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guitarman001

Staying At Home

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Had an interesting conversation at work today about the cost of getting a degree nowadays and then the cost of housing. One good point made was how (as pointed out here so very often) dual income has really messed things up and increased costs for all. After that I was listening to some folks similar age to me, some of whom rent and some of whom have 'bought'. As evident as it may be, and I know this post doesn't bring any new facts or numbers to the table.. but thank HEAVENS I still stay at home, that's all I can say. Listening to just how much these people fork out on council tax, electricity (one person was paying £85 a MONTH for electricity and £195 a month for council tax), the rent/mortgage and all other associated costs... these people all live with partners so the costs are shared, but even then they were saying how little money they keep by! When the time comes I will be absolutely mortified to see savings income dwindle, if any remain. This is a pretty simple post, nothing new... but I just HAD TO SAY IT! What a load of sunk costs, honestly. I bet if/when you lot decide to buy, you will be gutted to see all that money just... gone...!

Edited by guitarman001

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Had an interesting conversation at work today about the cost of getting a degree nowadays and then the cost of housing. One good point made was how (as pointed out here so very often) dual income has really messed things up and increased costs for all. After that I was listening to some folks similar age to me, some of whom rent and some of whom have 'bought'. As evident as it may be, and I know this post doesn't bring any new facts or numbers to the table.. but thank HEAVENS I still stay at home, that's all I can say. Listening to just how much these people fork out on council tax, electricity (one person was paying £85 a MONTH for electricity and £195 a month for council tax), the rent/mortgage and all other associated costs... these people all live with partners so the costs are shared, but even then they were saying how little money they keep by! When the time comes I will be absolutely mortified to see savings income dwindle, if any remain. This is a pretty simple post, nothing new... but I just HAD TO SAY IT! What a load of sunk costs, honestly.

Yes it is not just the buying or renting cost's the bills just keep on coming.

Untill a few years back I had a very good job surrounded by people who had the same , we had good holidays , new cars and as one person pointed out one night no one who works here ever worries about the electricity bill. In those golden days I never sat down and went through my bills they just got paid via DD .

Now I earn much less and have traded down to get rid of the mortgage , when i did this I had a naive thinking that that was it all my money was mine . Then I had to look at the bills as i realised how much they were . HERE IS MY LIST. on a tiny one bedroom flat.

Service charge and ground rent . ( included buildings but not contents insurance ) £84 p.m

Council tax band B £74 a month over 12 months and includes 25% single person discount.

Water I get two bills for this one for water one for sewarage £19 & £20

Contents insurance £19

BT includes unlimited free calls and internet . £42

TV licence £12.50

My electricty was £110 a month , but I have stopped using the dryer and bought a clothes horse to dry the clothes so I hope that comes down as I was told these appliances use a high amount of electricty.

So at present my bills are £390.50 a month , thankgod I got rid of the mortgage and this is a small flat , how much does a family of four or five spend when they live in a much bigger house ?

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Crikey, nearly £400 a month!! It beggars belief. And that's with single person discount etc as you say!

I can't believe electricity costs so MUCH. (Obviously I've known these numbers for years, but it is still a shock when you compare to income... well, not compared to the high & mighty income of most on here lol). That £400 a a quarter of my take-home! Add rent, food & travel to that and there's NO chance I'd get by easily - would have a tough time of it for certain. Travel now costs a FORTUNE. I could buy a place away from work but commute would cost a bomb... or I could MAYBE stretch to a place near work without the travel costs but the rent/mortgage near Edinburgh is scandalous. Total catch 22.

It's those extra bills, like you say...

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Had an interesting conversation at work today about the cost of getting a degree nowadays and then the cost of housing. One good point made was how (as pointed out here so very often) dual income has really messed things up and increased costs for all. After that I was listening to some folks similar age to me, some of whom rent and some of whom have 'bought'. As evident as it may be, and I know this post doesn't bring any new facts or numbers to the table.. but thank HEAVENS I still stay at home, that's all I can say. Listening to just how much these people fork out on council tax, electricity (one person was paying £85 a MONTH for electricity and £195 a month for council tax), the rent/mortgage and all other associated costs... these people all live with partners so the costs are shared, but even then they were saying how little money they keep by! When the time comes I will be absolutely mortified to see savings income dwindle, if any remain. This is a pretty simple post, nothing new... but I just HAD TO SAY IT! What a load of sunk costs, honestly. I bet if/when you lot decide to buy, you will be gutted to see all that money just... gone...!

I agree. The era of two income families is a form of deflation has masked the increase in the cost of living. We are having to work harder and harder to get by. Once upon a time, uk families needed one decent working class income to live a modest lifestyle. Now we need two middle class incomes. I'm an engineer and the wife is a branch manager, and we struggle to justify the vast amounts of debt the sheeple have taken on board to join the herd. The words 'home', 'chicken' and 'roost' come to mind with this debt explosion and HPI.

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Crikey, nearly £400 a month!! It beggars belief. And that's with single person discount etc as you say!

I can't believe electricity costs so MUCH. (Obviously I've known these numbers for years, but it is still a shock when you compare to income... well, not compared to the high & mighty income of most on here lol). That £400 a a quarter of my take-home! Add rent, food & travel to that and there's NO chance I'd get by easily - would have a tough time of it for certain. Travel now costs a FORTUNE. I could buy a place away from work but commute would cost a bomb... or I could MAYBE stretch to a place near work without the travel costs but the rent/mortgage near Edinburgh is scandalous. Total catch 22.

It's those extra bills, like you say...

It is all so fking expensive .

I earn just under the average wage but this year I have dipped into savings and dippped in quite a bit , that must stop as there is not that much left.

I do smoke and that is a fortune , but do not drink , and only gamble on the lottery , my holiday this year was a week house sitting in Hampshire . I buy very few new clothes and untill recently had no debt . I do have a bit of debt now as I bought a new car trading in the old adding a few thousand and paying the rest over 4 years. Yes that was extravagante but fk it I might be dead next week and rent or mortgage is not something i have to worrie about.

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Those in their 30's who are still at home have much more fun and time doing things they want to than those who 'own their own place'.

Who is the winner and who is the loser ? Not quite so clear cut as it was a few years ago when all the homeowners were the uber winners. I see lots of jealousy these days to my lifestyle of living at home and having a ball. The losers have become the winners and vice versa. :lol:

Although I have to move out soon. Gonna have to start doing my own washing and everything.

Shokerooney. Although I have done it before many a time but far easier when it is done for you. :D

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I don't know how I'll manage. My girlfriend is older and so as we age, I'll end up as dominant income (though luckily she has a flat paid off). Things are just coming to a head right now. Been at home a while and it's fine if sometimes agitating. Been finding out tidbits of info about who earns what at work (I am totally underpaid compared to some who appear to do much less!!) and it gets my goat... could work a different company but the commute costs and other factors would make me puke, so plenty to think on. At some point will have to move out. Still keen on going abroad - girlfriend not so keen as thinks we'd be better off financially here, which is probably true (Germany/Vienna higher income but higher taxes, and U.S. higher income so that's best for earnings for a few years if I can stand it there). I can see the time approaching, though...... and I'm not going to like it one bit. I don't mind paying my parents digs right now - it's not extortionate and there are benefits, and my money's going to them and not some scumlord BTL. I can see how the sheeple get trapped/brainwashed. Hell, I was brainwashed at one point before I found this site! It's fine for many here to say this and that, but we know many here are on astronomical wages or sitting tight at home like myself right now. Very few 'average' cases to be found here.

firesale - I was surprised to hear some of the engineers around me today saying that they wished they'd done something else (work-wise) even for a little while. They never since getting back into tech would be hard... but one would have liked to have taught.... and another would have liked to have been a dentist! If I had the inclination I'd join the RAF and get trained to be a dentist by them - £53k after training... too right!

The whole situation's just lame. Even if prices come down, power is only going to go up, as will petrol and fuel prices (I reckon, anyway!). If we get a miracle crash, that'd be great in terms of paying the capital off quickly.. but there'll still be plenty to whine about. The way things are going, perhaps it's just best to rent in beautiful countries even if it does leave you a little skint, get some great life experiences down... then when you hit 60 or whatever, have a final blow-out and just jump off a bridge.

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It is all so fking expensive .

I earn just under the average wage but this year I have dipped into savings and dippped in quite a bit , that must stop as there is not that much left.

I do smoke and that is a fortune , but do not drink , and only gamble on the lottery , my holiday this year was a week house sitting in Hampshire . I buy very few new clothes and untill recently had no debt . I do have a bit of debt now as I bought a new car trading in the old adding a few thousand and paying the rest over 4 years. Yes that was extravagante but fk it I might be dead next week and rent or mortgage is not something i have to worrie about.

Sometimes you have to treat yourself lol. To hell with it! I never travelled when I was young (not from well-off background) but now I make sure to have one stellar holiday every year. I'll tell you after taxes & NI & PAYE student loan deductions I'm looking at about £1600 a month. Take off £150 digs (yes, VERY generous my parents!!!), fuel, eating out a little at weekends... saving about £800-1000 a month!! Now imagine if I moved out.... £600 a month mortgage, £400 costs you highlight above... that would eat up all savings. And then I'd have to cut back in order to meet travel costs... ain't going to happen!!

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ccc, I hope to stay at home longer. IF I can stomach being paid below my market rate for longer. Ironically, since I'm at home and saving, I'm better off even if I am underpaid! Think the girlfriend would rather try to buy some place but looking at that catch 22 situation, I am hesitant. Very hesitant to move. What's forcing you to move out.. gonna stay in Edinburgh?

Cheers, Bob. I admit I like to post these basic common sense posts and get some anecdotals in return. It's the REAL thing and gets back to the root of the problem. No matter how many times it's discussed, I always find it interesting and more relevant than looking at charts.

Edited by guitarman001

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firesale - I was surprised to hear some of the engineers around me today saying that they wished they'd done something else (work-wise) even for a little while. They never since getting back into tech would be hard... but one would have liked to have taught.... and another would have liked to have been a dentist! If I had the inclination I'd join the RAF and get trained to be a dentist by them - £53k after training... too right!

The whole situation's just lame. Even if prices come down, power is only going to go up, as will petrol and fuel prices (I reckon, anyway!). If we get a miracle crash, that'd be great in terms of paying the capital off quickly.. but there'll still be plenty to whine about. The way things are going, perhaps it's just best to rent in beautiful countries even if it does leave you a little skint, get some great life experiences down... then when you hit 60 or whatever, have a final blow-out and just jump off a bridge.

I think you will find that most people wish they had done something else , it is human nature to think the grass in greener on the other side .

However don't get to down about it all and thinking about jumping off a bridge at 60 is not something to dwell on . Your years away from 60 , but i do agree things is grim.

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Don't worry, I wont be jumping any time soon ;)

I do wonder about that, though... would I have the b@lls to do it. I don't want to get old and infirm, loaded to the b@lls in debt.

(Or maybe I'll get loaded to the b@lls in debt then 'do it'!).

What is that called, when you say all your life you don't believe in religion, then at the final moment you say you do in order to try to 'get into heaven' (sorry, a little OT but I used to know and now have forgotten!).

Anyway, that all reads as a bit mad, but don't worry. And yes I know there are people in the world much, much worse off. I've seen it first-hand.. but let's face it, people do relative comparisons to those closest and most similar to them.

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1998 moved to London after Uni. 1 bed not bad Victorian conversion flat on housing benefit in Lower Clapton Hackney. Got my first job, had to move out to a house share in order to make work worthwhile and financially viable. .

This was my 'wtf?' divine moment. This was 13 years ago!

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ccc, I hope to stay at home longer. IF I can stomach being paid below my market rate for longer. Ironically, since I'm at home and saving, I'm better off even if I am underpaid! Think the girlfriend would rather try to buy some place but looking at that catch 22 situation, I am hesitant. Very hesitant to move. What's forcing you to move out.. gonna stay in Edinburgh?

Cheers, Bob. I admit I like to post these basic common sense posts and get some anecdotals in return. It's the REAL thing and gets back to the root of the problem. No matter how many times it's discussed, I always find it interesting and more relevant than looking at charts.

So why can't you move into the no mortgage flat your burd has ?

My mum is having to move out and is gonna rent a smaller place to save money. So I am moving elsewhere. At 34 years of age I cannot really complain. :D

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So why can't you move into the no mortgage flat your burd has ?

My mum is having to move out and is gonna rent a smaller place to save money. So I am moving elsewhere. At 34 years of age I cannot really complain. :D

:) I'll be 27 myself, soon.. I *could* move to her flat and I keep giving her that as an option. Live there for a while while we save and THEN if we want, we can buy some place nicer (it's an old council flat). It's also to the West of town and I work on the East side (fuel bill would be £240 a month - trust me, that figure is correct). My parents rent a council flat and the rates are superb (though the street is pretty bad..!). We're talking ~£200-250 a month (isn't that a dream). Some scumlords have bought some flats and are renting out at £500-600+ a month in the same street! OK enough about myself..

Edited by guitarman001

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I do and I don't. Anyway plug away with your anecdotals guys, if you want..!

We proles, we're not supposed to have money, of course everything is expensive.

Are you going to let that stop you living your life?

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Until next march I earn what I consider to be a very good wage (somewhere over national average) and spend £1015 (gas/electric £110, council tax £106, water £23, work travel £180, internet £21, rent £575) before I consider eating. Luckily the level of my earnings means the better half can save all here income and I can save almost as much. But I also wonder how other people can do it (buy a big fvck off house with a mortgage to boot with a tiny deposit). Granted I'd not have had rent to pay but like as will happen in march I could find myself unemployed and then we'd be reliant on her wages which would only just cover outgoings never mind that unexpected expense. I can think of one example where the couple were both on less than average wage (him £18k, her £4.5k bursary) who bought in '06, they managed the deposit by borrowing £30k from his parents and bought for £127k. Stopped hearing from them when the market turned south but only after they told us they had had to borrow £30k more to make ends meet :lol::lol::lol: .

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Totally agree with this thread. Inow have no debt other than the mortgage, and between car and utilities, it's very difficult to save. And I earn A LOT more than average wage.

GF had result of the year. Lovely bedsit, own shower room, no bills or CT - 300 a month.

I pay 420 mortgage, and another 400 on misc costs.

Chabge is gonna come, though. For a start BT can whistle. GIFF GAFF and nowt else, broadband just isn't worth it. And my car use has plummeted.

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guitarman - are you bipolar?

one week it's a glass half empty thread and now it's a glass half full thread (and the latter looks correct in your case)

which is it to be?

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We proles, we're not supposed to have money, of course everything is expensive.

Are you going to let that stop you living your life?

To be honest if I moved out, I'd still be doing what I am right now. I would still enjoy films, I would still learn languages, I would still read up on engineering in my spare time (geek or what!)... true I would have a greater sense of independence, but I really wouldn't do all that much different!

------------

Borrow £30k to make ends meet? Jesus... I know what you mean, though... I don't know how I'll be able to compete with these couples who both earn average wage. A friend of my girlfriends.. I mentioned it before... lorry manager. Massive house, BMW X5, Disney Florida EVERY year AND a second holiday each year.. I'm bewildered. When you look at those costs like heating and council tax etc which add up... and look at the paltry state pension and non-existent personal pensions of many (which is only getting worse by all accounts), you must wonder just how pensioners are getting by - seriously! The low interest rates evidently has them fuming!

------------

Si1, nowt wrong.. I only ever make posts like this when I hear a new story or get insight to some anecdotal. I know what it looks like, but I'm fine really ;)

Edited by guitarman001

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Si1, nowt wrong.. I only ever make posts like this when I hear a new story or get insight to some anecdotal. I know what it looks like, but I'm fine really ;)

i was being somewhat facetious

B)

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Those in their 30's who are still at home have much more fun and time doing things they want to than those who 'own their own place'.

Trying to have discreet sex in your parents house isn't fun...

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most people are pretty desperate to move out of parents' home, all sorts of reasons, the number of people i know who can happily stand their parents for long periods of time is small, and the latter set also includes parents who are cool about women staying the night; even then I suspect banging headboards are not so readily permitted ;)

also depends on where parents' house is, if it is not near decent/interesting work then you simply have to move out, in addition, or be a minimum waged cuckolded freak all your life with no opinions independent of your parents (I know a few of these too, or rather knew as i gave up on them some time ago)

Edited by Si1

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Luckily (?) I work a lot, spend my evenings doing my hobbies, then at weekends am off to my girlfriends' place (so not glued at home!). Guess many don't have the same setup, think I'm lucky the way things are working out.. for now.

Edited by guitarman001

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  • 284 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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