What can I realistically buy as a single person on an average salary?

[KookyNotOoky]

So, the UK's rental market circa 2022 finally defeated me, and it's time to think about buying.

I am in my early-mid 30s, earn in the upper £20s (more like lower £30s due to my freelance income) - also single and that's not going to change anytime soon. As a single person on this income what can I realistically expect to get?

I'm a remote worker so theoretically can move anywhere - I would prefer down south near-ish the sea, though this seems possibly unrealistic. I could move north I guess though then I'd be a very long way from my family/friends.

A flat might seem an obvious choice, though the one thing I want is a dog, and it's selfish too keep a dog in a flat imho, so would need a small garden.

If it helps, I have a fairly large deposit (£25k), however all the guides I'm reading say this doesn't actually matter that much as lenders are far more focused on your income.

Hastings, St Leonards, Ramsgate, Folkstone and maybe Leigh on Sea.

You should be able to get a flat there.

Try to get a garden flat with a share of freehold to have a bit more control, rather than just leasehold.

Maybe get somewhere that needs a bit of work.

Some people are suggesting places in the North, Wales and so on but I am not sure if it is a good idea to cut yourself off from friends and family.

Also you have a remote role at the moment but what would happen if you needed to job hunt again? factor that into your move because it is not a good idea to move somewhere where job opportunities are scarce.

Hybrid working is probably more common than fully remote so you would be better off somewhere that still gives you commuting opportunities.

This is in Paignton Devon if you want to live near the sea.

Where are your family links and friends op. Then we can be more specific

I’d be amazed if that went for anywhere near £100k

How near to the sea would you want, how rural would you go? How south is southish?

Adult DS is on similar salary, bigger deposit we hope, & is scheming how to buy. He needs to live in the Cambridge halo so prices are challenging.

Where are your family/friends so what radius would you consider?

Look at Newark or nearby villages in Lincolnshire. Train to London from Newark is about 75mins. Trains to the Lincolnshire coast. Lovely, historical town but cheap housing due to poor schools but you won't care about that.

Rightmove tells me there are 85 properties in Newark (didn't search surrounding villages) with the ceiling price set at £185k.
I didn't look at them all but plenty of 3-bed terraces, 2 bed semis, spotted a detached 2-bed bungalow.

Where are you now op? Where are your friends and family?

I’d resist moving to a completely
new area you have no links to unless you are taking a job. Unless you are brilliant at getting stuck into a new community and will
volunteer at brownies/village committee and join sporting teams and go to the local pub it will be hard to make new friends etc.

How depressing....

I'm not sure what you mean by this? There are some nice looking homes on that list.

Whatever you do OP, don't do shared ownership. I'm single and chose to compromise on the property and buy something outright rather than doing shared ownership. These new shared ownership properties are often a nightmare with poor quality buildings and fittings. There's a whole estate of them in our village and there are people stuck in very poor standard homes because they're just not sellable.

I'd also avoid moving anywhere too rural and that's too long a journey for anyone you want to keep in touch with to visit for a weekend.

Otherwise it's great paying a mortgage rather than rent. I'm also long term single and glad I took the leap to get on the property ladder. I was on a similar income to you when I bought (and that's allowing for inflation) and it's been fine. I now earn less than I did but no trouble affording the mortgage payments.

Also you have a remote role at the moment but what would happen if you needed to job hunt again? factor that into your move because it is not a good idea to move somewhere where job opportunities are scarce.

Hybrid working is probably more common than fully remote so you would be better off somewhere that still gives you commuting opportunities.

I agree with this. Wherever you choose, I'd advise being near enough to a decent size city that you could get a hybrid job there in future. Hybrid working seems to be what's on offer for most office based roles these days, and being too remote will limit your opportunities.

It doesn't have to be London - just somewhere with a reasonable job market.

Lowestoft has the sea and is within budget, this place looks good

www.rightmove.co.uk/properties/125518658#/?channel=RES_BUY

I bought a £137k house with 7k deposit 3 years ago.

Expensive student area of an East Midlands city.

You can afford about £150k. For that you can and should get a ‘doer upper’ 2 bed house in a run down area a couple of miles from the beach, near an up and coming seaside town in the south. Or possibly a less run down ground floor flat with its own garden.

You can have a garden and a dog! And your dog can have regular beach which he will love.

Go to rightmove and run searches for properties within 5 miles of places like Dover, Hythe, Portsmouth, Felixstowe etc Maybe also consider Scotland/Wales if you can handle the anti-English racism, v cheap housing up there.

www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E521&minBedrooms=1&maxPrice=150000&minPrice=120000&radius=5.0&propertyTypes=&mustHave=garden&dontShow=&furnishTypes=&keywords=

www.rightmove.co.uk/properties/127601480#/?channel=RES_BUY

www.rightmove.co.uk/properties/127546073#/?channel=RES_BUY

You can buy a 2-bed terrace in central Lincoln for £150,000. Nice town centre with lots of amenities.

£130 to £150k will buy a one bed flat in littlehamton. Close to the sea but no garden. Anything cheaper on rightmove is a retirement flat. I live not far from littlehampton and it is a bit run down but still has some charm left.

Yes, when I posted about Littlehampton I thought the OP's budget was closer to £170k. I do like Littlehampton though!

The Tyneside coast has some cheap houses, OP. I grew up in South Shields and it has amazing beaches.

I’ve lived in flats for the last 4 years and I haven’t had any of the issues you’ve faced. It really depends on the block, the freeholder/management company, the other residents etc. my current flat is in a conversion of 8 flats with a huge communal garden that no one else uses so I have it to myself. Any maintenance in communal areas is dealt with promptly and my neighbours are really nice and quiet. I’ve got a dog (sometimes 2, I share one with my mum). They’re both small breeds that don’t need much exercise and they’re absolutely fine. They don’t even like the garden, they refuse to poop in it and will only toilet on walks! They get 2-3 walks a day but I WFH so they’re not left alone apart from if I pop out to something that isn’t dog friendly, then they happily snooze for 3-4 hours. The biggest thing to consider with a dog is your job and lifestyle - if I had to be out of the house 5 days a week for work I wouldn’t get one. The flat is not the issue, obviously you wouldn’t get a husky or a Labrador in a flat but a chihuahua, cavalier, some of the small terriers, rescue greyhound etc - perfect apartment dogs as they’re small and need less exercise, greyhounds just want to snooze most of the day! I wouldn’t totally write off a flat.

Ive fallen in love with one of them and want to buy it but stopped fantasising and got on with real life today!!