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

Fair point. I've just been looking on Rightmove for Barnsley, and properties are certainly very affordable. Quite a number under £100k.

Try living in London where rent is £1000 a month just for a house share, public transport and council tax can be another 100 a month. Also 50k income is quite high for that age, what about some entry level jobs that only pay 20k. an average 1 bedroom flat here could set you back 300k in a non desirable area.

I know people who work in Sheffield but live in Rotherham, because the property prices are significantly lower, and it's possible to commute.

You can't even buy a studio flat here for those prices I also wouldn't be advising people at 22/23 to buy with a partner. Fwiw I bought at 25 a flat on my own in the south east 20 minutes by train from a main London terminal. No financial gifts. Worked two jobs to save up after graduating at 21.

Hardly London or the Home Counties, even with a combined income of 50k you wouldn't get much more than a shoe box where I am, and you'd need a damn sight more than a 13k deposit.

That's joint income for the couple, basically minimum wage x 2 plus a little bit, it's because they are buying very young with partners in very cheap areas

I don't think it's that unusual. Plus, it's good to hear about young people being successful!

They should be earning more than £20k at 21, NMW is nearly £25k for 37.5hr week yearly wage

That was the age I was. Younger son was 23.

So the secured jobs, lived at home for a couple of years to enable savings and bought reasonable priced homes in a cheap area. I mean good for them but not something that everyone can necessarily do.

I have 23 year old twins. They earn £42k and £47k. They have significant savings and still live at home. One has a long term partner earning £35k.
If the one with the partner wanted to buy a 2 bed house near me on 3 x joint income they could raise around £290k with deposit and mortgage. There are no houses at that price. Only 1 bed flats often with leases and high service charges or dodgy looking 2 bed flats.
So I’m not sure why your DC’s achievements are that noteworthy. And no they can’t commute from Barnsley to London where their jobs are.

I live in the SE, would need a £30K deposit for a small 2 bed house, wasn’t a change of me managing that in my early 20’s. Plus I wouldn’t have wanted to, I was off travelling!

Cheapest part of the country. Not replicable anywhere else.

It is in Scotland.

And you’d need a 270k mortgage for that so you’d need an income of about 60-70k and the monthly repayments would be really high.

It's good that these young people have been able to buy houses at a young age on what sound like fairly average wages,

Surely by staying at home they avoided paying out at least £1,000 a month extra on rent, utilities etc. So this alone gave them £12,000 a year. In which case, shouldn’t they have saved more and managed a larger deposit?

What year did each of your children buy their homes?

Where I live in Northants which is fairly cheap and not up north, we get quite hot weather and not much rain, a terrace house is about £180k-£200k so not a lot more than OP's DC houses.

This is where I stopped reading. We’re in SE and there is NOTHING at that price (possibly a one bed retirement flat with no garden and no parking)
My dc don’t have the bank of mum snd dad, so we’re charging £100 pm towards bills on the condition that they save. They both have LISAs, and they both have jobs and a social life here. They don’t want to move to Yorkshire or Cumbria. (lovely though they are)

Cheap areas.

Try buying a house in the SE for example on 51k or 52k salary and a 13k/17k deposit.

What a shitty thing to say. To you it's "bleak", to them it's home. Possibly close to family and friends.

What an odd comment. Inheritance/savings from parents does not often facilitate children buying their first home early. Where do you get that idea from?

The average age of first home purchase is around mid 30s, late 30s in London nowadays. More than half FTB do have help but they have usually also saved and are working full time for several years before they can buy. Your DC must have had considerable family help to have all bought at 21. It would be possible in Rotherham or a similar cheap area, with a partner, especially if they had been working from 16 (doing an apprenticeship perhaps) but not otherwise!

Yes and young to settle down with a life partner. The house will all but dissappear if/when they split

So many snarky comments.
A lot don't want to hear OP.
On MN, the rhetoric is that younger people are the most shafted generation ever and buying a house is something they will NEVER be able to do.
I've said before - and been shouted down before - that most employed people could buy a house if they prioritised it. But they don't want to do what your children have done and do it the traditional way of living frugally while saving fir a deposit, then buying a small house (i assume) in a cheap area to get started.
A lot of today''s 'can't afford a houss' brigade want to live the way they have got used to, with holidays and treats, them wonder why they can't afford their nice house in an expensive area.
Or they have children first, with all the expenses they bring, and bleat they czn't afford a house.
Your children have done things the right way. But pps don't want to acknowlege that, hence the sniping.