Buying a Home – Will we Ever be Homeowners?

Buying a Home : Ten years ago I was sixteen and my biggest worry was having enough pocket money to buy cigarettes and Lambrini on a Friday night. Fast forward a decade and I have much bigger fish to fry like getting on the god damn property ladder and buying a home!

Ten years ago I was sixteen and my biggest worry was having enough money to buy cigarettes and Lambrini on a Friday night. Fast forward a decade. While I may have a finer taste in wine it seems my anxieties have also matured. I no longer fret over wearing the same outfit twice – let’s face it an occasion to dress up arises so infrequently that I can get away with wearing the same outfit at least three times before anyone notices – and it isn’t an issue if I wear flip flops without painting my toenails. Oh no, now I’m a mother I have much bigger fish to fry like getting on the goddamn property ladder and buying a home!  

I’ve rented for what seems like forever and it’s never really been a problem. Some people feel it’s throwing their money away for me I’ve just been thankful for my own space. I left home quite young – just before my eighteenth birthday – and while it was my own choice it didn’t give me many options. Once you start paying rent it becomes increasingly difficult to save money. The less you manage to put aside the less chance you have of securing a mortgage. 

According to the English housing survey, in 2014-2015, the majority of first time buyers were twenty five to thirty four years of age. While this may be reassuring – at least I’m not the only twenty six year old to not own their own home – I still find the whole subject pretty daunting. The prospect of reaching thirty four and only just obtaining a mortgage terrifies me. I’m under no preconceptions that I’ll be retiring at sixty five – by the time I start getting a state pension I’ll probably be over seventy – but knowing you’ll be paying your mortgage into your sixties has to be a pretty bitter pill to swallow.

Back in the sixties homes cost on average £4,000. Fair enough the salaries were less (around £11,000) but buying a home still cost less than the average annual salary. Compare this to 2010/11 when annual incomes were just under £25,000 yet the average price of a house was over £210,000. That’s more than eight times the average annual salary! 

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I imagine our story is similar to many others. Stuck paying rent which would probably be the same if not less than our mortgage repayments, while struggling to save the money needed for our deposit. I’ve always hoped that one day we would own our own home but until Rory arrived it was never a major concern. While the house we rent is lovely, it will never be a home. As Rory grows we will never be able to paint his bedroom and we live with the dreaded insecurity that comes at the end of our contract.

Growing up Ryan lived in the same house all his life. His brother was born in that house and his parents still live there now. As much as it is only bricks and mortar, it is the family home. Hosting birthdays and Christmases, it’s a constant backdrop for family life. And it’s what I want.

The next couple of years will be difficult. Were on a strict time limit to buy before Rory starts school – the dreaded catchment areas! It’s going to be tough missing out on holidays and cutting back at Christmas but it’ll be worth it in the long run. Most days it feels a million miles away, like we’ll never reach our goal, but with perseverance I really hope we do.

In the meantime I’ll continue to pin all my hopes on the lottery and keep searching Rightmove for the dream home

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  1. April 24, 2017 / 6:17 am

    It’s so difficult. When we lived in London we lived in a shoebox for years to save for somewhere of our own! When we bouvier we could only afford a wreck and did all the work ourselves. So worth it in the end though! #marvmondays

  2. April 24, 2017 / 9:11 am

    This is an increasingly big problem for people. At the age of 43 I have long ago accepted that I will never be a home owner, but mt younger sibling is still trying to save for a deposit and pay rent and I know how frustrating it is for him. #bigpinklink

  3. April 24, 2017 / 11:31 am

    We almost gave up! But our realtor was awesome and found us something perfect in our price range…which was significantly lower than people think I should have spent on a house. Apparently everyone in my area thinks a giant home you have to clean is worth it. Um, no thanks. 2 people don’t need more than 1,200 sq. ft. because it’s just more floors for me to clean!

  4. April 24, 2017 / 12:02 pm

    It is really tough and I was lucky that I bought my first home (shared ownership) when I was 24 and while 95% mortgages were still available. I then met my now husband and he had his own house too so between us we were able to buy a house together. It is so hard though. Maybe look at shared ownership as a way of getting your foot on the ladder. Thanks for joining us for #marvmondays x

  5. April 24, 2017 / 12:09 pm

    I can relate to this so much as we’re in the exact same situation… We’re lucky that we live in a part of the country where house prices aren’t ridiculous (an intentional move for us), but we’re still really struggling on the house buying front. Like you, we’re tightening our belts, and whilst it is hard in these times, it is also important to still treat yourself now and again or it is just pure stress and money worry. Good luck with your house buying journey! #MarvMondays

  6. April 24, 2017 / 4:28 pm

    Its so hard to save for your dream future home. The stats you reported puts it into perspective that owning your own home in 2017 just isnt attainable unless bank of Mum and Dad help, or as you said, the lottery! I hope you manage to buy your own home, its a nice nestegg and legacy for our little ones.

  7. April 24, 2017 / 10:00 pm

    It is really hard and it’s such a shame that it’s so hard to buy a home too! We are home owners but could never have done it without my partners savings and little help from his parents! #MarvMondays

  8. April 25, 2017 / 8:28 am

    It is difficult. When hubby and I lived in London we were renting a tiny flat off my parents, but we had struggled to both get jobs. As soon as we did that was it I said to my husband that we need to buy a house out of London now and commute to work otherwise we probably will never get the option to. With help from parents we managed it, but without them, I think we would have struggled. I wish you all the luck and I hope something pops up soon. 🙂 x


  9. April 25, 2017 / 2:14 pm

    Good luck! I am also not a homeowner right now, but want to have that family house for my family and the future years. I wish it was easier to save up for a home. We actually save and save a lot, but still have a long ways to go before we can consider buying a home. #twinklytuesday

  10. April 25, 2017 / 8:26 pm

    I’ll be sending you lots of prayers and good vibes — we were in the same boat a few years ago and I agree… It sucks! I know it’s cliche, but just remember that home is wherever your family is — that perfect house (and opportunity to buy it) WILL present itself!

  11. April 26, 2017 / 5:27 am

    Good luck! We are not home owners at the moment, but hopefully one day! #TwinklyTuesday

  12. April 26, 2017 / 7:00 am

    Good luck, getting the keys to your first real home, one that you own, is an amazing experience, it will all be worth it x

  13. April 26, 2017 / 7:04 am

    Oh hun, I brought at 37 and only really because the pressure from my dad. I know it’s nice to have a home but it’s not the be all and end all. In many other countries renting is far more acceptable. Focus on saving, get yourself a financial advisor, you maybe able to do more than you think and the process is easier. We got cash back as first time buyers and made aware of some really good deals, that I had no idea of. I’d recommend Tulip Finance. And most importantly keep the integrity of how you operate as a person and family, this doesn’t change with a home. I know we all know it but in this world a home can go and you may have to leave. How much importance we give this comes from privilege and if we’re privileged enough fine but if we’re not we will still make a fantastic life for ourselves. #dreamteam

  14. April 26, 2017 / 12:28 pm

    It really is so difficult to try and save up enough to cover all of the fees to move and a hefty deposit when you’re already paying rent, and the pressure of school catchment deadlines doesn’t help does it? I used to be a mortgage advisor and there are a lot of new schemes that can help that might be worth looking into to reduce the deposit needed? Good luck lovely. It will absolutely be worth it, and thanks for linking to #DreamTeam x

  15. April 27, 2017 / 12:09 am

    It is really difficult to get onto the property ladder, especially living in cities. You will get there and it will be worth it. Keep saving and keep dreaming. Thank you for linking up x #bigpinklink

  16. April 28, 2017 / 4:45 pm

    If it’s any consolation I’m 36 and we’re still not homeowners! #marvmondays

  17. April 28, 2017 / 10:00 pm

    You will do it. Believe you will and you will! We just celebrated three years in our first house after renting for a few years together. We never ever thought we’d be able to buy a house but we did. Admittedly we now can’t afford to move because the house prices have gone up so much! Thanks for linking up with #TwinklyTuesday

  18. May 14, 2017 / 2:42 pm

    Getting on the property ladder in so difficult! As you say, the repayments aren’t really the issue, it’s raising the capital needed for a deposit. Good luck on your house buying journey, I hope you find your forever home! Thanks so much for sharing with #Blogstravaganza xx

  19. May 16, 2017 / 12:03 am

    Oi – my hopes are pinned on the lottery too, you can’t take that away from me!? Haha I was a homeowner of a small flat in Brighton as part of the shared ownership scheme. The house prices rocketed in the 2 years I owned it and I made a house deposit out of the few thousand I put in. However, I was then accidentally defrauded by my sister after selling the flat and now can’t get a mortgage because of my credit rating ? So I had a baby instead! Long story short, as other people said, it’s totally worth looking into some of the government-type schemes. It’s sometimes the long way round, but it can do the job. (Oh and I’m already thinking about catchment areas for my little one too!) #blogstravaganza

  20. May 26, 2017 / 8:04 am

    I spent so much time nodding while reading this. I think it’s easy for us to feel like we have failed because our parents had homes and mortgages at our age but we don’t… the truth is I’d say the vast majority of thirty years olds don’t have homes yet and I reckon it’s even more of an achievement when we do get them. Good luck!

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