So I don’t think this is going to be a popular post. I’m 12 weeks pregnant with first baby and last night husband and I were talking budgets as we are trying to buy our first home out of London, currently renting in London.
I would just like to say we are working in industries that don’t exist or are far lower paid outside London and when I say that I mean we also don’t want to go and live somewhere miles and miles from family and friends where opportunities for career growth are limited. We want some form of quality of life.
We have both worked extremely hard for years and built good careers and salaries, and are buying without any parental help or inheritance and have managed to save while renting for years which of course is a feat in itself.
Even with this in mind, we are finding the house prices anywhere within commuting distance of London, safe and reasonably desirable to bring up a family, absolutely prohibitive when I’m about to go onto SMP. I am talking mortgage repayments of £3k a month. It’s really crushing to have worked and saved so hard and to realise that we are going to have to buy a place that isn’t suitable or what we wanted.
in addition, I wanted to highlight that in this current crisis, people like us who have higher salaries, get absolutely nothing from the government: no child benefit, no funded hours, nothing. Based on the budget calcations we did yesterday we would be living hand to mouth each month saving nothing while I’m off and hardly any better off when I go back to work with these crippling mortgage payments.
I don’t know what age gap people are putting in between kids when they have no help from government as we simply couldn’t ever afford for me to be off work or for a house to live in while paying £40k a year in childcare for 2. This is based on my husband being on over £100k a year. It is WILD.
i honestly don’t know how the system is so broken!! it’s depressing being pregnant for the first time in this world having tried everything to make a successful life for our kids and still being in this position. I just cannot understand at all how people are coping. I wish I could leave the UK but family are here.
that’s all I wanted to say, any thoughts welcome.
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How can it be THIS difficult to live in the south?!
CharlotteB94 · 19/03/2024 14:59
Chypre · 19/03/2024 15:26
"South" is not just "Kent". There is also Devon and Dorset, all far better priced. If you are yet to climb the ladder - your first home does not necessarily mean the forever (or perfect) home, it is called "the ladder" for a reason. Our route was from flat to semi in London to a detached in Dorset over the course of 10 years. Yes, rates were different back then, but still even with this year's rates for remortgaging, our payment for a detached house is 2100 - which is cheaper than renting a flat in London. DH does 2hr (each way) commute to London three times a week, I am working from home. I think it is well worth it.
mitogoshi · 19/03/2024 15:28
Whilst yes London is expensive, there are cheaper parts, we can't all afford the fashionable parts. Alternatively you need accept renting or a smaller place, where we are young people need to either rent in the city or move out to the surrounding towns to buy, it's no different.
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