Why Saving To Move Out Is So Hard

why-saving-to-move-out-is-so-hard

Oh it’s something that all people my age actually want to do, to be able to move out, own our own house but it’s safe to say it isn’t that easy. I think different generations believe that buying a house is straight forward, but in my area depending on what area you want to live in and we are pretty specific for a 2 bedroom it can be around £250,000. Now we are in a small little town but house prices just seem to go through the roof! Are you struggling right now?

With the government stopping the Help To Buy scheme this December it makes it even more difficult for us to be able to move out because all you would need would be a 5% deposit, which is really helpful don’t get me wrong, but the thing is with the cost of living going up it doesn’t make it any easier. We are all watching and waiting to see what happens with our exit from the EU and it worries me that if we bought a house before what could happen, it could be better or it could be worse, but it is a waiting game.

I am quite lucky because my step mum is a banker so she helps me to predict the markets, gives me advice, support and ideas for helping us to buy our first house, unfortunately with the unpredictability in the world with Donald Trump & our exit from the EU there is a lot that could change with the markets, so honestly what are we supposed to do right now? Well, currently we are still trying to put money away, it’s never going to be £1000s of pounds, but we are using what we have and making the most of it.

What currently annoys me is people say you’ve been married 2 years nearly, why are you still living with your mum? I’ll answer that, with my mental health it hasn’t been an easy road especially over the last 3 years, but when we got a mortgage I wanted Paul and I to have the same last name, it gives us a little more security when speaking to my bank manager. It’s not like we don’t want to move out, I love my mum don’t get me wrong and I love having her just downstairs so I can go and whinge and I know I’m going to miss that when I move out because I can’t ring her (she is deaf) but she respects we need our own house.

We do want children at some point, it’s something that both Paul and I are craving so much but it will happen in good time, I’m 23 & Paul is 25, we have been married 2 years and been together almost 6, w ear enjoying our life!

What makes me feel better is that I’m not the only one struggling, I spoke to my dad the other day and he said that people he works with are 30 and struggling to get on the property ladder, that is in London, but the same rules apply, it is difficult, it’s stressful and people deserve to have our own house.

Are you struggling to get on the property ladder? Do you have any tips? Leave your response in the comments!

Love Amie 2016

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12 Comments

  1. 02/12/2016 / 2:11 pm

    Oh my goodness lovely!! What a post! We were lucky enough to buy our house two years ago as with different last names it was a palava! Stay home and save while you can! No rush!! You can live vicariously through me!

  2. 02/12/2016 / 3:40 pm

    I have to say, I’m actually quite shocked that anyone would suggest it somewhat strange that you and your husband live with a relative still. Just because you’re married doesn’t mean ALL components of your life are complete haha! You’re both still young!

    I’m pretty sure there will be some kind of crash in the housing market around Brexit time (if it happens – I’m still hoping it doesn’t!), but even then I can’t imagine myself in a one bedroom flat of my own. It’s difficult. It’s a bit odd really because if the majority of the younger generation is striving towards is owning their own home, then it implies that over time people will inject less into the general leisure and services market – WHAT THE UK ESSENTIALLY RUNS ON.

    It’s all a mess. I just feel fortunate that I like living with my parents so it isn’t much of an issue for me! 😛

    Lovely post.
    Hannah xx
    https://www.hannahdelacour.co.uk

  3. 03/12/2016 / 9:42 am

    I feel ya. I don’t really plan to get on the property ladder properly ever, renting is my game plan so far haha. I’ve just graduated uni and have found an affordable flat to rent with my boyfriend down the road. I don’t see us ever being able to afford to buy, though, my mam keeps telling me not to be so negative. I think I’m just being realistic. I’m fed up of older generations not getting it.

    I like living with my parents, but at the moment its my mam, dad, sister, me, and my boyfriend all cramped into a not very big house!

    Wish you lots of luck <3 try not to feel pressure to move out x

  4. 04/12/2016 / 4:28 pm

    It is so hard to get on the property ladder! My friends that have homes are very lucky but I’m on my own (aka single) so it’s twice as difficult to save with just one income! Don’t worry! One day, you will have your dream home (as will I hopefully!)
    Tigerface. ♥

  5. Corrie
    05/12/2016 / 2:16 pm

    I didn’t know they’re stopping the help to buy scheme. I started one a couple months back, that’s so annoying! Thats pretty much the only way most people our age can save for a deposit.

    corrie | corriearnold.co.uk

  6. 05/12/2016 / 8:18 pm

    I know many people who live with their parents after marriage, take no notice of anyone who questions you.

    It is so hard to save for a deposit. We were lucky and bought 5 years ago having both lived at home for years and saved up a lot. We also live up North where house prices are just lower in general. My sister is still at home and earns a good wage but would struggle to buy a house now.

    I had no idea the government were stopping Help To Buy. What a pain!

  7. 10/12/2016 / 8:24 pm

    I graduate from my masters in September which means I’ll have a massive student loan to pay as well. Luckily, I had a few gap years before I became a full-time student and saved up a good amount of money, but it is still not enough, as where I want to live you need a 15% deposit – which is absolutely crazy, especially as I’m single as well! I might move back to my mum for a little while to save up some extra money, if not I have to rent a room in a flat.

  8. 13/12/2016 / 9:10 pm

    It’s so expensive isn’t it hun? I look at houses longingly on rightmove and know I’ll never be able to afford the kind of houses I would like. Not to mention in the areas I would like. I’ve had to accept that I’ll be renting until I can save a small deposit and then I’ll have to buy in an area that I’m not so keen on purely because it’s all I’ll ever be able to afford unless my financial situation changes substantially. Least we have a roof over our heads though hey? Could be worse xx

  9. Cecilia
    03/01/2017 / 8:21 am

    I am always staggered by the amount of pressure that is put on young people in the U.K. to buy a house. Coming from France, and despite much lower house prices, no one expects to be able to/want to buy a house in their 20s, and 60% of people will rent all their lives. The difference is, there is no judgment! Renting affords you a lot of flexibility, and your rent usually affords you a much nicer house and better location than your mortgage can. Want to travel? Have a 2nd or 3rd child? Live near a good school? Not commute so much? Renting really isn’t a poor option if you consider that you’re not wasting your money, you are buying yourself time and stress-free years. Would you rather leave bricks or a great childhood to your kids? Plus a 40 years mortgage is definitely not a guaranteed investment, especially when all taxes and fees are taken into account. I hope this helps put some perspective on the issue. Whatever you do, do it because it works for you, not because newspapers and TV shows would have you believe there’s no other option! Xxx

  10. 19/01/2017 / 8:08 pm

    This is so funny, I feel like a lot of people have it easy my age (22) a lot of my friends are buying houses. I think its so hard, I am so ready to buy, mentally anyway not financially. Me and my boyfriend are moving back in with my mum new month out of a rented house to save for a mortgage. However a lot of people I know are questioning me moving back in with my parents. Wondering why I can’t save whilst renting, fortunately for these people they have been very lucky and their parents have given them money towards a deposit. Its really hard to save, Its also a huge amount of money!
    This post has helped me loads, Thank you
    Jade xx

  11. Kay
    25/01/2017 / 9:15 pm

    Dont ever feel like you HAVE to get on the property ladder until you are good and ready. It is the biggest financial commitment you will ever make unless you buy outright.

    I’m 30 and buying a house is nothing but a pipe dream. Sure it would be nice, but its my landlord who had to fork out £800 when the boiler goes, not us. If my mum didnt live over 100 miles away I would totally move in with her to save up a deposit. We are saving for our wedding at the moment, financially we can’t save for a wedding and a house!

    Pay no attention to what others are doing. Keep focused on what feels right for you & your husband. Sounds like you have supportive people around you so keep them close x

    Kay | diaryofa30something.com

  12. 27/02/2017 / 1:08 pm

    I’m only in my first year of uni and living in student accommodation, but i’m already starting to put money away as i know it’s going to be so difficult to get on the property ladder and pay a deposit! My mum lives about 75 miles from my uni and where i want to live permanently and although i loved living with her, i wouldn’t wan to move back to my home town! It definitely puts a ridiculous amount of pressure on young people, especially if you have no one to help you out financially