To ask how much your first home cost you?

[redwinegulper]

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

Just checked again, and it sold last year for £425,000! Madness.

PS We saved to buy it and my OH used some inheritance money from his Grandma.

About £40k 1984, 3 bed terraced, zone 5 outer London (where I still live). We needed two full time salaries (before children) to be able to buy and had to be in professional jobs - head of dept teacher and solicitor in London.

Those houses cost £400k today although they tend to be much better done up today. £40k in 1984 is £126k today after inflation but we were paying 16% interest at one point so it was certainly not cheap compared to a £6250 salary etc.

A couple in our jobs buying before babies can buy today if they can raise the £10k each deposit (for a 5% deposit - 2.5% each).

How did we afford it? My husband sold his house in the north of England although that didn't realiise much as London prices were so very much higher. We both had been saving like mad and we both worked full time and had no children and I suppose specifically because I chose London commercial law as a career when I was a teenager precisely because I wanted to be able to afford a house rather than knitting or basket work or something.

1989 - North West - one bed house £32000. Sold in in 94 for 31,000! They sell now for £90,000.

Then bought 3 bed house for £40k (not a great area) in 99 and sold for £85k 2 years later. Sell for about 130k now.

Last one was bought for 115k (3 bed detached) and sold for 175k 16 years later

£85k 2008. About a year before the market crashed

Still live there now, no increase in value. This is in Liverpool.

Dh bought the house when he was 18 and we transferred it to joint names when we got married 3 years later

He bought it for 58k in 1987

It was a 25k loan from bank 25k loan from parents and 8k inheritance

The first house we bought together was a mortgage of 50k and was 62k in 1994/5....we bought for around the same price that we sold

£75,000 in 1998 2 bed terrace in SE London.

2016 greater london 252k maisonette which needed alot of work. similar selling for 290-300k.

Was working at the time, met DH we were both renting so got a joint mortgage.

£27,000 in 1999 - the South Wales Valleys were cheap (still are but not as cheap - it's roughly tripled)

my partner and i saved for years to get deposit (and money to do up the maisonette).luckily was allowed to live at home whilst we did this.

we could of bought a house if we went further out but needed to stay close due to childcare, school and work.

it is really true how wages dont equate to the same as they used to. myself and my partner both earn a good wage but still couldnt get the elusive house in our area. its a luxury to live in the place youve grown up in now.

I chose London commercial law as a career when I was a teenager precisely because I wanted to be able to afford a house rather than knitting or basket work or something.

I would have chosen law in London too, but frankly am not bright enough . It’s not as easy as choosing. You probably worked your arse off and are naturally intelligent. Good for you! Don’t diminish it by saying “I just chose the right career”. It’s much more than that.

3 bed semi new build £203k
Help from grandparents with deposit
Now selling for approx £265k

And as others have said 100% morgage, cheaper than renting

I chose London commercial law as a career when I was a teenager precisely because I wanted to be able to afford a house rather than knitting or basket work or something.

Ugh bold fail above! You are? I can’t even do bold on mumsnet 😂. Imagine if I’d “chosen” to do law?

You see*. Ffs

£700 in 1985, sold it in 2007 for £153.000
Borrowed the cash off my parents in law and repaid it over 3 years.

First house was 3 bed victorian semi, 26k in 1986, I was 19, put down £500 deposit, mortgage for the rest, same house in Southern Hampshire now worth £280k...should have stayed there :-)

DH bought it for £245k in 2011. It's now worth £410k. We have probably spent £60k doing it up and buying furniture.
It's a 'naice' area and local schooling is excellent so house prices here keep rising.

Oh goodness ididnt say where it was

It was in the south

Right at the bottom

£34,400 in 1993. I still live there

Bought first house with partner 2017, I was 23 and he was 27, 130k, put down deposit of 30k savings, doing a lot of work to the house and the value has increased since

38,000 4 bed semi in Waveney Valley Norfolk/Suffolk border.
1992

£45k for a big 2 bed in 1993. Saved up for the 10% deposit.
Couldn't afford to buy it alone as a ftb today according to the value on Zoopla.