I'm afraid the crisps did go in the bin, just two opened packets. The unopened ones were donated to someone who would eat those flavours.
Many people are up in arms because Kirsty Allsopp has suggested people could get on the housing ladder earlier if they made different choices.
All four of my children bought their own home when they were in their early 20's. I realise not everyone can achieve this but it is manageable.
No my children didn't have financial help.
No they didn't live at home.
No they didn't have fantastically well paid jobs.
One of them bought a house that had a closure order on it.
One started off with part buy, part rent.
10 comments:
They did well to get an early start. Same here with my kids, started small and gradually moved up the ladder.
Both my kids got in at the right time and are homeowners. We are about to help out my husbands son and wife by letting them live with us until they can buy, they have the down payment saved but it is a super hot market and the lease on their apartment is about to expire.
I think it's harder now then when we bought in the 1990s. And some people are going to have bad luck or circumstances no matter what. On the other hand, a few years before we bought we knew a couple who had a mortgage and the interest rate was 17%! Their budget was ridiculously tight. At least we're not facing that now.
Yes, it is manageable for some, but not for all. When we first married in 1979, the building societies would give a mortgage based on "half the husband's salary plus the wife's" and even though I was a teacher and he was an engineer, the amount we qualified for would not cover a property near our work, so we had to rent. A change of career meant that for 40 years we lived in the house that went with the job. We did manage to get our own place in the end, ready for retirement. In Norfolk, where prices were lower. But only having 11years to pay it off meant interest was high and it was very hard at times. Right now I know hardworking couples with young families who genuinely cannot get onto the property ladder. In the last few years it has got much much harder. I'm truly glad for families who do manage it - but sad for those who are really struggling right now, when circumstances are conspiring against them
I used to work in a building society and their policy was the husband's wage/salary, but not to include any overtime they worked plus half the wife's pay as she is liable to get pregnant.
Some of the rents are the same as a monthly mortgage, it's just the hefty deposit that is the stumbling block.
Your children are fortunate in that they saw what is possible. My heart breaks for the children who are born to parents who struggle and never seem to work their way out of it. What example do their kids have, really? If a child doesn't see what is possible, they learn to believe that everything IS impossible.
My daughter and her partner rent and are trying to save enough to buy a house. They are hardworking and haven't had a holiday in the 14years they have been together and don't eat out or get takeaways but live in the Highlands and house prices are ridiculous. People are buying up houses to use as holiday homes and last week she was telling me about a woman who bought two houses near her one for a holiday home and one to rent out. In my opinion this housing crisis will not be solved until second homes are banned and local young people have a chance to catch up with what is now a house price escalater.
Both my sons and then girlfriends had to rent for a few years before they bought their homes. My daughter and ex husband sold their home last year and she was lucky to just afford a mortgage of a small 2 bedroom house which needs some tlc. Eldest granddaughter works in the travel industry, spending lots of her time and wages travelling but since the start of Covid has been saving hard for a place of her own. I can't see if happening any time soon as house prices have gone crazy and there are not many part buy, part rent properties locally. Even renting costs as much as a mortgage.
Here it is cheaper to make a house payment than to pay rent. The problem is that not everyone can get a loan.
Is everything OK? I keep watching for a new post and am worried about you all on the boat. Please just jot a quick update on your blog. My prayers and thoughts are with you.
Patsy
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