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

Very cheap properties, so absolutely possible.

What is the point of this thread?

I never said i didn’t understand. I’m aware it’s happening. I was surprised my dc were able to get on the property ladder so quickly because of how hard it is.

Ive just had some work done by a tradesman from Barnsley, we live 20 miles away. When he turned up he had a strong Essex accent so we got talking as to why he lived in Barnsley. He said it was for house prices but having moved he thought the area was much much better, not grim up north at all. When he goes back he never wishes he still lives in Essex and other family members have moved up here too.
Barnsley town centre is great too, all has been regenerated to give a great mix between shopping and leisure

Love a florentine do they count as biscuits?

So did mine, in London 5 years ago.

Dc 1 got a pay rise / promotion about a year after buying and is now on 36k. His partner didn’t go to uni his wage is the same (roughly)as it was when they bought. They are both 27/28 now.
Dc2 and her partner graduated together her partner will have a pay increase of about 4k in a year or so. (Due to role specific qualifications being completed) dc2 has just got a new position which gives her a 6k pay rise. Shes 24.
They are still building their careers. Both dc have the potential to earn more than double what they earn now following their current career paths (which I’m aware isn’t huge for Mumsnet standards)

Do you feel better for saying that?

Yes I moved out at 19 due to growing up in an abusive home. I had a live in job for a couple years then rented. I was very lucky housing was so cheap as when we came to buy we took out a 28k mortgage and zero deposit . Thats why I was able to buy in my early twenties.

No not at all. I got on the property ladder because housing was significantly cheaper and zero deposits were available. Dc got on because we live in a lower cost area and they were diligent in saving. Not everyone can afford to save and as pointed out about 60x on this thread other areas are significantly more expensive. So whilst my dc have done well they were in a situation where that was achievable too them.

No the partners lived in their parents homes. Not with me.

stude debt is around 45k each! 3 of the 4 have or will have increased wages over the next year They have solid careers .

My granddaughter bought her house when she was 21 (now 23), sole owner and sole resident. Deposit was £8.5k, half savings, half Mum and Dad. She has a 3 bed semi in the north east. The house cost £85k and it's in a nice area. Obviously this is because we're in the North, although our prices are creeping up because we have so many people moving here from all over the country.

Yes we are. Both my dc work in education based roles (not teachers) they are doing roles that are more about the love of the job than the wage but do have some career progression/transferable skills .

one partner works in cyber security (has the potential to earn a lot with completion of qualifications and experience) the other is in engineering should have ops to earn more with experience.

But perhaps not so low when you consider the COL for the local area. You always have to compare salaries to that.

They’re happy though.

It's great if they are happy, @joezoealfiecasperoli, but it's not really noteworthy as they live in places where property is still very affordable, even on average/below average incomes, especially when buying with a partner.
If prices were at this level in the whole of the UK, I daresay most young people would be buying at a similar age, as they did two generations ago.

Your DC have done well, but their situation isn’t the norm for the UK. The average first‑time buyer is around 32 and usually needs a larger deposit or family help. The main factor in your DC’s case is Location! Location! Location!. Rotherham and Barnsley are among the most affordable areas in England, with First Time Buyer prices around £130–160k. With combined incomes of £51–52k and 10% deposits, buying in their early 20s is realistic, especially as a couple. In many other regions, those incomes wouldn’t come close to local prices.

It’s also worth noting that most under‑30s aren’t partnered. Roughly 75% aren’t living with anyone due to combination of several reasons e.g. financial pressures, housing costs, longer education and shifting social norms.

Overall, it’s a good outcome for them, but not representative of the wider picture.

YAY for them! My DC has a hamster that just keeps on living.

Can I just say what a pointless gloating strange thread not one of us needed to know about your children buying a house. My children aren’t old enough yet for a long while but I can see what you’re trying to do to the other posters that do have adult children. It’s not nice and this isn’t as innocent as your trying to come across

There are some very mean remarks on this thread. Yorkshire is a beautiful county and not "depressing" as a PP said. And the young peoples' salaries may not seem much to posters in London and the south-east, but they are not bad salaries at all for youngsters in that area who are starting out.

And all the remarks about travelling! Not everyone is obsessed with travelling. Some people are content to see the world gradually over the years.

And does it matter if they've settled down early? Some people do meet the right person early. And even if they break up in the future, they will get something back from their house sale. It's got to be better than renting.

Well done to your children, OP! It must be nice not to have to worry about how your kids will get on the housing ladder. Maybe some of the mean remarks are down to being envious of that peace of mind....

I would love to move up north, but my career is firmly entrenched in London, more's the pity. I think it's beautiful up there, and those property prices are not to be sniffed at!

She didn’t.

I brought with my partner at the age of 23. In Cambridge. The only help we had was the mortgage. We both had savings. We were both careful with money but I wouldn’t say we sacrificed.

Did they live at home with you somewhere up North and have very low outgoings in order to save the money for the deposits?

They lived at home in the north and saved hard. But still had hobbies/ days out/ holidays.