AIBU-Sick of the narrative that young people can’t buy homes?

[Henryhoover12]

I had a heated discussion with some friends who said it’s “impossible for young people to get on the property ladder these days”.If they do their parents either lent them the money, gifted them the money or they lived at home rent free to save up. It’s not just my friends a lot of people of this age go on about it.

As a young person myself I’m bloody sick of this narrative, anything can be done if your willing to make sacrifices and prioritise for your goals which most young people aren’t. I purchased my own 4 bedroom home at 22 (few months ago) WITHOUT any help from family and whilst paying rent on a flat WITHOUT help from my family to pay for.

I called out all my friends who are blaming how it’s going on their ability to stop online shopping for new outfits every event, going out for cocktails, getting hair/nails/tan done weekly, Taking flashy cars out on finance, etc. that if they stopped then they to could buy but I got told I was being extremely unreasonable and that it’s impossible, well is it or do they not just like to hear the truth.

@Fatgalslim

Well I'm calling bollocks because there's no way you saved enough for a deposit after uni for 3 years AND travelling AND paying rent and bills AND the fact you're only 22.

If it is true please, tell us how you managed to save for the deposit on a 4 bedroom house after working for probably a year, maybe 2

I agree with this. Once I finished uni and did a masters degree on top of that, which as i had to do, it took me years to save for my own place. Was paying rent and bills. No frequent nails, hair or other treatments or mad nites out. No one to bank roll me I did it all myself. Yet OP comes on here and brags about how she had saved and got her own place by aged 22.

[quote parchedjanuary]@Henryhoover12 I'm confused. You bought your house at age 22 ? Prior to that you spent 3 years at university (taking you up to age 21 at least).. and you went travelling?

I don't understand. How did you do this?

I'm honestly just trying to understand.[/quote]
And was also paying rent on another property. Strange how she's avoiding answering the question about the husband too 🤔

@Latetothefisting The OP was implying any old young person in her area can buy a £200k 4 bed with enough hard work. I don't disagree a £125k house is much easier. We bought one at 23 with a 5% deposit on £14k each!

@CheesusWept

Molly Mae, is that you?

This was my exact day thought

That is total rubbish

Where do you live? And are you aware that not everyone has the same circumstances? Also, do you know how much the minimum wage is and do you expect someone working minimum wage to be able to buy a house? Although I suppose your attitude would be 'just get a higher paying job' hahaha

OP, I bought a house at 24 with my husband- though we did have a loan from family. We lived in an absolute shithole for 4 years whilst we resaved enough to do it up. 10 years later we have around £300k equity. It was fucking miserable and I look at my friends who rent their flats but spent their twenties having fun (not worrying about how to pay for a new boiler) and I'm jealous of them. I spent my 20's skint and embarrassed to invite anyone round.

Comparison is the thief of joy and home ownership is not the be all and end all.

@Applesonthelawn - that really illustrates how wages have stagnated.

@Henryhoover12
How sad that you’ve mortgaged your life already and not expanded your horizons by travelling and working abroad.
I know Covid has made that difficult but your lack of ambition to broaden your horizons before you have to settle in the same place you’ve always lived is quite telling.

So much will depend on where you live.

Anywhere around here (outer SW London) prices have been crazy for years. Half a million pounds for a modest 2 bed flat in by no means the most ‘sought after’ area. They’re going for that even in areas that not long ago were thought decidedly grotty.

Often it’ll be the case that mortgage payments wouldn’t be any more than the monthly rent, but it’s saving the whacking great deposit that’s the problem, when rents are also sky high.

Obviously some people do spend a lot on takeaways, daily coffees and lunches, nails, etc., but that is IMO by no means the case for everyone who would much prefer to buy than rent, and is saving what they can.

I'd be interested to hear what your job/salary are

You're 22, just bought a 4 bed house on your own, aldo went to university and travelled?
How old were you when you started uni, 13, 14?
Come on,

I really do need to go but some of you do make me chuckle.

-can’t you use husband and partner interchangeably? I am married to him but that doesn’t change the fact he’s my life partner
-speaking of my other posts the nightmare neighbours moved thankfully and the new neighbours are lovely (and HAVE DOGS) and my husband/partner/whatever I can call him swapped jobs so actually we’re not stuck at all.
-this post wasn’t intended to come of smug but in true Molly mae fashion we all have 24 hours a day as Beyoncé and she purchased a mansion at 19 so why can’t you (this last bit was a joke please don’t come for me 🤣🤣)

In certain markets with low wage / unstable employment it makes sense to be a renter. As soon as you're a homeowner you get fuck all help with housing costs from the government if you become unemployed, life insurance and critical illness cover can be a huge amount per month, plus saving for massive purchases like boiler replacement which are usually paid for by the landlord.

I can't see anyone yet who has mentioned the fucked up situation with interest rates for savers either. Even in a fully locked down for years saving/investment account, you're lucky to get 4% and most current accounts are now 0%. The way the economy is being managed to enable mortgage payments to be affordable is making peoples savings actually become less valuable against inflation.

I'm assuming your fabulous job that bought your 4 bed house isn't in banking or economics

But if a stealth thread really
Good for you but don't judge others each area and peoples earning potential are very different
Not everyone can even go to uni
You have bought in a cheap area and never speak to soon , redundancy and job losses happen or illness etc so never be too smug as you don't know whats around the corner , none of us do
Maybe some people don't actually even want yo buy a house in many countries its not a done thing
Live your life be proud of your achievements but don't knock others on the way up as they will be queueing to knock you if your ever on the way down

@Henryhoover12

For the record. I do apologise but I thought it was clear when I said it was my house. This is is MY house 100%. My partner was also similar minded to me and has his money invested elsewhere. We keep our finances separate, just works for us really.

And again my friend also has a partner who she wants to buy with and his family have even offered them money but they know they’ll just splash it all.

Aren’t you married? (Just going on other peoples comments)

I’ve got news for you if you are - your finances aren’t as separate as you seem to think they are.

Plus it matters to your OP as your sharing living costs.

@Henryhoover12
You come across as an extremely conceited brow-beater.

Whether you're 22 or 102, all it serves to do is piss people off.

Get off your high-horse and remember after pride comes the fall.

With such an immature jumped up attitude be careful not to piss off your employer otherwise you may not be able to meet those mortgage repayments for long.

Oh, and paying rent on another property

Fucking horrible post.

Also many 22 year olds aren't ready to settle down
Come back to us all when your 42 and lets see if you have totally the same outlook

@Henryhoover12

I really do need to go but some of you do make me chuckle.

-can’t you use husband and partner interchangeably? I am married to him but that doesn’t change the fact he’s my life partner
-speaking of my other posts the nightmare neighbours moved thankfully and the new neighbours are lovely (and HAVE DOGS) and my husband/partner/whatever I can call him swapped jobs so actually we’re not stuck at all.
-this post wasn’t intended to come of smug but in true Molly mae fashion we all have 24 hours a day as Beyoncé and she purchased a mansion at 19 so why can’t you (this last bit was a joke please don’t come for me 🤣🤣)

Well you came on here to brag like an immature teenager. So now you’v done that off you go.

I do kind of get where you are coming from in the sense that sacrifices do need to be made when saving for a house. If people are regularly spending lots of money on non-essential things and at the same time saying they can't afford to save, you do have a point.

However, on the flip side, I think yabu to criticise people for saying it is impossible for young people to get on the property ladder these days without any help. I agree with your friends that it is impossible. My dh and I rent our house and all our friends own. All except one did it through parental help, and we have had the patronising 'it is easy' line said by these friends to us , and we don't spend frivolously. I know you are saying you did it on your own, but the point I'm making is, it is unfair of anyone who is fortunate enough to have their own house to make dismissive comments to others that it is easy when for a lot of people, it isn't.

If you work hard and don't spend frivolously it of course, does help, but everyone's circumstances are different. Many are forced to start off renting because they can't stay with their parents, and then end up paying most of their income out on rent so therefore can't save for a mortgage deposit. Rents are crazy these days and leave many who don't have access to a mortgage deposit with no choice. I could go on listing other reasons why it isn't just a case of working hard (e.g: health, family illness, not 'finding your feet' and knowing what you want to do in life until later on, low income job, ptsd, etc). If people have to start off renting then it is indeed impossible to get away from renting and into a place of your own.

As a renter myself, I find myself getting increasingly frustrated with comments that it is easy and just a matter of working hard, as I work hard, and so does my dh, however only manage to save a little every month with our high rent.

If you feel that your friends are being entitled and just think parents should be giving deposits and they aren't even going to try because they don't have that help, then fair enough, for that yanbu. But please don't just assume it is easy because you did it.

OP had obviously forgot what she had put in her other threads when she started this one

Funny how on another thread started by OP she says her and her partner got married 2 years ago and had 'just got a house' then.

So what is it OP you bought 2 years ago (when you were apparently 20 and had just got married) or you bought a house a few months ago? And where exactly does uni and travelling fit into all this?

Whichever it is there are definitely lies somewhere

@over2021 exactly , glad it worked out for you know though
But posts like this show there always two sides and we often want different things from/ in life
Doesn't make one person right or the other wrong
I missed the property ladder , then had kids etc but my kids are my world and worth more than any house and im grateful for what we do have
We work hard give the kids the best we can and enjoy life
Sometimes i wish I owned a house other times when I have an issue and I pick up a phone and someone fixes at no cost to me im more appreciative of renting