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.

@Henryhoover12 why do you keep mentioning the Audis? They’re a bit irrelevant.

you just had to put the work in

I did. Practical degree - so 4-5 hours a day of practical training on top of lectures - and working on top. Guess what, some months I had to borrow £30 off a friend so I could eat until payday. Do you realise how offensive your narrative is getting now?

I know where you're coming from OP. Both dh and I bought properties in our early 20's (separately) we saved our own deposits and didn't receive financial help from our parents (although dh did get help with doing work on his). It was hard going sometimes and I didn't have as much disposable income as my friends.

The properties we bought were not in desirable areas but that's why we could afford them!

Even now in the very expensive area I live in, you can buy a one bed flat for about £180k. You could get a house for that if you moved to a less desirable area that would still be easily commutable to the nearest city (in fact, the choices of areas to live with cheap property are vast)

What people tend to mean when they say they can't get on the property ladder, is that they can't buy the house they want in the location they want.
Well no, that's something you have to build up to- we didn't buy our dream home until we were in our thirties, and even then it's because we bought early and worked our way up the property ladder.

Unfortunately we are not entitled to buy our first house in the area we grew up in or that has the best bars & shops etc.
It annoys me when people in desirable seaside towns moan about their dc's being unable to buy a house - well, I live in the middle of the country and my dc's won't be able to buy a house here either and will probably have to move further out at first. That's life.

If you can get a mortgage, you can buy a house. Some people want the moon on a stick these days!

Looking at the multiples, it obviously isn't easy and lending criteria are tighter, but the newspapers always quote the average house price. Who buys an average house first?
And most people want new and perfectly furnished. I bought a tatty one bed and slept on the floor for months. Bought a fridge in month 2, a bed in month 3. Made my own curtains, redecorated myself, dug & turfed my lawn first autumn. Went without holidays for 10 years.
I think fewer people are willing to have a go, get their hands dirty, live with less than perfect, which adds £000s to the cost and years to the wait.
So six of one, half a dozen of the other really.

Presumably travelled during covid too which won't have been easy....

Even in a cheaper area, that is quite an achievement.
I brought my first house at 22 but it wasn’t 4 bed and I did receive a small inheritance which undoubtedly helped.

@MargaretThursday

So you've done 3 years at uni, (aged 18-21yo normally) and travelled for a bit (a year?) and are only 22 but saved enough for a 4 bedroom house.

And while we're dreaming I'd like someone to take me on a holiday somewhere warm with a pool and I'd like to be a size 8 without having to diet and eat as much chocolate as I like.

Anyone else?

Some uni grads are on 40k starting salaries. The OP is clearly living in a cheap or not as good area to be able to afford a 4 bed at this age but that’s ok. Everyone has to compromise at some point. Probably better to get on the property ladder sooner rather than later.

@Horriblewoman

How much do you earn?

How much was your deposit?

How much was your house?

Do you have student loans?

Just going to quote myself in my quest for context

I guess if you live in an area where you can get a 4 bed house for £120k ish it’s do able for a single person on a salary of £25k, if you get a mortgage. Forgive my ignorance but I don’t know how many areas you can get a house for this amount, I live in a £££ part of London which has skewed my perception of house prices!

I think it is more difficult now as house price relative to salary isn’t what it once was, so I’m sure it’s not impossible but I don’t think it’s easy!

You're right, clearly they are ALL lying and all the news reports and discussions had on this are a complete fabrication.

Because you managed it (and I dont believe you, by the way), clearly the "young" are fibbing for likes and clicks

Where did you buy a four bedroom house in Wales? Is it a bit of a do er upper in Connahs Quay or Rhyl?

Well you can't stop there OP, you must tell us how you did it. There are those of us with adult DC who are struggling, who would love to pass on your tips! So, come on, you left uni at 21, so started work at 22 and immediately found yourself with savings of at least £35k for the deposit.. ....I'm on the edge of my seat!

Goady bullshit.

I'm always waiting on OP disclosing that she has actually bought her house on the help to buy scheme with a shared equity of about 70/30 with their share being the 30%

What is your salary?
How much was your house?
How much was your deposit?

I can understand that it’s easier to buy in Wales but you must also be on a good salary to have been able to save a deposit in such a short space of time, and to get a mortgage on a 4 bed house by yourself.

@Porcupineintherough

Well it does rather depend where in the country you are and what you earn.

I bought my first flat for 40k when I was earning 16k. These days someone in that same job would earn 19k and the flat would now cost 120k. So much more difficult.

This is exactly right. My first flat I was earning £27k and it was £60k . Similar job would now be about £40k but flat would be at least £150k so much harder to afford and pay for a deposit.

Yes, you've done well in getting a house at such a young age.

However, house prices in Wales are a lot cheaper than most places in the UK. There were 10 4 bedroom houses on Zoopla that are under 100k. It means that you only need a 10k deposit for a house for a 90% mortgage.

In other areas in the UK, you'll need 3x or 4x (even more) that to even get on the property ladder. So it's easier for you to say you've bought a house and you're lucky in some ways, you've not had to move away from your friends.

I would say don't criticise your friends for their choices - not everyone is going to have the same mindset as you. Don't forget your roots too.

A four bed house where I live will cost £600k minimum. So you need £60k deposit and a salary of over £100k a year to buy that on your own.

I'd love to know how much your house cost op?

Can people just read what I’m saying instead of asking the same questions that I’ve already answered. My point is and remains: that person A (me) who earns roughly the same salary as person B (my friend) can buy a house in the area we both live in as a young person as it is possible. However person B wants to do that whilst having her cake and eating it to of having a flashy car that she can’t really afford, going out every weekend, ordering stuff on klarna every other day and that she can’t really moan that the opportunity isn’t there for her. Also it’s coming from a place of frustration not gloating as actually person B lives rent free at home where as I was paying rent, her parents supported her through uni whereas I had to make do, her parents helped secure her job whereas I had to do my own. So it’s frustrating hearing her moan.

Also for the people who say I worked for 1 year I worked for 7 all through my studies and that’s how I afforded it.

Again I repeat I live in wales which I know is cheaper then London but it’s the fact that young people in wales still say they can’t buy!

Before you bought your house, where did you live? Was it with your parents rent free?

The average price for a 4 bed where DD lives is around the £1m mark. So go on OP how much was your 4 bed? I bet it was less than the price of a 2 bed where DD lives.

A quick Zoopla search tells me you can get a 4 bedroom house in Port Talbot so I suppose it's all relative.

• a 4 bedroom house for £50k, posted too quickly

@Sugarsugar25 thank you, I think it’s my roots that exactly got me to where I am. Never had support and never grew up in a life of luxury so I knew I always had to work hard for my self which i did.

So basically, if you live in a very cheap area of the UK, whilst having a reasonably good job and did a degree which allowed you to work and save as well, you can buy a house. This is totally different to saying 'Young people can buy houses'.
Don't you see that?

OP, in principle you have a point. Yes it can be fine with a lot of budgeting over a long time. But if you are a sole earner on a min wage in London, maybe not. If you are earning £30k in Wales and bought your first house for £80k, then that can absolutely be done. No magic there.
If you want your point to stand up then you need tell us how much you earn and how how much was your house.