I hate these downtrodden articles . In the north of England you can rent a lovely 2 bed for £500. 2 people either friends / siblings/ couple plus bills £300 plus food £200. Both on minimum wage that brings in £2k . That’s £1000 left a month ..roughly then you have treats and transport. Save that for 6 months you have the deposit for a house .
You can buy for £60k.
I bought my first flat at aged 21 alone after saving from all my Saturday jobs since I was 14, babysitting, eBay , anne summers parties , day time work , flyering ect ect. I rented my spare room to help pay my mortgage even though I was sick of house-sharing after leaving university.
Stop going out / stop getting taxis / you don’t need the latest iPhone / get out the trendy chain restaurants / cocktails are expensive / fashionable clothes are pointless .
I genuinely think everyone can afford their own home with a few compromises if you have the right attitudes and willingness to work .
Emma-Claude Phillips do a mathematical calculations of wage inflation since when you bought your flat. And compare that to the house price index.
Well stop smoking, stop drink binging, stop buying ready meals, stop going on so many holidays, stop buying the latest things, stop shopping in supermarkets and buying the well known brands. You soon save money in next to know time. Enough said. Rant done for the day .
I dont smoke, I don't drink, I don't have holidays, I don't even go out on a weekend, last time was at the start of the year for a friends birthday so please tell me what else I can do... I don't buy known brands, I don't even have my hair cut and I still need to sell my things at the end of the month to feed my child! So any more suggestions???
What a lot of people don’t realise is that the average wage nowadays compare to the average property price is ridiculous. In 1980 the average wage was £5,720 and the average house was £22,677. Nowadays it’s £27,600 wage and house price £272,000 according to the independent newspaper. You’ve gone from buying a house 4 times your wages to 10 times now. Any previous generation would struggle to buy a house in current times and conditions.
I know many young folk that stay with their parents well into their 20s and don't save for a mortgage, they go out every weekend and go on 3 holidays a year.
Yeah, In 2001, when waitresses weren’t on zero hours and the house prices were totally different, congratulations on living in a different time.
This does make me laugh. Nobody owns their house until every penny of that mortgage is paid off. Until then it all belongs to the lender! So that's at least 20-25 years.
I will never own a house, I've made my peace with that. There does seem to be an obsession with buying a house in the uk.
When renting you are just pissing money away, at least with a mortgage if you want you can take what you've been paying up to that point and "move up" into somewhere nicer, like saving up.
With rent you can't move up throughout your life without taking a huge hit on your monthly income.
The "obsession" comes from wanting to feel like you are making progress over the course of your life, not staying put.
Young people need to stop whinging and learn to budget!...
65% on rent
20% saving towards a deposit
10% saving for a pension
10% utilities and council tax
10% transport
10% food
10% student debt
5% clothes
5% leisure
Easy!!!
Why is it always about younger people..... Its people of all ages who can't afford a mortgage.... Or can't get a mortgage as can't afford to save for a deposit whilst also paying rent...... Plus, rental payments aren't taken into account as proof you can afford a mortgage! Until the banks change attitudes towards renters it won't change!
Round this way you can still get a decent terrace under £80k, but people don't want them. They want a new 4 bed detached with a garage as they think it's their right. No, it's not. You have to decide what you actually need.
So that is the reality for the rest of the UK is it? Get your head out the sand. You can't get a 2 bed flat where I live for under 300k.
I’m not quite sure where a lot of people on here got their economics degrees but you’re really quiet deluded. You need at least £10,000 for even the cheapest homes in England such as in Hull. (Where prices have risen about 15% in 5 years) but those places have the highest rates of unemployment according to the ONS. No one in the 70’s/80’s stopped going drinking to afford their first house so get of your high horse. Less young people go to the pub now than ever before hence why they are all closing. And in most cities in the UK you’d be lucky to get a 1 bed room flat for 100-150k. The article is saying that even with the right deposit, a single person can’t currently get a large enough mortgage on the average salary.
The problem is the same all around the world?
You can buy for £60k.
I bought my first flat at aged 21 alone after saving from all my Saturday jobs since I was 14, babysitting, eBay , anne summers parties , day time work , flyering ect ect. I rented my spare room to help pay my mortgage even though I was sick of house-sharing after leaving university.
Stop going out / stop getting taxis / you don’t need the latest iPhone / get out the trendy chain restaurants / cocktails are expensive / fashionable clothes are pointless .
I genuinely think everyone can afford their own home with a few compromises if you have the right attitudes and willingness to work .
Emma-Claude Phillips do a mathematical calculations of wage inflation since when you bought your flat. And compare that to the house price index.
Well stop smoking, stop drink binging, stop buying ready meals, stop going on so many holidays, stop buying the latest things, stop shopping in supermarkets and buying the well known brands. You soon save money in next to know time. Enough said. Rant done for the day .
I dont smoke, I don't drink, I don't have holidays, I don't even go out on a weekend, last time was at the start of the year for a friends birthday so please tell me what else I can do... I don't buy known brands, I don't even have my hair cut and I still need to sell my things at the end of the month to feed my child! So any more suggestions???
What a lot of people don’t realise is that the average wage nowadays compare to the average property price is ridiculous. In 1980 the average wage was £5,720 and the average house was £22,677. Nowadays it’s £27,600 wage and house price £272,000 according to the independent newspaper. You’ve gone from buying a house 4 times your wages to 10 times now. Any previous generation would struggle to buy a house in current times and conditions.
I know many young folk that stay with their parents well into their 20s and don't save for a mortgage, they go out every weekend and go on 3 holidays a year.
Yeah, In 2001, when waitresses weren’t on zero hours and the house prices were totally different, congratulations on living in a different time.
This does make me laugh. Nobody owns their house until every penny of that mortgage is paid off. Until then it all belongs to the lender! So that's at least 20-25 years.
I will never own a house, I've made my peace with that. There does seem to be an obsession with buying a house in the uk.
When renting you are just pissing money away, at least with a mortgage if you want you can take what you've been paying up to that point and "move up" into somewhere nicer, like saving up.
With rent you can't move up throughout your life without taking a huge hit on your monthly income.
The "obsession" comes from wanting to feel like you are making progress over the course of your life, not staying put.
Young people need to stop whinging and learn to budget!...
65% on rent
20% saving towards a deposit
10% saving for a pension
10% utilities and council tax
10% transport
10% food
10% student debt
5% clothes
5% leisure
Easy!!!
Why is it always about younger people..... Its people of all ages who can't afford a mortgage.... Or can't get a mortgage as can't afford to save for a deposit whilst also paying rent...... Plus, rental payments aren't taken into account as proof you can afford a mortgage! Until the banks change attitudes towards renters it won't change!
Round this way you can still get a decent terrace under £80k, but people don't want them. They want a new 4 bed detached with a garage as they think it's their right. No, it's not. You have to decide what you actually need.
So that is the reality for the rest of the UK is it? Get your head out the sand. You can't get a 2 bed flat where I live for under 300k.
I’m not quite sure where a lot of people on here got their economics degrees but you’re really quiet deluded. You need at least £10,000 for even the cheapest homes in England such as in Hull. (Where prices have risen about 15% in 5 years) but those places have the highest rates of unemployment according to the ONS. No one in the 70’s/80’s stopped going drinking to afford their first house so get of your high horse. Less young people go to the pub now than ever before hence why they are all closing. And in most cities in the UK you’d be lucky to get a 1 bed room flat for 100-150k. The article is saying that even with the right deposit, a single person can’t currently get a large enough mortgage on the average salary.
The problem is the same all around the world?