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I've
recently turned 30 and started to put my life into perspective,
trying to work out exactly how I can move on and improve it.
At
the moment I'm living back at my parent's house, paying rent and
trying to cause as few problems as possible!
I have
experienced living well away from the family home, as I've rented
and shared houses all over London. But in recent years this became
very expensive, and with the unpredictable nature of my job I couldn't
justify the huge outlay on rent, so moved back to my parent's house.
I work
in the film industry which is to outsiders
is well paid and glamorous, but in reality it is long hard days
on short term contracts. This makes getting a mortgage a bit more
difficult than your average salary man, but provides me with the
freedom to travel when necessary.
Panic
I travelled with my brother to Australia and really loved it. Over
there you can buy a huge house with acres of land for about £100K.
But when you consider I couldn't buy a pokey flat for that money
in London Colney, I start to panic slightly.
I'm
back working at the moment, which will provide me with a nice short
term windfall, but when I think about getting on the property ladder
my blood runs cold. It is going to take a huge commitment just to
make that first step.
We
are constantly getting told in the media that now is the time to
jump on the ladder, but then next week the headlines say the boom
is over. This just leaves me confused and worried about getting
caught in the horrible trap of negative equity.
Hospitable
I know a time will come where my parents will want their house back,
and for me and my brother to fly the nest. I just hope that when
the day arrives the housing market will be a bit more hospitable.
I just
can't understand how some people do it - burdening themselves with
massive mortgages on properties that really don't look worth it.
I think the only way I'm going to be able to do it is to either
share the risk with someone else or try and get on a Housing Association
list.
But
as I'm not a key worker this is going to be difficult as well. I
wish there was a simple solution but I know there isn't, I'm going
to have to bite the bullet and get on the property ladder.
Read
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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.
| Rachel,
Norwich |
Tuesday,
28-Sep-2004 18:45:22 BST |
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| I
was worried about being able to afford a house. A few years
ago I could have afforded a house or two bedroom flat by myself
(prices in Norwich are considerably less than they are elsewhere).
But this year I realised I would either have to buy a bedsit
or a one bedroom flat. That wasn't ideal because I was concerned
about the rising interest rates. So what did I do? I bought
a house with my brother. I live in it and he has an investment.
Perfect. I'd recommend it more than buying with friends. All
you have to do is make sure you agree on how long you want the
house for (ours is a long term investment) and that you agree
on how you split the mortgage payments. The rest is easy. |
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