Property News · June 17, 2017

Buying my own place was an impossible dream – here’s how it came true


Shared ownership? Buying with a friend? Long commute? For Generation Rent, the options aren’t easy, but it can be doneIf someone had told me at the start of last year that I’d be living in – scratch that – owning a two-bedroom loft apartment with a suntrap of a terrace, I’d have rolled my cynical eyes. As a Generation Rent 34-year-old millennial living in London and working as a freelance journalist on a modest income, buying my own place always felt like an impossible dream.For starters, the average deposit for first-time buyers in London has jumped 276% in the past decade to a staggering £100,445, according to the Halifax. I did explore shared ownership, but I found many of the schemes insanely competitive and only available to people on much higher salaries, while service charges were steep, culminating in mortgage repayments plus rent settling in at about £1,500 a month. Continue reading…

Source : theguardian.com
Read more…Buying my own place was an impossible dream – here’s how it came true

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