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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

First time buyers

179 replies

Pickledonion24 · 26/02/2018 12:13

Have managed to save 200k between me and my partner. just feeling annoyed it won’t go anywhere really down south where I live

OP posts:
Thedogsmells · 26/02/2018 12:32

Mortgage?

slbhill42 · 26/02/2018 12:34

Move.

You could get a nice 4 bed detached where I am, and mortgage-free you could cope with a lower paid job than the one(s) that allowed you to build up that cash.

It is frustrating, I get that. But you have choices, and it's not like the prices have doubled in the past year.

SillyMoomin · 26/02/2018 12:35

ummm... get a mortgage like the rest of us? Confused

BakedBeans47 · 26/02/2018 12:37

YABU

surely even down south £200k is a pretty handsome deposit ?

Glumglowworm · 26/02/2018 12:37

YABU

even in London that’s a hefty deposit. Get a mortgage.

Or move to somewhere cheaper where you can buy outright with £200k

Simple

Northumberlandlass · 26/02/2018 12:38

You have £200k deposit Shock
Why haven't you mentioned a mortgage? That's what most of us do! Smile

ilovesooty · 26/02/2018 12:38

It would be more than enough to buy outright elsewhere. If you want to live in an expensive area you'll just have to get a mortgage.

And that sort of sum is beyond the wildest dreams of most people.

teaiseverything · 26/02/2018 12:38

Stealth boast?

Either get a small mortgage and pay it off quickly or move. Simple.

Batmanwearspants · 26/02/2018 12:39

What I wouldn’t do for 200k in the bank right now

Butterfly1066 · 26/02/2018 12:42

What a pointless boast post
Bore off

ajandjjmum · 26/02/2018 12:43

Don't be pathetic - of course it will 'go somewhere'. Might not be a mansion but it's a great deposit on a home.

Well done for saving that amount.

spugzbunny · 26/02/2018 12:43

Ah haaaaa! You are having a laugh right? I'm in the south and in a very expensive area so unless you live somewhere like Knightsbridge, get a mortgage like the rest of us!

Original poster
Pickledonion24 · 26/02/2018 12:46

Even still with a mortgage we can get a max house of 350

OP posts:
ilovesooty · 26/02/2018 12:48

So? What's the problem with that?

teaiseverything · 26/02/2018 12:48

I'm also in London. If you can't get a house where you need/want one for 350 then you have to compromise and get a flat. It is what it is. You're hardly in a difficult position.

skittycat · 26/02/2018 12:49

YABVU.

BakedBeans47 · 26/02/2018 12:51

How can you have managed to save £200k if you only earn enough to get a mortgage if £150k? Confused

CavoliRiscaldati · 26/02/2018 12:51

you can get a nice flat for 350, or a small nice house. I don't know many people who started with their "forever home". Everyone I know bought a small place, sometimes a project, redid it, sold it and bought something bigger.

I have a big-ish house in the South East now (with a huge mortgage, but we are in the catchment for outstanding schools), my first place wasnt' that nice and stayed empty of furniture for nearly 6 months because we had no money. It would have been harder with kids, but 10-15 years ago, child free, it was worth it.

What would you expect to buy exactly?

Original poster
Pickledonion24 · 26/02/2018 12:51

Can’t move due to family and work partner has a good job at the moment unless we move to London we need off road parking which is an issue partner has his dads vintage car and he passes away when he was sixteen

OP posts:
Autumnsparkles · 26/02/2018 12:53

Some threads make me feel a bit sweary. This is one of them.

ilovesooty · 26/02/2018 12:53

So it's all about this vintage car? He can pay for garaging surely?

CavoliRiscaldati · 26/02/2018 12:54

then get a mortgage with a place with off street parking? I don't really understand your problem

Bluelady · 26/02/2018 12:54

Oh ffs. This is a wind up, isn't it?

Batmanwearspants · 26/02/2018 12:54

I really don’t believe that you can’t get anything for 350k. Even if it’s a two bed flat.

RandomUsers · 26/02/2018 12:55

@slbhill42, where is this lovely place you speak of?
Seriouly!
I'm now in a position to buy, but alas can't afford anything more than 150k.
I'm prepared to move to anywhere I can find at least a 2 bed house for that price.
Work in a hospital, so as long as there's a hospital within driving distance, I would be fine work-wise.