelsea or City of Westminster, I bet.
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Reality Check
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#19
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#19
(Original post by Mesopotamian.)
Kensington and Chelsea or City of Westminster, I bet.
I think it's Belgravia, but much of a muchness to your suggestions Lovely, isn't it?
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Mesopotamian.
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#20
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#20
(Original post by Reality Check)
I think it's Belgravia, but much of a muchness to your suggestions Lovely, isn't it?
I’m pleased, Victoria and Sloane Square were the first places I thought of (not least because I recently spent 30 minutes walking round in circles at night around the area trying to find the orchestra I was supposed to attend :lol: ).
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