Any point buying my own home when I pay £250 Rent month

FoxEye said:
I was just going to say that. No way could I buy a house on £15k a year!

Actually I'm in the same (worse?) situation. 33, earning 15k a year, living at home... not a hope in hell of buying a house in this country.

I guess the stock answer would be "get a better job". Like I can just walk outside and into a job paying 60k a year :p

The powers that be have decided my job (2nd line IT support) is worth 15k. /shrug.

You get used to being poor.
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You want to stay in 2nd Line support forever?
 
If you're happy to stay then i don't see an issue with staying put.

I would still save for a deposit on a house for if/when you want or are forced to do your own thing as it takes some serious time to get that together.
 
dowie said:
If I were you I'd stay where you are (presumably its below market rates in your area for rent), cut down on the international holidays, start saving and looking for a better job/career advancement in your current job.

Once you've got savings, better salary and/or a partner to contribute some income then it might be a good idea to look at a house - I think on 15k a year you'd really struggle at the moment.
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Really great advice.
 
FoxEye said:
I was just going to say that. No way could I buy a house on £15k a year!

Actually I'm in the same (worse?) situation. 33, earning 15k a year, living at home... not a hope in hell of buying a house in this country.

I guess the stock answer would be "get a better job". Like I can just walk outside and into a job paying 60k a year :p

The powers that be have decided my job (2nd line IT support) is worth 15k. /shrug.

You get used to being poor.
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the stock answer is the correct answer though - go get a better job, no you're not likely to get 60k immediately from where you are now but whats stopping you from getting something that pays a bit more and moving on from there...

you're in a sector where switching employers is fairly common, contracting is common, picking up new skills is common

why not specialise a bit more in something you currently deal with at the moment, get some more experience in that area, command a better wage and have the option of contracting
 
jasonsony735 said:
I don't earn that much money may be like 15k a Year max.
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jasonsony735 said:
I could easily save for a deposit
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Those two statements do not mesh.

It would still take you a few years to save for a decent deposit assuming you have no savings now, you need to think about the ACTUAL future, 3-5 years down the line, not next week. Also buying a house on 15K would be insane, assuming you could even get a mortgage on that which I would be doubtful of.
 
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Tricky situation. My wife an I are living with her parents at the moment after gerting married last year and both getting jobs close by. We live rent free and everything done for us. We can easily afford a decent house but are thinking there's just no point in rushing at the minute and are happy to save up for that perfect house. Living with in laws is a pain at times but we have the biggest bedroom (and separate office) with an en suite so not too bad at all. I think op you need to be looking to save an put money away for when the time eventually does come that you'll need to move out but as things stand, if you're happy then stay put.
 
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Well from a 15k a year salary you'll be taking: £1,084.88 a month home of that, subtracting your current 250 rent, you have 834.88 left. I'd assume transport costs, food costs on top of that too.
 
shadow_boxer said:
Tricky situation. My wife an I are living with her parents at the moment after gerting married last year and both getting jobs close by. We live rent free and everything done for us. We can easily afford a decent house but are thinking there's just no point in rushing at the minute and are happy to save up for that perfect house. Living with in laws is a pain at times but we have the biggest bedroom (and separate office) with an en suite so not too bad at all. I think op you need to be looking to save an put money away for when the time eventually does come that you'll need to move out but as things stand, if you're happy then stay put.
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Have fun going to town on your wife with the in-laws within ear-shot.
 
Fulax said:
Last year my boiler broke down - landlord bought a new one; one of the radiators wasn't working - landlord replaced them all; shower handle broke - landlord put in a new shower.

Renting is the best.
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Carpet has come unnatached fro m the stairs, still not fixed over two years latter.
Outside panel on window smashed, still not fixed over three years latter,

Mate wanted to move in, LL wanted an extra 50% rent(and at the moment they still haven't budged). Despite us paying for house, not per person. Fees to change paperwork and a slight increase i n rent, fair enough. Over 1k for a run down house which they don't fix, garage leaks, bath/sink pipes haven't got enough gradient on them so water doesn't drain. Properly.
However they leave us alone and the rent is on the cheap side, and more importantly fed up f moving and don t want to move until i buy a house, sooner the better.

We aren't like other countries, renting is usually not sensible in this country. Rent a lot of the time is more than the mortgage and off course if you rent, no security at retirement.
 
Ouch living with family at 30 and only earning 15k, I'd sack the holidays off, get some training done and try and get a better paid job, then start saving for a house deposit.
 
randomshenans said:
Substantiate this statement.
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Which part, most eu countries renting is normal. Its not for the uk, we also have the house shortage and massive cost.
As for renting, everyplace I've rented is more than the mortgage. Be it plymouth or Bristol. As well as many others stating the same for other places. There are exceptions ofcourse.
 
randomshenans said:
This part.
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Hats common knowledge. Home owning, is not the same abroad as in the uk.
Unless you know otherwise and common knowledge is wrong, wouldn't be the first time.

Its probably in http://epp.eurostat.ec.europa.eu/portal/page/portal/statistics/search_database somewhere but cant find anything about renting at the moment.

Nix said:
So basically, what you're saying is move to another country?
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??
Not saying move abroad, im saying theres difference in markets. In a fair few eu countries, renting doesn't have the same stigma that it does here and is seen as more of the normal.
We also have the most expensive houses in the eu,

In Europe, prices for property are devised using a process of charging per square meter of property. In Spain, the average price per square meter in September 2010 was €1,849, 0.91 percent lower than the previous quarter for the year. In Portugal the average cost per square meter is €1,491. France's average is €2,386 per square meter, but that average is skewed because Paris bumps the average up by its own figure of €6,430 per square meter. The UK is one of the most expensive places to live with an average price in September 2010 of £165,596, which is equal to €194,786, making it the highest average in Europe.

Read more: http://www.ehow.com/facts_7272511_average-house-prices-europe.html#ixzz2hEUHsXFe
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OpethLover or PH46607 said:
This is a terrible, terrible way of looking at it.

Your paying his mortgage + some for him. Of course he will do this for you, your lining his pockets.

I rent at £500 a month and would love to be in the OPs position were me and the GF could save for our own House. There is having it good like yourself and being stupid and regretting not having a fall back plan.
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I'm sharing with 3 others, so I personally pay a fraction of his mortgage. I pay £200 per month - the boiler, radiator, shower, and all the other things he's done for us probably cost more than I pay in rent in a year. Either, I would happily pay him a bit extra on his mortgage to have him take care of household maintenance for me. I certainly don't see it as me lining his pockets - I see it as him providing a service for which I am happy to pay.
 
Fenris said:
Those two statements do not mesh.

It would still take you a few years to save for a decent deposit assuming you have no savings now, you need to think about the ACTUAL future, 3-5 years down the line, not next week. Also buying a house on 15K would be insane, assuming you could even get a mortgage on that which I would be doubtful of.
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I mean in like 5 years time , Also hopefully with a partner but if not then maybe a joint mortgage with my brother ;)

I just looked at my account balance and after my deductions from rent and food I am left with around about £600 to do with as I please so maybe I should wake up and start saving,

To be honest I do like the idea of setting up my own business venture , Easy ones like , Painting and Decorating that I'm good at or may be gardening business :) as I believe you don't need qualifications to do these , just be good at it.
 
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