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hrsturbo

What Should I Do?

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I'm 21 and live in an expensive area. I am a first time buyer and can only afford to buy a flat as house prices are stupidly high!

I want to get on the property ladder so I can build up to get a house.

Should I buy now or rent (which is only 100 cheaper and a mortgage <_< ) hoping that house prices will fall?

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I'm 21 and live in an expensive area. I am a first time buyer and can only afford to buy a flat as house prices are stupidly high!

I want to get on the property ladder so I can build up to get a house.

Should I buy now or rent (which is only 100 cheaper and a mortgage <_< ) hoping that house prices will fall?

Where do you live?

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I'm 21 and live in an expensive area. I am a first time buyer and can only afford to buy a flat as house prices are stupidly high!

I want to get on the property ladder so I can build up to get a house.

Should I buy now or rent (which is only 100 cheaper and a mortgage <_< ) hoping that house prices will fall?

It has always been a struggle for first time buyers but will be worth it in the long run. Prices are going up, up, up. If you don't buy now you may have missed the boat for ever. Property only ever goes up and is a great way to build a nest egg. If I were you I would do all I could to get on the ladder. After all renting is just dead money.

Edited by Phaedrus

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Guest Winners and Losers

I'm 21 and live in an expensive area. I am a first time buyer and can only afford to buy a flat as house prices are stupidly high!

I want to get on the property ladder so I can build up to get a house.

Should I buy now or rent (which is only 100 cheaper and a mortgage <_< ) hoping that house prices will fall?

Have you checked out www.pricedout.org.uk as well???

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It has always been a struggle for first time buyers but will be worth it in the long run. Prices are going up, up, up. If you don't buy now you may have missed the boat for ever. Property only ever goes up and is a great way to build a nest egg. If I were you I would do all I could to get on the ladder. After all renting is just dead money.

Yes well said, you forgot to add that Iraq did have WMDs and Tim Henman will win Wimbledon.

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I'm 21 and live in an expensive area. I am a first time buyer and can only afford to buy a flat as house prices are stupidly high!

I want to get on the property ladder so I can build up to get a house.

Should I buy now or rent (which is only 100 cheaper and a mortgage <_< ) hoping that house prices will fall?

What type of mortgage are you comparing? Interest only or repayment? If repayment what's the term (length)? Also, is the rental place the same as the flat you intend to purchase?

Also, the average FTB is 34, so don't feel left out. Your just part of the priced out generation! I'm 25, and can't afford a reasonable place!

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Guest Winners and Losers

Who ever used to think of buying house when they were 21! People have been brainwashed into thinking that property is the only way to make money. Very sad state of affairs indeed.

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Who ever used to think of buying house when they were 21! People have been brainwashed into thinking that property is the only way to make money. Very sad state of affairs indeed.

True. I was care free and living it up when I was 21. B)

Oops, I still am! ;)

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True. I was care free and living it up when I was 21. B)

Oops, I still am! ;)

Didn't I just give you a job to do?? :unsure:

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I'm 21 and live in an expensive area. I am a first time buyer and can only afford to buy a flat as house prices are stupidly high!

I want to get on the property ladder so I can build up to get a house.

Should I buy now or rent (which is only 100 cheaper and a mortgage <_< ) hoping that house prices will fall?

Shop around for the largest interest only mortgage you can possibly get and buy quick before prices start rising fast again. Lie on the application form about your income if necessary -- everyone does it these days.

House prices double every ten years so before long you'll be quids in. House price inflation is free money, you'd be crazy not to climb on the ladder now and get a piece of the action!

Whatever you do don't listen to any of the nutters who talk about prices crashing. OK, they wobbled a bit last year but now they are up and away again, so the doom spreaders have been proven wrong. House prices are just too important for the Government to let fall. We're living in a more or less permanent low interest rate, low inflation, high employment era -- there is just nothing on the horizon that could make prices fall.

Edited by Gravity's Rainbow

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I'm 21 and live in an expensive area. I am a first time buyer and can only afford to buy a flat as house prices are stupidly high!

I want to get on the property ladder so I can build up to get a house.

Should I buy now or rent (which is only 100 cheaper and a mortgage <_< ) hoping that house prices will fall?

If had bought at 21 I would have been mad, however with foresight now I would have atleast been on the ladder, when I was 21 we were still tail end of the last crash and I thought that such a large boom would never happen again how wrong was I,

My advice is save hard, stay at home if you can, learn as many skills as you can and never take anyones advice/opinion as the truth, always read the history and discover your own truth.

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I'm 21 and live in an expensive area. I am a first time buyer and can only afford to buy a flat as house prices are stupidly high!

I want to get on the property ladder so I can build up to get a house.

Should I buy now or rent (which is only 100 cheaper and a mortgage <_< ) hoping that house prices will fall?

Only a suggestion but:

Rent as cheaply as you can and save as much as you can. Give yourself a 6 month target, then re evaluate the situation.

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Who ever used to think of buying house when they were 21! People have been brainwashed into thinking that property is the only way to make money. Very sad state of affairs indeed.

No, people "have been brainwashed" into thinking that property ownership is a right.

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So I take it you're renting in an expensive area.

Start by looking whether it is cheaper to rent a place, or cheaper to rent the money to buy the place.

You may find that you can only afford to buy in a crummy area, in which case be very careful.

In a property bust you can't get rid of these places.

My guess is you're probably far better off renting the property than the money, but thats for you to decide.

Bear in mind that the owner of the property is responsible for maintaining the condition of the place, whether that's you or a landlord.

If I was in your position I would find a cheap place to rent, and save as much money as possible for a couple of years. But don't listen to me, do as much research as you need to feel comfortable with your decision.

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So I take it you're renting in an expensive area.

Start by looking whether it is cheaper to rent a place, or cheaper to rent the money to buy the place.

You may find that you can only afford to buy in a crummy area, in which case be very careful.

In a property bust you can't get rid of these places.

My guess is you're probably far better off renting the property than the money, but thats for you to decide.

Bear in mind that the owner of the property is responsible for maintaining the condition of the place, whether that's you or a landlord.

If I was in your position I would find a cheap place to rent, and save as much money as possible for a couple of years. But don't listen to me, do as much research as you need to feel comfortable with your decision.

....From a Guy who was in an identical position in the early '90's;

It goes like this. If my wife binned me tomorrow, took the house and most of my cash, the one thing I would NOT do now is buy another place to live straight away. Any 'deposit' money you have, stash it and earn interest that should exceed current house price inflation. Take this decision as being your best and only real chance to strike gold. Worst case, you may loose minimal headway on the property ladder over the next 12 months or so. More realistically, lie low, enjoy the trappings of 21-hood and pick your moment.

By the way, I made the wrong choice in the early 90's; panicked, bought high, made but a few quid in 8 years................

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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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