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Original poster

How do people without family help buy houses ??

186 replies

01Username01 · 12/07/2021 15:57

As the title says, how do people who don’t have family help buy houses ?? I’ve been saving for the last 10 years to buy a house and every time I get close, prices seem to jump again and it’s still out of reach.

Me and my partner earn decent salaries and have what I thought was a decent deposit but it just never seems enough. Prices in my area seem to have got totally out of control and 2 bed bungalows are now going up for £650k.

Everyone we know has been given significant deposits (£200k+), whereas we have no family help and it’s starting to feel like it will never happen . Has anyone been able to buy in this situation ?

OP posts:
SheldonesqueTheBstard · 12/07/2021 16:40

Zero money from family here.

No real social life for about 10 years = no mortgage. But I’m not in The SE so that helped.

I don’t know anyone who got family money to help. Lucky those getting 200k.

AMistakePlusKeleven · 12/07/2021 16:41

Move somewhere cheaper. My husband went on tour for our deposit but we live in the midlands.

harknesswitch · 12/07/2021 16:46

I started out very small. I bought a 1 bed flat which wasnt particularly nice, or in the area I wanted, stayed a few years and moved. Each time I moved I got a slightly larger mortgage and a bigger house. I'm finally moving out of my horrid 1970s semi to a lovely cottage with a smaller mortgage at the age of nearly 50.

I think you just have to be realistic and not expect to get what you want straight away.

I have a friend who's younger than me and is always saying she cant get on the property ladder. I keep showing her places within her price range, but she says no because it's not a 3 bed detached, large garden in an area she wants.

In my opinion, if you haven't got a large deposit, either through family or other means, you have to compromise for a number of years.

Interested in this thread?

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General money
Chickenwing2 · 12/07/2021 16:50

I got a help to buy ISA years ago, put away £200 a month and finally have enough for a deposit.

Todaytomorrowyesterday · 12/07/2021 16:51

Saved & we had to buy out of the area we lived but we could never have afforded a house in the area we rented. It did mean we rented a tiny flat but it was the only way we could save.
It did mean we had to change primary schools but it did mean we then had a better chance at a good secondary school.
We are the only people in our friendship group who have managed it without a large gift from parents/inheritance etc. My parents did loan us the money for solicitor as it was tight financially but we repaid as soon as we could.

Squirrelblanket · 12/07/2021 17:00

I've never had financial help from my family. Neither has my husband.

We saved. It was helped by my husband having 10k from a previous house sale. It was also helped by living in the NW and not the south.

Neondisco · 12/07/2021 17:06

@PositiveLife

We buy much cheaper houses, live in cheaper areas (even if that means earning less) Confused
What are you confused about?
Letsallscreamatthesistene · 12/07/2021 17:06

@Charlotte2020

I don't know how people do it in Bristol. Prices are insane. Most people I know that bought before they were 30 had help from parents or an inheritance, they still saved a lot though. I was lucky and bought a flat in a dump cheaply that quickly became a trendy area so I sold for a lot more. Where are you that a 2 bed bungalow is £650k?!
Tbf I live very near Poole and this is standard to bungalows here. Its because they inhabit a large plot of land, and they inevitably get knocked down to make way for a much more expensive house.
Letsallscreamatthesistene · 12/07/2021 17:07

But even here, a 650k bungalow isnt the cheapest housing option.

Nicolastuffedone · 12/07/2021 17:07

Started off in a 1 bed flat…not in an expensive area, granted. Definitely didn’t get £200,000 to start me off!!!

pilingup · 12/07/2021 17:08

Everyone we know has been given significant deposits (£200k+),

😂😂😂

ILoveYouILoveYouIDo · 12/07/2021 17:12

You need to be a bit more realistic about what you can afford. Do you need a bungalow? Can you move further out and travel to work still?

I was 22 when we got our first mortgage. It was 95% mortgage and we put down 7.5k as a deposit. We bought a 2bed flat in a not so nice area for 140k but we sold up within 4 years and made 130k profit!10 years later and we own a home in a beautiful area which cost more but it was worth getting on the property ladder to begin with. You need to be realistic, the home you buy can be a stop gap!

BraxtonChic · 12/07/2021 17:13

How much have you saved as a deposit and where do you need to be able to commute to?

Never heard of anyone being given £200k for a deposit. Loans of £5-10k from family to top up deposits, yes.

PickUpAPepper · 12/07/2021 17:14

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ConsuelaHammock · 12/07/2021 17:15

Moved home with parents to save up. I had only ever lived in a house share so had never spent lots on rent anyway.
Saved and only went on cheap holidays every couple of years. No weekends away or nights in hotels etc. Bought a car for £1000 when my friends were financing brand new minis.

FrownedUpon · 12/07/2021 17:15

They buy in cheaper areas, so you either have to go for a longer commute or you find new jobs and move area completely.

PickUpAPepper · 12/07/2021 17:15

Not a healthy attitude to force on to your working citizens who keep your country’s lights on, and one shared by many people I know.

PeonyTime · 12/07/2021 17:15

You dont buy a first house for that amount.
You find something that needs work, or is a flat/terrace, in a less than amazing location, or that adds 20 mins to your commute.
Bungalows are expensive.

MrsPsmalls · 12/07/2021 17:18

Have a biscuit to the starter price in your area being 650k. Come on op that is certainly not true. Tell us where you are and I will find you somewhere cheaper.

TotorosCatBus · 12/07/2021 17:18

They do it by not living in areas with £650k starter homes.

Chiantina · 12/07/2021 17:20

We moved to a town further away from the city where we both work. It's about a 40-min train ride to work, we simply couldn't afford anywhere closer. Even with the cost of train travel (£400+ each per month to commute) buying here is still cheaper than renting in the city.

We both work full time and DP saved hard for a long time before we met, most of the deposit was his. Topped up with a LISA (now discontinued, I think?). No family help but we were in our early thirties so 10+ years of savings.

EssentialHummus · 12/07/2021 17:20

What everyone else said.

I lived in a shithole and saved like mad for a 2-bed ex-council flat in an unpopular bit of London.

I know London and bits of the SE very well and I don’t know any large conurbation where the starting price for a property is £650k.

MrsPsmalls · 12/07/2021 17:20

There are absolutely loads of places commutable to London with one bed flats, shared ownership and very smart for £200-250K

Thecurtainsofdestiny · 12/07/2021 17:21

We bought in a cheaper area. Can get 2 bed cottage flats for £90k in parts of our city.

SeeYouInFive · 12/07/2021 17:23

How we did it was DH and I both earned about the same amount. DH paid all the rent out of his salary (£1,200 a month). I paid the bills out of mine (about £400 a month) and then I saved the rest of my salary, plus whatever else we could put by from birthday money, cancelling Sky, swapping phone providers, etc. After about 18 months we’d saved £30k ish and that was enough to get us a leg up on a shared ownership flat.