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It
is quite odd. In my small street there are six people I went primary
school with, who all went away to university, and who have now all
returned home and are living with their parents.
While
I feel bad about my housing dilemma, when I see my childhood school
friends in a similar situation I realise that this housing problem
is really affecting everyone my age.
I would
love to move out of my parent's house, and surprisingly they are
quite keen to see the back of me as well. But we both know that
in the current climate this cannot happen easily.
My
sister was very lucky. She was in a position a few years back to
buy a small flat in our village for about £80k. She lived
there for 18 months and sold it making over £30k profit which
she was able to reinvest in a small house also in the village.
While
her mortgage is huge, she is at least well on the ladder and past
the first hurdle of the flat to house move.
I've
not been so lucky. Due to the debts I brought back with me from
university, I have never been in a position to properly save for
a deposit.
This,
coupled with the mammoth increase in all property in the area, leaves
me facing the prospect of turning into Timothy from the eighties
sitcom Sorry.
We
recently had a former mental health facility in the village turned
into a posh housing estate. The main ward was converted into luxury
flats.
I
went along with my parents to have look and was very impressed,
until I found out the price.
One
bedroom flats started at £300k, rising to £500k for
three bedroom flats, meaning that they were well out of my league.
I've
since heard a rumour that nine Premiership football players have
bought property in the development, further proving that they are
over paid and my situation is not getting better!
It
can get quite depressing at times. When I see a For Sale sign one
day and Sold sign the next, property just isn't available for long.
This
obviously shows a strong healthy housing market, but I'm constantly
aware that the people buying property in the area aren't local,
instead they are moving out of London.
They
have more money than me and actually see our village as a cheap
investment. Well, it may be for them but for me the situation just
gets worse.
Villages
in picturesque places in the country like the Cotswolds, have seen
an influx of outsiders snapping up the property, leaving the locals
struggling to live in their communities.
I
never expected that to happen to me. But as far as I can see, London
Colney has such fantastic transport links, that commuters are flocking
in, but locals are being forced out.
This
is being made worse by people buying to let. This may increase their
property portfolios, but it leaves me and my friends caught in a
trap, with little or no sign of improvement.
I've
even looked into alternative housing. While mobile homes were an
affordable option, even they are starting to go up in price.
My
dream move for a while was to a houseboat on the Grand Union Canal,
but while I could just about afford the boat, the mooring fees were
very expensive and I didn't really want to become a water gypsy,
moving place every week.
Realistically,
I've got to get out soon, but the recent hiatus in the housing market
scares me and I'm left wondering what I can really do?
My
options are limited but with a number of friends in a similar situation
we could all club together and buy a property.
I
already know two sets of friends who have done this and it appears
to be working well for them.
But
the property would have to be suitable for all concerned and that's
even before you get into how we can raise the capital!
The
pitfalls appear to be endless, but I realise this may be my only
chance to get on the property ladder.
Read
other case studies >>
Have
you had problems getting on the property ladder?
Have
you just got on it? If so, how did you manage it?
Do
you want to upgrade but will have to move away from the area to
do so?
Tell
us your experiences using the form below.
| Angela
Wooton, Hemel Hempstead |
Thursday,
21-Jul-2005 11:12:27 BST |
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| I
really sympathise with all first time buyers struggling to
get on the ladder. I'm in my mid 20's and had planned to move
in with my boyfriend after over 3 years together however sadly
we split up. I decided that now was as good a time as any
to look into trying to get a place of my own and approached
a financial adviser. After much head-scratching, we agreed
that my only chance to stay in Hemel Hempstead, my home town
for the last 25 years, was to look into shared ownership.
The following morning, having looked on a search engine, I
came across yourhomefinder.co.uk., an organisation that holds
details of re-sale shared ownership properties. Once registered
(approx £20), I found two 1 bedroom flats in Hemel Hempstead,
established if I could afford the mortgage/rent/service charge
combination and requested viewings of them both. Now, 4 months
on and although it's take! n longer than I expected, I get
the keys to my own flat next Friday - I can't wait! My advice
to anybody trying to get on the ladder is be persistent, contact
all housing associations and local authorities in the areas
you are interested in and keep your fingers crossed. It is
possible and although it is going to be very expensive, it's
never going to get any cheaper - good luck! |
| Charlotte,
London Colney |
Sunday,
26-Jun-2005 15:10:07 BST |
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| When
growing up my parents were obsessed with bringing me up to
be a well rounded human being, so here I am that person they
always dreamed of, i got myself a perfect education a well
respected job i bought myself a car, but here i am the last
hurdle facing me ...property, no chance ! when approaching
a mortgage advisor i was informed i was entitled to 65k and
sheds just dont interest me!although i realise I am not the
only one facing this problem this does not make it any easier,
to my delight i recently picked up the local paper and saw
the headline affordable housing! when reading further i discovered
the starting prices were 169k for a 1 bed flat whats affordable
about that? I am also faced with the dilemma that due to work
I can not move too far and frankly why should I ? I was born
here and i want my kids to be brought up here aswell this
situation is ever rapidly growing out of control and something
needs to happen fast... |
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