3 ms·

It just depends on WHERE you try to buy property. Yes of course it's going to be hard to buy a house in a popular area because you are competing with lots of ri

by Dig1t 3y ago

It just depends on WHERE you try to buy property. Yes of course it's going to be hard to buy a house in a popular area because you are competing with lots of rich people who also want to live there. But there are still tons of places with extremely cheap land in the developed world. Judging by your use of the word "mum" I'd guess you're in the UK. And yes, things are way harder in the UK since people get paid way less than America, the government takes way more from you in taxes, and the cost of basic things like food are higher. But I think you could still do what your mom is suggesting in some places in the UK. I can find plenty of starter homes in Scotland for 80k pounds for example. I just think it's silly to expect houses to be cheap exactly where you want to live, because odds are tons of people also want to live there too and you have to compete with them. But if you are willing to be flexible, there is still plenty of space for the next generation to own property.

mmarq 3y ago
You can find houses for 30K in Liverpool, because the UK outside of London is poorer than a random Eastern European country (which is one of the many reasons why Eastern Europeans are running away from the UK). How much do you think you are going to make in a place such as Scotland or northern England?
- Dig1t 3y ago
  >UK outside of London is poorer than a random Eastern European country Yeah that's true, I think a lot of people in the US don't understand this at all. Everything British seems fancy and expensive, and we assume they all live like Londoners. But you are right that wages are not going to be great in Scotland or northern England. But a great strategy that works well in the US, and I suspect would work well in the UK, is to just spend a few years living as cheaply as possible in a big city like London. Hoard as much money as possible, then take that and buy a house in a cheaper area. In the US it is possible to live in a place like San Francisco for a few years, and if you live with roommates and don't fall for all the trappings that Californians go for (like ordering DoorDash every day or buying Teslas), you can easily save enough to buy a house for cash in a cheaper area. This strategy even works for tradespeople like plumbers/carpenters. Once you own a house outright, most other things are relatively cheap living on local wages and you can live any kind of life you want.
  - truckerbill 3y ago
    There's no hoarding or saving. The wage/rent ratio is insanely skewed. This isn't a 'be smart' situation it's a 'something has to change before the bottom falls out' situation.
    - Dig1t 3y ago
      I did this in the Bay Area (one of the most expensive areas in the world to live). I lived with 5 roommates in a house. It wasn't the most comfortable, but it wasn't horrible either. The fact that there were 5 of us in one house meant we got the rent down to a very reasonable amount. I lived like this for many years and was able to save enough to buy a house for cash in a cheaper state. Anyone can do this same strategy, it works well. Maybe they won't earn enough to buy an _entire_ house somewhere else, but they can earn enough to afford a large portion of one. Aiming for a world where anyone can live wherever they want for peanuts is just not a realistic concept. Even when you build densely like in New York City, there will always be droves of people competing for the space in whatever system you build.

by Dig1t 3y ago

mmarq 3y ago

You can find houses for 30K in Liverpool, because the UK outside of London is poorer than a random Eastern European country (which is one of the many reasons why Eastern Europeans are running away from the UK). How much do you think you are going to make in a place such as Scotland or northern England?

Dig1t 3y ago
>UK outside of London is poorer than a random Eastern European country Yeah that's true, I think a lot of people in the US don't understand this at all. Everything British seems fancy and expensive, and we assume they all live like Londoners. But you are right that wages are not going to be great in Scotland or northern England. But a great strategy that works well in the US, and I suspect would work well in the UK, is to just spend a few years living as cheaply as possible in a big city like London. Hoard as much money as possible, then take that and buy a house in a cheaper area. In the US it is possible to live in a place like San Francisco for a few years, and if you live with roommates and don't fall for all the trappings that Californians go for (like ordering DoorDash every day or buying Teslas), you can easily save enough to buy a house for cash in a cheaper area. This strategy even works for tradespeople like plumbers/carpenters. Once you own a house outright, most other things are relatively cheap living on local wages and you can live any kind of life you want.
- truckerbill 3y ago
  There's no hoarding or saving. The wage/rent ratio is insanely skewed. This isn't a 'be smart' situation it's a 'something has to change before the bottom falls out' situation.
  - Dig1t 3y ago
    I did this in the Bay Area (one of the most expensive areas in the world to live). I lived with 5 roommates in a house. It wasn't the most comfortable, but it wasn't horrible either. The fact that there were 5 of us in one house meant we got the rent down to a very reasonable amount. I lived like this for many years and was able to save enough to buy a house for cash in a cheaper state. Anyone can do this same strategy, it works well. Maybe they won't earn enough to buy an _entire_ house somewhere else, but they can earn enough to afford a large portion of one. Aiming for a world where anyone can live wherever they want for peanuts is just not a realistic concept. Even when you build densely like in New York City, there will always be droves of people competing for the space in whatever system you build.