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CrashBy40%

Ftb Living At Home

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Hi Guys

This is my first post here so go easy on me.... :P , i was wondering if anyone here was in my situation.

At present im 31 years old and living with my mother in a pretty nice 3 bedroom house council property which was taken over by a housing association about 5 years back. For a few years now ive wanted my independance but i do want to buy instead of rent. Im on a pretty good wage at 28k a year and saving approx £300 per month with 12k paying out next april from investments. I pay £360 a month rent plus council tax/electric and a few other bills, i guess im worried a bit about what will happen when i do go and how my mother will cope financially. Do you think its best i stay as i am till ive saved a good 20k sum and see what the markets like then?

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Hi Guys

This is my first post here so go easy on me.... :P , i was wondering if anyone here was in my situation.

At present im 31 years old and living with my mother in a pretty nice 3 bedroom house council property which was taken over by a housing association about 5 years back. For a few years now ive wanted my independance but i do want to buy instead of rent. Im on a pretty good wage at 28k a year and saving approx £300 per month with 12k paying out next april from investments. I pay £360 a month rent plus council tax/electric and a few other bills, i guess im worried a bit about what will happen when i do go and how my mother will cope financially. Do you think its best i stay as i am till ive saved a good 20k sum and see what the markets like then?

You The Chuzs brother? :lol::lol::lol::huh:

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Hi Guys

This is my first post here so go easy on me.... :P , i was wondering if anyone here was in my situation.

At present im 31 years old and living with my mother in a pretty nice 3 bedroom house council property which was taken over by a housing association about 5 years back. For a few years now ive wanted my independance but i do want to buy instead of rent. Im on a pretty good wage at 28k a year and saving approx £300 per month with 12k paying out next april from investments. I pay £360 a month rent plus council tax/electric and a few other bills, i guess im worried a bit about what will happen when i do go and how my mother will cope financially. Do you think its best i stay as i am till ive saved a good 20k sum and see what the markets like then?

Hi Crash, welcome to the site. I'm quite new too! £360pc to your mum - thats very generous! Good on you. You're saving a good amount and your mum is doing well out of it. Sounds like a favourable situation. Financially you are better off saving and saving until you need to move out. Because what you are saving each year is much larger than the amount of mortgage you'd be paying off each year (after interest). Eventually you may like to gain independance and move out. But you can always rent. If you and a mate rented together I don't think you'd need to pay much more than 360 each. I assume you don't live in London! So my advice is don't buy a house. Unless of course prices fall to the point where you are better off buying that renting. Probably 40% will do the trick - like your nickname suggests.

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chicks beware !!

Don't take the piss too much - I'm the same age and live with my parents as well for the moment.

It is something of an impediment when it comes to the opposite sex unfortunately :angry: , so I can't see the situation lasting, although keeping the rent in the family is a good way to boost my savings for now.

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Don't take the piss too much - I'm the same age and live with my parents as well for the moment.

It is something of an impediment when it comes to the opposite sex unfortunately :angry: , so I can't see the situation lasting, although keeping the rent in the family is a good way to boost my savings for now.

Just tell the ladies that you own the house - and your mother has come to stay for a few days!!!

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Hi Guys

This is my first post here so go easy on me.... :P , i was wondering if anyone here was in my situation.

At present im 31 years old and living with my mother in a pretty nice 3 bedroom house council property which was taken over by a housing association about 5 years back. For a few years now ive wanted my independance but i do want to buy instead of rent. Im on a pretty good wage at 28k a year and saving approx £300 per month with 12k paying out next april from investments. I pay £360 a month rent plus council tax/electric and a few other bills, i guess im worried a bit about what will happen when i do go and how my mother will cope financially. Do you think its best i stay as i am till ive saved a good 20k sum and see what the markets like then?

Dont worry your Mum will be just fine and dandy. Mr Fred will pop round later to make sure of that. :P:P:blink::huh:

Edited by shakerbaby

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Don't take the piss too much - I'm the same age and live with my parents as well for the moment.

It is something of an impediment when it comes to the opposite sex unfortunately :angry: , so I can't see the situation lasting, although keeping the rent in the family is a good way to boost my savings for now.

Yes i feel the same mate......doesent do the street cred a lot of good

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sorry, i couldnt resist it.

you have to ask. why do you want your own place.?

the answer - to make out with hot chicks. right ?

just rent a place not far from your mums. add some ambience with some laminate flooring. moby playing on the stereo. dolby NR selected. teas candles lit. use the rest of your 12k investment to buy a Y reg BMW 325 and head for the nightclub called La-Di-Dahs in accrington. hot chicks - easy.

then, when it comes to cleaning your harry hill nightclubbing shirts take they to your mums, while having a big sunday dinner - without having to wash up.

why not rent young dude ?

dont throw your hand.

you feel like your alone ?

no. no your not alone.

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No you are not alone, I am also still at home with parents, and i'm 33 !!

Luckily we all get on ok.

But also hate telling the ladies that i'm still at home, they look at me like i've just crawled out from under a stone, the ironic thing is that many of them also still live with parents, and have massive debts, so why look down on me ?

Just keep saving, my plan is to have a nice little house in a few years time, with a tiny mortgage.

That is when the good things in life will come, but with no debt, and having saved thousands in interest payments.

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No you are not alone, I am also still at home with parents, and i'm 33 !!

Luckily we all get on ok.

But also hate telling the ladies that i'm still at home, they look at me like i've just crawled out from under a stone, the ironic thing is that many of them also still live with parents, and have massive debts, so why look down on me ?

Just keep saving, my plan is to have a nice little house in a few years time, with a tiny mortgage.

That is when the good things in life will come, but with no debt, and having saved thousands in interest payments.

Hmmmm, does it occur to any of you that this social stigma attached to living with your parents or wider family is part of the reason there is such a huge bubble - stupid greedy witches who won't look at you because you are not living in that trendy loft appartment like in the advert? These are NOT the kind of grasping parasites you should be trying to impress!

I would love the chance to live with my Mum and Dad in their lovely big old house with plenty of spare rooms that don't get used - be close to my family, my new little nephew, my brother and his wife etc. But I can't because I have to follow work...3 years abroad until recently and still 300 miles away now (and 700 miles away from my girlfriend!). FFS don't knock the chance to be with your Mum or the people you (should) love, just because you think you have to impress some gold-digging witch with your own place!

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Hi Guys

This is my first post here so go easy on me.... :P , i was wondering if anyone here was in my situation.

At present im 31 years old and living with my mother in a pretty nice 3 bedroom house council property which was taken over by a housing association about 5 years back. For a few years now ive wanted my independance but i do want to buy instead of rent. Im on a pretty good wage at 28k a year and saving approx £300 per month with 12k paying out next april from investments. I pay £360 a month rent plus council tax/electric and a few other bills, i guess im worried a bit about what will happen when i do go and how my mother will cope financially. Do you think its best i stay as i am till ive saved a good 20k sum and see what the markets like then?

I too am living with parents - renting the front room and a bedroom off them. I have my own phone, bills, sky etc. Dont take the piss - especially R_F_D! it make economically sense at the moment.

The fact that you are only saving £300 from approx £1700 take home tells me you have a lot more debt that you are telling us? You also dont tell us whether you are involved with someone and purchasing the house on your own or with a partner? If it's on your own I'm afraid you really need to be saving more than £300 p.c.m. If you do have other debts that are charging monthly interest - stop saving that £300 and pay off all you debts. This will not only help when getting the mortgage, but when debt free you can save £600pcm.

If this is the case, stay at home - pay off ALL your debts whilst saving a deposit. This way you are also helping your mum out too. Depends on how much you want to move out. The prices are dropping so it would be silly to rush. I would set yourself a timetable of 2 years more with your mum and save more. By the time you come to buy if you saved hard enough you could get £10 to £14K plus your insurance payout. This would be a great deposit and the house price will come down too. The bigger the deposit you have the better LTV and the better then interest rate.

I personally have BASIC income of £1500 (I do get ovvies tho). And I have £221 for personal load (26 months left) and £181 for car (2 months left) approx £400 - Rent is 180pcm - Petrol £70pcm and leisure £45 then take away running costs - dinners etc in work. I then save £750 a month. If i get ovvies ALL that money goes to savings. Some months I have saved £2k but mostly its £1000>£1500. The reason why I can do is I have disciplined myself to do without (For the time being).

Good Luck in all you do.

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Hi Guys

This is my first post here so go easy on me.... :P , i was wondering if anyone here was in my situation.

At present im 31 years old and living with my mother in a pretty nice 3 bedroom house council property which was taken over by a housing association about 5 years back. For a few years now ive wanted my independance but i do want to buy instead of rent. Im on a pretty good wage at 28k a year and saving approx £300 per month with 12k paying out next april from investments. I pay £360 a month rent plus council tax/electric and a few other bills, i guess im worried a bit about what will happen when i do go and how my mother will cope financially. Do you think its best i stay as i am till ive saved a good 20k sum and see what the markets like then?

360 a mounth plus bills for just you seems extortionate, or is that shared between you and your mum? My rent is ALOT less, and i dont live at home.

Edited by moosetea

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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