How do people afford to buy a house!

[Itonlymakesyoustronger]

Is it me or is buying a house a massive struggle!

Without boasting I have managed to save 45k, to some it may seem nothing but to me its a huggee amount. But after calculating mine and my husbands wage we could only buy a house for £290k, where we lived that wont even get you a decent 2 bedroom house! I don't know how people do it! when I search right move a two bed house is 320-370k.

How do you afford to buy a house, what jobs do you do?

I know Mumsnet hates new builds - but that's how we bought. We bought our 4 bed detached new build for £245k. We have a joint income of around £75k, £12.5k deposit, help to buy equity loan of £30k and the rest on a mortgage. I think our mortgage is around £700 a month. We plan to pay off half of help to buy in 5 years and remortgage the rest as I'll be back full time then and we can afford the extra.

It's not the Victorian house of my dreams, the bedrooms are small but we have a great sized garden, are fully detached and we own it.

We are in Wales, so I appreciate house prices are lower.

You also now say you don't know where the GF's deposit came from having put it down to saving before
Yes it was savi gs but I dont know if she started saving at tbe age if 2 12 or what. I dont know if her savings came from an inference or her mum saved for her. None of my business. All I said to them both is to try and put an equal amount if savings in if they could.
BTW did your son rent before buying or did he live at home? Pay market rate?
They rented together, market rate as far as I'm aware

What's been left out?
I have never implied that if anyone cant do it is is because they are not trying.
I said in my first post words to the affect that location is the most important thing.
If they lived in London or the south they wouldnt stand a chance.
Ds didnt want uni or college. He got a great apprenticeship with a good employer at the age of 16 and has progressed in his career, he pissed a lot of money away and grew up and started to save hard late teens. That's it for him.🤷‍♀️

We're looking to buy for the first time but have had to move out of an area that I love passionately and never thought I would move from. This will result in a longer commute and living in a slightly "edgier" area than we do currently but it really is the only way round the problem.

We're fortunate DS is off to uni next year so we don't have boring but necessary things like school catchments to take into account.

I started out with a 1 bed flat.

Have never lived anywhere detached or with off street parking, both of which are MN obsessions but reflect the way millions and millions get on with their lives.

Yebbie my son bought his detached new build about 18 months ago (Bellway) and it is lovely. I was certainly not a fan of newbuilds but his is certainly so well designed. The garden is smaller than an older house would be but he is detached with 3 bed rooms and 2 bathrooms plus downstairs cloakroom and everything clean and new.

I don't think anyone is saying everyone can buy. in about 1900 90% of the UK rented from private landlords and 1m people lived in as live in servants to the rich and to the middle classes.

However for middle class professionals with 2 full time salaries who are prepared to endure a worse area or move away from inner London and buy before they have children it is still possible to buy somewhere even without parents to help.

So called ‘edgy’ areas, feared and abhorred on MN, are actually teeming with FTBs living decent lives.

People react in horror to places like Croydon or Thornton Heath, full of people who were priced out of Brixton, Balham, even Streatham as time went on.

It’s a matter of budget.