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'Adult launch' with your own place
Former Member
Posts: 1,876,323 The Mix Honorary Guru
Many young adults have recently moved out the family home or as they get older, contemplating the move. With property prices sky-high and rent being expensive in many places, how do we go about it? Some are lucky to have parents help putting together a deposit for a home of their own. Others may decide to have a shared tenancy with friends. Then there's the first experience of living out at uni doing a degree. Naturally, adult children crave for independence. The good feeling of increased space and making decisions without parents being above.
Do you remember when you 'launched' out the parental home and moved into your own place or shared accomodation? And if you're thinking of how to go about it- what are the options?
Do you remember when you 'launched' out the parental home and moved into your own place or shared accomodation? And if you're thinking of how to go about it- what are the options?
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To be honest most people i know have had older boyfriends who have been able to buy a house/flat and then they have moved in with them. Or people have moved out in couples into rented accomodation and then bought as a pair a few years further on. If your in a couple it makes a big difference as your much more likely to afford a one bedroomed flat on two salaries.
I know three sets of sisters and one brothers who have bought flats togeather - otherwise everyone else i know is still in rented accomodation and will remain there for the forseable future. I can't think of anyone i know who has been able to buy somewhere by themselves in the last 5 years...........
Edited to add that now i think about it i dont' know any girls who have bought on thier own either - just boys
ETA: to buy a house we're going to move to an even cheaper area to even stand a chance of being able to afford anything
So at 24 (5 years ago), I took the step to buy my own place on my own - put the deposit down and moved in.
I did live with my parents whilst we clubbed together to make it more livable in, but then I moved in there and that was that.
The hardest thing was deciding upon a mortgage deal. There were literally thousands.
But make sure you know your money inside out, what you earn and what goes where from your monthly wage. That way you can budget better.
I still live at home and my parents are quite happy for me to pay minimal rent so I can save for a deposit.
Haven't worked out the mailbox issue yet.
Just put a box outside your caravan and label it "mail" or just get it mailed to some nice relative or friend.
One of my friends is thinking of buying a canal boat cos its cheaper. About a year back, I did half-seriously suggest to my parents that I was planning on buying a caravan cos it'd be cheaper. My mum nearly had a fit
Old microwave? One the house boats in my town has one for a postbox.
Then I moved out and found some girl to split rent with. That place was already furnished since her and another girl had been living there about a year.
Then I moved in with the boyfriend who had his own house, fully furnished, for a couple years by then. I still don't own anything usefull if I ever went out on my own. Though I think the dustbuster is mine... and I'd definatly take it with, it would be my first house object I can barely understand how to rent a place, let alone the hassle of buying something. I'd never make it on my own. I am so helpless.
More the issue is having a fixed address for jobs / passports / you name it. But it is something I have seriously considered because house prices are just so expensive.
Look at it this way - if we weren't used to paying £600 a month or whatever people pay to rent, would they? Or would they say, that's nearly 1/2 of my income, fuck off I'm going to live somewhere else.
Somehow, all this speculation or whatever (I am no expert though) has pushed prices up ridiculously more than what they're actually 'worth'. Getting a loan over 25 years (or most of your working life) paying out as much as you can afford just to buy somewhere to live? Madness!
That went tits up and I left in Jan 2006. I moved in with some old friends and quit the factory job and started trying out different sales and admin jobs. I paid £100 per month rent and contributed towards the food as one of my friends actually owned it lock stock and barrel.
Had a major falling out with one of my friends and left in Nov 2006. I then half stayed in the council house of the guy I used to date and half stayed with my mum. By Jan 07 I was earning just over £12k.
Then in Jan this year I landed an admin job earning just over £14.5k and considered getting a mortgage but thought better of it due to the recession. In April this year I moved into a two-bedroomed apartment and am paying £575 plus bills, all by myself. I have completely furnished it myself using initiative and my hard earned cash.
I turned 22 in May and am just about keeping my head above water but for the first time in my life I owe money, on a credit card. I have also decided I do not want to do admin for the rest of my life and need to study and travel, but I cannot do this while I am in this situation.
Do I move back in with mum while I "find" myself? Or do I stay in the flat I worked so hard for and wait until I am earning more money? I am now seeing someone new who has offered to let me stay with him in London for no rent at all. But that's a crazy idea. I am enjoying my independence and that's a very big step to take.
It's so difficult for people to get their own little place nowadays, unless they're crack dealers.
or alternatively bite the bullet and move back in with your mum for 6 months whilst you save up and then go travelling - its definately worth it.
Christ - your take-home wage each month is £974.38 on £14.5k, and so I am guessing, with bills etc, your rent etc is around £700 a month?! That is FAR too much to be outlaying on your accommodation.
Personally, I would want to keep my independance, and so would look into the option of having somebody move into the second bedroom, which as Wyetry says, would half your outgoings.
ETA - I am genuinely surprised that somebody would allow you to let a place out for that amount by yourself, considering your income.
I am just about coping, it's not really that bad. It just means I don't have any money to save. The way I see it, this is the tightest money will ever be for me. As I get older I will earn more money and hopefully eventually get married, so that will halve bills. At least I have the deposit there if I need it and everything in the flat is my own if I wish to sell it.
My landlord did eventually enquire as to whether I could afford it but I persuaded my mother to tell him if I struggled she'd help me out.
Out of interest, why did you go for a two bedroom place by yourself?
Without being insulting, I'm not sure if you're brave or foolish for committing such a chunk of your income to your accommodation. If any large bill comes along, you're effectively up shit creek as you have nothing to fall back on. Sure you will probably earn more in the future, but with food, and virtually every other bill getting more expensive right now, you are going to have less and less margin for error.
It's just not a situation I would be comfortable with.