to think I'll never buy a house?

[histoes]

I'm 28, single mum, earn 24k a year which could go up in future but by a maximum of 6-8k. Feeling like time is going to keep ticking by and I'll never be able to afford a house. I had to leave the family home as my ex had enough money to buy me out. We didn't live there that long so only had 8k in the house which has partially been used to pay off debt and a car as mine fell apart.

AIBU to worry that if I rent for the rest of my life that things will be tough for me? Lots of people must be completely priced out of the housing market so not sure why I'm so worried about it. Feel like with a tiny baby I'm going to be on my own on my income alone for the foreseeable future...

Anyone else worry about this?

Or if you’re not arsed about City life, Kirkby (certain areas only, I grew up there) and Annesley itself are decent.

Bulwell isn’t bad either if you still want easy access to the City.

I'm also in Nottingham and have been looking recently and I've seen 2 bed flats and even small houses in ok ish areas for 80-90k in good condition. I don't see the issue if you are not too fussy, apart from the obvious deposit problem.

Just an example

There are definitely properties out there.

@dreamingofsun your children can afford to buy if they want to, their position is very different to OP. DH and I are both graduates and when we bought our house we were in fairly junior roles in the public sector so not well paid, we both worked second jobs for nearly two years, didn't have fancy cars, debt or HP, we holidayed and socialised but sensibly, we've had no cash hand outs/inheritance etc and managed to buy a 3 bed semi in a decent area (£300k) that needed a lot of work a lot of which we did ourselves and kept up the second jobs to pay for renovation. I was fortunate to get promoted after we moved and we continued living on our old income to save and pay for our wedding. My brother and SIL did the same, our friends nearly all own and none of them have had things handed on a plate either, we live in the South east commutable to London.

OP is a single parent with more outgoings and restrictions. Your children choose their priorities and outgoings but could buy property if they were willing to make the sacrifices, and if they don't do it before they have children they really will struggle. Telling them only people with hand outs and wealthy parents can afford to is very negative, but it's easier for them to blame others rather than look at what they can do to change their circumstances I suppose .

Plenty of 2 bed options in Mansfield area for £80K.

I'm also a graduate with a masters degree but that doesn't = high wage in my circumstances.

Thanks @savageswimmer - I think the problem for me is parking. I need to be able to guarantee a parking space I guess! But don't know how I missed those houses. They definitely didn't show up on my search!

Most new build flats do come with an allocated parking space. I can't add anymore pictures as I've reached my daily allowance but there is a 2 bed maisonette for sale in Adbolton lodge in Carlton with a garage for 80k on Rightmove.

Have you expanded your search beyond the city boundary? If these properties aren't coming up, it suggests you're only looking at a narrow area.

Newer build properties will almost always have allocated parking. Don't let parking stop you considering a property, go and look at the area at various times to get an idea for what it is like. Very few places outside the city centre would have no parking at all.

NatWest will go to 102k on your wage. Truthfully I would rent until baby is at primary, take more hours on then or go full time and look about then.

There is plenty within 3 miles of where you work.
Like this wierdo. Like how it's different from the others😁
www.primelocation.com/for-sale/details/50733544?search_identifier=a1bb76636146d538e8956889a6cfd4bf

You might need to start saving really hard, because you are not a first time buyer, are you? So I guess 10% would be required.
I secured 80k mortgage on lower wage than you, but I didn't have a child.

I had my search set to only properties with a garden 🤦🏻‍♀️ I didn't even consider a garden so not sure why that was ticked!

@OftenHangry that house is on an unpleasant council estate that I lived on for 7 years

@ThatFalseEquivalenceTho didn't know. Still love how wierd it is😂

@OftenHangry They are all really weird! The estate layout is baffling. Loads of dead ends when driving around. Terraced houses that are all slightly behind or slightly in front of each other (none the same amount!), built at strange angles, mine had a massive front and back garden despite being a tiny 2 bed, alleyways everywhere.

OP I have a huge 3 bed terrace with a tiny slabbed garden but I’m near so many parks it doesn’t matter.

Sorry but with that attitude you won’t be able to buy a place.

Just a quick google on Rightmove and there are 9 pages of flats under £80,000 in Nottingham including this studio which has residents parking for £49950

www.rightmove.co.uk/property-for-sale/property-79895459.html

I have 2 friends (married so 4 people) who brought up 2 dc in 1 bed flats and then bought bigger and bigger properties when they could afford to move and a single parent with 1 child who did the same but started out in a Stufio flat.

You have to start somewhere and I bet the mortgage payments for a £49000 studio flat is tiny compared to the rent you are paying now leaving you to save for the next rung up.

Nottingham's quite a cheap area. We bought a 3 bed 3 years ago for 70k with a 5% deposit, though houses in that range get snapped up VERY quickly. I fully appreciate that saving for the deposit will be an issue for you, but I think if you can manage that part, you won't have a problem borrowing enough for a 2 bed if it's what you want :)

@Oliversmumsarmy I don't have a bad attitude. I'm not a first time buyer and would need a 10% deposit. Even 5% would likely be £4000 on most places. I wasn't expecting DP to walk out on us, and have no idea how I would even get close to saving that amount of money with nursery fees, bills, groceries etc. I'm budgeted up to my eyeballs and am really struggling as it is. It's definitely not an attitude problem.

She didn’t say you had a bad attitude. Just not the right attitude! Which I agree with, you’re being defeatist when you’ve not even done a thorough search for Nottm, let alone expanded to cheaper surrounding towns!

@Ellisandra I have done a thorough search. There are 36 properties in the whole of Nottingham area that are suitable, a number are shared ownership which I don't want, 2 are upstairs maisonettes with stairs going up the side of the house which isn't suitable, a few are too far out from work and I need to be within 30 minutes as contracted at work. Not being defeatist, just don't think it's that simple or easy! No amount of good attention is going to change the housing market/my finances. I know, I have to suck it up but it's really quite hard !

A fairly decent 1 bed could be anywhere between 110000 and 140000 (lots more expensive than this but I don't even bother looking!). Would ideally like a 2 bed for when he gets older but I guess beggars can't be choosers..

Get something at the lower end and do the help to buy scheme where you only need 5% as a deposit. That's what I did, I paid a 6k deposit on a 115k house. And that was paying more than the 5% as that was originally worked out on 120k.

I'd see if it was possible to get a loan for the deposit/fees.

My sis lives in nottingham and is trying to buy - i was amazed at what she can get for her money round there! I think you can do it.

Not alone OP
I live in the South East and will probably never own 🥺

Try and save as much of a deposit as possible, maybe open a isa specifically for deposit if you haven't already. The more of a deposit you have the lower the interest.

I have done a thorough search. There are 36 properties in the whole of Nottingham

So, you only need ONE property to be right to buy it!

Look in Sutton Ashfield. 20/30 mins to Annesley by car and plenty of 2 bed terraces c£80k

What you mean is there isn't anything as nice as you want, in as nice an areas as you want, that you can afford right now.

To be fair, shared ownership probably would be really good for oyu. You could go in on something like £60k for 50% now - and then when you have more disposable cash once your child is in school/has free hours you can work full time, start to save more and stair case up to 100% ownership.

This is small but there are only 2 of you after all, you can get to work in your required 30 mins and this is probably affordable to you now.
www.rightmove.co.uk/property-for-sale/property-79844798.html