buy my own place

I’ve been saving well but because of the current economic situation feel like the goal posts keep moving. House prices are going down, but to get a mortgage I will probably need a bigger deposit.

As much as I want to live on my own, I still have a fear if taking the leap and actually getting a mortgage. I think I need to work on my confidence as much as I do on my financial situation. I really need to tackle this. At least I am serious about saving now, and I keep looking at the property pages in the local paper. My next step is to go and speak to financial advisor about how much I could borrow.

Since my last entry I have been pretty good about saving. I am one month behind because I had car insurance, car repairs and dental bills all to pay at once. I’m going to try to make that up over the next couple of months.
I’m not sure how it’s all going to pan out – there is so much uncertainty about the housing market at the moment. Prices may be going down, but it will be harder to get a mortgage.
I really want to have my own place. Trying to stick it out where I am renting at the moment as it fairly reasonable so I can save more. Sometimes the state of this place gets me down though.
I now think my aim of getting a place by the end of 2008 was a bit over ambitious, as I think I’ll need a 10% deposit. But perhaps I can aim for the first half of 2009???

I have lovely flat mates – but the older I get the more I feel the need for my own space. I’d like to get a place in 2008.

First step is to manage my finances better. I’m tracking my spending and want to come up with a savings plan.

I need to talk to the bank and get a realistic idea of how much I can borrow.

I’m keeping an eye on what is for sale. I want to get an idea of what I like and what I can afford.