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How do single people buy houses?

antimatterx · 2019-11-17 15:19:05

I'm 23, single and I currently live at home. I make 32K a year, have 10K saved, and I'm in the very fortunate position that I can save ~1500 a month. My parents are well off, and they would rather I save for a property, rather than pay them rent. (Although I do try and contribute - I buy food for the house when I'm out, I…

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17-11-2019 4:19pm

#1

antimatterx

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I'm 23, single and I currently live at home. I make 32K a year, have 10K saved, and I'm in the very fortunate position that I can save ~1500 a month. My parents are well off, and they would rather I save for a property, rather than pay them rent. (Although I do try and contribute - I buy food for the house when I'm out, I cover all the animals vet bills (quite a few this year), give my brothers money when they need it ect.)

I'm a software engineer, so I will be on near enough 50k in two years' time. If I can save 1K a month for the next 2 years, I will have a deposit of 34K + a mortgage amount of 175K. I will have 210K which is just short of me buying a 2-bed apartment in the same estate I currently live in (I love the area, as it has great transport links. It's not upper class, but it's not rough either).

It seems so hard to buy a place, I have no idea how people renting can manage?

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