House sharing

Scam said:
I was talking to rickjames. As we've discussed in the Savings thread, there's always a middle-ground. No point making yourself miserable for any extended number of years just to buy somewhere a little bit earlier. The way house prices are rising it might not make that much of a difference.

Anyways, young people will probably be saving for longer than 10yrs, given the average age of a FTB is 37yrs old :o Let's say the average career starts at 21 when you leave University, that's 16yrs saving. And that is going up due to the constant f-wittery that is our housing market.
Click to expand...

that's only because people want expensive houses for the most part and don't save.
with 5% deposits backed by government for most people it is easy to get on the property ladder in a short time period. Especially with cheap rent for 12-24months.

so its very much worth a short inconvenience than compared to buying at 37 after almost 2 decades of renting.

you need to be realistic about what you can afford and realise in the UK, unfortunately buying is the only sensible option long term. also realise house prices are unlikely to decline over such time periods and will surpass inflation, so the longer you leave it the worse off you are.
 
House shared for years and if situations like this arise they need to be acted on immediately otherwise it will become the norm and never change and potentially cause rifts.
 
This caused endless problems when i moved in with a couple of mates, it used to drive me mad. In the end i started leaving their mess around and only clean my own stuff to try to make a point, then they would have the cheek to ask why i haven't cleaned up!

BECAUSE IT'S NOT MY ****ING MESS!!







aahh man i'm happy to be out of there
 
where am I denying a housing crisis. I'm very much in favour of changing it. however that doesn't get round the fact of what I said. That's because it includes me and how I didn't listen to parents and others.
Its very much a part of modern life, people wont sacrifice and don't save. Yes its generalising, but that doesn't make it wrong.
For example despite mortgage being far cheaper, only 8k(iirc) my parents first house they had to save for several years and I mean both did all over time they could, scrimped by and put everything in to savings, when they moved in, they couldn't afford carpets or furniture. they took freebys and second hand. They didn't move into a nice big house in a nice area. How many people these days can you say have done that?
They exclude property in "dodgy" areas, they have a long list of what they deem must be in their first house. if you go to any of the mortgage threads its repeated time and again, how can I save 20% deposit. despite you not needing 20%, oh but I pay more on interest on a 5% mortgage. Same threads, there's oh cheapest house in the area is XXX you jump on right move and there's properties for half that price, but it's oh " that's a dodgy area" oh that's 3 miles further away than I want to live, oh it hasn't got 2 spare rooms etc.
How many give up holidays, how many people can easily afford to buy brand new furniture on credit etc.

There very much is a housing crisis, which is going to get worse. That doesn't mean people aren't silly compared to older generations though and wont sacrifice as much.

personally I think a roof over your head should be a basic human right, and I think the government should force councils to make land available for things like https://en.wikipedia.org/wiki/Tiny_house_movement
it would also help to limit house price rises as less buyers out there, but would still be plenty who want traditional property, without causing a market crash.
if you want a nice house then fine, get in massive debt. if you want somewhere to live that gets destroyed when you die and not used as inheritance than that option should be available to all.
 
Last edited:
Glaucus said:
where am I denying a housing crisis. I'm very much in favour of changing it. however that doesn't get round the fact of what I said. That's because it includes me and how I didn't listen to parents and others.
Its very much a part of modern life, people wont sacrifice and don't save. Yes its generalising, but that doesn't make it wrong.
For example despite mortgage being far cheaper, only 8k(iirc) my parents first house they had to save for several years and I mean both did all over time they could, scrimped by and put everything in to savings, when they moved in, they couldn't afford carpets or furniture. they took freebys and second hand. They didn't move into a nice big house in a nice area. How many people these days can you say have done that?
They exclude property in "dodgy" areas, they have a long list of what they deem must be in their first house. if you go to any of the mortgage threads its repeated time and again, how can I save 20% deposit. despite you not needing 20%, oh but I pay more on interest on a 5% mortgage. Same threads, there's oh cheapest house in the area is XXX you jump on right move and there's properties for half that price, but it's oh " that's a dodgy area" oh that's 3 miles further away than I want to live, oh it hasn't got 2 spare rooms etc.
How many give up holidays, how many people can easily afford to buy brand new furniture on credit etc.
Click to expand...

The deposit isn't really the issue for me, as so far we've saved £23,000 so 30k wouldn't be inconceivable and that would give 10%

The issue is that the house prices in my area (Chelmsford, south east) are so high now (300k for a 2 bed) that our combined income (approx £50,000 a year) is only enough to borrow 175k

Even with a 30k deposit I would be 100k short of being able to afford a place.


And even the absolute roughest areas (I know, as I went to school in one) have the same silly house prices.
 
and yet on rightmove, within 5 mile radius of Chelmsford there's 2 bed flats for under 200k.

I don't think you read what I typed, as you fall into what I talked about.
 
Glaucus you're just derailing the thread. The age-old argument that our parents/grandparents scrimped and saved and went without is all rather pointless. Back then people only needed to borrow 3x their salary to buy houses, now it's much more than that. That means back in the day the deposits were a lot smaller relative to income which meant you could give up your life for a year or perhaps even two at the very most, to pull together a deposit. Now you can do that, but you'll be doing it for 5-10+ years which is essentially your whole young adult life. Honestly, ask pensioners nowadays how long they saved for their first deposit and it's probably less than a year. The difference is huge. The whole argument of "that's what they did so we should too", doesn't really apply because we're not talking about the same sacrifices. Anyway, our ancestors lived in caves and ate one meal a day. Should we do that too?

As far as people not willing to make sacrifices, I think we're actually getting to the point where most young people think killing themselves to buy a tiny, crappy flat for £300k in the South East is not worth it. We've jumped the shark. As much as people want to own their home because it's better than renting, they're also thinking that actually they're just not willing to pay that much.

EDIT: Picking out single properties doesn't work. On the page you linked it shows the averages for that postcode:

Semi-detached £344,508
Terraced £286,882
Click to expand...
That would give anyone the red flag over what is wrong with that property.
 
In late 2012 we were on the verge of buying a 2 bed end terrace house for £208,000 with garden and parking.

Seller pulled out so we had to quickly scramble around to get a rental property.

The house we were going to buy has increased in value in 4 years by 50%.

I should now mortgage myself to the hilt on a 1 bedroom maisonette that doesn't even have a shower just to own somewhere? No thanks.
 
Scam said:
snip
Click to expand...

what utter rubbish.
y=people don't have to buy an average house, you can, I don't know buy a starter property. so picking out single properties is perfectly acceptable.

an yes it is relevant that are parents scrimped and saved and purchased starter homes, and didn't go in at the average.

yes housing market is an issue. but not like you and others are making out.

VincentHanna said:
In late 2012 we were on the verge of buying a 2 bed end terrace house for £208,000 with garden and parking.

Seller pulled out so we had to quickly scramble around to get a rental property.

The house we were going to buy has increased in value in 4 years by 50%.

I should now mortgage myself to the hilt on a 1 bedroom maisonette that doesn't even have a shower just to own somewhere? No thanks.
Click to expand...
on 50k its not mortgaging your self to the hilt at all.
and yes unfortuntley that's the country we live in, you have to accept things aren't going to be solved in short or medium term.

so what you going to do? carry renting and watch prices go up far faster than inflation again? and in 4 years time be even worse off in the same position?
I don't understand how you can post what you just did and not realise that getting on the market is a smaller place/ worse house is not beneficial to you.

oh no, its not like showers can't be fitted.
 
Last edited:
Tosno said:
Maybe he wants a VincentHanna Jr to carry on his detective work? He's at the age now. Flats are no place to bring up a family, they are even bad for dogs.
Click to expand...

maybe in 2 or so years you upgrade, and if he, me and others realised this when we were younger, we would be like the sensible people with big houses. but because we didn't buy we are 10's of thousands worse of and yet some people even after doing that, still have come to their senses.
 
To get on the property ladder it makes more sense for me to get a new built flat somewhere (slightly) cheaper like Southend, with good transport links to London and rent it out to cover my mortgage

Which is bizarre really.
 
Glaucus said:
maybe in 2 or so years you upgrade, and if he, me and others realised this when we were younger, we would be like the sensible people with big houses. but because we didn't buy we are 10's of thousands worse of and yet some people even after doing that, still have come to their senses.
Click to expand...

Maybe the housing market will crash in 2 years time and VincentHanna Jr will be stuck in a flat with no garden and ViencentHanna Sr will be all stressed doing detective work in the local park making sure no crackheads left their dirty needles.
 
Tosno said:
Maybe the housing market will crash in 2 years time and VincentHanna Jr will be stuck in a flat with no garden and ViencentHanna Sr will be all stressed doing detective work in the local park making sure no crackheads left their dirty needles.
Click to expand...

perhaps the sky will implode. if you are going to play that game, you might as well never do anything.

house prices have and will continue to beat inflation on the medium to long term. even if there are temporary dips.

by doing what he has already gone, he will carry on pricing himself out the market by waiting and being able to afford less and less over time.

so you can either suck it up and get something less than optimal, or carry on moaning and becoming financially worse off.
there is no interest from government to even attempt to sort the issue out, so no point waiting for a miracle which isn't even on the table

see and this is the issue, you haven't offered any solution, you've just moaned.
 
Last edited:
You must log in or register to reply here.
Back
Top Bottom