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Your first home?

Discussion in 'Personal' started by littlemissraw, Jan 3, 2011.

  1. littlemissraw

    littlemissraw Occasional commenter

    Did you love it or did you buy it knowing it was just a stepping stone? We're currently renting (have been here 3 years) and with a low income are wondering whether to settle and buy a cheapish house (£80k ish) rather than stay off the property ladder for what may be many more years?
     
  2. littlemissraw

    littlemissraw Occasional commenter

    Did you love it or did you buy it knowing it was just a stepping stone? We're currently renting (have been here 3 years) and with a low income are wondering whether to settle and buy a cheapish house (£80k ish) rather than stay off the property ladder for what may be many more years?
     


  3. Experts, no matter how great, can never truly predict the housing market but many will recommend that you buy a home and not a house (unless you are purely going for investment which is a different kettle of fish).

     
  4. Our first home was the student flat Mr L kept on after his friend left, but our first proper house was a tiny two-bedroom Barratt shoebox purchased on one salary (his) and furnished with relatives' cast-offs apart from the sofa (catalogue - this was pre-credit-card) and bed (present).
    We were so proud. Sometimes I drive to it and just look at it for five minutes.
     
  5. littlemissraw

    littlemissraw Occasional commenter

    Aww those are both lovely to hear! How fabulous.
    We haven't seen anything that I feel anything for, just the sense of "well its only £60k maybe it would be the sensible choice..." maybe we just need to wait until I secure some permanent employment...?
     
  6. marshypops

    marshypops New commenter

    One of you needs permanent employment so that you can guarantee mortgage payments.
    I wouldn't look for a particular house but an area that I was happy to live in, if that makes sense?
     
  7. jonkers

    jonkers New commenter

    We rented for 8 years and then got the chance to buy as sitting tenants, !/2 the price of vacant possession! Been here ever since, 32 years this michelmas. I think that we will both leave in boxes, can't imagine living anywhere else.
     
  8. littlemissraw

    littlemissraw Occasional commenter

    Hes been with the same company for years so thats ok but I had the biggest income until I had to leave my job so we went from looking at houses of £130k to as cheap as possible at the moment. I'm starting my own business from next Monday so I know we won't be able to use this income (if all goes well) on a mortgage for a good number of years.
    Should we just stick to renting or is any owned home worthwhile? I know the repayments would be far less, or at worst the same as our rent, on a mortagaged house.
     
  9. marshypops

    marshypops New commenter

    I don't know littlemiss. I think I'd rent until the housing market was clearer and you have a deposit for the house you wanted. Then I'd take time finding something that actually met my basic requirements (number of bedrooms/ space etc).
     
  10. oldsomeman

    oldsomeman Star commenter

    If you have cash,then wait as the market is going down at the moment....ot at least bargin lower than the price.
    I always remeber the first meal in our new house...........fish and chips in paper, sat on an old ammunition box.................wehad the ded and 2 deck chairs to start..and family cast offs
    i do remember the bedside cabinet was the old wooden orange boxes!
    we have been here 33 years now!
     
  11. littlemissraw

    littlemissraw Occasional commenter

    The main problem we've had house hunting is parking! We have 2 cars and my OH has a work van. We'd originally ruled out most terraced houses due to this as we didn't want to move somewhereand end up annoying the neighbours but we've since been wondering ifits asessential as we thought?
    Thanks for all your input, parents are useful to listen to but they're always very much on the side of caution [​IMG]
     
  12. littlemissraw

    littlemissraw Occasional commenter

    mmm fish & chips [​IMG]
    We'd be lucky in terms of furniture as we rented unfurnished. All we'd need is a cooker x
     
  13. marshypops

    marshypops New commenter

    Believe me parking will be a BIG issue then ;)
     
  14. I'm still living in my first proper home now!
    However, it is on the market for offers in the region of £195k, I bought it for £160k seven years ago. It's only three bedrooms but very small.
    I'm moving because I want to buy a bigger house with my girlfriend.
     
  15. Just bought our first house - although some of the places I've rented have felt very like home - this one's got COLOUR on the walls and no magnolia in sight (I went on a magnolia obliterating frenzy the day we got the keys). It's cluttered, books everywhere, dog hair all over the kitchen and a lingerin whiff of eau de dog-fart - but I love it!
    Just being able to paint the chimney breast on the wall a really deep luxurious red and not have to worry about trying to tie in some landlord's bulk paint colours with the scheme of your furniture is an absolutely amazing feeling.
     
  16. I love the home we are currently going through the process of buying, which is why im finding it all so stressful! It is a 3 bed semi in a nice area (we already rent very close to us so we know the area well), with a big driveway and a nice garden and we got it for £115k (it was on at £130k!).
    Its a good time to buy in terms of house prices, but getting a mortgage has been a nightmare, and both my OH and I work full time with no bad credit - just be warned that the mortgage companys are not throwing mortgages at people like they used to. The smallest things like my student loan, and the fact that I still have a £2k student overdraft on a current account yet to clear (we've cleared OHs and are now working on mine) have put mortgage lenders off.
     
  17. magic surf bus

    magic surf bus Star commenter

    Our first home was darn sarf - a small damp two bedroom conversion flat beside a main road with no garden or garage. All we could afford in Surrey on two young teachers' pay in the mid 80s. Then the M25 was completed and the flat's value doubled in 3 years, so we had no complaints when we sold it and fled northwards to our current place, which we've been in ever since.
     
  18. egyptgirl

    egyptgirl Senior commenter

    The first flat that we lived in together was a fourth floor flat that we both loved. It had a balcony outside our bedroom, a small kitchen and bathroom, a pretty big living room and it was just right for us. It was a mismash of both of our possessions but it worked. We had awful neighbours though. The couple that lived below us had just got married and would start fighting at about 6 o'clock when she got home from work and wouldn't stop till about 3 in the morning! And it was screaming shouting. Funniest thing was that we had a couple of friends round till about 4am once and we were just talking - no music, nothing. The guy came up and complained that we were disturbing him!
    We then moved into our current house which we have just sold (today actually!) which had a dining room! I have to say that I love the area this house is in and will miss it completely. I loved having lots of specialist shops in the one area and the real community spirit of the place.
    We're moving into a much bigger house that we've tried to buy three or four times in the last 12 months and it finally looks like we're going to be able to do it! With the amoutn of furniture we've got it will probably look a bit bare until we fill it but I think that's going to be part of the romance behind it!
     
  19. I have rented all my life (as hardly anyone bothers to buy here) and have loved all the places I have lived in (bar one) as I made them home (we can do anything we want in our rented accom here).
    My very, very first place, all just for me (as opposed to a flat share) was a tiny 2 roomed flat, just a living room/bedroom, a kitchen and a tiddly widdly bathroom, and the whole place could have fitted into the living room I have now.
    But I loved it. Cos it was all for me, me, me [​IMG]
    And I adore the place I am in now - it is a bit small (although bigger than what I started out with over 20 years ago - but a lot smaller than the house we had when I was married). I have a lovely open plan flat with a balcony right over the Rhine and lots of trees and peace and quiet, as there is no through traffic (at the front) and I am at the back and there is no traffic at all. Just boats going up and down the Rhine.

     

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