To think you shouldn't expect to buy a home on a single salary?

[Fivebedexecutivehome]

Genuinely interested in people's thoughts.

There's no doubt there's a shortage of appropriate housing in the UK, and that prices make home ownership for many people on average salaries.

But I find a lot of reporting about the topic weird- lots of interviews with people who seem to want to buy a property by themselves.

most recent one on BBC but not unique:
https://www.bbc.co.uk/news/articles/c7209lk8x2wo

My husband and I managed to get on the housing ladder a few years ago, early/mid thirties, both full time with a combined income of about 75k at the time, had been saving for about a decade towards deposit, plus a couple of grand from each of our parents to get it over the line. Got in towards the bottom end of the market of the (south eastern) town we live in.

I recognise both of us are quite privileged in lots of ways - having a bit of family support and salaries in the 30ks and 40ks. But there's no way either of us would have been able to ever buy a property by ourselves. But there's 68 million people in this country, surely the expectation can't be that everyone wants to buy a property themselves? And surely that's never been the expectation previously?

https://news.sky.com/story/buying-a-flat-ruined-my-life-leaseholders-plead-for-tougher-legislation-against-home-ownership-scam-13060858

Maybe if the flats in this country wernt utter shitholes more people would want to live in them.

They aren't all 'utter shit-holes'. I have recently downsized to a flat and it is t isreally nice. I looked at plenty of good ones on Rightmove before deciding on this.

I know a couple in their thirties with a five year old who have bought a one bedroomed ex-council flat. It was sturdy. They've done it up beautifully, cordoned off a corner of the sitting room as a bedroom for their little one, had a new kitchen installed.

It was the right price, all they could afford, and they are as pleased as punch with it because it is theirs! It's not forever, they will move to a house eventually.

I don't know why you think flats in this country are shit-holes, presumably if you come across one that is, it's condition is reflected in the price. Some people don't mind a doer upper.

Early 80s it would take 3x an average yearly salary for 1 person to buy an average house.
Now it's almost 9 times the average salary.
Peoples expectations aren't too high ...house prices are.

Exactly my first thoughts.

Dont be stupid.

I bought my house when heavily pregnant and single - my mortgage is much lower than rent I would be paying

I bought my own home in London in my 30s. I guess it depends on your salary.

Exactly right. I couldn’t afford to rent my home now. I feel very sorry for people renting and trying to get on the property ladder.

YABU
What are newly divorced people supposed to do? Move back in with their parents?
Many people are single through no fault of their own.

Just wondering where I'm meant to live 🤷‍♀️

I'm a single parent housing three teens/young adults. Mine is the only salary that counts. Am I supposed to live in a cardboard box?

Of course single people should be able.to buy their own home. I'm a single parent early 50s and stuck in rented as I can't save for a deposit while renting and bringing up a child etc :(
House prices where I am are quite high so even on a decent salary it's v difficult go buy as a single person.. and it shouldn't be.
There are lots of new builds near me and would love.to be able to buy but have no deposit. And see lots of young couples buying. It's hard.

However single men were discriminated against by mortgage companies: DH couldn't get a mortgage despite being a good earner until the early 80s as he wasn't married.

Me too!! It’s really not fair

I’m buying a house on my own, I don’t have a partner so what am I meant to do, stay renting? Just because you were lucky enough to find a husband and buy a house doesn’t mean everyone is.

But you used to be able to easily. Yes obviously prices have gone up drastically but that doesn’t mean it’s right.

my first office junior job paid 10k and I bought a house for 32k. Decades ago. Feel sorry for younger people.

This is a horribly couple-centric view point. Single people aren’t second class citizens who don’t deserve their own homes. Stop being smug.

It’s this kind of attitude that sees people shack up in toxic relationships for the wrong reasons.

This guy is probably also paying child support out of his wage.

I do need a room for a home office, it's not very professional having meetings with the CEO, CMO etc sat on the sofa, I also work from home 90% of the time so have to have it set up properly, I can't sit at the kitchen table 4/5 days a week 48 weeks a year. I also need a garden for the cats to go out in, they're not house cats.

So don't tell me what I need and don't need. You don't know my life.

Thankfully, I was able to buy somewhere with a spare room and garden but I will move to that big house in the country and live in it on my own just to piss people who think I shouldn't right off!

As for where they're being built, if Labour has their way on the bloody greenbelt! My town has had 5 new estates in the past 12 years.

those statistics are far from definitive, and, tbh, don't make much sense. They are based on the premise that:
"Millions of Britons are living in areas where they are unable to either buy or rent a mid-priced property."
key there is MID PRICED
in order to have a mid price there must be approximately 50% of properties below that price
Which presumably those people can afford.
Otherwise if all housing was out of budget for millions of people then we would have millions of homeless people. Which we don't. Overcrowded in some areas, yes. But also underoccupied in many others.

Many single people will be those living in places below the average price - because by the very nature of living alone you don't need as much space, and smaller homes are generally cheaper (comparing like for like, not a 3 bed detached in Hull to a 2 bed flat in Knightsbridge).

That chart works out affordability by cost of housing x income and says you can only afford to buy if 90% of your house = between 2.5 and 4.5 of your income.

Well, I couldn't have afforded my house on my income by that criteria - but I did manage to, by saving up for more than a 10% deposit.

It also says that if the cost of your house is more than 4.5x your salary you can't afford to buy but can afford to rent. However the house next door to me (identical to mine) just got rented out to a new occupier for more than 3 times my mortgage. So even with just a 10% deposit buying would be much more affordable.

OMG wouldn't my life be easier if I had a DP, but I'm too picky and quite frankly at nearly 62, I'm hardly a great catch myself; just as well.

I'd say that generally you're right OP, for the majority of people who can even consider buying, that hill becomes much steeper if there's only one of you.

I only got up the hill due to an inheritance in my 50s, 1/3rd of a house in the SE. I live in the SW so ended up with enough to have a meaty deposit that overlooked my low earnings (additional responsibilities for a disabled ds and an SP).

It's still a bit tough, scraping by to make the mortgage payments, repairs etc but it's way, way better than being beholden to a LL so I consider myself lucky.

My daughter is 20 she’s in the process of buying a little terraced house by herself.

Also what are you on about?

I bought my first tiny home on my salary. Not everyone can afford a‘five bed executive home’,