Do you own your house
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  1. #1
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    Default Do you own your house

    Just wondering how many of you own your house and what age you where wen u got your first house

    We rent we were going to buy but because of my credit score and both mine and ohs income - or more like lack of it I don't think it's ever going to be possible

    Feeling a bit down today as I was getting my hopes up as we have a deposit, seen a house we love and my dad agree agreed to be on the mortgage so he's income would could but told today the only way it could happen Is if my dad bought the house on his own for us

    Sorry just feeling sorry for my self lol

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    It is really hard I got my first house when I was 18 because my family needed me on the mortgage as I had a good wage.

    Now I am a childminder and rent so don't have a house now.

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    I was 22 when I bought my first house, moved three times, don't have a mortgage now and haven't for 7yrs

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    No. I'm in my late thirties and can't see us ever being in a position to buy.

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    Me and hubby bought our house when we were 20 and 22...have had loads of ups and downs with work, money situations etc but I do now think if we didn't buy when we did, we wouldn't be able to now...

    That was 11 years ago now

    I understand how you are feeling tho, it's very hard now to get a mortgage. I hate to think what it's gonna be like when our boys want to buy


    Sarah x
    Sarah, Bumble Beez x x

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    We will in 2 years, 7 months and 12 days

    Luckily hubby bought our house when he was in the army, so we had a house to move into

    I feel so sorry for people now wanting to buy a house but can't. My son and his wife pay more for rent than they would for a mortgage but can't get a mortgage, so wrong!

    Carol xx

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    We have to rent. We had deposit saved just needed a couple more years for our credit ratings to be back to fabulous and we'd have been sorted. Instead hubby had a stroke lost his job and at the same time our home (tied cottage) and we had to live on our deposit savings and use it as a 6mth down payment for renting..... Lifes a true bummer sometimes. I don't think we'll ever be able to afford to buy now, and rent is so expensive. Still hubby is better, able to work a bit now so at least he has some health x

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    I'm 53 and have moved house 40 times in my life, mostly rented, sometimes mortgage - DH and I will be 65 (2nd marriage) when the mortagage is paid but I know many people who have never owned a house and always rented. Credit rating has made it almost impossible for many people to get a mortgage....

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    I bought when quite young, 21 on my own, bought a second one around 28. Sold one. I do actually rent too, because the area my house is business is slow so rent 180 miles away! Have you thought about buy to let? and then rent it to your self? You would need a good deposit though! Or what about this new government help, you save 5 per cent the government lend you 20 per cent, it has to be a new build though. Really sorry you are feeling down, what about part buy part rent?

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    First bought at 28, massive mortgage, really struggled. Had to move when DS was born and downsized back to a smallish terrace to make things easier. We still have fairly massive mortgage on interest only - I am now 42 - though we now own about half the house. So will have to move/downsize again before we can retire. It's a struggle, but I'm well aware how hard it is when you are just starting out. x

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    We bought when I was 25, oh previously had his own flat which we sold and bought the bungalow together (3 yrs ago).

    Glad we did it then, both of us are now self employed and will struggle to get another mortgage for a few years I think!

    There is no wag I could have done it without oh and the deposit from the flat though abs would still be renting.

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    I grew up in the Thatcher era of you had to be a home owner - which I am now, mortgage paid but not without some scary moments of unemployment and high interest rates. My sons, who live in Brighton and Manchester have no immediate intention of being home owners, especially the one in Brighton - his 1 bed flat would cost more than my 4bed detached -with a 10 year+ plus salary as a deposit. They are of the mindset that very few people in Europe aspire to be home owners, the flexibility of renting and the impossibility of getting affordable mortgages that are not wrapped up in % being owned by someone else means they are quite happy renting.
    As a 70's girl this has taken a bit of getting used to ..... But I like that they are enjoying life and not worrying about what they can't afford.

    The world is changing, home ownership is not the automatic pathway now for a most young people. My advice would be to enjoy life now, and save, if you can, as credit ratings have a life span. Enjoy the fact that someone else is responsible for repairs and put this dream on the shelf for a bit until you are better placed in life.
    My brother, who is in his 60's spent his whole life in army accomodation and has only recently bought a home - near the seaside.

    You don't have to own your own home to be happy.

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    Quote Originally Posted by bindy View Post
    I bought when quite young, 21 on my own, bought a second one around 28. Sold one. I do actually rent too, because the area my house is business is slow so rent 180 miles away! Have you thought about buy to let? and then rent it to your self? You would need a good deposit though! Or what about this new government help, you save 5 per cent the government lend you 20 per cent, it has to be a new build though. Really sorry you are feeling down, what about part buy part rent?
    Buy to let and renting to yourself is totally illegal. We had lots of problems with this as we wanted to rent to family and almost got refused because of it.

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    Yes, I'm 31 and brought house I'm in with hubby 8 years ago so I was 23. Again we were very lucky as didn't need a massive deposit like you do now.
    I think if we were looking now we would struggle to get the deposit together as it's mad how much you need.

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    Quote Originally Posted by FloraDora View Post
    I grew up in the Thatcher era of you had to be a home owner - which I am now, mortgage paid but not without some scary moments of unemployment and high interest rates. My sons, who live in Brighton and Manchester have no immediate intention of being home owners, especially the one in Brighton - his 1 bed flat would cost more than my 4bed detached -with a 10 year+ plus salary as a deposit. They are of the mindset that very few people in Europe aspire to be home owners, the flexibility of renting and the impossibility of getting affordable mortgages that are not wrapped up in % being owned by someone else means they are quite happy renting.
    As a 70's girl this has taken a bit of getting used to ..... But I like that they are enjoying life and not worrying about what they can't afford.

    The world is changing, home ownership is not the automatic pathway now for a most young people. My advice would be to enjoy life now, and save, if you can, as credit ratings have a life span. Enjoy the fact that someone else is responsible for repairs and put this dream on the shelf for a bit until you are better placed in life.
    My brother, who is in his 60's spent his whole life in army accomodation and has only recently bought a home - near the seaside.

    You don't have to own your own home to be happy.
    The problem being, rent is so expensive now, with very few people able to get mortgage, the rental market has shot up! My friend bought a flat in my block, I rent, I pay double her mortgage. I also have the added pressure of my land lord giving me 2 months notice at the end of each 12 month contract.

  16. #16
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    We were lucky to buy when we were young before house prices rose too much. I am 33 now. We have lost a lot over the years (about £80,000) as we have moved quite a bit and house prices have fallen. Now we are planning to emigrate I wish we were renting as we could go at the drop of a hat. Owning your own home can tie you down. Having said that when we sell we will have a nice amount of money to take with us so it's not all bad.

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    Quote Originally Posted by bindy View Post

    The problem being, rent is so expensive now, with very few people able to get mortgage, the rental market has shot up! My friend bought a flat in my block, I rent, I pay double her mortgage. I also have the added pressure of my land lord giving me 2 months notice at the end of each 12 month contract.
    In fairness though a BTL mortgage is so much more expensive. We have a rental property and the APR is much more than on our residential mortgage.

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    We bought our first house about 15 yrs ago. Have moved a few times but a couple of years ago ended up renting for 6 mths whilst selling one and needing to live 200 miles away! I liked renting as no worries about maintaining etc but I would worry long term about land lord wanting us to move or increase rent etc.

  19. #19
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    I was 21 when i brought my first house with the ex now im 34 and in our 3rd house we brought. We split up 3 and a half yrs ago and im still in 'our' house. Ive paid the mortagage on my own now for 3yrs...wish i could get him off it but bank wont allow me as i dont earn enough on paper. Maybe one day. Its a joke but im glad as i would never beable to get a mortagage now. I am glad that i stayed here tho. Its tough at times but i think as long as mortagage paid then me and dd have got a roof over our heads.

  20. #20
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    Quote Originally Posted by Kerry30 View Post
    I was 21 when i brought my first house with the ex now im 34 and in our 3rd house we brought. We split up 3 and a half yrs ago and im still in 'our' house. Ive paid the mortagage on my own now for 3yrs...wish i could get him off it but bank wont allow me as i dont earn enough on paper. Maybe one day. Its a joke but im glad as i would never beable to get a mortagage now. I am glad that i stayed here tho. Its tough at times but i think as long as mortagage paid then me and dd have got a roof over our heads.
    Kerry, do you have a legal agreement set up? If you are paying all of the mortgage, but you ex is still on the mortgage and deeds, when you come to sell, he could claim "his" half, it happened to my DH with his ex.

 

 
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