lewissheridan Posted February 20, 2006 Share Posted February 20, 2006 Ok I'll start. Status: First-Time Buyer Age: 26 Deposit: £5000 Region: Surrey Housing Requirement: 2-bed semi/terraced/flat - Wife and baby. Borrowing capability: £105,000 Avg. price of home required: £150,000 Willing to spend: £130,000 Contingency/Strategy: -Rent for 5 years max to try and weather the storm and try to grow my deposit. -Possibly emmigrate in 5 years if the market does not correct itself. -Pray and hope for massive wage inflation, or a house price crash. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted February 20, 2006 Share Posted February 20, 2006 Ok Me next. Status: First-Time Buyer/renter Age: 36 Deposit: Every morning Region: WC Housing Requirement: 2-bed semi/terraced/flat with built in Wife and baby. Borrowing capability: £5,000 Avg. price of home required: £11,150,000 Willing to spend: £30,000 Contingency/Strategy: -Rent for ages to try and weather the storm and try to grow my weed. -Possibly emmigrate to rugby in 5 years if the market does not correct itself. -Pray and hope for massive wage inflation, or a house price crash caused by god. Chassis: alloy composite. Suspension: electro-hydraulic Steering: rack and pinion. Quote Link to comment Share on other sites More sharing options...
RichM Posted February 20, 2006 Share Posted February 20, 2006 Status: Renting Deposit: 150 Region: SW8 Housing requirement: At least a 2 bed please Borrowing capability: £200,000 (3.5 times joint salary!) Avg. price of home required: £250,000 Willing to spend: £150000 Contingency/Strategy: -Do more important things like job and baby-making -Wait indefinitely -If no crash, retire aged 70 in a caravan in North Devon Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted February 20, 2006 Share Posted February 20, 2006 Status: active crime in situ Deposit: 150 20mm rounds Region: SW8 Housing requirement: none Borrowing capability: none Avg. price of home required: £250,000 Willing to spend: none Contingency/Strategy: to mastermind an international fraud network. [enter bozzmallox 4. the new robo community officer] "please put down you weapon....you have 20 seconds to comply.... "no bozzmallox...." "switch it off..." ...10 seconds to comply..... "i cant switch it off. throw down you weapon.." ..5 seconds..... "no..no...bozzmallox..no !!" RATATATATATA,....... -------------------- Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted February 20, 2006 Share Posted February 20, 2006 Status: Quo Age: Relative Deposit: Lost Region: One of your friends in the North Housing Requirement: No DHS. Borrowing capability: Infinite it wooud seem judging by the mail I recieve. Avg. price of home required: No secret volcano HQs listed on Rightmove (sh1te they are). Willing to spend: 100 million dollars Contingency/Strategy: -Freeze myself for 20 years until prices are more reasonable. Quote Link to comment Share on other sites More sharing options...
stillill Posted February 20, 2006 Share Posted February 20, 2006 (edited) Status: Housesharing Deposit: will have 50K by end of summer after 4 years of saving Region: N5/N5/N15 Housing requirement: At least a 2 bed please. Borrowing capability: 182k (3.5 x salary) Avg. price of home required: £210,000ish Willing to spend: £175000 Contingency/Strategy: -Become rockstar Edited February 20, 2006 by stillill Quote Link to comment Share on other sites More sharing options...
lewissheridan Posted February 20, 2006 Author Share Posted February 20, 2006 Some serious answers would be good to give a profile of people just for our own sanity. Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted February 20, 2006 Share Posted February 20, 2006 (edited) Ok ok -geniuses are close to madness or something like that.. Status: First-Time Buyer Age: 27 Deposit: £5000 - but can use up other funds if pushed to £10K Region: South Housing Requirement: 2-bed terraced/2 bed flat Borrowing capability: ???? Skies the limit with IO mortgage Avg. price of home required: £ 120,000 Willing to spend: £90K Contingency/Strategy: -Rent for 4 years max to try and weather the storm and try to grow my deposit. -Possibly emmigrate in 4 years if the market does not correct itself. - OR If prices dont plummet, buy in 4 years whatevers available. (i.e given up and become a bull) I am sorry. - OR Otherwise Inherit the family home in 40 years if prices dont fall Edited February 20, 2006 by notanewmember Quote Link to comment Share on other sites More sharing options...
AteMoose Posted February 20, 2006 Share Posted February 20, 2006 Status : Housesharing for peanuts Status: First-Time Buyer Age: 27 Deposit: £29,000 Region: Midlands Housing Requirement: Large house, so i can rent out spare rooms Borrowing capability: £134,000 Avg. price of home required: £200,000 Willing to spend: £134,000 Continue to save at a frightening rate, aim to save at an even bigger rate Continue to set up my own weekends and evenings business Look for an even better paid day job so i can save even more If things stagnate or rise i leave the uk with my money Quote Link to comment Share on other sites More sharing options...
Ignorant Steve Posted February 20, 2006 Share Posted February 20, 2006 40 Yrs old, wife, 2 v young kids. STR buying back £400K deposit Could borrow - ridiculously large amount (approx £1.2 million) Will borrow - £350K - £400K Will buy v soon - 5 bed house plus land Warwickshire. Quote Link to comment Share on other sites More sharing options...
bubbleturbo Posted February 20, 2006 Share Posted February 20, 2006 29 Year old FTB's Current deposit: circa £150,000 Target deposit: (end 2006) £180,000 - £200,000 Amount we could borrow @3.5x: £300K Amount we are going to borrow: £0 Looking to buy: 2 bedroom house with drive and pref garage. Area: SE London/NW Kent Will not buy until market corrects by at least circa 20% and returns to 2002/2003 prices. Looking at the unfolding events, this will likely be 2007, but need to see some drops later this year. Will then move up "ladder" by saving and never paying £1 interest to banks for rest of life. Quote Link to comment Share on other sites More sharing options...
Guest Winners and Losers Posted February 20, 2006 Share Posted February 20, 2006 29 Year old FTB's Current deposit: circa £150,000 Target deposit: (end 2006) £180,000 - £200,000 Amount we could borrow @3.5x: £300K Amount we are going to borrow: £0 Looking to buy: 2 bedroom house with drive and pref garage. Area: SE London/NW Kent Will not buy until market corrects by at least circa 20% and returns to 2002/2003 prices. Looking at the unfolding events, this will likely be 2007, but need to see some drops later this year. Will then move up "ladder" by saving and never paying £1 interest to banks for rest of life. Where do 29 year FTB's get this kind of deposit from?????? That is a lot of saving! Quote Link to comment Share on other sites More sharing options...
HouseDog Posted February 20, 2006 Share Posted February 20, 2006 40 year old FTB Current deposit: £45K Target deposit: (end 2006 £65K) (end 2007 £95K) Amount I could borrow @3.5x: £157K Amount I am going to borrow: As little as possible - under 50K Looking to buy: 3 bedroom house Area: Northampton Strategy: Save more, Buy less. I won't buy until the market corrects by at least 20 - 25% Moved back in with parents at age 40! Yes it's terrible!! Quote Link to comment Share on other sites More sharing options...
homeless Posted February 20, 2006 Share Posted February 20, 2006 35 year old deposit 13.5k amount i could borrow= nothing mortgage required = none amount im going to borrow = none looking to become a travelling salesman for next couple years living in hotels, will buy when i have enough money for the cheapest place in the uk ie 20k Quote Link to comment Share on other sites More sharing options...
munimula Posted February 20, 2006 Share Posted February 20, 2006 Status: First-Time Buyer Age: 30 Deposit: £36,000 Region: Surrey Contingency/Strategy: -Use my deposit to re-train as a chiropractor instead of wasting on housing, give up caring about house prices for the next 5 - 10 years. Career and life quality far more important. Would rather shed the shackles of meaningless office work llife than have my 'own home' -Buy property in 10 years time when it's cheap. Quote Link to comment Share on other sites More sharing options...
Guest Winners and Losers Posted February 20, 2006 Share Posted February 20, 2006 Status: First-Time Buyer Age: 30 Deposit: £36,000 Region: Surrey Contingency/Strategy: -Use my deposit to re-train as a chiropractor instead of wasting on housing, give up caring about house prices for the next 5 - 10 years. Career and life quality far more important. Would rather shed the shackles of meaningless office work llife than have my 'own home' -Buy property in 10 years time when it's cheap. Gee, are you sure you want to miss the buy now boat?? Not many places left. I mean, prices only EVER go up, think about the LONG TERM - I'm just joking by the way! Good for you! Quote Link to comment Share on other sites More sharing options...
CrashBear Posted February 20, 2006 Share Posted February 20, 2006 (edited) Status: house share - First-Time Buyer Age: 26 Deposit: £25000 - 35000 Region: Hertfordshire Housing Requirement: 1/2-bed semi/terraced/flat - Single Avg. price of home required: £170,000 Willing to spend: £130,000 Contingency/Strategy: -Travelling for 18months -2 years (working in aus for 6months) -Come back after 2 years, build deposit. -Possibly emmigrate in 5 years if the market does not correct itself. Edited February 20, 2006 by CrashBear Quote Link to comment Share on other sites More sharing options...
bubbleturbo Posted February 20, 2006 Share Posted February 20, 2006 (edited) Where do 29 year FTB's get this kind of deposit from?????? That is a lot of saving! It is indeed a hell of a lot of saving. 5 years worth, including 2 years of living with parents (moved back for other family reasons) but now am able to save over £4,000 per month. Not much of a lifestyle either for the last few years. It has taken it's toll, but will be worth it over the longer term. I know how very lucky we are and we have had to make many sacrifices. We will therefore not be flushing £1 of that money down the bog, or giving it to some scummer who has lived a lifestyle on credit that we are paying for. Edited February 20, 2006 by BubbleTurbo Quote Link to comment Share on other sites More sharing options...
Oldlurker Posted February 20, 2006 Share Posted February 20, 2006 Status: First-Time Buyer/renter Age: 30 Deposit: £60K Region: London Housing Requirement: 2/ 3 bedroom flat / house Borrowing capability: Hmmm..not looked into how much I could borrow recently, but would be a lot. What I would be prepared to borrow is another thing altogether. Avg. price of home required: £300,000 - £350,000 Willing to spend:Don't want to borrow such an amount that I'm stuck in a certain job career for the rest of my workng life !! Therefore 3.5 * 35K = £122,500 Contingency/Strategy: - Like a lot here I'm not prepared to buy and am not prepared to rush into it (acceptance) I'm happy waiting now for the next five years. - At the moment my deposit is going up steadily each month and there are far better places to invest cash at the moment - Ideally would like to put down £50-100 K on a do-eer upper at the point when everybodies saying don't buy.. Quote Link to comment Share on other sites More sharing options...
ExeC Posted February 20, 2006 Share Posted February 20, 2006 Status: First-Time Buyer Age: 25 Deposit: £7500 Region: Essex Housing Requirement: 2-bed semi/terraced - Child & Fiancee Borrowing capability: £170,000 Avg. price of home required: £220,000 Willing to spend: £145,000 Contingency/Strategy: Wait and hope. Quote Link to comment Share on other sites More sharing options...
sich Posted February 20, 2006 Share Posted February 20, 2006 Status: First-Time Buyer Age: 27 Deposit: currently £40,000 and increasing fast in emerging mkts (either way im better of waiting) Region: Canary Wharf London Housing Requirement: 2-bed flat - for me and GF and spare room for friends. Borrowing capability: not even bothered trying recently as no intention to buy yet Avg. price of home required: back down to trend line at least say when av. price is 120k Willing to spend: 250k on a flat that my landlords trying (for 6 months) to sell for 375k Contingency/Strategy: -Can afford to buy now but not interested in paying top dollar for overpriced assets. -Rent until HPC - it WILL/IS happening. -or leave the country in 5 years if the market does not correct itself. Quote Link to comment Share on other sites More sharing options...
starship fighter Posted February 20, 2006 Share Posted February 20, 2006 status - first time buyer/currently house sharing age - 30 borrowing power - £110,000 approx. deposit - £5,000 currently property required - 2 bed terrace region - sheffield avg. price for property of type - 120,000 plan - rent for at least 4 years, whilst turning current deposit into at least £25,000 buy when market approaches bottom - i'm not willing to pay a penny above £70,000 for the sorts of properties we require, which are imho overpriced by nearly 50% laugh at the fools who are shelling out £200,000 for city centre flats for 'urbanites' Quote Link to comment Share on other sites More sharing options...
?...! Posted February 20, 2006 Share Posted February 20, 2006 Age: 23 Deposit: none Target Deposit: However much I have when the time is right. Region: North, North Housing requirement: large enough for one double bed Borrowing capability: Borrowing? Avg price of home required: Don't require one for the time being. Willing to spend: Would spend the Earth if I knew it was a good deal. Strategy Take satisfaction from explaining to people how politics and economics affect their day to day lives. This is my first audiance (never had the nerve to bore all my friends). Enjoy being young, you're only young once. There's no need to lose sleep over anything you understand. If time fails me I will simply emmigrate. Emmigrating to the US is harder than you think, doing my masters with the OU so I can get an eb1 visa. Would like to live on the Pacific coast one day. Quote Link to comment Share on other sites More sharing options...
Pete95 Posted February 20, 2006 Share Posted February 20, 2006 Status: First-Time Buyer (currently living at home, about to rent with mates) Age: 25 Deposit: £25000-£35000 Region: South West Housing Requirement: 2bed terrace Borrowing capability @3.5x: £105,000 Avg. price of home required: £160,000 Willing to spend: £115,000 Contingency/Strategy: -rent for a few years, and see what happens to my wages -buy if prices fall to realistic levels (20% from current would be enough) -otherwise emmigrate with my savings to NZ, US or Oz Quote Link to comment Share on other sites More sharing options...
Scooter Posted February 20, 2006 Share Posted February 20, 2006 Ok I'll start. Status: First-Time Buyer Age: 26 Deposit: £5000 Region: Surrey Housing Requirement: 2-bed semi/terraced/flat - Wife and baby. Borrowing capability: £105,000 Avg. price of home required: £150,000 Willing to spend: £130,000 Contingency/Strategy: -Rent for 5 years max to try and weather the storm and try to grow my deposit. -Possibly emmigrate in 5 years if the market does not correct itself. -Pray and hope for massive wage inflation, or a house price crash. I am Scooter. You will obey me. Quote Link to comment Share on other sites More sharing options...
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