Find it depressing to stay in the same rental?

[smellies]

So DP and I are young(ish) mid-late 20s. We moved to London 4 years ago for grad school. We have finished that and now work in professional careers.

We moved into the nicest flat we could afford thinking we’d stay there two years until we start work and upgrade. But rents have gone up and up so it becomes harder to justify moving. This flat is now a lot cheaper than nearby properties (£300 a month less!)

We’re now at a point where we earn way more than we used to but feel slightly depressed that we haven’t “progressed” if you get me? The flat is small, even for zone 1 standards (45 sqm) and the carpets were last replaced around 2005. But it’s reasonable.

DP wants to renew for another 12 months. But even though it makes sense financially, I just feel like I’m still stuck in the time we first moved to London. You sorta feel that once you start earning 200k+ as a couple, that you’d live somewhere nicer than when you were a student?

I don’t quite understand as you must have a lot more disposable income on 200k+ than you did as a student, much more proportionally than rents have gone up?

either way, sounds like it could be a time to evaluate if Zone 1 is the right place to be. You could get much more for your money by moving just a few tube stops out.

£200k and your renting a small flat? That'd get you a small mortgage on a 5 bed house where I live!

I'd move out of zone 1.

You and your DP earn over £11k a month after tax and you’re living in a tiny flat that you rent?

Why don’t you get a mortgage and buy a property? You’re paying someone else’ mortgage when you could be paying your own!

I don't understand.
My DP and I earn far less combined that 200k, and we are making renting in a very nice part of zone 2 work.
With saving a deposit to buy (much further out).

Surely you have a lot more options that many people trying to make it work it London.

As our income went up we kept our standard of living the same and saved every penny for a deposit. If you're on £200k between you, what do you have saved, or are you spenders?

200k and you can't afford to move? Sorry, there have been a lot of tone deaf posts on here but this one wins for me.

11k a month between you - you should have a mortgage.

If you intend to stay in London I would be buying there.

If you don't intend to stay I would at least be renting a lovely property with 200k coming in!

Where is all your money going?

200k doesn't go as far as it used to in London, especially post tax. Long hours means that moving out of zone 1 isn't necessarily an option.