Ok, I’m now seriously considering a move in to the big bad world that is Property and moving up to the first rung of the property ladder. But my god, what a scary prospect.
For a start, it goes without saying that when it comes to property prices here in the South East, us first time buyers are fairly stuffed. In my part of the New Forest/Southampton, I would be expected to pay £90,000 on average for a one bedroom flat. I could afford it, but it’s a mighty scary prospect.
What tales does anyone else have about moving into your first House/Flat?
Moving Out
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Ed Hammond
- Posts: 90
- Joined: Fri 15 Aug, 2003 13.59
- Location: London
Definitely do it. Much better than pissing all your cash away on rent. I would if I could afford it.
Ditto to what the others have said.
I got my first one-bedroomed flat in 1996 for £30k (which seemed like a lot then) and I've crept steadily up the property ladder and now have got £100k of equity in a 3 bedroomed house. And at no stage have I ever put deposits in, it's all been done on mortgages.
Look at it this way: if you don't do it now, you might never be able to afford to get on the ladder. As I said to a friend, if you hang around trying to save up a deposit you'll find that prices have gone up by more than the amount you've saved up!
I got my first one-bedroomed flat in 1996 for £30k (which seemed like a lot then) and I've crept steadily up the property ladder and now have got £100k of equity in a 3 bedroomed house. And at no stage have I ever put deposits in, it's all been done on mortgages.
Look at it this way: if you don't do it now, you might never be able to afford to get on the ladder. As I said to a friend, if you hang around trying to save up a deposit you'll find that prices have gone up by more than the amount you've saved up!