Need to get on the property ladder (22)

Dup · 2 Oct 2006 at 23:43

[TW]Fox said:
And home does not always equal no independance.

I even have to wash my own stuff

I don't pay rent at home... I just pay my mum to wash my clothes. Mainly becasue the 2 times I've used a washing machine they've had to be replaced... expensive!

I'm 21 and have just bought a house. I earn less but I am buying with my girlfriend. If anything it's an incentive to make something of yourself becasue if you want something material, you have to work doubly hard to get it.

Plus if you're handy with your tools or know the right people the house in itself can be a great investment in itself.

[TW]Fox · 2 Oct 2006 at 23:46

Dup said:
I'm 21 and have just bought a house. I earn less but I am buying with my girlfriend. If anything it's an incentive to make something of yourself becasue if you want something material, you have to work doubly hard to get it.

I agree with your circumstances though. The time I will consider buying a house is when I've got a stable long term relationship I can see going somewhere and not before

It's different when its like that.

cheets64 · 2 Oct 2006 at 23:46

Mohinder said:
Why's that in quotes?

Extras tv show, its Ricky Gervais catchpharse.

Sorry

Dup said:
I don't pay rent at home... I just pay my mum to wash my clothes. Mainly becasue the 2 times I've used a washing machine they've had to be replaced... expensive!

I'm 21 and have just bought a house. I earn less but I am buying with my girlfriend. If anything it's an incentive to make something of yourself becasue if you want something material, you have to work doubly hard to get it.

Plus if you're handy with your tools or know the right people the house in itself can be a great investment in itself.

You got 2 wages coming in, thats more than enough to pay the bills and go out and have some fun.

Deadly Ferret · 2 Oct 2006 at 23:47

cheets64 said:
A rolex for £1000 "you having a laugh"

He certainly is with his £100 fancy hotel room!

NickXX · 2 Oct 2006 at 23:51

starscream said:
Independence > Flash car was what I was trying to get at

At the moment I can't see what benefit moving out would bring. I would like to be on the property ladder purely for the long term financial benefit, but being long term I don't see the rush in getting on it right away.

At the moment I have all the space I want at home and enough cash to buy whatever I want. Buying a place would bring about a lot more negative changes in my lifestyle than it would positives.

chrislusty · 2 Oct 2006 at 23:55

[Sniper][Wolf] said:
Stuff

I am in the same boat, however i am getting married next year, so need a house.

Between me and me fiancee, we have 12K saved, we have a combined income of 30k and after having a chat with a finacial advisor today, we can borrow up to 130K. this is based on a 95% mortgage with 5% deposit.

This is over 35 years, and we are paying around 600-700 each month for the mortgage.

You will need to speak to mortgage advisors and people in the know, what prk of wales are you from? I livein Caerphilly at the moment, but cant afford much here, will have to move up the valleys.

You will struggle only earnig 14k and on your own to find a mortgage though.