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The long long property ladder, please tell me I'm not alone

(5 Posts)
YouAndMePlus3 Fri 13-Jan-17 22:32:00

DH and I are renters and I HATE it. I passionately want a home of our own and try and save every penny whilst DH is on board but only because I've forced his hand really, he would be happy renting forever... anyway that's another thread entirely. We are saving albeit slowly with 3 DCs to raise and all the usual monthly household costs. All my friends have managed to buy homes mostly with financial support from parent which is not something that's available to us. Am I chasing the impossible dream here? Are there other people in the same boat? Is it so bad to be renters for life ?

user1484311384 Sat 14-Jan-17 09:19:56

Have you looked into all the various government schemes out there? Maybe one of those might be applicable. I feel for you in this. My daughter and her soon to be husband have rented for a few years and it has given them flexibility and actually they were able to live in very nice areas fairly near to their work, which would be unaffordable for them if they were to buy. They have now finally bought a house (which indeed had to be with considerable financial help from me) which is much further away from work, not in such a nice area and they both face a considerable commute. So there was a price to pay in that respect. It may be that there will be changes to the rental law to make it more secure, but don't hold your breath due to this Government's policies. There is no simple answer at present with the high cost of housing, but I sincerely wish you luck.

mizu Sat 14-Jan-17 20:05:54

Youandme I feel you. We are in the same boat. Just posted on another thread about not having a mortgage.

We are saving but it is taking an absolute age, years. And we are both over 40.

No help from family ever means we've never been able to get on the ladder and like you, all my friend have had financial support.

I try and stay positive about it all, I teach a lot of people with far worse problems. Hope to buy but where we live is expensive too.

TDmoocher Sat 14-Jan-17 20:17:41

I know how you feel! Only this afternoon DP and I were discussing how we'd be 40 by the time we save a 10% deposit (in South East so need quite a hefty deposit even for 10%), then there's the issue that even though DP has an above average salary, the amount he could borrow still wouldn't be enough to buy anything other than a 1 bed flat even if we saved a 10% deposit. We have a dd so need 2 beds.

We've decided to really tighten our spending this year, other than a holiday, occasional night out and a well needed haircut for me we've decided we can't buy ourselves anything unless we actually need it. Hopefully this will help.

YouAndMePlus3 Sat 14-Jan-17 23:20:03

Mooches we are in the south east too so feel yoir pain regarding property prices. We've even discussed relocating somewhere cheaper but is it all worth re routing your entire family for the sake of some bricks and mortar. Trying to stay positive and thankful for what we have got. I'm always genuinely pleased for my friends achievents in life but a part of me wishes it were me in their shoes x hey ho we have a roof and food so we're much better off than some x

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