£15/hour

[muttley9050]

No small chip sorry, but Bucks is worlds apart from west Yorkshire, i am not in west yorks and  i thought there was nothing cheap around me that first time buyers could afford but i was wrong on that one, 2 bed flats on a estate just round corner from me over looking a field, river and a golf course for 120k,

Can get a one bed flat in milton keynes for about 100k I think. Personally I wouldn't live in one if they were giving them away but hey ho.

[carlos]

On 02/10/2021 at 21:48, Mark Bolam said:

I do feel sorry for the first timers though.

 

Young couple - ‘Can we have a mortgage?’.

 

Bank - ‘No, you can’t afford £500/ month’.

 

Young couple - ‘We are paying £1000/month rent now, we can afford £500/month mortgage’.

 

Bank - ‘Well how come you can’t raise a 15% deposit then?’.

 

Young couple - ‘Because we are paying £1000/month rent).

 

Not an easy problem to fix.

 

hit the nail on the head there id say

[Big J]

28 minutes ago, muttley9050 said:

1 hour ago, spuddog0507 said:

No small chip sorry, but Bucks is worlds apart from west Yorkshire, i am not in west yorks and  i thought there was nothing cheap around me that first time buyers could afford but i was wrong on that one, 2 bed flats on a estate just round corner from me over looking a field, river and a golf course for 120k,

Can get a one bed flat in milton keynes for about 100k I think. Personally I wouldn't live in one if they were giving them away but hey ho.

The absolute minimum you can buy a reasonable family house here is about £500k. By reasonable, I mean 4 beds (so as to have a spare for visiting family - important when they aren't just around the corner) and about 130 square metres on a plot that isn't a postage stamp. It's genuinely out of reach of us, and so many others.

[trigger_andy]

You come across now as having a small chip.
Agree with some of what you said. Wouldn't get a single garage for 100k round here though.

Don’t live round your way if you want to get a foot hold on the ladder then? 🤷‍♂️

If someone in your neck of the woods wants to get in then they need to move away, buy a £100,000 fixer-upper, do it up and flip it. Rinse and repeat. If they’re still desperate to move back they’ll be in a position to eventually.

[trigger_andy]

The absolute minimum you can buy a reasonable family house here is about £500k. By reasonable, I mean 4 beds (so as to have a spare for visiting family - important when they aren't just around the corner) and about 130 square metres on a plot that isn't a postage stamp. It's genuinely out of reach of us, and so many others.

Define “here”. I assume you mean around your way and not the U.K. as a whole?

[trigger_andy]

I love how all the home owners are preaching how clever they were to buy a house decades ago for pennies.
Congratulations.
Now **************** off, because there are millions of us who will never afford to own a home.
Millions on minimum wage or low paid jobs.
It’s not having the balls to buy somewhere…
Every single person of my generation I know got the deposit off there family.
You can’t work pay rent and save 20-50k…
This world is deeply ****************ed.

I find this a bit insulting Saul.

You’re 3 years older than me and I was offered a 30 year mortgage, so your age is not an issue.

I picked Berries, Daffies, Bulbs and Tatties as a kid because we where flat broke. I’ve never had a penny given to me. I stared out on £40 a week and I had to pay £20 of that in rent to my mum.

After my first apprenticeship I had to start a second as there was no jobs as a mechanic.

I’ve worked my arse off my whole life to afford anything and have had zero help. To be able to afford a house again after losing everything in the last crash I’ve had to make a lot of personal sacrifices.

[spuddog0507]

8 minutes ago, Big J said:

The absolute minimum you can buy a reasonable family house here is about £500k. By reasonable, I mean 4 beds (so as to have a spare for visiting family - important when they aren't just around the corner) and about 130 square metres on a plot that isn't a postage stamp. It's genuinely out of reach of us, and so many others.

Where is here Devon ? there seem to be a lot of negative comments and thoughts on this, you moved from north of the border to Devon and i would say there is a big jump in house costs between the 2 locations, a  4/5 bed detached house with double integral garage around me would be around 380-400k but that is hardly a first time buyers property that is some thing you buy 15-20 yrs after getting on the ladder, you chose to make the move to Devon and i now taking it that you are saying you cant afford a house there as you say you are on the move again, so i have to ask why did you move there and not some where inbetween where you may be of been able to buy your own place ?,

[daveatdave]

20 hours ago, spuddog0507 said:

This might be a bit boring but its based on facts that i can remember,

I bought a house in 1985 at a cost of 22.5k, at that time i was self employed on £3.50hr labouring for a builder, at this time a pint in the local was 70p a pint, so to put that in to perspective for the cost of my house would of been 32,000 pints of beer,

i have just looked at what simular houses sell for today and i would be looking at around the 200k mark, i dont know what a average person earns today but i do know what ale costs and its getting close to a fiver today, so a 200k house would be 40,000 pints so something has changed ? this above is based on a simular property that i bought but there is 2 bedroom flats available for 120k which puts it in to a better perspective for todays first time buyers,

Then there is several other things to take in to consideration which all add to the equation, if you run a car/van today the insurance when you have past your test is outragouse today at around 2-2.5k, my first van was at 17 and was a Bedford HA viva van and the insurance was £42 for the year and at that time it was just over a wks wage, So with todays youngsters paying stuppied amounts like that this will hamper saving, 

Then today we nearly all have a mobile phone in our pockets and this comes up on every expence sheet when applying for any sort of finance as today it is taken for granted that you have a phone and it is a expence, but back in the mid 80s mobiles where just about here but not many had them, if i wanted to make a call i had to find a Phone box and hope i had either a 2p or a 2 bob in my pocket,

In our small town back in the 80s we only had 2 chippy.s and there was only one of them open after 7pm ,we had no Indians, Chinese, or Italian take away,s today we have 2 Indians, 3 Chinese, 5 Italian take aways and a subway plus many other day time take away,s and there is all ways some one in them, We dont have a Mcdonalds, Kentucky or Burger king as yet but what we do have is several ice cream parlours and sit in desert bars ! well thats what i call em, 

So to sum it up YES things have changed but i dont think someone in there 20s to buy there first property is out of reach by a long way, its just all the other costs they have that we did,nt back in the 80s/90s, when it comes to that expence sheet there will be a phone contract, car insurance, credit card, loans etc this lowers the chances of being able to qualify for a mortgage today, and with the expences they have today that are now taken for granted hampers saving for that deposit !, and then its like do they need to go and get a Pizza at 10pm eat half of it and bin the rest, No they dont, i used to get them when we got our first Pizza take away and i could,nt eat it all i did,nt bin it i took it to work day after for my dinner, I think its just the way the younger generation spend there money and its not wisely i am afraid, there is one saving they do make tho that my generation didnt and that is they dont buy records today or as my kids called them early versions of CDs i used to buy a couple every wk and they was about 75p a go, So i just think todays youngsters just have to much to spend there money on that we didnt have back when we was saving for houses,  

the change is that there is more tax on beer now than in the 80s 

[spuddog0507]

30 minutes ago, Big J said:

The absolute minimum you can buy a reasonable family house here is about £500k. By reasonable, I mean 4 beds (so as to have a spare for visiting family - important when they aren't just around the corner) and about 130 square metres on a plot that isn't a postage stamp. It's genuinely out of reach of us, and so many others.

Tell you what, i will sell you a 3 bed stone built farm house with attatched stone barn with 51 acres of land based in the ribble valley, open your bedroom curtains in the morn and your looking south on to Pendle hill looking north and you see Stocks res and the Gisburn forest,  ok it needs money spending on it but its a 1.2-1.5 million pad when knocked in to one dwelling with 5/6 beds when finished, currently awaiting a grant of probate and the day its granted its for sale at 600K good investment for some one, 

[Big J]

39 minutes ago, trigger_andy said:

 

 

Define “here”. I assume you mean around your way and not the U.K. as a whole?

 

 

 

Yes, Devon. Prices have gone up around 20% in the past 18 months. We were close to buying a house in Autumn 2019, but winter 19/20 almost crippled us with the crashing log price and hideous weather (6.5 months of almost continuous rain). Then covid to top it off.

 

24 minutes ago, spuddog0507 said:

Where is here Devon ? there seem to be a lot of negative comments and thoughts on this, you moved from north of the border to Devon and i would say there is a big jump in house costs between the 2 locations, a  4/5 bed detached house with double integral garage around me would be around 380-400k but that is hardly a first time buyers property that is some thing you buy 15-20 yrs after getting on the ladder, you chose to make the move to Devon and i now taking it that you are saying you cant afford a house there as you say you are on the move again, so i have to ask why did you move there and not some where inbetween where you may be of been able to buy your own place ?,

 

We moved here primarily for family reasons. We have a lot of family in the area, which is of course lovely, but nothing else about the move has really worked for us. The timber market is incredibly unstable, the weather is generally awful (we've had about 5 inches of rain on site in the past 6 days with another 2 inches to come in the next 48 hours) and the infrastructure for work is a tricky. Beyond that, the actual quality of life is pretty poor. I was up at my mums today in Derbyshire. I don't often go back due to time constraints, but on a long walk I was really struck by the profusion of footpaths and rights of way, the feeling of space within villages and houses are far more affordable there, being about 20-30% cheaper than Devon. 

 

I have two young children and a starter home would be entirely inadequate. I've put my money into my business and as such missed the boat on a first time buyers house. I've made some good financial decisions and some poor ones too. Not everyone has the clarity of vision aged 20 to buy their first house, or even the capacity to do so. Entry to the housing market shouldn't be predicated by either being in the right place at the right time, or having family wealth.