Both my dc bought their own houses at 23 AMA

[joezoealfiecasperoli]

I hear a lot about this generation not getting on the property ladder and it is a big problem. I was amazed when both dc finished uni, got jobs and bought houses within 2 years of graduating.
To avoid drip feed
Yes they are mortgaged
They both bought with partners

I agree with you in principle but you know even the crappiest 1 bed flats in less desirable areas are out of reach in London and the south east? Ftb can’t all move to Rotherham.

Yes, it's lovely that people can give working appliances etc to people just starting out. When I was starting out there were no freebie sites and no one had anything to give away.

It's good to see your children are doing well. It's a lot easier in the North and in the East of the country where you can get a nice house for under £200k. In our area a 2 bed semi costs around £350k and we are still an hour from London on the commuter line. It makes it very difficult for a lot of young people to buy.
I did worry that mine would never be able to afford to move out but they are both now home owners and settled. Didn't happen at 23 though.

OMG so many rude people on this thread, grilling OP like she’s lying or being disingenuous while she’s just sharing her family experience. Attacking young adults for low salaries when that’s normal- they could be on the first rung of a lucrative career ladder for all they know!

Oh and Barnsley and Rotherham are full of great architecture, culture- that area is rich in stately homes and areas of outstanding natural beauty. It’s got great transport links to big cities. So you’re WRONG. I live in the South East. I’m a southerner but I recognise what a lovely region Yorkshire is to live in

Ignore the vipers OP!

How I started out and my life turned out great!

I did find this thread interesting.
If our grandparents and parents had wanted to not settle down straight away, travel. live in a flat ( instead staying at home or HMO ) before buying and live in an expensive area then they would have not been able to save up and buy house first either.

Three of my young end millennial DC got themselves on the property ladder in their 20s in the SE. The fourth lives abroad.

Our young graduates in the South and Midlands get onto the property ladder - in the Midlands they buy houses rather than flats.

They don’t live in the fanciest areas, or the fanciest properties and they accept commuting as part of the deal but its not the case that it is impossible. Some save by living at home for the first year or two of working - just as 20 somethings did when I was in my 20s.

It’s commendable that both of your children are sensible enough to save steadily and invest in their futures by buying now. However, this was only one factor in them being able to achieve this in their early 20s. The other crucial factors were:

• having partners to share costs
• low rent post-graduation, as opposed to high private rent (and the fact their partners also benefited in this way)
• low-cost areas

You seem very out of touch with the realities of the housing market. A “nice” two-bed starter home where I am is £210k minimum.
You mentioned that your four-bed detached house is now worth £250k? The same here would be £350k - £400k, or perhaps even more, depending on area. I am aware prices become even more astronomical the further South you go.

Not knocking your children at all for having achieved home ownership. But not sure what the point of your post was? It’s not hard to see how they managed it? And how others of the same age, working just as hard, and being just as sensible, don’t 🤷‍♀️

(BTW, not an angry, jealous parent here - my child is 5. Keeping fingers crossed the country is not such a s*show when she comes of age🤞)

It all depends on what you value and think is important.
On the kne hand, gaining that security early on is excellent and to be commended.
On the other hand, life is short and your 20s are for experimenting.

I belong to the second school and in fact continued bouncing around, messing up and living a pretty damn colourful life into my early 40s.
It put me behind asset wise. But I dont think i could have faced rooting myself the way your kids did that early. There's a lot of time to spend sitting in your house and mulling over mortgage repayments and what you'd like to do with your kitchen next. I dont think I would have been happy with the prospect of 6 long decades of that vibe.

OP i don’t want to be unkind but in what way did you think this would be in any way helpful outside your corner of Yorkshire?

A 1 bed flat round my way starts at 650k. I’m not sure 17k salary is even liveable in London.

It’s very unusual to buy with a partner at that age and it makes it much harder to split up. Make sure they have a legal contract drawn up regarding who owns what including all the furniture.

And I got to the point I have with a house (in similar situation to you just without the inheritance) by doing it the way OPs children have - while still enjoying my 20s. There isn’t one way to do things.

You’ve answered everyone’s questions. Rotherham and Barnsley? Where we live in London you need to be earning £65000 to buy a property on your own. Flats are £500000 plus in our area.

When did a two bed house become a “starter home”? The classic starter used to be one bed flats or even a studio flat in a cheaper area. I didn’t know anyone who started out in a house unless they had family money.

Just read this thread and it’s just shown some peoples true colours.

young people can’t win, they don’t work, they get slated, they live off the bank of mum and dad, they get slated, they work hard and they save money and buy a house and get slated.

people should should realise that everyone is different, all have different ambitions and for anyone to be able to buy their own home no matter what area it’s in is an achievement!

we have just had our eldest buy a flat and the housing market across the UK is ridiculous, house prices are high and houses are going for way over the home report, meaning our young people need to have a lot of savings.

the majority of people on this site are parents and should act better rather than coming across condescending and bitter. Be kind.

That is entirely your choice. There are many people who like to have ‘fun’ when they are in their 20s. Just don’t complain how easy it was for previous generations to get on the property ladder.

But then again London wages are higher so obviously cost of living is higher.

My ds could earn 25-30k per annum more in his career if he moved to London, so we would expect house prices to be much more expensive there.

Well people do buy houses all over the UK. I think it is the degree of difficulty to do so that can be an issue.
A job in the public sector is likely to pay much the same all over the country. So quids in if you live in the North. Work in London, or the West of England hard cheese.
The availability or pool of housing may differ too. Much of the areas outside London are commuter belt. Three bed semi’s. Fewer terraced options.
And the closer to the Capital the higher the price of property. The higher the cost of the land it sits on. Ditto some parts of the West too.
Yes people are buying houses but it is not at all easy for some to do.
I admire the saving ethic. Excellent.

None.

The children had partners so a whole other income accessible to them plus they all had heavily subsided living costs (just £200 for rent and food for two people) while earning a combined income of £50k. And they bought very cheap property. It would be more surprising if they hadn't managed to save up and buy somewhere with all those advantages.

Perhaps it is an anti southern thread. Or anti anywhere but the North thread.
Except South Yorkshire is really in the middle of the country. Although they will dislike that being said !

I think I’m the opposite, I need stability before Im interested in excitement.

Barnsley? Come back to us when they’ve bought a place where I live in South London.

wages in London aren’t 4 or 6 times higher than up north, which is what you’re looking at when it comes to property prices.

Skipton do a 0% mortgage..at the very young age of 39 I have finally had a mortgage approved haha

https://www.skipton.co.uk/mortgages/first-time-buyers/track-record-mortgage

Indeed. No they are not.
You will find some extremes. But generally speaking they are not which is why so many people commute in from outside London for work.

Some people are just desperate to ‘keep up with the Jones’s’.

It’s all about appearances to them, which is a sign of insecurity.