To ask you how much your deposit was for your house?

[VodkaCranberry2]

Dreaming of one day being able to buy a house, browsing Rightmove looking at all the lovely places. So I was just wondering - how much of a deposit did you pay on your house and how much was the house in total? How long did it take you to save up? Any tips on saving?

I had to stump up 10% which was 43,000. Plus lawyers fees, plus tax, plus stamp duty etc etc. Cost me about 60,000 just to buy the house!

That said, where I live the house prices are ridiculous. The average 3 bedroom is around 600,000 now. A small one bed flat (no parking) starts at about 280,000. If you live by the sea you can ask at least a million for your property, even if it’s a tiny shoebox that hasn’t been decorated since 1930! Madness

I was lucky and bought my house when there had been a downturn in property prices- also the couple who owned the house were desperate to sell as they were getting divorced so they accepted my cheeky offer. I did it up and sold it a few years later and made a tidy profit!

£51,250 which was 25%.

Deposit - £40,015
Property Price - £210,000
Year - 2020
Zone 4 - London

Ours was £12,500 (10%) on a 3 bed victorian terrace four years ago. Fees, surveys, brokers fees etc. Roughly about another £2000 I think. We did have savings left after which we used for furniture/appliances as neither of us had anything much beyond a bed and a wardrobe as we both lived with our parents.

£19000 on £165000 house

Floaty I don't know. We bought it for £850k having sod our last house and 2 flats at a loss (1990s property crash) so hopefully I made up that loss over the last 20 years but knowing my luck I won;'t have done. On my divorce it was valued at £1.8m in 2003 BUT the house 2 doors up from mine sold for £1.3m so I suspect the 2003 valuation was too high which meant I was left with a £1.3m mortgage - never divorce a man who earns less than you do.

I would hope it is worth £1.5m and the lower the better actually as I want to live to 80 or 90 and die in the house so its value is pretty irrelevant and if we get some £30k per London house new tax in the future the lower it can be valued at the better. We even used the children's savings and eveyr penny of our own in 1997 to buy this house and then had nothing left to spend on it which is fine. I am happy with the 1980s kitchen bathrooms etc I a not very materialistic. I did in 1998 have put in a fitted office for me as I work from home. That is about the only change since 1997!