Getting on to the property market can be hard, but teaming
up with someone be it a partner, friend sibling, even getting your parents to
help you to give you a leg up into the property world can help do the trick,
plus having savings too, but at times that can even be hard to do with living
costs hiking up year on year.
Whilst some feel it can be an impossible dream, especially
when you are forking out an arm and a leg, throw in some blood sweat and tears
to even out the scale, the older and younger generation can find themselves
thinking, that yes, it is an impossible dream and that is all it will be and we
will forever be paying off someone else's mortgage other than our own and
facing ridiculously high rent increases year on year.
Location, location, location
You have to really think, sit down and weigh up your options
whilst renting may be easier, is it really affordable in the long run, do you
stay in a city where you know property prices surge or step outside of your
city life and live somewhere more rural, where it will be cheaper to live and
saving you some extra cash, that is where I am currently at, but then I weigh
up travelling costs and thinking is it worth it to travel so far daily with a
kid in tow, who is just about to start school! Whilst everyone's position is
different, moving out of the most expensive areas in for a short period is
never a bad idea.
Parents
If you don’t want to
move back into your family home, maybe your parents can help you get on the
market in other ways. Take a look at SunLife who have some great advice for
parents wanting to help out their kids
Part buy
So many people have taken to this route where a vast deposit
is not needed, whilst you may not own the property outright it is a starting
point and a way to get your foot in the door, enabling you to save and chip
away at the remaining percentage until you own it outright or have the vast
majority.
Chill nights in
Saving not splurging can help you save, instead of opting
for nights out, cut back on the weekly night out and opt for a night in with
some popcorn a good movie and ditch the takeaway and whip up some homemade
Chinese sweet sticky chicken wings to help save you a little extra dough
towards that dream home of yours.
Make your dream a reality
Simple really, in order to vision what you want, go and see
what you want, nothing wrong in booking a few viewings, look at the location,
look at the homes available to get an idea of what you want and how much it is going
to cost you, to get a real sense of your price range you really need to know
what is on the market. In recent years first-time buyers have typically used a
20% deposit to buy a house, so factor that in when you are going on your
viewings.
Have you been saving for a deposit? How did you do it, where
did you start? I would love to hear your comments below....
If you like this post, you can follow me on social media
Instagram For daily shenanigans
Bloglovin for more blog posts
Twitter daily ramblings and other nonsense
Pinterest for what I am currently craving and lusting after
Facebook for recipes and updates
London Mumma
No comments
Post a Comment