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Priced_Out_GenXer

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Everything posted by Priced_Out_GenXer

  1. The grid road system certainly makes travel by car easier. But equally MK has probably the best cycle network of any town in the UK. The public transport is woeful. My house is 3.5 miles from the station and I cycle. It takes me 15 minutes on my bike. Season ticket cost is around £400 a month. I’m lucky as I have a job that allows me to travel off peak and I work from home one day a week so for me it works out at £13 a day (with network railcard discount) or approx £200 per month, which is about the same as a TFL all zones travel card. If you did consider MK the nice estates wit
  2. I’ve been commuting from MK for the past ten years and I find the trains to be fairly reliable. It’s unusual for my outbound journey to be delayed. The journey home can be a pain sometimes. But when it happens it’s more often than not some poor soul who’s committed hari-kari. Inevitably it’ll always be on a Friday evening! I’d highly recommend MK as a commuter town. Trains are fast and direct, 30 mins to Euston. House prices are much more affordable than London although obviously still over priced, but that’s going to be the case anywhere in the south east. The town itself gets a bad rap
  3. This is the dilemma I am facing. Should I continue to live cheap and invest my savings in the hope that at some point over the next few years prices come down significantly and I can buy outright or have a very small mortgage. Or should I buy now and mitigate the risk of interest rate rises as best I can by getting a ten year fixed rate mortgage? It's a tough call. I really want to put down some roots and have place that I can call my own but the fundamentals haven't changed and by every measure you care to look at the UK housing market looks like a huge bubble just waiting to burst.I have a l
  4. The price rises in Milton Keynes have been bonkers for the past several years. I was looking at 2 bed semis 3 or 4 years ago. Back then asking prices were between 140k and 170k - and I think selling prices were somewhat less. Now you're looking at 240k to 300k. It's madness. I've been waiting more than 10 years to see prices fall but if prices don't start falling by this time next year I may have little option but to join the madness as I turned 40 last year and I'm not getting any younger.
  5. No I would certainly not consider buying now. I have waited the best part of 10 years for prices to come down to sensible levels and I'm not about to give up at what seems to be the very peak of the bubble. I am more determined not to give in now than at any time in the past despite the constant nagging of friends and relatives who say that I'm mad and that I should be 'getting on the housing ladder while I still can'. Now would be an utterly stupid time buy not only because we're so far into bubble territory but also because the global economy looks to be on very shaky ground. I plan to hold
  6. My experience is quite the opposite. The people I know who've had a stress related illness through work have all been perfectly sane. It's fair to say that some people are much more adaptable and resilient than others but that doesn't mean that those who find it difficult to cope are nutcases. I think the demands of even the most mundane lower middle management jobs are much greater now than they were say fifteen or twenty years ago. Things move at such a fast pace these days, new technology, endless restructuring and reorganisation, endless strategic reviews, endless penny pinching efficiency
  7. I can’t see generation Y disowning the internet and other mod cons, I think it’s far more likely we’ll simply see ever increasing numbers of young people living with their parents well into their 30’s. “The recent slowdown is really an interaction of demographics” this hits the nail on the head. Whether it’s the bank of mum and dad helping out with the mortgage deposit or young people living at home well into their 30’s and beyond, it all amounts to the same thing i.e. boomers being forced to subsidise the younger generation. Until wages increase and/or housing costs are reduced the situation
  8. I worked at McDs part-time when I was studying for my GCSEs and A levels. It was bloody hard work and I witnessed some truly dreadful employment practices including the lack of breaks as mentioned in the article. I was too young to know any better. It wasn't all bad though. It was a good laugh sometimes, especially the late shift and it was good to be working amongst people my own age. I made some good friends and it taught me some good life skills. Obviously it's a completely different scenario if you're not a youngster and it's your primary source of income. That would be a nightmare. Which
  9. If you buy the phone on a contract then yes it's obviously more expensive. I always buy the phone outright sim free, keep for two or three years, sell it on ebay, then buy a new model. It works out much cheaper than £30 p/m.
  10. Indeed, although they hold their value quite well (for a phone) so I'll get around £200 for my old one on ebay. Over three years it works out to about £10/month which I think is bloody good value given how much I use it.
  11. I hope that was a joke. I make some pretty big sacrifices to keep saving and increase my deposit fund. I hardly think buying an iPhone once every three years is going to make any difference in the grand scheme of things.
  12. I rented a studio flat in East Dulwich in 2007 for £650 p/m. I was astonished when I looked on rightmove the other day and saw the very same studio flats are now going for £950 to £975 p/m! It just goes to show that there are local variations even within London. In general, however, I think London rents have gone through the roof in recent years.
  13. This is true. It's incredibly difficult if you're single. Although I'm not sure why this is the case given the cost of childcare and the increasing number of people who are living alone - increased divorce rate etc.
  14. Funnily enough I've just bought myself a bike and the first thing I did was see how long it took to get to the station. 25mins which isn't too bad, but there is a mahoosive hill in the middle and I'm not sure I'd fancy cycling in winter. I've been looking into electrically assisted bikes though, which might be an option, or at least an option which I would consider on a cold wet February morning :-)
  15. No problem, I appreciate the advice. Your estimate of 2k net earnings and an average of £500 p/m savings is pretty much spot on. You're right, I should perhaps be saving more, but I'm certainly not a big spender. I try to strike a balance between being prudent and living a comfortable enjoyable life. I pay my parents £200 rent and I buy all my own food (approx £300 inc lunch at work). I don't spend much on clothes or alcohol but I will occasionally treat myself to a new gadget. This month, for instance, I haven't saved anything because I had to pay my car insurance, aa membership, and mot, and
  16. All valid points and ones that I have carefully considered. The commute is a drudge but it's made easier by off peak travel which is much cheaper and quicker (35 mins MK > Euston on Virgin Pendalino), and quieter (I nearly always get a double seat to myself). Also, if I had my own place I'd live closer to the station and could cycle instead of driving which would save me £100+ p/m in petrol and parking. Also I work from home one day a week but if I had my own place I could possibly increase that to two days. It then starts to look like a viable long term option. The other option would be
  17. It's a little bit more complicated than that but your point about my income and the risk of interest rate rises is valid and it's the primary reason why I'm reluctant to consider buying. Salary is £36k with guaranteed rise to 40k over the next three years but I agree it would be tight and could get nasty if interest rates were to rise and I wasn't on a fixed rate mortgage. There again I'd be paying more to rent than I would to buy so it's hobson's choice in terms of disposable income and quality of life.
  18. I think were both getting to the point were we'd like our own space but yes that is an option and I suspect I may well end up staying here longer than planned. In the end though I'll be forced to move on because my parents are probably going to move down to Bournemouth in the next couple of years.
  19. My job is in central London, I commute from MK. I'm very settled and happy in my job and it's unlikely I could easily find another job in my specialism elsewhere, certainly not one with equal (or equivalent) pay and benefits. In any case - and no offence meant to anyone who lives in Derby or Nottingham - but I would not choose to live there.
  20. Without help to buy, depends on price of property and LTV bank are willing to offer, but probably yes. With help to buy, defnately. Took three years to save.
  21. I sympathise with the OP as I am in much the same position myself. I'm 38 and currently living with parents in order to save a deposit. We have agreed that I will move out this time next year by which time I should have around 18k in savings. I then have an almighty decision to make. To rent or to buy? I have been an HPC'er since 2006 and I remain convinced that property where I live (Milton Keynes) is ludicrously overpriced. Even in moments of weakness when I have considered buying every fibre of my being screams "DON'T DO THIS YOU WILL REGRET IT!". Pressure from family and friends, howeve
  22. I would like to invest in some bitcoin but I've looked into it several times and it seems nigh on impossible to purchase bitcoin in the UK unless you're prepared to pay a hefty premium buying via a site such as localbitcoins. Could someone explain how I can tranfer money in my UK bank account to an exchange such as mtgox? Or are there other ways to purchase in the UK that are worth considering?
  23. Correct, it was a weekday lunchtime, although I suspect it would be much the same at the weekend. To be fair Bletchley and the other old towns on the outskirts of Milton Keynes we're always going to struggle after MK shopping mall was built in the early 80s but the decline has really gathered pace in recent years. Sony Stratford and to a lesser extent Newport Pagnell have managed to survive but the demographic is very different in those towns, way more affluent and lots of specialist art/crafts and antique shops, upmarket pubs and restaurants etc.
  24. This. I live in Milton Keynes and despite having one of the biggest and most modern shopping centres in Europe on my doorstep I very rarely use it. Instead I buy almost everything online except for groceries which I get at a big supermarket chain and shoes / clothes but even these I am starting to buy online if I can be confident of the size/fit. There is much better value and convenience to be had online. It's interesting that I saw just the other day - for the first time in thirty years - empty retail space in MK shopping centre. I've also noticed that MK shopping centre now consists mostly
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