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Give Me Some Insight!

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I know of 3 FTB females that have purchased this year. The strange thing is they are all doing overtime to do their places up. Now I would have thought that when I buy my first place, I would be comfortable that when I purchased I would have a budget to atleast do the place up to the point where it is a place to come and relax after work.

They seem to me, that when they have purchased they havnt taken into account the extra's that come with doing a property up. (As far as I know they have not brought to make profit from these places).

Does anyone else know of others that have purchased in the alst six months and are working "overtime" to find that extra money to plow into their property?

for those who want to do some maths

All purchased places this quarter.

2 of these propertys where purchased at 72k

1 of these earns 15,3k and presumable put down a 10k deposit (but is doing overtime, so leads me to belive they have no savings to not be able avoid doing overtime.)

The other 18k, and put down no deposit and IO morgage.

the 3rd wont really tell me how much they paid for the property but said they had £10 to last them to end of the month last period.

____

Thought Id just put some "real" examples of that FTBS are doing and what Ive noticed. If anyone would like to know any other figures post some questions and Ill get them from these 3 people if the interest is there.

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I know someone who bought at the end of last year.

He and his girlfriend (with joint incomes) bought a flat for £100K ish.

They now can only afford to go out with friends rarely (about every two months compared with weekly or more).

Is owning really worth that kind of drop in standard of living?

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  • 333 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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