I have done a brave and possibly over-ambitious thing.
I have added ‘buy a house’ to my list of 40 things to do before I’m 40.
Now I should say here, before you worry I am going to rush out and buy something stupid, Homes Under The Hammer style, that I have three years and 10 months to go before I’m 40, but still; as we speak I have just about zero pounds in savings and no wealthy yet elderly relatives, so I’m going to need a Sensible Plan.
To be honest I had half resigned myself to never being able to afford a house, but surely one of the upsides to living in Taunton has to be the fact that I’m saving money on rent? Add to this the fact that I’m working more than ever – a dual consequence of no longer having Boyfriend to moderate my ‘just say yes’ reflex and also wanting to fill my time with things other than moping – and really there is no reason why owning a house shouldn’t be at least plausible.
It’s not going to be easy though. In fact, it could well be that by the time I have saved up, my savings won’t be enough any more. As the infographic from Totally Money at the bottom of this post shows, house prices have risen over the years at a pace that’s almost impossible to keep up with.
I do have some ideas, but I’m not sure how effective they are going to be:
- Stop going to cafes just because I am bored at home and want to work in Starbucks. (Never going to happen.)
- Stop getting take away just because I can’t be bothered to cook up some crap from the freezer. (See brackets above.)
- Cancel my cleaner. (Come on now – do you want me to live in filth?)
- Hire out Belle for babysitting/chimney sweeping etc. (Note to self – is this legal?)
- Rent out Bee’s rooms to students during term time. (Possible – but potentially embarrassing when I am roaming the house naked in the middle of the night looking for snacks.)
You see? It’s hard. Perhaps I will just have a little muffin and cappuccino while I think about it some more.
Do you have any house buying or saving tips?
That is a scary comparison!
Shocking isn’t it Rachel? Although the beer prices are interesting!
Even though we are already on the property ladder (and got on at a reasonable time so we’ve made a bit of money) everything else has increased even more – I just don’t know where we would find the extra cash to make a leap up. Almost hoping for a crash to bring the prices back down, but then nobody would sell as they are all in negative equity. Our best option is winning the lottery (which would be a miracle 1) because the odds are against us and 2) because we don’t even buy a ticket!)
Haha, I’m always thinking how unfair it is that I never win anything on the lottery, but I don’t play either…
Interesting figures! I’m sure I’ve seen whole organic chickens pushing that price! House ownership isn’t all that great. We’ve owned for nearly 10 yrs and barely made a penny and can’t afford to sell and move :( so we’re stuck with mammoth commutes! Good luck. Maybe buy a cafetiere and pour it into a takeaway cup then head out?! The psychology of the cup might work?! :)
It’s more just having other people around I like – perhaps I just need a venue where you don’t need to buy a drink :-)
This is scary to look at, at does not make me feel any more positive about buying a house (something I want to do before I am 30)! Looks like renting for the foreseeable future!