We want to get on the property ladder but I’ve heard from various sources now is not the time. We have a 5% deposit stored in a separate account and currently rent. The rent is a lot cheaper than repayments on a mortgage of a house the same size.
We work really bloody hard and bring in about 60k together, sometimes just under depending on commission, likely to go up as DH goes for the next promotion. We live in a part of the country where housing has been historically cheap. Apart from apparently in 2023.
I lost a pregnancy at the very start of this year. It was very difficult despite the fact it was unplanned and we were on the fence on what to do anyway. It’s taken the loss for us to realise that starting a family is what we desperately want, and I can’t get the sense of yearning off my mind.
So, we decided we’d focus on saving a bit and keep an eye on the housing market to see if we can at least buy a home first. But honestly it’s ludicrous.
The idea of a mortgage is daunting and with interest as it is, if we bought, I would have zero flexibility to reduce my hours at work or have a longer mat leave etc after we start a family because we wouldn’t be able to live on DH’s income alone…. where we are, we can live off one income with zero luxuries if we really had to. Peace of mind is second to none
Honestly, answers on a postcard! I don’t know how people are supposed to do it anymore I fear for DN and her generation who isn’t going to stand a chance despite all the family help we will give her when the time comes!