To be totally fucked off that we just cannot afford to buy ANYWHERE

[TheLowestFormOfWit]

I earn £50k, DP earns £45k. We have savings of £26k.

We live in a two bed flat and have two DCs (our DD and DSD) so need to move to a three bed place.

Can we afford anywhere remotely close to the area we need to live in? Can we bollocks.

Every house sale goes to a bidding war with people paying up to £70k over the asking price.

House prices in our area are going up by about £5k a week.

It's insane. I feel like we're going to be stuck in this flat forever.

Who the hell can afford to buy houses these days? Seriously, who are these people that an afford £600k for a three bed in East London? What do they do??

Those that say people shouldn't suggest moving out of London. The OP says "...cannot afford to buy ANYWHERE" what the OP really means is that they can't afford to buy in a particular area of London. They don't need to live that area, they want to. They don't need to have another child, they want to. It always has been and always will be about deciding which things are more important.

Well we do need to live in that part of London really so that DP can continue to have DSD 50:50.

This isn't a drip feed, I just didn't think it was relevant, but the flat is DP's, I'm not on the deeds. He bought it before we met, right at the peak of the boom literally months before the bottom fell out of everything. He was in negative equity for ages and although the flat hasn't been valued for about six months, I reckon it's now only gone back up to what he originally paid for it. Maybe £10k more.

I don't want to live in the village. I think the houses there are gorgeous, but they all look so dinky small! What's happening in the village is seriously nuts. £650k for a two and a half bed with postage stamp garden.

When we contacted EA in Walthamstow 12 years ago we were not sent anything in our budget. Not a single set of details came our way.

When went to the EA (there are hundreds in Hoe St) I came away with handfuls.

EA want you to look at the more expensive stuff. There are places in E17 within your budget.

No 3 bed round here would go for 600k. Not even in this climate.

I hate the over asking price crap, so disappointing. When we moved we desperately wanted a house in Clapton which we could just just afford. Except they wanted £20k over the asking price and when we couldn't stump it up they sent to auction where it went for £60k over asking!! We bought a house which had been on the market for over a year, for the OIEO price. Mind you, we discovered a fair amount of electrical, plumbing and structural problems so it wasn't a massive bargain in the end.

I would suggest that you wait a little while - I honestly believe that even if prices don't drop, they won't go up any more and that you will have a lot more choice in your price range if you wait 18 months, as interest rates increase and it becomes more difficult to find a mortgage with the new controls in place.

Of course it might be more difficult for you to find a mortgage, which defeats the object, but there should be more choice by then and you may have saved up a larger deposit.

How old is your DSD? Once she starts at secondary school your DP won't need to do school runs as she will be able to get herself to and from school.

Some people can't even afford a flat, Count yourself lucky. Although I understand what your saying. That's life now, renting is a waste of money in my opinion but then that's all our generation can do ??

Dawdie why have you posted on such an old thread?

I sympathise. We are in a 3 bedroom flat which has gone up about 200k in value since we bought it but so has everything else, more actually. If we wanted to upgrade to a house (we do), we'd have to take out a much larger mortgage than we originally did (and that has been paid off).Looks like we're not going anywhere.

I bought in SE London. Bottom of Greenwich borough. I have a 3 bed house and it cost me 325k. So YABU.

Should just clarify that I only bought it last year and it hasn't gone up much because the area isn't well known. It's absolutely bizarre. It's a safe, residential area in Zone 4 with very regular 30 min trains into the city.

But nobody has ever heard of it!

Anyone who says the cant afford in London but hasn't looked at Hiter Green, Lee, Mottingham, Eltham and Kidbrooke is BU.

My eyes are watering at the thought ofa £95 k salary. What £350 k in our area would buy....a 4 bed detached house with ample gardens, an extra £25k gets you a 6 bed bungalow with a long drive and masses of gardens.

However salaries in our area aren't huge.

Zombie thread

Zombie thread! Although I did roll my eyes a bit at 'I can't afford to buy ANYWHERE! (in one of the world's two Alpha++ cities).

I live in a 3 bed in Lancaster which cost £130k. I do have a lot of sympathy for the OP as London is mental so it's a pain if you want to stay in that area.

Bugger! That's 15 minutes of my life I'm not going to get back

Tbh honest op I don't really feel for you if you rather rent for the rest of your life than simply move to a commuter town

Reading,high Wycombe , Essex , Luton then that's up to you

London has been unaffordable for normal working people for about the last 15 years don't you watch the news it literally comes up eveyweek

We had to do it rent is dead money and even if we did manage to get a house in London our children would have to move away to afford a home

So we just moved it's quicker for dh to get to central London from were we are than when we lived in grater London

We have a mssive 4 bed we brought for £189 2 years ago we have no parking changed virtually anywhere I can actually get an appoiment to see my GP
We wonder why we didn't move years ago and I worry about my teenage son a lot less down .here than in London

Well, however many years on I'm guessing the poster may have sorted this issue, which is people read the thread would see involved another family.