chunk89
Member
Registered: 16th May 07
Location: Huddersfield
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how old where u wen you moved out and got on the property ladder? and did you rent or get a mortgage. because me and my girlfreind are thinking of moving out into a 1bedroom flat and i was just wondering how old you were and what job you where in.
because im 18 and hopefully getting an aprrentiship in mechanics around £500 a month (if i dont get it i wont be thinking about moving dont worrie) and my girlfreind is 20 and works in an industrial estate as a rectionpist brings home about 200 a week. so just looking for advise really thanks
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Kathryn W
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Registered: 12th Oct 03
Location: Widnes, Cheshire
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Im 19, moving out within the next month or so.
I'm buying my own property with my partner who is 21..
Togeter we bring in around a £1k a month give or take a couple of quid
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chunk89
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Registered: 16th May 07
Location: Huddersfield
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so you are taking out a mortagage then? and what kind of property you moving into
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Kathryn W
Member
Registered: 12th Oct 03
Location: Widnes, Cheshire
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Yup we're getting a mortgage with a 5% deposit, we were lucky as there's very few now that are taking 5% deposits with a lower lending charge...
Here's the property http://www.mylerestates.com/property/1204161
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chunk89
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Registered: 16th May 07
Location: Huddersfield
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so your able to run a house hold off 1k a month? how many cars do you run? because im just worried that it will come to that we have 100 a month free because of all the bill and things like that
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scoob
Premium Member
Registered: 16th Oct 03
Location: Beverley, E Riding of Yorkshire
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i was 21 when i bought my first house i got my mortage with halifax
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Kathryn W
Member
Registered: 12th Oct 03
Location: Widnes, Cheshire
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Ooops i meant we'll have £2k, run one very thirsty car haha... we wont have much free not as much as we do now but we can easily do it and have a treat a month etc....
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Colin
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Registered: 4th Apr 02
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22 - mortgaged.
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chunk89
Member
Registered: 16th May 07
Location: Huddersfield
User status: Offline
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so who thinks moving out at the age of 18 is a bad idea?
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Kathryn W
Member
Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
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Wouldnt say it was bad, you just need to be in a sensible situation and have a bit of money behind you...
There is no right or wrong time in getting your own place, at the minute it isnt the time to be buying, tbut i think renting is quite pointless
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scoob
Premium Member
Registered: 16th Oct 03
Location: Beverley, E Riding of Yorkshire
User status: Offline
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quote:
Originally posted by chunk89
so who thinks moving out at the age of 18 is a bad idea?
imo far to young but if ur only renting you could try it
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chunk89
Member
Registered: 16th May 07
Location: Huddersfield
User status: Offline
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but wen you first start renting its hard get in your own place because you have to keep up with the rent
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scoob
Premium Member
Registered: 16th Oct 03
Location: Beverley, E Riding of Yorkshire
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it would be better to stay at home and save up a deposit for a mortgage
[Edited on 28-05-2008 by scoob]
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chunk89
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Registered: 16th May 07
Location: Huddersfield
User status: Offline
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what is a respectable deposit would you say?
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Kathryn W
Member
Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
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Well you need at least 5% of the purchase price for mortgage..
Renting can be very expensive to.. renting you need a good few grand behind you
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chunk89
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Registered: 16th May 07
Location: Huddersfield
User status: Offline
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ok thanks for all the help ive come to the conclusion that im going to get a few grand behind me before i start looking
[Edited on 28-05-2008 by chunk89]
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chunk89
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Registered: 16th May 07
Location: Huddersfield
User status: Offline
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how much is your 5% kathryn W btw?
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BYRON
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Registered: 1st Jun 04
User status: Offline
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quote:
Originally posted by Kathryn W
Well you need at least 5% of the purchase price for mortgage..
Renting can be very expensive to.. renting you need a good few grand behind you
Generally a months advance rent isnt it?
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--DAN--
Member
Registered: 3rd Feb 03
Location: Bottesford. Drives;3 Series
User status: Offline
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quote:
Originally posted by BYRON
quote:
Originally posted by Kathryn W
Well you need at least 5% of the purchase price for mortgage..
Renting can be very expensive to.. renting you need a good few grand behind you
Generally a months advance rent isnt it?
Thats what I thought
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--DAN--
Member
Registered: 3rd Feb 03
Location: Bottesford. Drives;3 Series
User status: Offline
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I rented at 18 and got first mortgage at 19.
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
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18, bought outright, student.
(Aaron - now your reply to this...)
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
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I'm 19 and looking to move out this year.
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Neo
Member
Registered: 20th Feb 07
Location: Essex
User status: Offline
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I'll be 20 when i move out. Gf is off to uni this september. She's going to be in halls the first year and i'm going to save up while she's away, hopefully get 10 - 12k stashed away and try and get on a part buy part rent scheme when i move.
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stubbsy05
Member
Registered: 23rd Oct 02
User status: Offline
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21 I moved out and got a mortgage for £83K with a 5% deposit. Was on 20k salary at the time.
Personally I think 18 is too young. I'm now 23 and kind of miss my disposable income and the no financial commitment!
Get out there and have a laugh first, wait till the mortgage rates drop then think about buying imo
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stubbsy05
Member
Registered: 23rd Oct 02
User status: Offline
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My gf is studying at the moment. I'm not really thinking about moving until she's got her full time job because then we can get a joint mortgage.
(still keep my house but let it out)
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