Was it like this when you bought your first place??

[dave0010]

So after years of renting I moved back home to save money to try and buy a place of my own. But since then having done everything I can do to raise money and save money my life seems to have become incredibly boring.

Everything that I used to enjoy as hobbies ie motorbikes, going to the gym, holidays and going out in town with mates I have given up with the single goal of saving. The problem is all I seem to do now is come home from work and watch TV and troll PH.

I would like to buy a 2 bed house but in the area I want to buy they have a average price of £120k. The size of the deposit alone is scary but then also having money left over to furnish and decorate just seems to much to save and take to long. So far I have saved £14k and am saving an extra thousand each month.

So really all I am asking is any advice? am I just setting my sights to high or do I just have to suck it up and get on with it?

[JulianHJ]

Well done for getting £14k together. Give it another year, then with a 20% deposit things will be looking up in terms of mortgage availability.

I wish 2 bed places had been £120k round my way when we bought our first place four years ago!

In essence, suck it up, but you're doing a good job being so disciplined.

[Scott330ci]

I haven't done much for 18 months. I me and the missus moved back to my parents after I lost my job.

We have put together £20k over that time and should be moving out in 10 days. I can't wait.

We will have more money when we move out

Its not hard, but you need to prioritise spending.

Good Luck

[Laurel Green]

'Tis a nice feeling when the mortgage is finally paid off.

[soda]

Suck it up and get on with it

I had a couple of years of self enforced sobriety when I first bought, needed the money for fixing up the house. Quite a few friends thought I was mad but they are now in the process of taking on mortgages, meanwhile mine is now paid off. It just depends how much you want it.

[GTO-3R]

soda said:

I had a couple of years of self enforced sobriety when I first bought, needed the money for fixing up the house. Quite a few friends thought I was mad but they are now in the process of taking on mortgages, meanwhile mine is now paid off. It just depends how much you want it.

This!

Im currently doing the same, bought and sold 3 houses to get myself mortgage free as soon as possible. Not long had my new project (thread will be appearing soon) and while my mates are out spending their money on booze, clothes etc i'm putting it all in to my house and will reap the benefits in a few years!

[Engineer1]

Now are you on a PH average wage or a UK Average wage? As there may be some mileage in buying the house you want using your 10% deposit and overpaying like buggery the overpayment will mean that in 2/3 years you can re-mortgage at 80% or 75% of course this works best if prices are rising and you are paying in a good ammount. If you are on a PH average wage look down the back of the sofa there may be a few grand in small change down there.

What ever you do houses are money pits, the bathroom, the kitchen, the garden will need big jobs doing then the rest will need redecorating or new carpets etc.