It seems that trying to get on the property ladder nowadays is so difficult. Plenty of my friends are still renting as they just can’t afford to save up a deposit and buy. We are in the same situation, trying to get debt free before focusing on saving as we can’t afford to do both. As we are paying things off at a fast pace now, we have been looking into different options available to first time buyers such as shared ownership or rent to buy. Steve has owned a house before (inherited it) but he has never bought one so this is brand new territory for us.
My brother has shared ownership and has talked about the benefits of it, as has one of my school mum friends. Renting in the tiny little village we live in costs an arm and a leg but we need to stay here due to Jack’s schooling. However we are always looking up other properties in the area to see if we can make some changes.
It has been quite stressful over the years, trying to get on the property ladder. We’ve been so close and yet so far at the same time and whilst it looks like Steve’s dream of owning his own home before 30 isn’t going to come to fruition (he’s just turned 29), we are hoping that just possibly we might be able to manage it before I turn 30, a good 3 years 11 months away.
We have so much we need to consider when buying a property as we need it to be perfect if we are going to be in it for a long time – the right amount of bedrooms, enough space, a garden. This is why shared ownership and rent to buy are appealing to us as they may help us get on the property ladder sooner rather than later.
Have you found it hard to get on the property ladder? Do you remember buying your first home?
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