antscorsa
Member
Registered: 11th Aug 02
Location: london
User status: Offline
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25 next week and still live at home but i get on with my parents and can come and go and do what i want really!
saving £500 roughly a month for a deposit and hopefully next xmas ill of moved out into a nice place!
doesnt bother me for now, got my whole life to live in my own place might as well save and enjoy my money whilst i can before bills bills bills
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DannyB
Premium Member
Registered: 6th Feb 08
User status: Offline
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I'm in no financial position to even think about saving at the minute, I need a new job desperately.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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i'm 22 and the mrs is 20.
she moved from her home in scotland to mine when she was 18. then we stayed at my parents house for 17 months then moved out at the end of may this year.
it's nice having your own place but it's also a lot of work and worrying and a big commitment with regards to bills.
our mortgage alone is over £900 a month, then we have electric, water, gas, council tax at £110 a month, then tv license, sky tv/phone/broaband, petrol, insurance etc etc.
it's very hard work and i very much doubt i could do it myself, would take a lot of effort.
moving back in to your parents home seems to right thing to do as you will save a lot of money but also have your own space to do as you please, so to speak.
i had to partly move out due to wanting my own independence, getting tied down in a relationship very young and having 2 brothers, a sister, 3 cats, 1 dog, mum, dad and my mrs all living under one roof was a nightmare at times, especially with my shift work.
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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I'm living at home. I'm 22 years old. I will be moved out within the next 2 years hopefully
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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quote:
Originally posted by Joe
Has the age of moving out dropped dramatically or something? I really feel I should be moving out at my age but simply I could never afford to on my own but plenty of people seem to?
I guess if there was 2 incomes it would be perfectly feasable, but as a singleton there is no chance.
The average age for people getting their first mortgage is 31.
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taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
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live at home and will do for atleast the next 3 years till after my apprenticeship.
i am starting to save and even after a sesion talking big turbos with pals have still resisted any temptation and am still stuck to my guns in regards to the ferrari. although its only 5 days after i had the idea.... this is good for me.
girlfriend is broody and desperate to move out however. ive told her to save for a deposit which she is, she has a considerabley greater amount more free cash than i do each month and has agreed as by the time we move in it will be my wage that pays the mortgage.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Bout my 1st place when I was 22, sold it 5yrs later & moved into my parents for 6 months while my new house was being built. I was away 2/5's of the time at work but it was absolute torture!! Wouldnt go through that again!! 
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ed
Member
Registered: 10th Sep 03
User status: Offline
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24, rent my own place. London to Bham is a bit of a commute.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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I'm 25 - still live at home. I have plans to move out early next year. For a nice place round here you are looking at £200k which means a 20% deposit = £40k. Renting somewhere would mean it would be hard for me to save that.
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LeeM
Member
Registered: 26th Sep 05
Location: Liverpool
User status: Offline
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23 and still live at home, i barely see my mother and do what i want. why id want to move out, spend all my money and have to cook my own food and wash my on clothes is beyond me...
in all seriousness ill be 27 before my degree is finished so no plans of movin out until then, unless i get into a decent relationship and move in with her
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by James
I'm 25 - still live at home. I have plans to move out early next year. For a nice place round here you are looking at £200k which means a 20% deposit = £40k. Renting somewhere would mean it would be hard for me to save that.
mental isn't it? our deposit was only 10% and even that was £17,600 which takes a fucking lot of effort to save up
no wonder people are in their 30's and still living at home. anyone on 20-30k wages couldn't afford to buy a place on their own and also enjoy their life too.
it's ridiculous.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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25 still at home living the dream. Cant afford to buy on my own and the deposit will still be a problem when I come to do it!
Have to hope I find a rich lass
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ed
Member
Registered: 10th Sep 03
User status: Offline
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I don't see why someone in their 20's would be so hung up on buying a house. Ask your parents and grandparents when they first bought their house, and the probably take the advice of your grandparents. It seems obvious now, but our parents enjoyed being able to live beyond their means a few years ago, but it's getting hard work now.
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SAL
Premium Member
Registered: 19th Dec 05
Location: Radlett, Hertfordshire
User status: Offline
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25 / own place
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_Allan_
Member
Registered: 24th Mar 04
User status: Offline
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Moi - I'm 31 
Me and g/f bought our first house last year, although a new build it's being renovated slowly. . Took a fair amount of saving for a 25% deposit. Not to mention the £££'s to furnish it. I'm glad we waited tbh. The market is/was on it's arse, got a heathly price drop and decent fixed mortgage.
Have no problems living at home tbh. We both live in each others houses, house sit while parents are away and house sit for other people throughout the year. Should be moving out within the next month or two.
[Edited on 26-07-2010 by _Allan_]
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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quote:
Originally posted by ed
I don't see why someone in their 20's would be so hung up on buying a house. Ask your parents and grandparents when they first bought their house, and the probably take the advice of your grandparents. It seems obvious now, but our parents enjoyed being able to live beyond their means a few years ago, but it's getting hard work now.
I dont mind living at home in so much as I have plenty of free cash and get on well with my parents so there's no issues there. It'd just be nice to have my own place even if it meant I had to do my own cooking, cleaning, washing, wiping my bum etc.
Plus its going to get to a point where it gets embarrassing saying I still live at home
[Edited on 26-07-2010 by mwg]
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SAL
Premium Member
Registered: 19th Dec 05
Location: Radlett, Hertfordshire
User status: Offline
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All my mates who have there own places seem to have GF's
Doubt many could do it alone
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Paul_J
Member
Registered: 6th Jun 02
Location: London
User status: Offline
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quote:
Originally posted by James
I'm 25 - still live at home. I have plans to move out early next year. For a nice place round here you are looking at £200k which means a 20% deposit = £40k. Renting somewhere would mean it would be hard for me to save that.
And... even if you get that 20% deposit - then you're facing a fairly hefty mortgage (160k) ... so you're tied down to paying out a fair whack plus council tax per month for the next 30 years.
It may be controversial, but I'd be tempted when I have my deposit, to get a mortgage, buy somewhere then rent it out. Leave it under management (lose about 10% of rent) - that should cover the cost of mortgage, may even leave a bit extra left (depending on deposit) and then my money would rise or fall with the general economic climate.
Then I'd prob just move to london and get a job / expensive rent / live my life for a few years
Then when I'm ready to settle down I'll have the house to sell which will have been accumulating money from the rent and rising or falling with the market.
e.g. 5-10 years of rental income £30000-£60000 - on top of my deposit (say £40k for arguments sake) ... £70-£100k tied up... with an average house price rise of say 2% per year would mean that my original £40k has now matured to £120k in 10 years ... (ignoring tax).
Then take that money out and go buy somewhere properly (in the assumption I'll be ready to settle down by then).
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Paul_J
Member
Registered: 6th Jun 02
Location: London
User status: Offline
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quote:
Originally posted by ed
I don't see why someone in their 20's would be so hung up on buying a house. Ask your parents and grandparents when they first bought their house, and the probably take the advice of your grandparents. It seems obvious now, but our parents enjoyed being able to live beyond their means a few years ago, but it's getting hard work now.
I think the biggest reason is the fear of leaving it too late...
Housing prices have been rising for years (it may have eased / reduced now) - but my fear is, if I don't get somewhere soon, I'll never be able to.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Deposit on my 1st flat was £1800
Deposit on the house was £30400
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Paul_J
Member
Registered: 6th Jun 02
Location: London
User status: Offline
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quote:
Originally posted by mwg
Plus its going to get to a point where it gets embarrassing saying I still live at home
yeh, I can imagine... despite the fact the people renting / mortgage are skint / will be broke for a while.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Paul you seem to be full of 10yr plans, if I save such & such i'll be able to buy a flat & rent it out to matt then move to Tipperary.
Why not just buy some bricks & a front door & live in it & move up the ladder like 99.9% of folk do??
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Scotty C
Member
Registered: 6th Nov 05
Location: Kidderminster Drives: 1.6 16v Sport
User status: Offline
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I'm 24 still live at home. I pay £15 a week rent planning on getting a mortgage with my brother this year tho..
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harrisp
Member
Registered: 15th Dec 07
Location: Derbyshire
User status: Offline
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Im nearly 20, still living with my parents, but I am still an apprentice on shit wages and at college still, will be qualified within two years, then starting to save after a year or two, I want my own place by 25, but that all depends how things go.
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JonnyJ
Member
Registered: 23rd Sep 05
Location: Scotchland
User status: Offline
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I plan to live here till they die then BOOM free house.
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