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Don't take this the wrong way, but at age 20 with a combined income of £26k, I'm not sure you should be looking to buy your dream home. There seems to be this concept in the UK that owning your own home is the ultimate thing to aspire to, and even that everyone should have the right to own their own house. It simply doesn't work that way.

My thoughts are that in order to earn a better salary you may need to look further afield, and buying a house now would limit your options. The only reason we bought a house is because my girlfriend is highly unlikely to change workplace in the near future, and thus we won't be looking to move any time soon.

What I'm driving at is that not only does a low income restrict your mortgage/buying options, but also by buying a house you are somewhat limiting your options to increase your wages in future (i.e. it's harder to up sticks and take up employment a long way away).

Personally I would keep saving for a few years while trying to get better jobs. You may be interested to hear that the average age of first time buyers is now ~34, so at such a young age don't feel like you are missing out.
 
you are still 'young' so possible to live at home and save like crazy ??

That's what my g/f and I did for a few years and finally bought a house.
 
W00dy said:
The Bank of England will raise rates before Xmas again by 0.25% and maybe again next year, which may slow things down
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There is no certainty at all that we'll see another interest rate rise this side of Christmas.
It seems unlikely to fall again but it would also seem unlikely that a raise is on the cards either.
Next year is of course a New Year, however as house prices are slowing down (although generally still rising) without the need to increase interest rates then again there is nothing to say that an increase is on the cards (except for the doom sayers wo for some reason keep on going on about not owning your own property).

You cannot rely on interest rates to slow the market down - increase those and things can get nasty.
 
I'm 31 in November this year (my fiancee (to be wife in 3 weeks time) was 32 a couple of months ago) and we've only had our first mortgage for two years - so don't let the age thing get you going.

Although I was lucky in that I had some bloody good stock options from work that I cashed in to get my deposit and some equity sorted out for our house - we had to move out further from where I work.
I have a 45 minute drive to work in the morning (same to get home in the evening).
My other half has nearly an hour of bus rides to get her into work.
We had to move from where we were renting two years ago (25 minutes from work) because of cost.
 
Snow-Munki said:
you are still 'young' so possible to live at home and save like crazy ??

That's what my g/f and I did for a few years and finally bought a house.
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well tbh i think it depends on how big 'home' is.. if there is enough space for everyone to have adequate/enough privacy then theres nothing wrong with living at home.. its when you are always on each others toes and cramped then its not so good!
 
I think 2 bedrooms is a good idea, you and your girl use one room and let another girl rent the spare room

the extra bit from renting will help you financially and your lady will have someone else around to talk too, plus with 2 ladies in the house it should be spotless all the time
 
n3vrmind said:
I think 2 bedrooms is a good idea, you and your girl use one room and let another girl rent the spare room

the extra bit from renting will help you financially and your lady will have someone else around to talk too, plus with 2 ladies in the house it should be spotless all the time
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Hehe, I like your way of thinking :p :D
 
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