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Many people want to live in close proximity to their family. There are good reasons for this (you have a support network). I want to move back closer to my fam
by extraisland 1y ago
Many people want to live in close proximity to their family. There are good reasons for this (you have a support network).
I want to move back closer to my family as they are getting older. I would like to move back so I can spend more time with my father as he is retiring this year. To afford a flat in Dorset it is 30,000 deposit. A deposits on a house would be about somewhere between £30,000-£100,000.
These aren't mansions BTW. These are normal 2-3 bed houses.
> But half of people earn less than the mean salar though. So what about those on minimum wage? Well, one person with a full time minimum wage job should be able to get a mortgage for close to £100k, so wouldn't be able to afford a £150k house on their own. They could scrape by and get a house close to £100k though. There are plenty of these. Again, two people on minimum wage should have no problem.
My two bed flat (that I got cheap) is £110,000 and I am in the North-West. I've not seen any houses up here that were worth buying less than £200,000.
You typically need a 15% deposit on a flat. I managed to go with some rando building society and get 10%.
Any houses that are £150,000 are always in horrible parts of town or they are complete dumps and need complete renovation.
If you are on a minimum wage (I spent 8 years on it) it is difficult to save money and when something like the boiler goes you are screwed.