How long did it take you to save a deposit towards your home?

[Hope54321]

How much was your deposit and long did it take to save?

£32,000, took my husband and I eight years, including moving back in with parents for two years. No other family help though and we also paid for a wedding in that time. We’re 35 and baby due any day, just waiting for our flat purchase to go through (bought in zone 5)

£20k. It took about 2 years once we focussed our minds. We lived in a tiny place and I didn't buy any new clothes etc and then we each got a couple of small bonuses from work which helped bump us up faster than we had first expected.

£15k and took 2.5 years.

Ds has just saved 45k over lockdown. Which is all his earnings more or less as he moved back in with us and had no expenses at all. So a year and a halfs salary.

We’re just about to buy. £50k saved and has taken me 4 years and DP the last 2.

The year of purchase and your age means a lot.

My deposit was 6k, I was earning about 15k, the property was 36k and it was almost 35 years ago. I started saving up when I was 13. Really that young and made some investments as a teenager. I was 21 when I bought my first property and opened my first pension.

I just put the figures through a historical money calculator . My 7k is now about 20k , 15k is now almost 45k and 36k is now 108k. A quick rightmove search shows the flat downstairs to mine and one that was exactly the same sold a year ago for 110k.

My deposit was 32% of the purchase price, it took three years to save, I did however own part of a friends property, I was able to sell my share before I purchased my own property so a significant amount of my deposit came from that due to an increase in value.

I’m in Ireland and the mortgage rules are different.

Minimum deposit was €125k (as we’re not first-time buyers, min deposit was 20% of house price) and it took us two years to save it.

5% and couple of years or so from memory. I worked a lot of overtime and we spent little whilst saving. Getting onto the property ladder was important to me so gave it our all.
I’ve had friends moan about not being able to afford to buy, it’s not that they can’t but that they made different choices. Large expensive weddings, lots of socialising, children etc first.

5% deposit - which was 7.5k. 2012. My DH sold his car and made 11k from it, so that was put deposit. We were 22 & very lucky.