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

Spike

Full Back
I’m not taking anything away from you about what you achieved. How much longer would it have taken to save that extra 3k? A lot of people don’t have that option
Of course I do appreciate that like

We were trying to put away about £600-£800 a month at the end so 4-5 months maybe? The house came up that we wanted and we were a couple of grand short and it left us without anything for solicitors fees until we got paid again so I lent the rest to keep it all moving along
 


safcforever

Striker
Good money is relative.

When talking deprivation, we're talking not just economy but health etc.

2019 Local Authority Health Profile for Sunderland:

" Sunderland is one of the 20% most deprived districts/unitary authorities in England and about 23.6% (11,395) children live in low income families.

Life expectancy is 11.5 years lower for men and 8.5 years lower for women in the most deprived areas of Sunderland than in the least deprived areas."​


If a good 20+% of the population are struggling, you don't need to be a millionaire to be doing much much better than them.

But by the sane token if you moved to one of the richer regions of the UK you'd probably have a lot of things you're accustomed to removed from your options

I don't actually give a shit. Nobody who gets anywhere gets there without help, including you. Nobody is self made. If you're fortunate it's because someone helped you
That's all privelege means- you're a part of, and benefit from, the experiences and lives of others.

If the concept of you yourself not actually accomplishing everything yourself, which you didn't, is offensive to you, we're not going to see eye to eye.
You don’t believe people can work hard and fight their way to the top.

Using the “privilege” downplays anyone’s achievements.I get some people are handed it but this poster likely worked hard to get into a position so they could be offered a chance. Don’t play off someone hard work and commitment at just being helped along the way.
The “help” they were offered was because they worked hard and offered something to the person helping. Wether that be easing some work load. Lining them up as a replacement so they can look up the ladder etc.

I still understand not everyone has done this. But I’m pretty confident the poster in question has made sacrifices to get there
 

sonson

Striker
As you say it’s all relative, you earn more your outgoings increase etc. I imagine the slog of saving is the same regardless below a certain very high income.

That’s an extremely broad view of privilege mind. By that definition every single person on the planet is privileged.
It's relative, like everything.

But also, speaking as a support worker, no. There are people who have never actually really gotten a break. Education is a privilege in theory, but not if its used to abuse you and break you down as a child etc.
 

safcforever

Striker
Of course I do appreciate that like

We were trying to put away about £600-£800 a month at the end so 4-5 months maybe? The house came up that we wanted and we were a couple of grand short and it left us without anything for solicitors fees until we got paid again so I lent the rest to keep it all moving along
Well done.
I’m in a decent position as both of us work and I’m in a decent paying job. We didn’t have much to cut back and have moved twice (due to new jobs) in 12 months so took big financial hits on that. I don’t envy some people
I’m almost there and can’t wait to make that step.
 

sonson

Striker
You don’t believe people can work hard and fight their way to the top.

Using the “privilege” downplays anyone’s achievements.I get some people are handed it but this poster likely worked hard to get into a position so they could be offered a chance. Don’t play off someone hard work and commitment at just being helped along the way.
The “help” they were offered was because they worked hard and offered something to the person helping. Wether that be easing some work load. Lining them up as a replacement so they can look up the ladder etc.

I still understand not everyone has done this. But I’m pretty confident the poster in question has made sacrifices to get there
Most people work hard. If what it took to get the best life was to be the hardest working, hardest fighting people in the world, then most of the population of the developing world would be millionaires. As would most of the immigrant population, janitors, cleaners, dishwashers etc.

Effort does not lead to wealth without opportunity.
 
First time buyers set their sights too high nowadays. I bought my first house in 2001 for 20k, a dated but solid and liveable 2 bed terrace with 70s kitchen/decor. The equivalent house now can still be had for about 50k. However, they all want nearly new or new build 100k+ houses rather than move up the ladder as their incomes rise. That's the crux of the problem imo.
 

safcforever

Striker
Most people work hard. If what it took to get the best life was to be the hardest working, hardest fighting people in the world, then most of the population of the developing world would be millionaires. As would most of the immigrant population, janitors, cleaners, dishwashers etc.

Effort does not lead to wealth without opportunity.
But the level of drive and commitment increases your opportunities (I do understand that’s not always the case)

If someone is just turning spanners from buzzer to buzzer they will less likely be offered a promotion over someone who turns the spanners then spends some time getting to understand the business or operation better. That person deserved the credit and recognition for putting themselves in that position. Down playing it as a privilege is taking away that hard work and comment they put in to better their lives.
First time buyers set their sights too high nowadays. I bought my first house in 2001 for 20k, a dated but solid and liveable 2 bed terrace with 70s kitchen/decor. The equivalent house now can still be had for about 50k. However, they all want nearly new or new build 100k+ houses rather than move up the ladder as their incomes rise. That's the crux of the problem imo.
This I do agree with. I could be on the market already but I don’t want to live in the north end. We’re looking outside the city because it’s a little cheaper than most but if I solely wanted a house and didn’t care where I could get one in the highest crime rate area in the city (keep in mind my city is the highest crime rate in Canada, so that shows how bad it is)
I’d rather put that extra 12 months in and not live there
 
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Privilege my least favourite word of recent times. I was privileged to grow up in a happy but fairly poor house. I’ve worked damn hard to earn the fairly “privileged” place I find myself in.

Would put myself in that category and had to make a few sacrifices to get there.
My first house bought it with my Brother to get on the housing ladder.
Without doubt a struggle at first, prices at the time were rocketing down here. Bought my Brother out after around 18 months, splitting the equity that enabled him to have a deposit for his own.
I had a new job and was also studying at home. Worked overtime at weekends as well. Tough but worth it.
Privileged? no way. Hard work yes and without doubt some luck with decision making. Always proud of my working class roots.
Didn’t get a helping hand from anyone.
 

Spike

Full Back
Well done.
I’m in a decent position as both of us work and I’m in a decent paying job. We didn’t have much to cut back and have moved twice (due to new jobs) in 12 months so took big financial hits on that. I don’t envy some people
I’m almost there and can’t wait to make that step.

cheers mate, you’ll get there in no time. We also moved a year before we bought and took a hit on that plus all the chew on moving, the inevitable two lots of bills that month, we had to get out of our previous place like it was the pits and neighbours were torturing us, the place we moved to was just as grim but it just served as more motivation to get away from renting

We have got covid to thank for boosting our savings like and accelerating the process, got some money back from a holiday we had paid off and to be fair we used to spend a lot on eating out and socialising.

I also had an earlier questionable financial decision to thank for another boost, I financed a brand new fiesta ST when I got my first proper job after uni, eventually it was paid off so I could sell that (for 11k less than I paid for it) and put a few grand towards the deposit and I’ve got a cheaper lease car through work now (another poor financial decision)
 

sonson

Striker
Would put myself in that category and had to make a few sacrifices to get there.
My first house bought it with my Brother to get on the housing ladder.
Without doubt a struggle at first, prices at the time were rocketing down here. Bought my Brother out after around 18 months, splitting the equity that enabled him to have a deposit for his own.
I had a new job and was also studying at home. Worked overtime at weekends as well. Tough but worth it.
Privileged? no way. Hard work yes and without doubt some luck with decision making. Always proud of my working class roots.
Didn’t get a helping hand from anyone.
You say you bought your first house with your Brother to get on the housing ladder.

Presumably you wouldn't have been able to buy the house in the first place otherwise.

I'd call that a fairly massive helping hand. Someone helping you to do something otherwise unavailable to you.
 

AndrewP

Striker
Why do you think house prices in Sunderland are so cheap BTW? Somebody just forget to go into the letting agent with a price gun? For 20 years?
Because of market forces? Not sure what you mean about the gun.
You say you bought your first house with your Brother to get on the housing ladder.

Presumably you wouldn't have been able to buy the house in the first place otherwise.

I'd call that a fairly massive helping hand. Someone helping you to do something otherwise unavailable to you.
Or maybe he just went halfies with bro?
 
You say you bought your first house with your Brother to get on the housing ladder.

Presumably you wouldn't have been able to buy the house in the first place otherwise.

I'd call that a fairly massive helping hand.

Without doubt I would never have been able to afford it at the time on my own. Plan B was with a Mate but luckily Brother was convinced it was a good decision.
Parents at the time said we were mad due to the cost.
Never went on holiday for 3 years after buying the house.

Best advice given to me was get on the housing ladder when you can.

I don’t consider that a helping hand but a choice.
 

sonson

Striker
Without doubt I would never have been able to afford it at the time on my own. Plan B was with a Mate but luckily Brother was convinced it was a good decision.
Parents at the time said we were mad due to the cost.
Never went on holiday for 3 years after buying the house.

Best advice given to me was get on the housing ladder when you can.

I don’t consider that a helping hand but a choice.
Aye and I'm glad it worked out for you like after those sacrifices etc

But it was a choice only available to you because someone helped you out. Wouldn't have been a choice to make in the first place if someone, whoever it was, didn't help you. Without that helping hand, no house for you at that point in your life. That's undeniable.

That's all I'm saying. Most people benefit from somebody else at critical points in their life. The world is better that way and better when people accept it too. People have and will benefit from you in the same way at some point in their life I'm sure.
Because of market forces? Not sure what you mean about the gun.

Or maybe he just went halfies with bro?
Market forces aye. Dictated by the relevant income of people within their catchment area ie not very much.
 
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Good money is relative.

When talking deprivation, we're talking not just economy but health etc.

2019 Local Authority Health Profile for Sunderland:

" Sunderland is one of the 20% most deprived districts/unitary authorities in England and about 23.6% (11,395) children live in low income families.

Life expectancy is 11.5 years lower for men and 8.5 years lower for women in the most deprived areas of Sunderland than in the least deprived areas."​


If a good 20+% of the population are struggling, you don't need to be a millionaire to be doing much much better than them.

But by the sane token if you moved to one of the richer regions of the UK you'd probably have a lot of things you're accustomed to removed from your options

I don't actually give a shit. Nobody who gets anywhere gets there without help, including you. Nobody is self made. If you're fortunate it's because someone helped you
That's all privelege means- you're a part of, and benefit from, the experiences and lives of others.

If the concept of you yourself not actually accomplishing everything yourself, which you didn't, is offensive to you, we're not going to see eye to eye.
You seem a bit angry for some reason, I helped myself.
 

Busquets

Goalkeeper
to be fair mate I’m 29 and bought my first house only in March of this year, the no luxury and stopping in thing was my strategy as well, you can piss and moan about prices and wages and you’d probably be right but if you want a house you need to just knuckle down and make it happen cause if you live in Sunderland it really is achievable

we lived in a shit hole rented place which was like shameless to save up, we were absolutely miserable to be honest and if it went on much longer we would have given up, all in I reckon it took us about 2 year of proper saving to save up our deposit, 4 year of talking/thinking about it in total and being non committal, like I said in a previous post once you get a few grand there that you can see it gets much easier to stay motivated when you can work out how many months (even if it’s 30 months or something) it’ll be before you will be at your target

And we still don’t have sky now, the only subscription I pay for is Amazon prime, no gym membership, my phone is sim only, I haven’t got a season ticket.

we did BORROW £3k off my dad to get us over the line for the house we wanted but I’m paying him back £250 a month on top of our mortgage now

you need to cut the takeaways out like as well mate, doesn’t matter if you’re coming in late just have egg on toast or something or stick a microwave meal in even, plan your shopping and do an online order so you at least mitigate your costs, have you actually printed a bank statement and done the maths on how much you spend on food? That’s what you need to do, you said it yourself if you cut out those luxuries for a year it would be half way to a starter house, how long do you think it takes like? Have a look on money saving expert forums there’s people on there down south get themselves out the hole after divorces etc and save up for 10 years to get a scabby flat an hour bus ride from where they work. We live in Sunderland man it’s easy mode realistically the market round here. If you’re not prepared to do that sort of thing then good luck to you

there’s no magic solution for us normal people mate, if you haven’t got rich parents the answer is the same - save up and stop in for a bit
I don't disagree with that mate, but I don't live in Sunderland or the north east. But see, even your story. My dad's in his 70s and lives month to month, he doesn't have 3k to give me.

I do think it's more attainable there, which has me considering moving back, but honestly if you go to any major city (London etc) you're fucked.
 
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