To ask how much your first home cost you?

[redwinegulper]

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

1979, Station Road, Kings Heath, Birmingham.

Paid £8500 with a 100% mortgage from Birmingham City Council.

Just looked and they are going for £280k + now.

2001, aged 24, 1 bed flat in Edinburgh bought for £65k. I’d saved the 10% deposit while living at home after uni (for free thanks parents!).

1990
37,500
As for affordability, mortgage rate quickly went up to 15% and I had a DC so my DH worked 2 jobs so we didn’t lose it.
(I suppose should thank him at some point😁)

£110k. 2010. £22k deposit from a combination of inheritance & savings from living with my parents.

Just under £11k in 1979 - a 3 bedroomed terrace house.We just paid for it with the usual mortgage.

23,500 west yorksire - two up two down in 1988 age 22.

£190k in 2013.

Deposit from savings, the rest mortgaged.

£45,000 in 1997, two bed flat in south east. £5k deposit (my life savings at the time!). No financial help from family.
I bought on my own age 23.
Best decision ever, the market rocketed after that, I sold it 7 years later for three times as much.

18.5K. 1984, Ryde IoW. Three bed terrace.

£24,000 in 1996 - bought with £1,000 deposit (from my granny) and joint mortgage. I was 22. It was a totey 2 bedroom matchbox house with the most convoluted "heating" system ever in a dodgy area in Belfast. We lived there for 4 years and have moved twice since.

Oops, afforded by savings, mortgage and scrimping.

£105k for a two bed starter home in 2003. Had a 20k deposit which my family saved for me as I was growing up. Sold it for £135k six years later.

We bought in 1978. A three bed detached new build on a large plot. Now they would fit four homes in the same area.

We had a few thousand equity from the sale of our 2 bed semi. I think it was 5K. Banks didn't do mortgages. People saved with building societies and they provided mortgages. So DH went to see the building society manager (I worked in a bank and couldn't get time off). He was told to go and find a 3 bed semi to buy. We couldn't have a detached that wasn't how it worked. Seems incredible now but that is what he was told......we were getting a bit above ourselves by trying to jump a 'stage'.

Well then as now who you know counts. So via an old school friend we did manage to get an endowment mortgage through an insurance company. We borrowed 17,500 but were offered more. Made the decision (thank goodness) to base it on DH's salary alone. We would have lost the lot in the Tatcher/Major years. It was so different then. Young home owners lived in dread of interest rate rises. Every time the rates went up the letters stating your higher payments arrived within days. If they went down it took months for payments to be reduced. We did manage to hang on and keep our home, but a family member and several friends lost everything. Fortunately decent council homes were still available then so they weren't on the street.

Like I said I worked for a high street bank. If I was male I could have had a very favourable loan to buy a property. But this was before sex equality. Female staff couldn't pay into the bank pension until they turned 21. Staff with a cock and a pair of balls could join it from day one.

We extended our home (doubled in size) and still live in it. Will probably down size when the youngest two ( at university) finally leave home. Not sure what it's worth now. Would guess at 350K or maybe a bit more as house prices are rising in the area.

2009, SW London. £320k for 3 bed flat. Was 28. Now worth £580k (allegedly ).

75k in 2003 for a 3 bed flat. The value crashed a bit but I ended up selling in 2010 for 95k.

£29,000 for a 3 bed terrace in 1999... my parents gave us £5,000 (£4,000 deposit & we used the rest for white goods) and paid all legal fees, £25,000 mortgage worked out to around £200 a month... 2003 he bought me out in the divorce when it was valued at £45,000 then he sold it for £95,000 around 2010 - no idea what it's worth now.

£72,000 for a 3 bed semi in 1997, it sold for £172,000 10 years later

£180,000 with a £10,000 deposit in 2006 in a dodgy area because that's all we could afford. It's worth £350,000 at the last estate agent's valuation even though the area has remained the same.

£23,500 for a studio flat in 1987. Sold it a few years later and made £400 profit. It's not always been a licence to print money. I had lots of friends in negative equity.

£74k in 2001, very small 2 bed semi near the station in a lovely area. I had a 4x salary mortgage of £60k. I was 18 months out of uni and deposit came mainly from inheritance from a grandparent. I saved up stamp duty/solicitor costs etc.
I was totally broke meeting the repayments but so happy to avoid renting, as went straight from parents.

I still have it, now a BTL as I want to pass it in to my daughter (but according to another thread this makes me a scum greedy LL).

4 bed end terrace for £115,000 in 2016. Saved hard for a 5% deposit, plus some help as people gave us money as wedding presents. Live in the nice old part of a pretty rough (in some areas) town in the north.

215k in 2006

100% interest only mortgage!

£67000 in 1996.
How did we afford it, we saved up!?

32k late 1997.

I was working as an admin person on 10k a year. Mortgage was £210 a month. My take home pay was £600.

32k was expensive compared to some which I looked at. Lots of houses I was viewing were 25k area.