Do as I say, not as I do, durrrrr
Mortgage Rate Rises
- Thread starter glenimp617
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Soldato
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I just couldn't afford to get on the property ladder any other way. Could only afford a small two bed semi at the time. But thanks to paying that off and selling it along with savings and contribution from the Mrs, we now have a four bed detached nearly paid for. And this is only 20 years after.
So it was the right decision to stay with the family and save for a deposit and wait until I had the funds to make the step.
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Soldato
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It blows my mind that someone would have had 2 kids and a divorce by 29.
Horses for courses and all that
Did you think I was somehow suggesting that was a design for life?
My point was it's a sign of a broken market that some have no choice other than to live in their childhood bedroom until they're well into adulthood, that's a decade of adult experience lost.
I assume you're an advocate of avoiding life not working out by staying at home?
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Soldato
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In life you just make the best of whatever situation you find yourself in 
Always look forward and try to improve your lot.
I really don't think living at the family home reduced my progress as an adult though. I seem to have done ok so far
Always look forward and try to improve your lot.
I really don't think living at the family home reduced my progress as an adult though. I seem to have done ok so far
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Soldato
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I think the point being made is whether it is best in an ideal world. And the answer there is clearly no, if you could have the complete freedom and money was no object, we would all be better having been able to leave home at 20 and build life experience, and enjoy your youth because it doesn't last long.I really don't think living at the family home reduced my progress as an adult though. I seem to have done ok so far
The further problem is that it is getting worse. Ok you could argue leaving home at 25 is ok, and leaving home at 30 is not the end of the world (although 10 lost years by then), but what if affordability problems push that to 35, 40, 45? Where does it stop? Leave home at 60 just in time to retire?
There is no ultimate meaning of life, but one case for one could be that since there is no higher power, then the objective in life is simply to have fun and take every opportunity. That is a realisation that has happened since we have dropped religion in the western world. That objective is not helped by being stuck at home until you're middle aged.
In life you just make the best of whatever situation you find yourself in
Always look forward and try to improve your lot.
I really don't think living at the family home reduced my progress as an adult though. I seem to have done ok so far
It's very true.. and people do tend to assume that whatever they've done they know best and I'm quite sure I do it too..
But you were moralising a few pages back about people having to live within their means and not have the flashy holidays and cars and whatnot and failed the mention the small print of "and wherever possible have an accommodating family with the space and willingness to house you well into your adulthood so you can save" not to mention other I guess you could call "life choices" such as choosing jobs/partners etc that are within travelling distance of that family home etc etc.
I mean, you could easily argue that I couldn't, my parents did and still do live in a 2 up 2 down in West Yorkshire, I'm shocked every time I go to see them just how small it was, the concept of any sort of privacy etc if I'd stayed would have been impossible. We'd have been entirely on top of each other.
And that's with family that I'm sure would have had me and still would if I really needed it, plenty of people don't.
My point is whilst these are pragmatic decisions, the fact they even have to be made by many is a symptom of a broken system.
It's not a judgement of the people who do or don't, in my mind it's a sad indictment of life in the UK right now.
The fact that some choose to back that up with a suggestion people have made that choice because of too many avocados is just more of the politics of bitterness tbh.
Really, you need
-a good job relative to the area
-a relationship with two earners on OK jobs
-a gifted deposit/inheritance
To get on the housing ladder and end up mortgage free
For me it was the salary multiplier that I found the main issue until I was in a stable Relationship
-a good job relative to the area
-a relationship with two earners on OK jobs
-a gifted deposit/inheritance
To get on the housing ladder and end up mortgage free
For me it was the salary multiplier that I found the main issue until I was in a stable Relationship
Some people have always stayed home longer. When me and two other guys were living it large in a terraced house back in the '70s, a couple more were still living at home. They came to all the parties mind but returned home the next day.
Soldato
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You can get a deposits together without the gift if you both earn and save, but it’s much harder.
The other two are a must if you want anything resembling a family home.
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Soldato
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That will be the next logical step. One salary to get a mortgage turned into two salaries now required. Next logical step is three salaries required, which will require a change in our moral structure to allow polyamorous relationships.
No gift for us. So took a while. Also didn't get the boost from the job until after buying. Typical!
Without that dual income, at the time, it's be looking at a max lend of 140ish on a 4x
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Who said you're not getting another fella in?Future isn't looking so bad after all!
This is true! The Chads of the world would hoover up all the hotties.
The brads would hoover up the left overs.
And all the Daves would end up in.. The pile!
"back to the pile"
All this talk of gifting children money to get on the housing ladder, something went wrong with my setup then as I was the one who had to pay off the last of my parents mortgage a few years ago!
They went on interest only after the 2008 crash and had no way of paying off the capital balance, so to stop them having to sell up their "forever home" I saved up and paid it off when it became due.
They went on interest only after the 2008 crash and had no way of paying off the capital balance, so to stop them having to sell up their "forever home" I saved up and paid it off when it became due.
My wife and I did it with no gift or inheritance, but we only needed a 10k deposit for our first place so we just saved whilst renting for a few years.
I can appreciate that it's harder now though as that was 10 years ago.
We benefited greatly by being able to use the help to buy on new builds scheme (IE the extra 20%) on both our first and second place too. We likely would not be in as nice a house or area if it wasn't for that.
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Soldato
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Moved out at 27 which doesn't seem to be out of the ordinary these days.
Soldato
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Approaching 30 I was just starting to get some stick for it at work 
I made a vow to have my own house before 30
I had 5 months to spare in the end.
I made a vow to have my own house before 30
I had 5 months to spare in the end.
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