1st time buyers budget these days
Icantfindausername · 08/10/2020 16:34
When we bought 20 years ago it was like 80k max haha.
What is approx budget of a first time buyer these days?
IllustriousToad · 08/10/2020 16:49
I'm in the south east and (hoping to) buy on my own. I'm realistically looking at about 220-250k, which is at most a 2 bed flat...
LooseMooseHoose · 08/10/2020 17:09
Well the average price of a house in the UK is just under £250k, so under that! There will be massive regional variations though, obviously
Gottobefree · 08/10/2020 17:14
I live in south west of London (born & raised). Saving for a deposit and nearly at £30k ... a one bed flat in my area is about £300k, two bed about £330-350k.
Makes me feel so hopeless and depressed sometimes. The fact that I work full time in London in a career path I love and don't even earn enough to get a mortgage in my area is ridiculous.
Wherehavetheteletubbiesgone · 08/10/2020 17:31
I have a two bed house brought last year in Suffolk for less than 150k. Only 30 mins commute into work (when i am in the office). It is very region specific as 20 mins closer towards cambridge you would be looking nearly 300k
GrumpyHoonMain · 08/10/2020 17:44
It could be well over 300k in a decent area
Alexalee · 08/10/2020 18:14
I dont think you will find many 1 bed flats under 200k inside the m25
But a lot of first time buyers are buying with partners and trying to jump straight up the ladder into a small terrace which seem to start at a 300k+ if my dcs friends are anything to go by
DespairingHomeowner · 08/10/2020 18:35
FTB flats at 3-400, small terraced houses at 500 plus in NW London... it means that FTBs nowadays are more likely to be couples vs singles now
JoJoSM2 · 08/10/2020 19:28
Amongst my friends, mostly 200-600k in recent years (in London). Mostly 150-300k for the ones that got onto the ladder in mid 20’s (I’m 39 now).
isseywith4vampirecats · 08/10/2020 19:33
friend of mines grand daughter and her partner in Halifax looking at £150k houses has a 15k deposit before lockdown this was enough now mortgage company has told them they need another 6k to get the same mortgage feel sorry for any FTBs at the moment its hard enough to get on the ladder
FizzyPink · 08/10/2020 19:38
DP and I are both late 20s currently saving and close to buying. Our budget is £400k with a 10% deposit. We’re SE London but will be moving closer to Kent
CoronaIsWatching · 08/10/2020 19:39
My budget is £175k-£180k, but with a healthy deposit. Buying on my own. So looking at the cheapest of the cheap 2 bed terraces in York
CoronaIsWatching · 08/10/2020 19:42
I do feel sorry for people born and raised in London and unable to buy anywhere near their family. I wish there was some sort of scheme offering a discount to people born and raised in an area with family etc close by.
mizu · 08/10/2020 19:48
We bought 2 years ago. Flat in a very sought after area. 5% deposit of £10,000 saved over 7 years. Feels good to finally own a place.
Oh and we are in our mid 40s with teenagers. Was impossible to buy before.
If we had left it later, there would be no way we could buy. How do people have a chance of owning now if they don't have family support?
Joeytribbianiz · 08/10/2020 20:18
£450,000 for a 2 bed garden flat in zone 3 London. Just had the offer accepted. It's a silly amount of money and I worry about the debt every day, but that's what things cost here. Deposit of £75,000, mix of our own savings and parental help. We're late twenties.
RevolutionRadio · 08/10/2020 20:25
My first house was 50k in 2012. 3 bed terrace in the North East, the same elsewhere would be a lot more. I'm always surprised at terraced houses in London costing £1 million.
notheragain4 · 08/10/2020 20:34
We paid £170,000 for our house a few years ago. We've just bought our "forever home" which is twice the size and it cost £365,000, I was so scared to make the leap but reminding myself first time buyers pay that in some parts of the country helped me realise it wasn't as big in my head as I was making it out to be.
Mistymonday · 08/10/2020 20:35
optimisticpessimist01 · 08/10/2020 20:41
We're looking in Yorkshire at 3 bed semi's minimum. Budget is around 200-250k. Could easily go below that but we want a house for the long term to start a family in
Fudgefeet · 08/10/2020 20:53
About £450,000-£500,000 around here. We have been saving for 15 years and are slowly getting there but house prices keep being pushed up plus a couple of redundancy’s over the years means we’ve had to start over a couple of times. It’s mostly Londoners moving down and buying here now. I just want to live near my mum and stay in my home town as I love it here which is why I haven’t moved away but it feels like such a far reach.
Poetf · 08/10/2020 20:55
Three bed semis in non-shit areas of the NW are 240+. And yes given that FTBs tend to have children these days then 3 bed is what they need to get.
Giganticshark · 09/10/2020 04:52
Well 20 years ago houses were much cheaper.
Around 100-200 in my area for a house.
SushiGo · 09/10/2020 07:17
Apparently in our area about £220-250. They want houses not flats for that though. (Which is fair enough frankly)
AmandaHugenkiss · 09/10/2020 07:22
Bought 4 years ago in South East on my own, one bed terrace with garden for 200k. Took me until late 30s to get there. In my area it’s now about 220 minimum for a one bed flat. It’s really hard for FTB, especially if you aren’t in a couple.
Amijustagrump · 09/10/2020 07:30
2 years ago in North Essex we spent 240k on a 3 bed end of terrace, we were 21 and 24 at the time
OnlyFoolsnMothers · 09/10/2020 07:32
Friend just got a 1 bed flat with section of a garden zone 3 London for £237k- it’s considered she gotta a steal
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