buy my own place

i am renting a single condo unit for more than a year now. it has always been my dream to buy a house that i can call mine.

Since I’m currently in graduate school and nearly all of my money goes towards that, I probably won’t be able to buy a place of my own until I graduate. I am still saving specifically for this goal, though. When I do purchase a place of my own, I want to make sure I can afford something and it most likely it will be in the lower end of my budget. I’d be very happy with a condo, but would like a townhouse if possible. A lot of factors will influence this.

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.

Well it’s all been kicking off, the outlook seems to be more uncertain than ever. Been keeping my eye out for bargains but nothing outstanding yet, doing well on the savings front which I think is all I can do at the moment. I’ll stay perched on the fence with everyone else for now to see what happens.

I’m still in college. Working full time. Living at my parents house still.

It’s not horrible and I’m not completely embarrassed or anything.

But I’m really starting to want to live on my own in my own way. Like anyone, I’m quite particular about certain things. I want to buy my own food and keep it properly, and not have it eaten by fellow residents. I want to clean my bathroom or my kitchen and not have it ruined the next day. I won’t go on like this, but the fact is I want to live the way I want to live. I have not yet had the experience of living on my own, or really completely out of the house without a roommate or significant other.

I need to do that. I have to. I’m getting old and should get out and live on my own.

Oh and I’m extremely anti-renting. So I need to save enough money to buy a townhouse or a studio loft or a condo or something small. I also want to do it independently, so I won’t be asking any friends or family to move with me.

It’s a rite of passage thing, and a crucial step at this point in my life.

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???

Currently in the process of surveying a new 2 bed apartment, which will be our first love nest! x

Been saving a deposit for a bit now could probably stretch to a crap shack somewhere and try and live off 50 quid a month but think I will wait and see, doubt prices will be going up any time soon so no rush just now.

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.

My own home will be somewhere with character and somewhere that is safe and comfortable. Somewhere that has lots of creative space and reflects who I am.