how are first time buyers meant to get the capital to buy?

[redhead23]

it seems impossible to buy a new house if your a first time buyer , do you think there will ever be a chance that house prices come down ?
or will they keep increasing , it will take years to save !!

[wiggal]

We are sticking to renting at the mo!
We do well for a couple our age, im 20, my partner is 25 but between us after tax we bring in around �3500, mostly due to my partners contracting job!
We could never afford to buy the kind of house we have now, and i love it where we are, we could never even rent a house as nice as what we have now if we choose to move!
We have 3 bedroom detached house, we are allowed any pets we like aslong as the house is well kept, we are 5 mins from shops, 2 doors from a drs surgery, our front door is opposite a school gates and our garden parks on to a huge park with woods, lake and a small cafe! We pay �695 a month which i find great, but i cant imagine us buying a place any time in the next 5 years, the thought scares me!

[redhead23]

oh dear sorry i started this post i love army men phwooar x

[whiffey]

Joe Minter, your advice was sound, yes, but of no flaming use at all to a young couple with no capital.

[redhead23]

thanks caz !!! and everyone for ur comments !!

[wiggal]

Sorry if my advice wasnt useful or to encouraging redhead, but i dont see the point in saying just what people want to hear! I would prefer to just say how i see things and be honest, wether its what people want to hear or not!

[ummmm]

Must admit.....My Grandad gave me the deposit for my first house. That was 13 years ago and I paid him every penny back....but with no interest. I sold that house for a profit......sold the next one for a profit and am now in the house I am in now. Hopefully, God willing, I will manage to stay here!!!

[redhead23]

wiggal - its all useful mate i appreciate everyone who comments thank u

[redhead23]

ummm i could always live with u

[Skreecheeboy]

Check out the DIY guide on this site www.schnews.org for setting up a Housing Co-op. It's my inspiration at the moment and I'd happily die without any capital or savings for the good of humanity, comunality, practicality and perpetual insanity! In a nutshell a housing co-op is set up by members (could be your mates), they then decide on a blueprint of agreed basic rules such as what would happen to the property in the eventuality of somebody moving out etc, and the housing co-op then goes on to purchase a dwelling, residents can then rent the property off themselves, bills are reduced due to the communal nature of it and once the property is owned they can then go and buy another property to rent out or sell up and donate the money to worthy causes (I would like to buy an aid vessel such as the rainbow warrior) and it's all not for profit/ for the aid of the human race! Too much greed and corruption in the world today!

[sleepyj]

red and ummm living together lol would be a knocking shop . watch out men you are not safe to walk the streets no longer :)

[ummmm]

Of course you can sweet.....you can live the chaos with me.....pmsl... :-)

[sleepyj]

any one got any kids i could borrow i need to go to council offices soon i need a place to live i have 2 kids . if i took a bout 7 more would i get a bigger house . even one with a swimming pool would be nice . do council houses have swimming pools? lol

[redhead23]

oioi sleepy what you trying to say ?? me and uummm are hussys ?? lol well i am don't know but ummm , im off to watch the apprentice xxxx ill be at urs ummm soon u lucky thing !!! god u will be the envy of many a man !!!

[grumpii]

Sleepy you could borrow two of mine they have chicken pox and look mangy, you could be in one before you know ,and the council houses by where I live have swimming pools, motor homes and jet skis, cos all the benefit cheats live there,

[rugeleyboy]

joe's advice on this subject is very clear and i think very well put out so anybody can understand!

there are houses being built around this area that are government help scheme were as stated before, you only need a 50% mortgage then pay the rest if and when you can afford it!!

i bought my first house at 28 and had 2 more within 3 years using the equity off my first house to do the funding.....however, i didnt listen to my gut feeling and sold them all (bar the one i lived in)in 2003 as i thought the housing market had come to its climax!!! how wrong was i....... if i sold them at todays current market i would be completely mortgage free and maybe have 100k to play with!!!


also.................... cant you get a 110% mortgage nowadays???

[Miss-taken]

I bought my first house last year all on my little lonesome!
I live on the south coast which is V expensive but you simply have to be prepared to make some compromises. Mine was location - I now live in an area that I really wouldn't choose to live in but hey - its only for a couple of years. I also have a 40 year mortgage which makes the repayments basically the same as my rent used to be!