Let's do the math for Kirsty regarding an affordable home

[kirstyalslap]

I'm sure everyone has heard that kirsty Allsopp has came out saying that people can afford homes if they only cut out netflix, the gym and takeaway coffees.

I just worked out a meal deal costs £3 a day. X that by 5 days a week 52 weeks a year is £720. Netflix is £8 for 2 screens (?) so times that by 12 months is £96 a year.
Let's add a £20 takeaway every 2 weeks for good measure. £520. Gym costs £14 a month so £168 a year.

So in one year of cutting back on netflix, lunch for work and takeaways I can save £1504
Wow
Now I need 14000 for a deposit so I'm only 10 years away (probably a little but more actually including fees.)

Right now let's think about increase in property value.
My parents bought their house 8 years ago for £90 thousand. A massive 2 reception with 4 bed and 2 huge gardens with a drive.
Bad condition.
Last year the neighbours sold for £230k
This year the other neighbours has been valued at £280k. My parents are thinking of selling for approx £290k.
So in 8 years their house has increased by £200k
(this hurts me as I started saving 8 years ago, nearly 9 and was looking at saving for a smaller house for about 80k needed 4k at the time and had a 5 year plan to get there. No family helping with deposit)

£90k now would get you nothing at all.
Also you need a 10% deposit.
Also rents back then was £500pcm for 2 bed flat. Now they are £700+pcm for same flat.

So how can we do it? How? Please tell me!

Oh also, everyone I know saving for a house has already cut out take away, meal deals, gym (first to go come on!) and much much more.
Batch cooking, shopping around for deals, having friends round rather than going out.
Every thing is rising in price now, I don't know how my children will afford to live away from us, it is scary because as much as we are okay now, we won't be able to have 3 grown adults living in one bedroom until they are in their 30s! Or will it be 40s or 50s by then?

I can see a tiny tiny bit her point but not for most people
My colleague rents. His girlfriend earns a lot (they rent together) and he pays £400pm for his car which is more than my mortgage (cheap area)
She also has a similar car, similar cost. So that's £800pm straight out without including the insurance which is ££ as they're expensive cars. He told me how her new working OOH job pays £800 per shift, and yet still renting and not saving

Kirsticles is in a bubble that most of us have never seen the inside of. But at least she has sparked some I interesting comments here today.

Kristie Allsopp is a total gobshite.

Don't give her any headspace.

Sorry link fail before
www.rightmove.co.uk/properties/117864509?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY

@HappySonHappyMum

My DS earns 24K - 20 years old. We charge him no rent so he can save. He has very few outgoings apart from his car - which he needs for work. He's saved 14k in one year. Even so if he wants to stay in the area he works and lives now a flat is going to cost in excess of 200k. He's going to be living at home until he's 40 isn't he!

Eh? He will need a 20k deposit plus around 10k for costs.

So another year and he'll have nearly done it!

[quote notacooldad]**@notacooldad you wouldn’t even get a “starter” home in most places “up north” now

Hahhahahhaha. Even 90k for a starter home up north is a laughable comment tbh

First town I looked at and this is round the corner from my nephew. Decent house.
Someone else has put up a house for 90k earlier on[/quote]
I LIVE up north.

I know how much houses go for around here.

Where are people up north supposed to move? The North Sea?

www.rightmove.co.uk/properties/119586224?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY

Another one 15 mins from my work place.
I'm not sure why people are making out I'm deluded when I say that there are areas you can get decent starter homes for less than 90k. I'm not saying that it's like this in the whole of the area but these places are on a comuter line to Manchester or wasy to get to Preston or Lancaster.

I rest enjoy Kirsty's property shows (not the rubbish xmas ones) but she's way off the mark with the comments she made.

She already acknowledged that she herself, had financial help from her parents.

Kirsty has previously made comments about motherhood which quite frankly, I think she should have kept to herself.

On both accounts, her comments were sweeping, & showed a lack of understanding of other people's circumstances.

RedToothBrush
Where are people up north supposed to move? The North Sea?

I have never suggested that anyone comes here at all so font lay that one at my feet. I said there needs to be investment in affordable housing for young people in the south or south east.
Me saying, actually you can buy houses for 90k was in response to someone saying it wasnt possible to buy a house for that amount.

Maybe Kirstie and Prince Harry can get together to inform the people of England how to manage their money better and buy property .

@SirChenjins

Ds aged 25 has bought a semi for £170,000. Ds 21 has bought a 3 bed semi for £140,000

Those are substantial deposits they've managed to save by a very young age - plus the cost of furnishing both houses.

I had to laugh at "plus the cost of furnishing".

When we bought our first house, there was no money left for furnishing.
DH had won a plastic pouffe seat in a raffle. That was our only furniture the day we moved in. Previous owner had left a cooker.

It had open-plan stairs. We sat on a stair with dinner plates 2 stairs up.
My MIL gave us a (very) secondhand mattress (no bed base) which we slept on for years. On the floor.

There was literally no money left for furniture. The first thing we bought ( after much scrimping and saving) was a twin tub washing machine. Then a very old Mini. Eventually we bought a sofa which almost filled the very tiny sitting room.

[quote notacooldad]Sorry link fail before
www.rightmove.co.uk/properties/117864509?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY[/quote]
Ah Chorley, that well known business capital full of well paid job opportunities.

To be fair, I’m surprised at that house being that price, but I don’t know the area.

As I said previously, Bradford, well known for all the wrong reasons, would price out most young people apart from the worst areas.

This is a coded message. She knows full well as does anyone who understands fiat currency, that it is not possible for every single person to own their home (pay 100 years’ rent in advance to the Crown) and only those who rise to the top will ever do so. It's correct that anyone who wants to enough can. Not everyone will want to “enough” as in they will always prioritise other things and find ways to remain in their position of perpetual lack. She’s fuelling the fire and causing in-fighting amongst the masses which further distracts them from prioritise approaching the level she is at.

@notacooldad

www.rightmove.co.uk/properties/119586224?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY

Another one 15 mins from my work place.
I'm not sure why people are making out I'm deluded when I say that there are areas you can get decent starter homes for less than 90k. I'm not saying that it's like this in the whole of the area but these places are on a comuter line to Manchester or wasy to get to Preston or Lancaster.

That's cheap because it's tenanted. Minimum 25% deposit for a BTL mortgage.

Ah Chorley, that well known business capital full of well paid job opportunities
Easy to mock!
It's on the commuter line to Manchester. It's right next to Preston.
I'm sure the people of Chorley are going to love your put down comments while you try to mock me..
Chorley is right next to Buckshaw. People there seem to be having great job opportunities. So maybe a starter home a mile or so away isnt so bad.

Regarding houses up north - the difference is that the cities are commutable by car. It’s possible to live 30-40 minutes drive from a city such as Leeds or Newcastle, buy a 3 bed house in a deprived ex-industrial community for around £100k, and be able to commute to a city centre job. That would be impossible in London because it’s so big, the city centre isn’t commutable unless you actually live in the city.

Can’t stand her. I’m sick of all these poshies telling us how to live. It seems worse than ever lately! They don’t have a clue.

That's cheap because it's tenanted. Minimum 25% deposit for a BTL mortgage
Fair commentvabout that one. But there was another 36 houses and apartments available in the area within the price range.
Ds2 looked at one for 90k but was pipped to the post.

Just looked in our area and you can get a 1 bed flat for between 150- 130k
And we are an hours train journey outside London.

Would it be a instagramable show home? No. But it would be a start and if things continue how they are, it's a better investment for your money then most things!

I live in the NW. There are houses for cheap prices, ok they may not be the most smart area, or the nicest house but they are there! I paid 87k for my first house which was a 3 bed

https://www.rightmove.co.uk/properties/117604031#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/113872685#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/119393696#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/115124654#/?channel=RES_BUY

@adoreyou on mumsnet people tell you to future proof your home i.e. buy a 3 bed terrace or semi-detached to 'future proof'. in london, they at least concede that this is impossible and advocate for garden flats ( I suppose if you have a private garden you can get one of those pod home offices and that can be a third room); and some top floor conversion flats have stpp to extend into the loft.

But yes,a lot of these homes were second stepper homes and even if you move into a cheap area, some of those cheap areas are no longer cheap after a few years. I am in my 20s and most people my age want something big even if they have no DC. They look further out, but honestly those 3 bed houses in zone 5 or the home counties are the same price or more than my flat.

I do wonder if we will see a swing back to flats after they dropped off during Covid as they are cheaper to heat? Perhaps not though due to service charges of over £100 a month even in places like Middlesbrough.

Obviously it isn't achievable for everyone, but I think she has a point that people spaff away far more money than they realise.

Couple friends of ours managed to save £800 a month during lockdown when they stopped buying breakfast on the way to work, lunches at the canteen, gym membership, nights out, taxis, expensive phone contract ended and was swapped for sim only, new clothes, and all the other stuff that they were squandering it on.

Previously they were constantly complaining about the cost of living and that they'd never save a deposit. I think it shocked them to be honest. And they still didn't give up Netflix or takeaways 😂

@notacooldad

Ah Chorley, that well known business capital full of well paid job opportunities Easy to mock! It's on the commuter line to Manchester. It's right next to Preston. I'm sure the people of Chorley are going to love your put down comments while you try to mock me.. Chorley is right next to Buckshaw. People there seem to be having great job opportunities. So maybe a starter home a mile or so away isnt so bad.

Apologies I was not trying to mock you. But Chorley isn’t a city, isn’t the same as moving “up north” to Manchester or Leeds or Newcastle for a better quality of life and good job to MOST young adults however nice it may be.

@ToykotoLosAngeles my service charge includes window cleaning and a contribution to the sink fund (so I don't pay for roof repairs). Garden upkeep (we have a large communal garden). I mean, you could never repair your house; my MIL has a guttering problem she can't afford to repair cos it would cost in excess of 10k but that would affect your property value too!

my flat is EPC D as it was built in the 1930s. It is warm only because heat rises and I am on the top floor!