FruitBooTeR
Member
Registered: 18th Jan 07
Location: Wolverhampton Drives: S15
User status: Offline
|
Was just looking into buying / renting.
Ok forget buying for now.... renting.
For a respectable place it was coming up at around 500-600 a month now thats just rent, i havent even thought about the other outgoings.
Now im 19 and atm earn 16k a year which to some is low but to others its sufficient so that just under 1k a month after tax.
Now if i was to rent, i rekon it would cost in the region of 700-900 a month which would mean no money for me let alone petrol 
So how do you all manage it?? Are you all on like 30k a year or something.
|
Kathryn W
Member
Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
|
Me and Gaz bring in around £30k a year, okay its not much at all, and will get better within time as both jobs have plenty of potential.
Our mortgage is going to be around £700, a lot of money and there's a lot of other costs to be considered, and we know we wont have much of a social life for a good year or so, and not have much spare money for anything else.
Renting/Buying is mere impossible on a single income especially with todays markets, and dont earn more than a good £25k.
|
IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
|
me and my brother take 37k a year between us 
find someone to share with
|
Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
|
I stole my house
|
Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
|
quote:
Originally posted by FruitBooTeR
which would mean no money for me
So how do you all manage it?? Are you all on like 30k a year or something.
That would be called sacrifice
|
Dean_W
Member
Registered: 13th Dec 05
Location: Downham Market, Norfolk
User status: Offline
|
I take home just over 1K per month. Plus about £300 from a pub job.
I can manage quite easy. Just pay the bills and when the remainder is gone, it's gone.
|
Adge
Member
Registered: 28th Aug 04
Location: Lancashire
User status: Offline
|
yea i only earn low twentys! but like saidabove, i chucked in with a mate so its easy!
|
Colin
Member
Registered: 4th Apr 02
User status: Offline
|
Im on a low income & was when I bought my 1st place, I bought the cheapest possible as early as possible in order to move with the market, i'll get a big fancy house easier now, later in life.
In simple terms:
£35k mortgage on a reposessed 1 bed flat when I was 22 - earning 14k, im 25 now & its worth circa £70k, next move will be to buy between me & jade with 2 salaries (i'll be on 46k minimum once im out my time.) & a hefty deposit from the sale of my flat.
Lower your horizons theres affordable housing out there!! Buy what you can afford then move as you can afford. Trying to keep up with the Jones's is what lands people in debt!!!
|
mattk
Member
Registered: 27th Feb 06
Location: St. Helens
User status: Offline
|
Im 20 and could move out now If I wanted, im quite happy paying my mum my keep and having my meals cooked for the time being,
Il just sit on my money saving as much as possible for a deposit, I should earn around the low - mid 40s next year, I work with my dad and he made/declared 43 last tax year
[Edited on 27-05-2008 by mattk]
[Edited on 27-05-2008 by mattk]
|
Colin
Member
Registered: 4th Apr 02
User status: Offline
|
All I know is in 3yrs the value of my flat has doubled & I couldnt afford a mortgage on what I have at todays price.
Really wising up & changing job to something that pays well has been my saving grace for moving up otherwise it would be difficult.
Matt, buy somewhere cheap & fix it up on the cheap - as your a man of the tools. Rent it out for a few years & you'll have a nice fat deposit once your ready to fly the nest.
[Edited on 27-05-2008 by Colin]
|
mattk
Member
Registered: 27th Feb 06
Location: St. Helens
User status: Offline
|
thats been at the back of my mind since I was about 17, my dad has been nagging me to do it for ages, I may well look into it, between us we have more than enough knowledge
If I buy it and rent it out the tennants are paying for it for me in a way........ the cogs are turning again
|
scoob
Premium Member
Registered: 16th Oct 03
Location: Beverley, E Riding of Yorkshire
User status: Offline
|
people are in such a rush to grow up these days if i had the chance to do it again i would of waited till i was 25 maybe older to buy a house
|
mattk
Member
Registered: 27th Feb 06
Location: St. Helens
User status: Offline
|
your too right Scoob, two of my mates were engaged at 17 and 18, one is engaged with a kid and living with her, he was unny 19
Fuck that off, I just want a house and a dog  Im quite happy to give the g.f a lift home every night
|
scoob
Premium Member
Registered: 16th Oct 03
Location: Beverley, E Riding of Yorkshire
User status: Offline
|
my ex was married at 18 lasted a year she found out he was 30k in debt and had a kid
|
whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
|
its hard work but worth it
Cica 40k (lol) a year but have a compnay car so I have no other outgoings apart from the mortgage and general running of the house
|
Twiggy
Member
Registered: 15th Oct 04
User status: Offline
|
quote:
Trying to keep up with the Jones's is what lands people in debt!!!
what a fucking bang on statement!
[Edited on 27-05-2008 by Twiggy]
|
GirlRacerRed
Member
Registered: 21st May 08
User status: Offline
|
Hubby and I rented a 1 bed flat about 6 years ago for £325 a month and then a year later we bought our first house for 66k (3 bed semi, on the edge of a council estate) and the mortgage was costing us £330 a month! But back then, our combined income was 21k before tax.
5 years on, we've just sold our 3 bed semi for a tidy profit and we've bought a 3 bed detached for 150k. Thankfully, our combined income has more than doubled.
My advice is, if you really want to move out, sacrifice a nice area for something you can actually afford. If you're still struggling, could you rent somewhere with a friend?
|
--DAN--
Member
Registered: 3rd Feb 03
Location: Bottesford. Drives;3 Series
User status: Offline
|
At 18 me and the missus rented a flat in a shit area for £60 a week with a combined income of around 20k at the time, after a year we got sick of living in a shit area(both always lived out of town previously), took what seemed a huge step at the time and bought a brand new 2 bed semi for 45k(:lol in a great area.
After 5 years our salaries are around 55k and we found a 1 year old 3 bed detatched house which had been bought by an investor but due to business difficulties they never got round to letting it. I asked them if they were interested in selling and to our suprise they were for 125k, very cheap for a 3 bed detatched and best of all they offered me 100k for our old house as it would be easier to let out!! So 55k "profit" on the semi and a bargain price for the bigger house (Required loads of work on the garden as the builders had abandoned it!!)
In the current climate I would certainly be staying at home with my parents and saving a decent deposit, but the way things worked out for me proves that you can get somewhere when starting out on shit money if you're careful.
[Edited on 28-05-2008 by --DAN--]
[Edited on 28-05-2008 by --DAN--]
[Edited on 28-05-2008 by --DAN--]
|
Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
|
I really don't know what me and Adam spend our money on
we're on about £100k together but are always skint at the moment
Most likely because we are paying two hefty mortgages at the moment, once our flat in Edinburgh sells we might be able to have a life again
|
nik
Member
Registered: 19th Jun 00
User status: Offline
|
'Tis the drugs..
|
