A House to call our own - Where we are at..

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I wrote a post 8 months ago about our asperations to own our own home. In that time house prices have gone up 15000 GBP, But we will continue to push onwards!

So some stuff has changed, my old job didn't work out - but it has lead to a new job with slightly more pay for 25% less hours, with overtime I will be able to save more money.

So this is a update post!

Average price for a 2 bedroom apartment is 250000 GBP in my town.

Total savings including all assets is approx. 30000 GBP - So a long way away but a great start!

Mortgage company's will only lend up to 5 times salary, me and my partners salary is about 28K, so we have a lot of saving left to do.

Owning your own home seems unobtainable sometimes but I do feel it can be done with dedication and hard work.

Now we are certain we are doing this we have opened lifetimes ISAs, we can add 8k a year and the government will top it upto 10k to go towards a deposit on a first home.

Little by little we will do this. Will update again in a while!



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Bang, I did it again... I just rehived your post!
Week 84 of my contest just started...you can now check the winners of the previous week!
!LUV
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Average price for a 2 bedroom apartment is 250000 GBP in my town.

£250 000 GBP? My monthly pension-like income is approximately £187.16 GBP. That is approximately £2245.92 GBP. I would need 112 years to get that amount from my pension-like income. And of course there are expenses, so even if I would get this amount, I still would not be able to save it.

By the way, there are parts in my country, where you can buy a house for around £3010.67 GBP.

Well. Good luck anyway. Greetings from Hungary.

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I know 250k is a insane amount but yep thats what it is. A house for 3010 is amazing! Thank you.

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Thats great; I am also planning to get a house on a cheaper budget. I am not sure if this goes with your country, where you can purchase a more affordable home that is already forfeited by the housing finance when the previous owner failed to pay them.

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I think here when that happens the property goes to auction and tends to find its market value that way, auctions is certainly something to consider though!

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It's a good lay down plan.
It's a good move in aspiring, planning, investing towards the plan.

Owning a house in this part of the world will cost at least 2million Naira.

I wish us all success and best wishes in achieving our heart desires.

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Thank you, Good luck to you too in achieving that.

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