Did you put all your savings towards your house deposit?

[Pepsicolacubes]

I'm a first time buyer. Over the last few years, I have saved £10,000 and I was also gifted £40,000 by a family member last year. I have already spent 6k on a car (old one had various problems).

I earn a relatively good wage for the area, but as I'm buying alone, lenders will only borrow up to 100k, maybe 110k at a push. I have seen a few properties that I love which are at the top end of my budget, but I would have nothing left in savings once I'd put it towards the deposit and paid for conveyancing costs, broker fees, which makes me feel really nervous.

I'd worry in case an unexpected bill popped up such as car repairs etc and I had no money to fall back on. I don't have a partner who can share half the costs. I was hoping I'd be left with at least 10k (6 months salary) but I think this is highly unlikely. There are other houses in the area which are cheaper but they require a lot of work. I know how lucky I am to be able to even buy in the first place, but it scares me spending so much money and not having anything left for emergencies.

I'd appreciate hearing from other people who were/are in the same boat, what you did and how it worked out.

Thank you!

Do you have access to credit? Will your income be likely to increase in the next few years? Can you save a few hundred a month for emergencies?
If yes to all of those, I'd go for it.
Online everyone always says leave yourselves £5-10k but not all of us can do that. We will be throwing everything at the deposit and fees (plus moving costs) and don't expect to have anything left. But we won't be saving for a deposit any more so we will be able to build up an emergency fund afterwards. No existing debts, so can always use credit cards for actual emergencies and we don't play on buying a fixer-upper.

My son is buying he’s putting down 100k deposit
but he will still have around 15k left
he’s got no debts and he has all of his furniture atm in his rented 2 bed flat

the sellers are leaving a built in bed alarm & cctv

his partnered parents are paying for the conveyancing. & moving costs
I’m paying for blinds and shutters and white goods so fridge freezer washer/ dryer and dishwasher
so he will still have around 15k left