To ask how much your first home cost you?

[redwinegulper]

What year was it in, and how did you afford it
?

£41K in 2003 for a 3 bed miners cottage in South Wales valleys. 100% mortgage and also had a small monthly mortgage subsidy as I worked for the bank at the time. I was 23.

£110k in 2006 for 3 bed mid terrace, 100% Northern Rock mortgage.

Went into negative equity with the 2007 crash, managed to sell for £109k, fully refurbished, in 2016

Supa - I did say “ where I live “ . I’m sure there are those who have no choice . That’s what house shares are for .
It’s important never to treat a house purchase as an investment either . It’s a liability. Investments make you money . House price increases are never guaranteed.

2014, £205k, 3 bed semi, rural.
Husband saved for deposit, i used savings for fees.

£272,000 in 2015. We saved a circa £50,000 deposit I think. That got us a 2 bed semi in the South East.

We're still there and hoping to have paid off the mortgage within the next 2-3 years. If we only paid the minimum mortgage repayment it would be £600 a month. My neighbours pay £1600 in rent for the identically laid out house!

£10,750 in 1978. My dp had inherited £4000 and we put down £950 as a deposit. I had to do it quickly before he spent the lot!

If was a 3 bed mid terrace in North Essex.

£139,500 2006 3 bed semi in East Anglia. Needs a lot of work doing to it which we've very slowly been doing.

Other houses like mine now sell for £250k plus. But i think we want to remortgage & extend within the next 5 years.

£60,000 in 1999. Only needed £5k deposit. Seems ridiculous now. We were lucky to have been buying at that time.

£18,250 in 1989 for a 2-bedromm mid terrace. I had a mortgage for £17,500 of that.

£29,000 in 1987. 100% mortgage. Took us ages to sell because of the property crash in 1992/93, but still made a profit.

Mine was 2001, a 1 bed flat in Zone 2 London for 189k. It was a shoebox, really, but on a lovely leafy road right off a busy high street and near the tube. I was delighted with it.

DH (before he was my DH!) bought a 3 bed terrace in east London for 120k in 1996. An area that used to be known as murder mile. He sold it when we moved in together, but its up on property sites currently for 1.4 million .

We bought our current house (4 bed semi in Zone 4 London) for 530k in 2007. Thatcwas absolute top of our budget. House like ours go for about a million now, although the market seems to have slightly slowed down lately.

Crazy crazy London prices.

Three bed semi in Scotland for 55k, in 1992. I was 23 and my husband (then fiancé) had the 5k deposit from some investment with his parents.

79k Euros for a 2/3 bedroom detached house, 2017. Small town Finland is cheap.

£39 950 in 2003 for a two-bed mid-terrace. Lovely little house with a pleasant garden and huge bathroom. We bought on a 100% mortgage and reluctantly sold it in 2006 due to a growing family for £83 000. Crazy times, you just can't imagine anything like that now.

redwinegulper
I'm sure our dc could only dream of houses or flats costing less than £50k today grin

Not sure they would dream of the equivalent salaries, not to mention interest rates back then.

When I bought my flat the interest rate was about 6% and when it increased up to 15% I worked full time plus evening and weekend jobs to be able to afford to pay the mortgage.

If you want really cheap, my parents bought their first house in North London for £350 in the 1930s

£179k, south east, 2016

205k 5 bed, Highlands 2018.
We just saved up for years basically!

£153k - 2006

2 bed terrace in the SE. Only me. Worked 2 jobs (office 8-4, bar 5-close) to afford it.

I was 26. No help from parents (I don't have any), just worked my arse off.

1974 £1500 ....2 bed terraced house with 2 reception rooms, bathroom and kitchen and very large rear yard/garden. East Lancashire. That was about the going rate at the time for houses with no central heating.

We did quite bit of work whilst living in it but it was was more than habitable when we bought.

£38K in 1995. Sold for £120K in 2002.

IvyKaty. I had to hunt very hard to find a mortgage lender who would lend me 4x my paltry salary of £6,800 as most would only lend 3x - 3.5x. I still had to save an £11K deposit. Although I bought after the big crash, interest rates still went up to 8%-ish shortly afterwards. I had a lodger renting my spare room and worked 2 jobs to make ends meet.

£54K in 1993 for a 2up, 2down Victorian cottage in the South East, just outside the M25

2K deposit, which my parents lent me (and I paid back).

£60000 in 1992. 3 bed detached cottage in Herefordshire. Bought with money earned as civilian contractor in Saudi during first gulf war.

2002, 3 bed terraced £34,000
110% mortgage as it needed a lot of work doing on it
Sold in 2008 for 4 times what we paid for it. It’s just been put up for sale again for £170k
We were very lucky, I fear how my children will afford the deposits etc with rising house prices

I understand some of the comments around salaries vs house prices (and interest rates) from the 80s and 90s, but with more recent rises, for many people there has been little change in salary in the same period. Many young people starting out now are earning a similar amount in a graduate scheme or postqualification as roles were paying 10 years ago, but the house prices have risen greatly in that time.
My mum was offered to buy the 2 bedroom terrace we rented in Walthamstow in 2006 for £170k, the same house would be worth 3x that now. My £350k house bought in 2017 in zone 6 would have been around £230k if we had had sufficient deposit and income in 2014 to buy it then.