It's possible if you buy with someone and both have decent grad salaries, but yes... Kinda weird to buy with someone at 21 anyway!
Scratchcard.
It's how I got to bed Madonna.
How many of you still live with your parents 30+?
- Thread starter Ixon
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Scratchcard.
It's how I got to bed Madonna.
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Why is it? I just work hard.
Your maths isn't great, 5k x 5 is 25k lol...
Anyway I worked from the Monday following the Friday I left school until September where I started a training course 9-5 for 5 month. Left there to a job 2 weeks later. I worked my way from first line to a 'higher' team in first line, lets call it 1.5 lineThen moved to Second Line Server Support as an internal move, taking me to an okish wage from my not so good one after about 1 and a half year.
A year into that started doing on call and lots of overtime... By 2013 I was Technical Lead of the team so on a (all be it small amount) but more money and on call 2 in every 3 weeks and it was a busy on call along side overtime.
Then last October I moved companies to a Third Line Wintel role, where I am now Technical Lead and on call. So, age doesn't matter.. You just have to work for what you want and put in the hours and anything is possible. I'll not put my wage on here, but it is a lot higher than the average.
Well you need extar 5k for stamp duty fees etc
Anyways yes as i stated to you mate its possible but as you just described. you diddnt go college/uni and got right in the ladder.
As i said, saving 5k a year on your own for 5 years is doable but at your age you need to sacrafice College/Uni.
The problem is you need college/uni for some careers though and when your in uni, you automatically owe over 20k in dept of student fee's
I WILL STRESS AGAIN.
it is not impossible to gain a mortgage at an early age. Just not normal and very hard to.
Funny you should say this because actually *f'nar explanation of 'freehold' f'nar*.
Why think so bad of me? Of course I will help you out.
Don't know your age so hard to give this but:
Decide what you want to do in life, if you haven't already.
Get there.
How to get there?
Put yourself out there.
Don't sit back and wait for it to come, you go out, look for it, get it.
If you start from the bottom, push to work up. Put extra time in, in your own time don't expect the company to pay for it all. If for example you were in my line of work, find the best guy on the team and when you're free, sit with them and see what they do, take tips, learn things and ask for work from them so you get to do new things etc. Show you're keen and you will get there.
Bear in mind there are still a lot of companies that mess you about with rises, salary jumps will only be good when you move jobs. Depending on location and your industry some people may not be be able to company skip their way up to 60k salaries especially if it means having to move away as some may be reluctant if they have a partner, or need to look after family etc
I find some people who get morgages earlier in their years are either prelined with savings from somewhere (inheritence maybe) have been given, or have been extremely lucky with getting well paid jobs or skip their way up.
My friend and his gf for example have just been given 10k by family to put towards a deposit
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It's a lot more than 15k
Why does it have to be so hard without help? If you earn money and live at home, your outgoings aren't substantial so there is a lot of scope for saving... I didn't save for 5 year, I blew most of my money on cars and modifying them and lost most of it when selling them for the first few years of working.
Could you have read that more incorrectly?
But actually yes, I think it is.
I meant as a wage and not savings, yeah 25k is a good saving but not a wage that makes people think you earn a lot of money.
Considering the alternative is to pay someone else's obligation to a bank I know which situation I'd rather be in.
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Well now the plot thickens.
So your not an average 21 year old who has earned decent salary at that age. You seem like someone whos earning a considering huge chunks of wage for your age.
To blow most of your doh in cars etc and still have deposit for a mortgage in the space of 5 years is borderline impossible on an average wage!
The scenario i first described would be the normal scenario how an average joe teenager could get a mortgage at 21 but your scenario is way different and out of the norm...
My mortgage will be paid at 41, if not before. It's a lot sooner than most people, hell the thread this guy is about hasn't even moved out and he is that age!
Very true - My jump from 1st to second line got my first 'big' rise (back at that wage anyway) as it was agency to permenant then I got little ones through second line. Then to get anywhere else, I had to move companies and did for a 50% rise on my basic salary and about 50% more Overtime/Oncall than I was getting. I got a payrise of £360 in this year review, even after going to Technical Lead with no extra money. So I will be looking to get as much knowledge from this role, before moving companies to the next level for a higher salary.
Even more than 5K
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List all that 25k was deposit, not Salary!
plus you need an extra 5k+ for stamp duty fee! SO that 25k really is 20k going down for deposit!
plus you need an extra 5k+ for stamp duty fee! SO that 25k really is 20k going down for deposit!
Most people, if at uni, graduate at 21 - so even if on a helluva grad scheme at say £40k entry, which is more than many major London law firms pay, you have ~1 year or less to put money down on.... A London flat (££££), with presumably your awesome credit and employment history as a single buyer? Pretty insano.
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Considering the alternative is to pay someone else's obligation to a bank I know which situation I'd rather be in.
Your house cant be repoccessed if you cant pay for it
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it is insane. Check his recent post. he even blew most of his money(from 16-21) on cars and yet still managed to get a mortgage!
UMMM
Vore
Vore
Out the house at 17, family tradition.
I disagree, it just depends what you want in life. If you want a decent career then pursue it, don't sit back waiting. I am just 'an average teenage' (was).. I didn't get the best of grades in school, other than IT where I got an A, B in maths then the rest as C and below. But IT was where I wanted to work, so that's where I put my effort in school, out of school and when I started to work I applied myself where I needed to.
By 'Average teenager' it depends if you mean someone who has average grades or someone who doesn't want to progress their career?
Check his posts, he mentions he is in the north east. House prices are very different. There are 4 bed houses for less than £100k in Newcastle, for example.
Suddenly looks much more obtainable.
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Such enthusiasm. Give it 10 years and you'll realise that house you own in negative equity is forcing you to work a job you hate with alongside people you despise.
Life isn't a bed of roses.
Dose prices :|