Please come and tell me about the FIRST HOUSE/ PROPERTY you purchased?

[yellowpolkadots101]

Myself and my dp have been saving very hard and spent the last couple of years being very frugal to save money for our first house. (We are both late 20s). We are going to have to compromise on the size of our first house in order to be near our preference location which is near our family and also a great location to commute to work and is up and coming so hopefully the value of the new house will hold.

Our initial thoughts are to stay in the first house for approx 5 years and up size when we have more equity in the property and possibly a higher earning. (Although maybe less if dc come along).

I know I am being completely ridiculous I cant help but feel a little green eyed seeing the nice sized family homes with gardens that are being sold for 30k over our budget.

It just got me thinking what was your first purchased house like? Are you still living there and how long did you live in it before moving to the next property? Did you also compromise on things that wernt ideal?

One bed flat in a fairly typical Victorian terrace conversion in THE worst area of north London 20 years ago.

Rooms were big and on reflection it was a lovely flat.

The upstairs neighbour was a dealer who had very loud sex but was a lovely lad. We had a couple of gang murders within a few streets on the big estate as well but it was opposite a lovely active gospel church, I knew my neighbours on both sides and opposite and genuinely I felt very safe there. Had a Tube, park and leisure centre within 10 mins walk.

I bought it for 60k and sold it for 125k 2.5 years later so was a decent investment for me.

About 5 years ago, part buy part rent (shared ownership, is that what it’s called?) 3 bed semi/end terrace. Got us on the housing ladder and we now have a 100% mortgage on a 4 bed detached in a nicer area

We bought our first nearly two years ago in a middling London borough. It needed so much work doing to it, our plan was always that it was always going to be a 5 year house (particularly if we have a child in the near future). We've totally fallen for the area though so hopefully will still stay around here in the future.

2 bed flat in a dodgy part of London in 1998 (I was 19). Stayed 2 years before buying a 3 bed terrace.

First property was a 1 bed Edwardian ground floor maisonette. Lived there for 3 years. Paid £45k. A very very long time ago.

Then bought a three bedroom Victorian terraced house. Paid £235k having sold flat for £90k.

Stayed there for 5 years then bought 4 bed Edwardian semi for £330. Sold our house for £300k.

Paid off mortgage with inheritance about 3 years later. Have lived here for 14 years. Extended a bit. Is now worth about £750k.

First flat was recently on the market for £350K. Just shows how lucky timing in relation to economy has made a massive difference. I do worry for my dcs that they’ll have a totally different experience.

We bought a flat above a takeaway in 2007 for 87k. It's really big and we've extended it. It's over three floors with two bathrooms and three bedrooms. We lived there for ten years and turned it in to a BTL. It's now worth 170k.

We bought an Edwardian mid terrace with 2 beds and a tiny bathroom in our late 20’s. It was in a nice village with high property prices. It was 100k on the nose. We did lots to it and had our first child but outgrew it after 5 years no parking or dining space tiny yard type garden.
We sold just as the financial crash broke but prices held where we live. Made 80k and bought a knackered 3 bed bungalow with garden. Again lived with a shit interior slowly did it up none of this knock it all out new bathrooms immediately nonsense. I was really tempted to buy a smart new build as having 2 small children and doing a house up on minimal cash is no fun.
Fast forward 10 years just about to go into loft and make it a 5 bed. Property has gone up so it’s worth it. Try and treat it like slow property development and you will make cash for the next step. We are 45 and house will be worth 400k plus when loft done. Still have same shit carpet in the lounge and no smart furniture but that’s the price.

We bought a 3 bed terrace in 1984 for about £15k which was our first house and then in 1997 bought our present 3 bed detached for about £65k

It was a Victorian conversion near Columbia Rd flower market in the East End of London, walking distance to the City. One bed with a large living room and tiny kitchen and bathroom, and a small roof terrace. I loved it so much. Happy days there. Wish I'd never sold it.

Bought a generous 2 bed ex council house 25 years ago. Not the most desirable bit of town but I renovated it and was very happy there for 9 years. We moved on to a different town for work. A combination of equity, DH's flat and two increasing salaries meant we bought a bigger house.

I know that you're looking for the experiences of Mnetters in the UK, so my apologies. We bought our first 3 BR unit at the beginning of last year when we couldn't find a rental to take a very fluffy border collie. We got the cheapest unit we could that was in a decent enough condition and part of town.

We bought a 2 bedroomed terrace house in 1984 for £700. Yes, 7 hundred.
We eventually converted the attic into a 3rd bedroom as the kids arrived and had a kitchen extension built onto the back to create a dining room out of the original kitchen diner.
We sold it last year for £168.000 to buy a bungalow, which cost £126.000 which we will live in until we die.

Two bed garden flat in Islington. I still own it but haven’t lived in it for almost two decades. I don’t think anywhere else has come close.

Long ago now (40ish years). A two bedroomed Victoria terraced house with a long, narrow garden. The house was in a quiet area and faced a an area of common. We owned the house for four years, then sold. I now live far away but think fondly of that house. A similar house in the same street sold in 2018 for almost 25 times (!!) what we paid for ours.

A 2 bed terrace near the town centre and the river. We were 25. With no plans for DC, it was going to be our forever home.
12 years later we had 2yo DS and realised we could afford somewhere bigger as our household income had gone up a lot.
We sold our first house to MIL so we still get to see it.

I was 30. Looking for a 2 bed and was lucky to find and end of terrace 3 bed, nice location, garden, garage. Bought for 105k sold 15 years later for £235. Was only planning to stay for a few years, moved in the BF, had 3 kids - loved the fact we had a tiny mortgage and I could enjoy staying home with the kids while they were little (although of course was a little envious of friends with big posh houses and more than one loo). Moved last year to a larger home. Won't move again till we downsize and release equity once the kids are all grown up and settled.

Dh already had a flat which we kept and rented out, but we bought a 3-4 bed (3 bed, but dodgy room split/conversion made it 4) 1930's semi. It had a small garden, and had been extended to its maximum really so we knew we wouldn't live there forever. We paid £195k for it. For 5 years we paid off a fair bit, and happened to have bought on a street that really boosted in value during that time so we sold for 240 and had £100k equity, without which we would never have been able to buy our big 'forever house' (on the next street). The forever house needs everything done. It's the only way we could afford a house of this size in this area. We've had to spend a lot so far and will need to spend a lot more, but we're in it forever. Plus, we'd never be able to afford it now! Our first home was definitely a stepping stone house and we had our ears to the ground the whole time we lived there, waiting for the right purchase to come up.

House prices are ludicrous now and I feel really sorry for those who can't afford to buy, even on decent salaries.

My first property was a 2 up 2 down, SW England, £38,000 in 1989. Tiny courtyard but v near town centre.

We bought a very dated 3 bed terraced house on a main road, 8 years ago. It was small - 800sq ft - and needed everything doing to it. Over time we knocked through the (tiny, galley) kitchen, redecorated throughout and replaced all the big items - and had two children which, added to the one DH already had, meant we were a bit squished in! We have just (in the last 6mo) upsized to our 'forever' home which we were able to do because of an inheritance I received.

Well done for saving a deposit, but you need to realise that you're well ahead of the game these days to be able to afford a house in your twenties at all, let alone one in an area that suits you. The average age for first time buyers is 40+.

You can't really expect to buy 'a nice sized family home with garden in a good area' as your first home in your twenties. It's been years since people have been able to do that.

Our first house was a back to back with a small concrete yard at the front and we moved to a small 2 bed ex LA semi about 10 years later. It suits us, although we have put on an extension so the kitchen is a useable size.

I am aware that I am very much not the norm, but DH and I bought our forever home 2 years ago for £655k. It is the first home either of us have ever actually owned, despite us both being in our early 40s. Dh is a high earner and we don't fit the typical FTB profile. I hope we will live here a long time and I completely love it. I know how unbelievably lucky I am.

We bought a 3 bed terrace which we LOVED at the time but over the years has felt like a compromise because of its location - ideal for some but not us as it is in the middle of nowhere, v pretty and desirable village but nothing going on for 20 somethings. Our choice at the time was a small studio in our preferred city or 3 bed terrace 20 mins outside of said city. We thought at the time it would be impossible to move because it was hard to get mortgages etc then and so thought we would outgrow the studio too quickly. Also wanted cats and a garden!
We have just sold 5 years later and are buying a 3 bed detached in an area we couldn't dream of buying in 5 years ago, so it was worth it! We haven't been unhappy where we are by any means just less than ideal having to drive everywhere.

One bedroom flat in a converted house, we shared the freehold with the other flat in the building so no service charges which was good.
We stayed there for 3 years, then bought a 3 bed semi round the corner.

Well it was in the dark ages. 1 bed detached bungalow bought just before we married at 22. Could barely afford the mortgage as the interest rate was 15%.
Moved on after about 18 months to a 2 bed semi chalet, then a 4 bed detached but in a cheaper area. Moved several times since including 8 years abroad. Now back almost full circle to a detached bungalow but in a totally different area to where we started.

Just bought the house I've rented for 10 years. Perfect location for me. Although overpriced for the size of house. (Small modern 2 bed mid terrace) got it for 137k.