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

We tend to either go out for food or order in on a Friday - thats the only time we have them tbh. My missus is pretty good with the bait planning though she sits and checks the kids menu's at nursery and school for the week and ahead and we make sure we have the stuff for each night. The food isnt the problem its the time with football, gymnastics, dancing then I play football one night - I think thats why we have a Sunday dinner most weeks so that we can all sit down together and not be in a rush

Same with the clubs. Gets chaotic on a weeknight. We try to get a broth or soup on the instantpot thing then youre sorted for whenever
 


The question could be turned on its head and we could ask why you want to buy a house in the first place. If there was enough affordable, quality social housing, not everyone would be desperate to get on the housing ladder.
The harsh reality is that as things stand at the moment, if you want to get on the housing ladder, you have to make compromises. Whether that's to your lifestyle, your expectations or your timelines.
People giving examples of how you can do this aren't lecturing, they've probably lived through it.
And for those young enough not to remember the eighties, maybe do a bit of research about job security and comfortable living before suggesting all old people had it easy. :lol:
 
I took 10 years to pay my debt off. Could have done it in half the time but there no way I was going to scrimp to do that.
I consider 1 night out a week an essential, for mental health if nowt else. Doesn’t have to be an expensive one, but you have to get down the pub.
Also, go on the step change debt website and fill in the spending questionnaire. See how much you spunk on stuff that you wouldn’t be allowed to if you were in debt management. Try and get your spending down to those levels and you’ll save a fortune very quickly.
 
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I don’t know the answers
however probably people bought there houses so they could choose within there budget were they wanted to live
work lifestyle and family were there choose to live
I t’hink
 
The question could be turned on its head and we could ask why you want to buy a house in the first place. If there was enough affordable, quality social housing, not everyone would be desperate to get on the housing ladder.
The harsh reality is that as things stand at the moment, if you want to get on the housing ladder, you have to make compromises. Whether that's to your lifestyle, your expectations or your timelines.
People giving examples of how you can do this aren't lecturing, they've probably lived through it.
And for those young enough not to remember the eighties, maybe do a bit of research about job security and comfortable living before suggesting all old people had it easy. :lol:
I still think It’s shite that you could pay enough rent to buy the house and have nothing to show for it. That’s a why I hate renting.
I don’t know the answers
however probably people bought there houses so they could choose within there budget were they wanted to live
work lifestyle and family were there choose to live
I t’hink
We chose to buy a house and not compromise on anything. Still paying for that choice 20 years later 😂
 
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I still think It’s shite that you could pay enough rent to buy the house and have nothing to show for it. That’s a why I hate renting.

We chose to buy a house and not compromise on anything. Still paying for that choice 20 years later 😂
There was quite a few couples in my generation who chose to rent
no repairs and little worry about looking after the property
then the thatcher era took over
every one was offered to buy there property at a reduced price some took up the offer and quite soon they found they could move up the housing ladder
however there were sadly some families who could not manage and lost there property
then they had to go cap in hand to get another rented house
This plus buy a cheap shit house for now
As was called the property ladder
 
We tend to either go out for food or order in on a Friday - thats the only time we have them tbh. My missus is pretty good with the bait planning though she sits and checks the kids menu's at nursery and school for the week and ahead and we make sure we have the stuff for each night. The food isnt the problem its the time with football, gymnastics, dancing then I play football one night - I think thats why we have a Sunday dinner most weeks so that we can all sit down together and not be in a rush
I knew it!!! Tea list…
 
I still think It’s shite that you could pay enough rent to buy the house and have nothing to show for it. That’s a why I hate renting.

We chose to buy a house and not compromise on anything. Still paying for that choice 20 years later 😂
Yeah and Rents are not cheap overall at least buying you have bricks and mortar at the end
 
sounds obvious but just scale back all non essentials accordingly and only buy what you need and occasionally treat yourself. look at your wastage and see if there are any patterns. My wife said she wanted to quit teaching and start her own business and her salary was about 60-63% of our household income. I didnt think we could manage but once we had cut accordingly we didn't struggle at all, in fact we started overpaying out mortgage. It was about 2 years before she took another wage.

I wish i could go back and time and say how the fuck are you pissing away my wifes 40K a year salary. if we did it sooner we probably would be mortgage free now.

embrace minimalism and get on the help to buy isa scheme.
 
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live within your means and work up the ladder , dont expect a detach new build or summit as first home as many younger ones seem to be doing, god help them if interest rates did rise by much

use a LISA to get govt to add 25% each year
 
Me and the Mrs lived with my parents, bought a doer upper room took us 6 months for a standard we could live in. 95% LTV was still standard before COVID. High mortgage rate but long term makes it affordable for 2 us and just had 7 months of 1 income due to maternity. It’s hard but if you want it, remind yourself why your doing it.
 
The question could be turned on its head and we could ask why you want to buy a house in the first place. If there was enough affordable, quality social housing, not everyone would be desperate to get on the housing ladder.
The harsh reality is that as things stand at the moment, if you want to get on the housing ladder, you have to make compromises. Whether that's to your lifestyle, your expectations or your timelines.
People giving examples of how you can do this aren't lecturing, they've probably lived through it.
And for those young enough not to remember the eighties, maybe do a bit of research about job security and comfortable living before suggesting all old people had it easy. :lol:
They haven't lived through it unless they've bought a house since 08 or so. The housing market, which famously was globally fucked in that year, the subsequent availability of options being bought up en masse by hyper powerful landlords, lack of new houses, renting costing over half your salary and the failure for wages to rise in a decade while being outpaced by cost of living, *all at once* within this period. These are not conditions in which most people who now own houses or have mortgages bought one. That's just a fact.

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.

It gets tedious seeing people be shamed for their supposed fiscal incompetence by people who don't even know what a mobile phone bill costs. Millennials have experienced the two greatest economic catastrophes since 1929, within the space of a decade, at the least financially secure period of life.

Is it that hard to believe the post war global economy in which most people bought property, during the most sustained history of prosperity in world history, was an easier climate in which to buy a house? And that chances of doing so thereafter have more to do with the death spasm of that same economy, which is massively reliant on an inflated housing market as a stand in fir capital, as opposed to the millenial's spending habits on coffee and sky subscriptions they don't own?
 
Possibly bud, yes.
Although I'm sure there's a catch with the entire "Help to Buy" thing where you have to pay them back


There we go. I'm not sure I've heard of the LISA

It’s not a catch, it’s called a help to buy loan.

You buy a house with a 5% deposit and the government tops it up with an interest free 5 year loan of 20% allowing people to buy houses much more easily.

Is your mate twisting that the government want their interest free loan back? It’s very clear from the outset what the deal is.
 
Wish I could predict the future with that much confidence. I have no idea which party will be in power when I retire.
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.
 
They haven't lived through it unless they've bought a house since 08 or so. The housing market, which famously was globally fucked in that year, the subsequent availability of options being bought up en masse by hyper powerful landlords, lack of new houses, renting costing over half your salary and the failure for wages to rise in a decade while being outpaced by cost of living, *all at once* within this period. These are not conditions in which most people who now own houses or have mortgages bought one. That's just a fact.

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.

It gets tedious seeing people be shamed for their supposed fiscal incompetence by people who don't even know what a mobile phone bill costs. Millennials have experienced the two greatest economic catastrophes since 1929, within the space of a decade, at the least financially secure period of life.

Is it that hard to believe the post war global economy in which most people bought property, during the most sustained history of prosperity in world history, was an easier climate in which to buy a house? And that chances of doing so thereafter have more to do with the death spasm of that same economy, which is massively reliant on an inflated housing market as a stand in fir capital, as opposed to the millenial's spending habits on coffee and sky subscriptions they don't own?
Aye it’s much harder nowadays. Wish I’d lived in the seventies and worked down the pit, the good old days.
 
It’s not a catch, it’s called a help to buy loan.

You buy a house with a 5% deposit and the government tops it up with an interest free 5 year loan of 20% allowing people to buy houses much more easily.

Is your mate twisting that the government want their interest free loan back? It’s very clear from the outset what the deal is.

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

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