How old were you when you bought your first house...

Banned 147 replies
Found 28th Oct 2010
.... and how much for?

.... and what year?

.... and what area (if that's not too personal)

Just interested because I'm speaking to more and more 35+ year olds who are renting and are a million miles away from having enough for the every increasing deposit requirements.

No hidden agenda, just very interested!

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age ...........19

price............£11,550

year........1983

2 bed terraced

area...............Nottingham



Edited by: "bitseylango" 28th Oct 2010

i was 24 yrs old
bought house in 1994 ( still here ) for £40,000
and i live on the Wirral

Edited by: "shopstilldrops" 28th Oct 2010

£40k in 2002 (when we were 21) in Staffordshire - sold it four years later for 108k

21 as a present for myself

Original Poster Banned

bitseylango

price............£11,550year........1983area...............Nottingham



That's amazing. 11k? Gee! That's really what I'm thinking.... if prices continue to rise, then a mortgage now for someone paying it off in 30 years time will be hardly anything right?

early 30s for £102k in Bristol, 3 bed semi

valued now £189k

still here and loving it

Original Poster Banned

shopstilldrops

i was 24 yrs old bought house in 1994 ( still here )and i live in the … i was 24 yrs old bought house in 1994 ( still here )and i live in the Wirral



Much mortgage left?

Doesn't everyones parents buy them their first house
Edited by: "Domthedonkey" 28th Oct 2010

i was 27 , it was 3 years ago ,3 bed, £120 000

Original Poster Banned

So as midlandscomics and choc1969 have mentioned, the capital increase is pretty huge.
If these people are still renting, probably not saving much apart from the deposit, then am I right in saying there is going to be a huge gap between the haves and the have nots?

Are we heading into a bit of a class war society?

Banned

£13,500

1999 (I was 24)

North Manchester

I was 18.
25k in 2003, yorkshire.

Sold it a year later for 49k which paid a nice deposit on my next home.

18-bought a one bed flat for 4.5k-lol-was an utter shell,but was fun doing it up.

my grandad bought a house for £170 and when he passed away my gran sold it for 950k! thats how times have changed!

23, £90'000, 2005, Milton Keynes.
Edited by: "hornblowerracing" 28th Oct 2010

JonnyTwoToes

Much mortgage left?




not much about £22,000 and property is valued at @ £170,000

DLM

£13,5001999 (I was 24)North Manchester



You're soooooooo gonna get ribbed for that now lol

Original Poster Banned

barky

18-bought a one bed flat for 4.5k-lol-was an utter shell,but was fun … 18-bought a one bed flat for 4.5k-lol-was an utter shell,but was fun doing it up.my grandad bought a house for £170 and when he passed away my gran sold it for 950k! thats how times have changed!



Now that's what you call capital gain!

JonnyTwoToes

So as midlandscomics and choc1969 have mentioned, the capital increase is … So as midlandscomics and choc1969 have mentioned, the capital increase is pretty huge.If these people are still renting, probably not saving much apart from the deposit, then am I right in saying there is going to be a huge gap between the haves and the have nots?Are we heading into a bit of a class war society?



Well, we bought it just before the prices started to shoot up - we'd doubled our money on it in about 2 years. The same houses now are probably worth about £130k.

Banned

deb8z

You're soooooooo gonna get ribbed for that now lol



Why?

Original Poster Banned

shopstilldrops

not much about £22,000 and property is valued at @ £170,000



All down to timing then. Nice one!
I don't think enough is being said for the change in these economic dynamics. We are still teaching the same thing, still advising people to save, but the whole issue of 'chance' in terms of timing isn't being looked at.

Edited by: "JonnyTwoToes" 28th Oct 2010

DLM

Why?



Coz of how cheap it was.

I was 26, it was last year. Cost £140k (£35k deposit) - East Midlands area - 3 bed semi

Best thing I did. Paid £500 rent in my last house (2 bedroom end terrace, no garden, no drive, small rooms), where we lived for 7 years. Mortgage isn't much more than that

whatsThePoint

you bought it 2 years ago before the house prices started going up ?I … you bought it 2 years ago before the house prices started going up ?I thought they had been going down for the last 2 years



lol, we bought it in 2002, and had doubled our money by 2004.

Original Poster Banned

midlandscomics

Well, we bought it just before the prices started to shoot up - we'd … Well, we bought it just before the prices started to shoot up - we'd doubled our money on it in about 2 years. The same houses now are probably worth about £130k.



Will house prices continue to rise at the same pace over the next 30 years? Was there ever a problem with people getting on the property ladder?

Banned

I do not, and have never, owned a house.

Original Poster Banned

sancho1983

I was 26, it was last year. Cost £140k (£35k deposit) - East Midlands a … I was 26, it was last year. Cost £140k (£35k deposit) - East Midlands area - 3 bed semiBest thing I did. Paid £500 rent in my last house (2 bedroom end terrace, no garden, no drive, small rooms), where we lived for 7 years. Mortgage isn't much more than that



Not Leicestershire at all? Nice area!

Banned

deb8z

Coz of how cheap it was.



My mortgage was £70 per month.

I only lived there for a year, I got bored of living in such a big house that needed a lot of work doing.

So I sold it for £24k and used the profit to pay off my debts and then I rented for a couple of year's.

Banned

vibeone

I do not, and have never, owned a house.



Lucky you x

Original Poster Banned

DLM

My mortgage was £70 per month.I only lived there for a year, I got bored … My mortgage was £70 per month.I only lived there for a year, I got bored of living in such a big house that needed a lot of work doing.So I sold it for £24k and used the profit to pay off my debts and then I rented for a couple of year's.



You don't have to defend paying £70 a month in mortgage DLM - you're the clever one!
It's people who work all hours god sends to pay £1000 mortgages that need their heads looking at (IMO)

21, 3 1/2 years ago for 135k...... And it's still worth less. Happy days

Original Poster Banned

whatsThePoint

bought mine in my 30's about 12 years ago for £15k no interest to pay so … bought mine in my 30's about 12 years ago for £15k no interest to pay so thats the total price i paidsold 2 years ago for £120k



Deal of the century! I somehow wish I was born ten years earlier!

Original Poster Banned

gbspurs

21, 3 1/2 years ago for 135k...... And it's still worth less. Happy days



No matter - 21 is very young to be getting on the property ladder You did well!

Where did you buy a house 12 years ago that was only worth 15 grand and then sold for 120 ?

Banned

JonnyTwoToes

You don't have to defend paying £70 a month in mortgage DLM - you're the … You don't have to defend paying £70 a month in mortgage DLM - you're the clever one!It's people who work all hours god sends to pay £1000 mortgages that need their heads looking at (IMO)



I pay £250 per month now and owe £40k.

I want to be mortgage free when I am 45 year's old.

looks like none of you live in London then lol.

Still live at home trying to save save save lol

Banned

numptyj

looks like none of you live in London then lol.Still live at home trying … looks like none of you live in London then lol.Still live at home trying to save save save lol



Get shacked up with a member on here (_;)

JonnyTwoToes

All down to timing then. Nice one!I don't think enough is being said for … All down to timing then. Nice one!I don't think enough is being said for the change in these economic dynamics. We are still teaching the same thing, still advising people to save, but the whole issue of 'chance' in terms of timing isn't being looked at.



I guess so ! but wasnt intentional, have thought of moving but with having the kids and the thought of the upheavel etc weve give it a miss for now , , we have a reasonable sized house , kids all have there own bedrooms etc , so for now we are thinking 'if it dont need fixing !!! ' ...........on the renting side of things ''how the hell do people do it !!!'' neighbours of ours pay over 3 times more than our mortgage a month oO.......all dead money too !

No matter - 21 is very young to be getting on the property ladder You did well!
------------

Yeah true but I'm failing to see the benefit of being on the property ladder at present!

Original Poster Banned

bitseylango

I do wonder if my children will ever be able to afford to buy. Starter … I do wonder if my children will ever be able to afford to buy. Starter homes ( not flats) in a decentish area here are around £120,000. We will probably downsize once they have all left home.



To free up some cash for them?

DLM

Get shacked up with a member on here (_;)



so DLM...how are you xx
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