I am a Londoner in my twenties. You would think from radio, tv and films that would mean when out and about at the weekend I would be talking about men, bars, fashion... those kind of sexy, rock n roll things. I do talk about those subjects but because this is London and England I'm afraid the conversations still somehow turn to property- as if we were out parents!
There are times when I am happy to talk about flats, houses, buying, renting and so on but there are times when it really can be quite awkward in a social situation. I'm afraid I think the property topic is a little like religion or politics, best kept away from the dinner table or bar stools.
The topic inevitably throws up differences in people but unlike religion or politics they tend to be differences we can't help.
Religion or politics are at least a choice we make. We can't necessarily choose whether we can afford to rent or buy, or indeed whether we can afford a house or a flat, or certain postcodes.
I am very lucky to even be able to look for properties. Most of the people I meet who are fortunate and are able to have houses or flats bought for them are very grateful and know they are lucky. However it doesn't seem to stop them saying things like people are stupid because they rent or to buy in a certain area. While I don't mind for myself so much(although if anyone would like to give me half a million pounds I would be most grateful!) but it can throw up quite an awkward feeling around the dinner table.
Equally it can throw up quite an awkward feeling if these things aren't mentioned, if someone just says oh I am buying a house in x and you can see everyone wondering how but not wanting to ask- and the purchaser being embarrassed to say.
So I think the three topics to possibly avoid at dinner parties are religion, politics and property.
Sunday, 25 January 2009
Friday, 23 January 2009
Save or splurge?
So as January has crept on it has become clearer to me that the savings for my deposit are earning less and less while I don't buy a flat.
It seems the government would like the situation to be that we may as well spend...
I am equally increasingly concerned, like everyone else, about the economy. As time goes on I'm worrying more about finding myself tied into paying for a home that is worth far less than I bought it for and having less savings to fall back on if I needed them.
So I suppose I am asking myself if I trust the idea of there being nowhere as safe for my money as houses (or flats in my case).
This trepidation has caused a massive episode of procrastination on my part which I finally broke this morning e-mailing three agents asking for details on new properties.
I feel like I have to press on with looking but I can't deny a certain fear, which is different to the fear I always had of so much debt.
It seems the government would like the situation to be that we may as well spend...
I am equally increasingly concerned, like everyone else, about the economy. As time goes on I'm worrying more about finding myself tied into paying for a home that is worth far less than I bought it for and having less savings to fall back on if I needed them.
So I suppose I am asking myself if I trust the idea of there being nowhere as safe for my money as houses (or flats in my case).
This trepidation has caused a massive episode of procrastination on my part which I finally broke this morning e-mailing three agents asking for details on new properties.
I feel like I have to press on with looking but I can't deny a certain fear, which is different to the fear I always had of so much debt.
Sunday, 4 January 2009
2009: The first post (in which our heroine resumes her search)
Happy New Year!
For various reasons, including family issues, workload, sloth and the state of the economy the big property search was called off in December.
Having had a little time over Christmas I have decided that I do definitely want to keep looking for my own home. This wasn't a decision I reached all that easily. I know it must always feel like a risk to take the plunge into home ownership but at the moment it feels like jumping into wild waters rather than just the deep end.
Thinking it over though I am still frustrated by the idea of all my belongings and I suppose my like always being in a temporary home. Although I want to have a beautiful space to live in and look over interiors catalogues as much as the next person what I really want is a place to lay my hat that I can paint whatever colour I want and not worry about breaking the shower.
With that though comes worries, you are more dependant than ever on the job market, it will remove stress on the one hand but create stress on the other.
How much longer can I delay though. I guess there is never a good time and the time feels like now.
That said I still both want and need a bargain to be able to make this work and I want estate agents to understand that.
For various reasons, including family issues, workload, sloth and the state of the economy the big property search was called off in December.
Having had a little time over Christmas I have decided that I do definitely want to keep looking for my own home. This wasn't a decision I reached all that easily. I know it must always feel like a risk to take the plunge into home ownership but at the moment it feels like jumping into wild waters rather than just the deep end.
Thinking it over though I am still frustrated by the idea of all my belongings and I suppose my like always being in a temporary home. Although I want to have a beautiful space to live in and look over interiors catalogues as much as the next person what I really want is a place to lay my hat that I can paint whatever colour I want and not worry about breaking the shower.
With that though comes worries, you are more dependant than ever on the job market, it will remove stress on the one hand but create stress on the other.
How much longer can I delay though. I guess there is never a good time and the time feels like now.
That said I still both want and need a bargain to be able to make this work and I want estate agents to understand that.
Monday, 1 December 2008
How's your search life?
This weekend I have spoken to various people who wanted to know how my property search was going.
As I updated the tenth person I realised that property searches are like sex in Britain; people who aren't on a property search want to hear every morsel of information about your search life so they can live vicariously through you- in much the way people who either aren't having sex or aren't having interesting sex want to hear about other people's life between the sheets (or further afield).
I think it's also quite possible that our own peculiar obsession means the metaphor extends to us all thinking we're not having enough search and resenting it deeply. Do couples lie in bed silently at night worrying the other partner thinks not only are they not having enough sex but they certainly aren't having enough search at the moment? Do they each worry that one of them might stray away because they don't have that vital second or third investment property? Or that he/ she might lose interest because they don't have a project on the go?
Well I am happy to report that my search life is fine. I am a little disinterested at the moment but I suspect if the right property came up it might turn my head.
As I updated the tenth person I realised that property searches are like sex in Britain; people who aren't on a property search want to hear every morsel of information about your search life so they can live vicariously through you- in much the way people who either aren't having sex or aren't having interesting sex want to hear about other people's life between the sheets (or further afield).
I think it's also quite possible that our own peculiar obsession means the metaphor extends to us all thinking we're not having enough search and resenting it deeply. Do couples lie in bed silently at night worrying the other partner thinks not only are they not having enough sex but they certainly aren't having enough search at the moment? Do they each worry that one of them might stray away because they don't have that vital second or third investment property? Or that he/ she might lose interest because they don't have a project on the go?
Well I am happy to report that my search life is fine. I am a little disinterested at the moment but I suspect if the right property came up it might turn my head.
Thursday, 27 November 2008
Property prices tumble apparently
I loved this headline in The Times today Property prices tumble as reality sets in.
I really wish someone would tell estate agents this! They imply to me an offer of around five per cent off would be acceptable and I was actually laughed at about offering any less this week. There was proper wincing and giggling.
I really wish someone would tell estate agents this! They imply to me an offer of around five per cent off would be acceptable and I was actually laughed at about offering any less this week. There was proper wincing and giggling.
Tuesday, 25 November 2008
Standing on your own two feet
It's still true to say that at 27 I have only one close friend who bought their own property without help from their parents/ grandparents or their partners family. That person works in banking.
I fully understand family who can help their children to have a roof over their heads and not be mortgaged to the hilt wanting to do so and don't have an issue with it.
(I do have quite a serious issue with those lucky people who have had help either bragging about how well they have done to get themselves on the property ladder and/ or talking about how stupid people are for renting but that is another issue! and parents who think the children you helped don't do that, think again I promise you they really do)
No my point is that really it's quite scandalous that these people, mostly couples, so two income mortgage applicants, all graduates, all with well paid jobs- all of these people basically could not have bought their one and two bedroom flats without very serious cash injections. These aren't all people who live in South West London or Islington either, they are out in Surrey (not prime Surrey), out in zone 5 or 6, all sorts of areas. Sure I'm sure they could all have saved better if Mummy and Daddy hadn't stumped up 100k but equally to be fair none of them are designer clad money wasters at all. It's just that they couldn't have bought without the help and where does that leave the people without help.
I am realistic and know that some people always got a measure of help to get on the property ladder but really did they have to get the value of a house in Sheffield plus a huge mortgage in the past. Probably not.
Now prices are falling a little it's true but the mortgage companies have gone so far the other way with their lending that ironically it's now even more important to have a very hefty deposit and in a way people who don't have access to a cash lump sum are worse off than they were before.
I have thought quite a lot (quite a lot!) about what I would do if I was given a lump sum I hadn't worked for. For sure I would take it very gladly and happily. Would I feel as much of a sense of worth about looking at places with that extra money? probably not. Would I care that I had lost that sense of worth? Probably not!
But really it's wrong that people are missing out on the feeling of being a grown up and having to ask Mum and Dad for a new flat isn't so different to being 12 and wanting the latest trainers. It's totally out of control if they will say yes or not and you feel powerless.
I fully understand family who can help their children to have a roof over their heads and not be mortgaged to the hilt wanting to do so and don't have an issue with it.
(I do have quite a serious issue with those lucky people who have had help either bragging about how well they have done to get themselves on the property ladder and/ or talking about how stupid people are for renting but that is another issue! and parents who think the children you helped don't do that, think again I promise you they really do)
No my point is that really it's quite scandalous that these people, mostly couples, so two income mortgage applicants, all graduates, all with well paid jobs- all of these people basically could not have bought their one and two bedroom flats without very serious cash injections. These aren't all people who live in South West London or Islington either, they are out in Surrey (not prime Surrey), out in zone 5 or 6, all sorts of areas. Sure I'm sure they could all have saved better if Mummy and Daddy hadn't stumped up 100k but equally to be fair none of them are designer clad money wasters at all. It's just that they couldn't have bought without the help and where does that leave the people without help.
I am realistic and know that some people always got a measure of help to get on the property ladder but really did they have to get the value of a house in Sheffield plus a huge mortgage in the past. Probably not.
Now prices are falling a little it's true but the mortgage companies have gone so far the other way with their lending that ironically it's now even more important to have a very hefty deposit and in a way people who don't have access to a cash lump sum are worse off than they were before.
I have thought quite a lot (quite a lot!) about what I would do if I was given a lump sum I hadn't worked for. For sure I would take it very gladly and happily. Would I feel as much of a sense of worth about looking at places with that extra money? probably not. Would I care that I had lost that sense of worth? Probably not!
But really it's wrong that people are missing out on the feeling of being a grown up and having to ask Mum and Dad for a new flat isn't so different to being 12 and wanting the latest trainers. It's totally out of control if they will say yes or not and you feel powerless.
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