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.

My niece and her partner did it. Saved as students and then in their first jobs. Bought a two bedroom flat for £220000. Neither on a huge salary- below or around national average, but prioritised deposit over other stuff, so no car, holidays were generally wild camping and food shops were carefully planned.

@ShanghaiDiva

Your glib comment that anything can be achieved if you make sacrifices makes you sound very naive.

100%. If it were true everyone would have everything they ever wanted. Life isn't like that.

That’s great that you can, others aren’t that lucky.

@Royalbloo

Unless you actually bought the house, outright, you qualified for a MASSIVE LOAN.

Congrats on your massive loan...?!

This is accurate, you’ve been smart enough to take out a massive loan.

But.. a loan that almost certainly will see you have gains when you sell (unless you got some 95% and did nothing to maintain so it’s a dive). So ultimately, getting a massive loan is a great idea.

We’ve made money on getting a massive loan, it’s a risk.. right? You agree to pay quarter of a million or what ever it is to you within 15/20/25 years and they take the house as collateral.

If you pay on time every time you get to sell it and make a profit.

It’s the responsibility that gives you the equity.

You would not be able to have done this in anywhere in the South of England. It's a simple as that.

I do kind of see op's point my cousin (who is 25) still lives at home and we were talking about what outfit to wear to an event in a couple of months, I'm in my 30s, good job and have my own home. Her outfit was £300+, mine was £60. This sort of thing happens a lot and I earn more than twice what she does. Priorities do seem to be different.

But at the same time I do kind of get it. To get even a 10% deposit for terrace where I live would take her a couple of years of saving (and having very little during that time) and that's before you consider fees. It is a long time to go with nothing. And every year the house prices go up again, so just when you think you are nearly there...

DS (28) is house hunting - by living at home has managed to save deposit of 30k plus 10k for fees and furniture etc plus any immediate jobs that need doing
He will be looking at houses between 180 and 200k which is most he can get a mortgage for as buying on his own
No inheritance or huge help from me - although I have promised to help out with white goods up to 2k as DD got same for wedding dress and bridesmaids outfits

Just had a look on Rightmove and there are lots and lots and lots of 4 bed houses for sale for under £100k within 40 miles of Cardiff.

Had a look at 4 bed houses within 40 miles of Oxford, and the lowest price was £325k.

So far I've established that some areas of the country are cheaper than others to buy a house. Follow me for more amazing insights.

If she'd saved around £6-7000 a year since age 16 then this would be possible, but that's £583 a month though. If you factor in time away travelling then obviously that increases.

But lets stick to £583 then add rent, low rent of around £500, council tax around £120, bills - water, gas, electric, wifi, phone £200, food £150 then add what would have been in tax and NI and you would have had to be earning just over £20,000. Obviously variations if living at home and not paying out so much.

It is doable but not sure where you ever saved enough to go travelling or managed to be at uni full-time for 3 years.

Your story does not stack up. How much do you earn?

Wow, you're so great, OP. No like those other people.

If you bought a house with a partner then that is relevant as you only needed half the deposit. Why so coy about your salary? You are just a person from Wales - why would you wish to keep your salary so secret? Your circumstances when studying are also relevant. Did you live with your parents and therefore have fewer expenses?
I think it is very difficult to buy a house. You sound smug and the fact that you won't fully describe your circumstances make this very suspicious.

OP .... regardless of the finer details of prices, circumstances, geographical areas... I think more young people would do well to have your attitude. So well done!!

Using insults like "snowflake" really doesn't help. Daily Mail verbage smacks of an opinion based on prejudices - not facts. If you have/ had supportive family and structure around you and the means to get into work confidently and have bought a house then well done, but most people aren't looking to be taught lessons by someone who probably has no idea about their own story. "Working hard" doesn't mean being able to buy a house. Most people do work hard. I'm guessing you have supportive family - in whatever shape or form - there's no way someone who really made it on their own would talk like that.

I think more young people would do well to have your attitude.

Why would you encourage that!

No inheritance or huge help from me -

Living at home is a huge help though, many don't have that option.

That’s easy to say when you’re buying in Wales. Where I live you’re looking at 600k for a 4 bed, absolute minimum. Over 300k for a terrace. You still think that’s easy?

Not read all of this so maybe this has been posted already. This chart isclear. The anecdotes of a few who got lucky do not outweigh the insane UK treatment of accommodation as an investment vehicle prompting prices to gold-rush out of affordability for most if not all young people.

You've mentioned you worked hard for 7 years but not what you worked at? I''m very curious about the job you managed to find, in Wales, alongside studying, that enabled you to have such a great deposit.

But what you say is also true that they expect much more luxurious lifestyles than previous

What does this mean & is there any proof?

You can buy a 3 bed semi in Neath-Port Talbot for 85k. The downside is, you have to live in N-PT....

@dafey
I agree many don’t have that option - I didn’t
But DS hasn’t lived here rent free - he has been sharing food bills and paying me £300 a month whilst still saving - I will miss him and the contribution to my living costs when he goes

Hoping to make it to The Mirror again, op?

www.mirror.co.uk/news/uk-news/little-girl-so-allergic-dogs-24778670

I worked as a student and weighed 43kg as I often couldn't afford to eat, so no despite working hard and not buying 'designer gear' I didn't manage to save to buy a house.

You don't sound very smart.