Saving for a house deposit, how does anyone do this now...

The Krankie Returns

Central Defender
they literally voted it through earlier this week.

spend you whole life scraping by, working your plums off and paying your taxes, clear your mortgage of £100k, retire, and have your house taken off you.
Not living in the uk I wouldn’t know, but any law can be repealed depending on the party in power and their will to do so.
I know that when we sold our house in Northampton in 2007 that we had to get a homebuyers report at our expense. Correct me if I’m wrong but that didn’t last very long.
I don’t think it matters which party is in government, they will all find ways to fleece you and tell you that they’re doing it for your benefit.
 


sonson

Striker
Aye it’s much harder nowadays. Wish I’d lived in the seventies and worked down the pit, the good old days.
Aye hard, dangerous work no longer exists does it mate

Also my dad bought his house in the 70s. His dad was a coal miner. My dad wasn't though because *not everyone was a coal miner*.
 
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Pop

Striker
It ain't interest free. Not the one she's been stuck with anyway - at least that's how I understand it.


Interest free for the first five years.

Twist on 21 some people.
 

sonson

Striker
I know what period I would rather live through.
It's not Back to the Future

It's a mature discussion about the affordability of housing. Which is, by every metric, far worse now.

At no point has anyone said that makes living now worse or living any other time easy. It's an observation about one aspect of living . That's all.
 
It's not Back to the Future

It's a mature discussion about the affordability of housing. Which is, by every metric, far worse now.

At no point has anyone said that makes living now worse or living any other time easy. It's an observation about one aspect of living . That's all.
It’s not that difficult to get on the property ladder with a bit of effort. There are 74 houses for sale within one mile of where I live under £70k, that’s a £3500 deposit to get together. Every one of them is equal to or better than the first house I bought.
 

DaveI

Central Defender
May I also suggest asking amongst mates what perks they get at work that could be shared?

We get discounted prepaid cards for Asda and Sainsburys- £95 gets you a £100 card. Not earth shattering but it all helps. I buy them for my mates.
 
The explanation as to why people bought houses when it was easier is as people have said on here pretty straight forward. You could make sustainable ammendments to your life, save from scratch , and after a few years, have a deposit. The reason people don't do this now is because it dosent work anymore.If it did, people would do it.
Some people do. It isn't an all or nothing thing. People saying it's impossible is as ridiculous as people saying it's easy.
Everybody's circumstances are different. It's a generalisation but youngsters today probably get more help from their parents and grandparents than they did in previous generations.
There were plenty of people in the eighties and nineties who couldn't afford deposits, just the same as now.
It all goes back to my original point that if there was enough affordable social housing, people wouldn't be so desperate to buy a place and if they wanted to they might at least be able to save.
 

sonson

Striker
It’s not that difficult to get on the property ladder with a bit of effort. There are 74 houses for sale within one mile of where I live under £70k, that’s a £3500 deposit to get together. Every one of them is equal to or better than the first house I bought.
The housing market is not contained within the North East though.

As ever, there are exceptions to the rule. But the average UK house price, so the thing most applicable to most people living in Britain, is £240,000.
It all goes back to my original point that if there was enough affordable social housing, people wouldn't be so desperate to buy a place and if they wanted to they might at least be able to save.
Absolutely
 

BILLY BUS PASS

Central Defender
whats the point? the tories will only take it off you when you retire.

the only two things of any significant value that most working class people will ever own are their houses and their pensions, paid for over decades of hard work, and both taken from you the second you aren't useful to keep the cogs of capitalism turning.

government scum bastards
tidied mate seeing as the last 20 years has been at a guess split equal labour tory. It’s in no parties interest to eliminate an easy source of income no matter how many promises they make.
 

The Krankie Returns

Central Defender
Some people do. It isn't an all or nothing thing. People saying it's impossible is as ridiculous as people saying it's easy.
Everybody's circumstances are different. It's a generalisation but youngsters today probably get more help from their parents and grandparents than they did in previous generations.
There were plenty of people in the eighties and nineties who couldn't afford deposits, just the same as now.
It all goes back to my original point that if there was enough affordable social housing, people wouldn't be so desperate to buy a place and if they wanted to they might at least be able to save.
There will also be a stigma of living in social housing. The Englishman’s home is his castle sort of thing. Compare that to Singapore, a very rich city state and the vast majority of the population there live in social housing but don’t/won’t feel stigmatised but it.
My first purchase was a flat.
My first purchase was The Funky Gibbon by The Goodies at The Spinning Disk in town.
 
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sonson

Striker
Wonder how many twisting on about getting on the property ladder spend 3.5k a year on holidays
We rent out of choice because we have a big family spread across multiple continents so travel and likliehood of living elsewhere are both significant factors in our life and future.

But if you added together over 13 years the multiple trips we've taken to Europe, Africa, India, NZ, and the States, it would still would fall considerably short of the 28k deposit you need for 10% of the average Edinburgh flat price. And if we'd started saving for it in 2008 when we got married, the amount would have incressed year on year. A lot of my friends who do own have been on very good wages for a decade but none of them could have bought within that time without their parents help.
 
The housing market is not contained within the North East though.

As ever, there are exceptions to the rule. But the average UK house price, so the thing most applicable to most people living in Britain, is £240,000.

Absolutely
But my first purchase wasn’t an average house, it did me for a couple of years while I saved up further. You can’t expect your first house to be average.

I’m talking about the north east because the majority of this board will be from the north east.
 
The housing market is not contained within the North East though.

As ever, there are exceptions to the rule. But the average UK house price, so the thing most applicable to most people living in Britain, is £240,000.

Absolutely
I think you need to factor in that people trying to get on the housing ladder buy at the bottom, not the middle of the ladder. It may be the average but the cheapest in any given area will be a lot less.
 

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