Conway563
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Registered: 7th Jun 06
Location: Yate, Bristol
User status: Offline
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Yeah they say you don't need a deposit but there are only a few companies that do shared ownership mortgages now and they will all require a 10-15% deposit (of your share) plus when we were looking the rates were rediculous
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Half Pint
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Registered: 25th Mar 02
User status: Offline
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Ollie,
if you are to rent you need to be sure you will have money to live and money to save as that £1000 - £1200 a month living expense will limit your ability to save and use as a deposit once you want to get on the ladder.
as for house prices, well they will continue to bounce up and down, currently there is a shortage of properties available artificulally pushing prices up, once the market becomes flooded with houses for sale you will then see the prices come back down and even out.
to me it sounds like you just want out and your own space which would suit renting in the timescales... but have you not thought of going to auctions and buying a property needing work in a good postcode?
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Cavey
Expensive for solicitor too!
Not half....................£1600 for ours. For doing what sending a few bits of paper here & there 
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jr
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Registered: 20th May 02
Location: Kent
User status: Offline
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quote:
Originally posted by Half Pint
to me it sounds like you just want out and your own space which would suit renting in the timescales... but have you not thought of going to auctions and buying a property needing work in a good postcode?
My plan which is currently rivaling finishing the money pit 
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Ojc
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Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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I can't be arsed to save money that is the truth and I don't want to live somewhere where I want to move because I couldn't afford a bigger deposit, fuck this shit.
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John
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Registered: 30th Jun 03
User status: Offline
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quote:
Originally posted by Ojc at the start of the year
I just don't feel the need to move out, like ever? 
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Ojc
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Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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quote:
Originally posted by John
quote:
Originally posted by Ojc at the start of the year
I just don't feel the need to move out, like ever?
That as well. I'm only doing this as I feel at my age I should at least be considering it
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ajscorsa
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Registered: 30th Apr 02
Location: Perceton, North Ayrshire
User status: Offline
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I'm in 2 minds about renting at the moment. I do eventually want to own my own house but can't afford to at the moment.
Me and the mrs are both living with our parents but are desperate to get our own place. she suggested renting but I was against it as if we rent it will leave very little money tosave for a deposit. meaning it would be a long time before we got our own place.
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Ian W
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Registered: 8th Nov 03
Location: Wirral, Merseyside
User status: Offline
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quote:
Originally posted by Ojc
quote:
Originally posted by John
quote:
Originally posted by Ojc at the start of the year
I just don't feel the need to move out, like ever?
That as well. I'm only doing this as I feel at my age I should at least be considering it
Exactly why I moved out tbh, had it pretty sweet at home but felt a bit of a loser saying I lived at home having just turned 27
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a_j_mair
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Registered: 23rd Jan 04
Location: Scotland
User status: Offline
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the property ladder is called such as it implements the property market is like a ladder that you need to start at the bottom rung and work your way up to the top.
Everyone would like to move straight into a home they see thereself in for life but in reality it just doent happen.
You have to be realistic to what you want and the best way of achieving it
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Ojc
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Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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BOOM!
http://news.bbc.co.uk/1/hi/england/berkshire/8298285.stm
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ed
Member
Registered: 10th Sep 03
User status: Offline
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Think I'll rent for a few more years  I need to get a deposit saved up...
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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One thing to consider which hasn't been mentioned is monthly outlay.
How much rent/house keeping do you pay at the moment Ollie? About £200 probably?
Factor all that in, including your cars, food, going out, then consider all that plus an extra £600 going out of the account for rent. Plus heating and other bills.
Then you have to question whether you can save substantial enough amounts of money whilst running a house, even paying for rent?!
However the other good thing about renting and being in your own place is 1) seeing whether you can actually live with Rach 2) you are in your own place with more space than 1 bedroom at the parents. You may not want to go out every night and spend money. You'll be content with a frozen pizza, film and few beers.
All well and good saying what you can and can't do whilst renting. You simply need to sit down and look at the costs/expenditure involved.
[Edited on 12-10-2009 by deano87]
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Half Pint
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Registered: 25th Mar 02
User status: Offline
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i think we could all live with Rach... stupid boy!
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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quote:
Originally posted by Half Pint
i think we could all live with Rach... stupid boy!
Yea have you seen her?  
That is meant as a complement, mmmkay
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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stubbsy05
Member
Registered: 23rd Oct 02
User status: Offline
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I bought a flat in 2006 at 21, done it up and sold it and moved 6 months later into my house. MAde £30k on it so 20k went down as deposit on the house and the rest to cover works on flat and buying fees.
I'm now 24, House worth £135k, not much more than I bought it for. Mortgage for £108k.
I'm considering selling and moving to rent.
My circumstances have changed. New girlfriend and not wanting to live in this shithole all my life. I want the flexibilty of moving and living where and when i want in the UK.
[Edited on 15-10-2009 by stubbsy05]
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N16K
Member
Registered: 4th Oct 04
Location: Belfast, NI Drives: Corsa D SRi, Tuned Cooper S, B
User status: Offline
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Love renting, sold my place in the summer of 2007, have no intention of buying at the moment. No strings is the best way to live.
[Edited on 15-10-2009 by N16K]
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