Moving in together

[Upthere]

Doesn't that contradict your argument a bit as people have saved a fortune from not going away or not being able to go out to pubs & restaurants etc

A bit but I haven’t saved 7.5% of a house through not going out, it has helped but unfortunately work etc dries up with this pandemic

Await the inevitable backlash mate about those expensive coffees you drink and the latest iPhone you have.

Try to ignore the fact you don’t have these things and that these comments will largely come from people who bought their first home on one wage and when the cost of living wasn’t continuously rising in comparison to wages.

That’s it, sacrifices need to be made but it’s getting harder. People talk about young people but I know my parents got their mortgage in the 90’s and in terms of the % of their income it was a lot less than mine would be now. Cost of living is going up higher than wages and like you said it’s getting worse, young people do have it hard with buying houses but people won’t listen

 

[42]

A bit but I haven’t saved 7.5% of a house through not going out, it has helped but unfortunately work etc dries up with this pandemic

Depends what the house costs.
7.5% of one of the cottages gilly refers to is about £3.5k - £4k
Much of the increase has been driven by the stamp duty cut on more expensive houses, I'm not sure the lower end has been impacted that much. In Sunderland prices in SR6 have gone up a lot, but in SR4 they haven't.

 

[The Truth]

A canny little thread completely derailed

 

[Upthere]

Depends what the house costs.
7.5% of one of the cottages gilly refers to is about £3.5k - £4k
Much of the increase has been driven by the stamp duty cut on more expensive houses, I'm not sure the lower end has been impacted that much. In Sunderland prices in SR6 have gone up a lot, but in SR4 they haven't.

I don’t what houses you can get where I’m from what you’ve said there that won’t be on a rough estate. The lower end has definitely made it more affordable for people that didn’t have the capital to move, you’ve mentioned the SR4 hasn’t went up much but that’s still 120K a house, that’s not a 3.5K increase for a cottage

 

[buster]

A canny little thread completely derailed

Nowt better than derailment on here .

 

[42]

I don’t what houses you can get where I’m from what you’ve said there that won’t be on a rough estate. The lower end has definitely made it more affordable for people that didn’t have the capital to move, you’ve mentioned the SR4 hasn’t went up much but that’s still 120K a house, that’s not a 3.5K increase for a cottage

The terraced cottages i referenced around pallion & millfield you can pick up from about £50k-£60k.

Had a quick look on Rightmove, and there's a lot of decent looking houses in the £100k -£120k bracket

SR4 won't have seen 7.5% increases either, maybe 2 or 3% tops. There's no stamp duty benefit on the cottages.

 

[Upthere]

A canny little thread completely derailed

Just putting across it can be difficult to do both

 

[DaveH]

Just curious as to what the SMB thinks of this.

I moved in with my wife around 10 weeks after starting to see each other. I have mates who lived with their parents til getting a house together and split up after a few months… some of these were 5 year relationships.

I suppose my question is, can you really know someone before living with them? And is it worth doing before embarking on something as serious as a mortgage together?

Me and my missus moved in together by stealth.

We were students when we met. In my final year I had a place in halls but she was in her second year living out with friends. We found we spent most of our time at her house anyway. I stopped in the area to work while she finished her degree. Most of my mate in my year left, so we got a shared student house. We each had a bedroom just in case but got the biggest and the smallest. We lived in the biggest and the smallest became a spare room for anyone to use for visitors.

Then that lot graduated, my wife got a job in the area so we rented a flat together, then after another year (and we were engaged at this point) we got a house and mortgage.

I think don't rush things. Living together does change stuff, but keep the pressure off I would say.

 

[42]

That’s it, sacrifices need to be made but it’s getting harder. People talk about young people but I know my parents got their mortgage in the 90’s and in terms of the % of their income it was a lot less than mine would be now. Cost of living is going up higher than wages and like you said it’s getting worse, young people do have it hard with buying houses but people won’t listen

the 90's was probably the optimum time to buy tbf. A few years earlier in the late 80's and it was a lot more expensive. Although in the North were now pretty much at 1990's levels.

Logon or register to see this image

 

[Upthere]

@42 Interesting that it just shows me why I’d never want to move to London too, I think housing is affordable but going back to my previous point it’s very difficult to rent and save for a house, almost impossible for some people

 

[Shambo]

Stayed over at the mrs the night I met her (no boning) as we couldn't stop chatting, hardly left since. Went home a few times to grab clothes and things here and there but was just happier being at hers. 22 years later we are married with a 12 year old daughter and 3 dogs.

 

[Upthere]

£60 a month phones .
Nights out .
The German whip.
Holidays .
Clothes .

and the biggest thing not willing to work all the hrs available to save the money to get a deposit etc.
another factor is young people are not willing to buy an ex council house or a cottage etc to get them on the ladder.They want the £300k house from the off,I can’t blame them mind but at the same time I couldn’t think of nowt worse than living at home in my mid to late 20’s.


as you say though,now is possibly the worst time in this pandemic to buy a house as people have went nuts.My bullet points above are a generalisation of young peoples mentality in normal times.Spoilt.

Nonsense ,credit has never been so cheap and available

I do agree with you a lot on what you say the cars on £500 a finance that is essentially £6000 a year towards a house but that’s what happens when finance in cars is easier to get. But I don’t think as many young people want to actually buy a house at the minute they’d rather enjoy the good life for now

 

[42]

@42 Interesting that it just shows me why I’d never want to move to London too, I think housing is affordable but going back to my previous point it’s very difficult to rent and save for a house, almost impossible for some people

I agree it's difficult to rent & save. I'm not suggesting living with parents until late 20's or 30's either, but if you don't move away for work & live with parents until maybe 23ish to save up it can make a massive difference to what you can afford (it's what I did anyway)

 

[The Truth]

Just putting across it can be difficult to do both

I know mate, wasn't you who derailed it

 

[Seaham Towny]

A bit but I haven’t saved 7.5% of a house through not going out, it has helped but unfortunately work etc dries up with this pandemic

That’s it, sacrifices need to be made but it’s getting harder. People talk about young people but I know my parents got their mortgage in the 90’s and in terms of the % of their income it was a lot less than mine would be now. Cost of living is going up higher than wages and like you said it’s getting worse, young people do have it hard with buying houses but people won’t listen

We used every resource available to us mate. 5% deposit through the help to buy scheme, along with a H2B ISA and money that we were given at our weddings.

My parents worked as a fitter and a seamstress. So my mam was on min wage as far as I know. Before they got married and I came along, they had 3 holidays a year and my dad was out Friday, Saturday and Sunday.

Bought a house in 1990, no bother. Me dad actually won a large chunk of the deposit in a casino and paid it in cash.

But it wasn’t easier back then. Sacrifices were something only the older generation know how to do.

Give owa

 

[girojim]

It's not just the earning to house price ratio its the difficulty in getting a mortgage. Lenders are so much stricter now than they were years ago. You might have similar income to house price ratio than there was twenty/thirty year ago but doesn't mean you will get a mortgage

 

[42]

It's not just the earning to house price ratio its the difficulty in getting a mortgage. Lenders are so much stricter now than they were years ago. You might have similar income to house price ratio than there was twenty/thirty year ago but doesn't mean you will get a mortgage

They're stricter now to what they were in the early 2000's. But they were also strict prior to that. The housing boom in the early 2000's was in part fueled by banks relaxing lending criteria with stupid things like self certs & 125% LTV's

 

[Shambo]

Back in 2003/4ish I bought my first house on my own, and was self certified, 105% mortgage & went interest only for a few years almost straight away.

 

[Upthere]

We used every resource available to us mate. 5% deposit through the help to buy scheme, along with a H2B ISA and money that we were given at our weddings.

My parents worked as a fitter and a seamstress. So my mam was on min wage as far as I know. Before they got married and I came along, they had 3 holidays a year and my dad was out Friday, Saturday and Sunday.

Bought a house in 1990, no bother. Me dad actually won a large chunk of the deposit in a casino and paid it in cash.

But it wasn’t easier back then. Sacrifices were something only the older generation know how to do.

Give owa

Haway mate you can’t talk all about sacrifice with them winning a large amount of the deposit at the casino. That happens these days it’d be a red flag on the mortgage for gambling if it was online.

Obviously I don’t know the situation but sounded like they done alright for themselves if they managed to go on 3 holidays a year. Know plenty of people my age that have made a sacrifice but like I said my initial point was about renting and being able to save for a house it’s difficult, and you don’t want to me paying someone else mortgage for them. People always think the generations after them aren’t as hard working as them with sacrifices etc

 

[Kevsgreat]

Had been seeing our lass for about 4 year when we moved in together, rented a flat. She'd lived in a shared house all the time I knew her and I'd not lived away from home. Spent a lot of time together before we moved in but it's not the same as living together.

Seeing as it's the way the thread's gone, we bought a place with 5% deposit after about four year of renting. Have spent about another 20% of the fucker's value on bringing it up to scratch. Fancy something with more outdoor space now but no idea how people afford it. Maybe too used to my luxuries.