At what age did you move out of your parents home?

ha, you have it good, when i was your age i was earning £25 a week on a YTS(yes i am that old):eek: :D and i had to give my parents £15 aweek, and buy my mum some flowers once a month :(

when i was young i had to walk 20 miles to pit, and another 20 miles back, everyday, uphill both ways, in the snow everyday, and we couldn't afford shoes in them days, and we had to share the one set of clothes between me and my eight brothers. and i had to carry two bags of coal with me, and spend my evenings cleaning chimneys just to make ends meet. kids today don't know they are alive!
 
when i was young i had to walk 20 miles to pit, and another 20 miles back, everyday, uphill both ways, in the snow everyday, and we couldn't afford shoes in them days, and we had to share the one set of clothes between me and my eight brothers. and i had to carry two bags of coal with me, and spend my evenings cleaning chimneys just to make ends meet. kids today don't know they are alive!
Did you make that up, or is that the truth? :eek:
 
when i was young i had to walk 20 miles to pit, and another 20 miles back, everyday, uphill both ways, in the snow everyday, and we couldn't afford shoes in them days, and we had to share the one set of clothes between me and my eight brothers. and i had to carry two bags of coal with me, and spend my evenings cleaning chimneys just to make ends meet. kids today don't know they are alive!

Ahhhhhhh...the goold old days....so many fond memories..thanks for bringing it all back.....though I would have gladly traded the bags off coal for the cow I had to carry to the market......:thumbsup:
 
I'm 22 and have no plans to leave home at any time in the foreseeable future. Given that even in crappy old Hull £100k will get you very little these days, buying my own property strikes me as financial suicide.

I mean, the current price for a small and decrepit 100 year old terraced house in Hull would have got you a brand new 4 bedroom detached house in nearby, and superior, Beverley as little as nine years ago. Even the smallest of flats cost around £70-80k.

If and when the house price absurdity ends I will consider getting a mortgage on one.

I really don't follow your logic! How can buying into property become finacial suicide? It's closer to the opposite in reality...

My bro bough his place just over a year ago - just so happens in that time it's gone up by £35k in that time. Tell me that is financial suicide?!??!

And the other "Problem" is the same everywhere. My house is £160k, but 9-10years ago (when it was built) it cost £89k. It's a two bed semi, and the 4 bed semi 6 doors down (built at same time) cost £100k back then.

When my mum bought her house 25years ago it was £40k. It's now worth about £350k - and if she puts about £18-£20k into getting the tiring slate roof sorted and finishes decorating, then it's knocking on the door of £400k.

So there's little point maoning about how much stuff costs now comparred to xxx amount of time agao - cos in ten years you'll be saying the same about the cost of it then vs now. But if like me you bought into property, in 10years I'll be saying "you know what kids, I bought my house 10years ago for £160k, now daddy's house is worth half a million" - whilst the young adults of that era will be saying "houses now are half a million, ten years ago they were £150k"

;)
 
I really don't follow your logic! How can buying into property become finacial suicide? It's closer to the opposite in reality...

My bro bough his place just over a year ago - just so happens in that time it's gone up by £35k in that time. Tell me that is financial suicide?!??!

And the other "Problem" is the same everywhere. My house is £160k, but 9-10years ago (when it was built) it cost £89k. It's a two bed semi, and the 4 bed semi 6 doors down (built at same time) cost £100k back then.

When my mum bought her house 25years ago it was £40k. It's now worth about £350k - and if she puts about £18-£20k into getting the tiring slate roof sorted and finishes decorating, then it's knocking on the door of £400k.

So there's little point maoning about how much stuff costs now comparred to xxx amount of time agao - cos in ten years you'll be saying the same about the cost of it then vs now. But if like me you bought into property, in 10years I'll be saying "you know what kids, I bought my house 10years ago for £160k, now daddy's house is worth half a million" - whilst the young adults of that era will be saying "houses now are half a million, ten years ago they were £150k"

;)

If you can get a house at a price that allows you to pay back the mortgage comfortably then go for it.

On the other hand, as prices have gone up people are finding that they have to stretch themselves more and more (in terms of how much they borrow) to afford one. This leaves them horribly exposed to rises in interest rates - such as is happening right now - or to a drop in income (lost job).

You should also be aware that prices do not go only in one direction and that 35k profit your brother made is only on paper and will only be realised when he sells the house. Since he'll most likely be selling it to buy another house, you might find that the new house will also have risen by at least 35k (probably more, if he's trading up) in the same time period that he saw his 'profit' in. Hence, he hasn't actually made any money.
 
I'm sixteen atm, earn 150-200+ a week in carework.
May move out soon to a flat...

A question how much keep did or do your parents make you pay? Because I think the £25 a week i'm paying is too much!

Tell you what, why don't you move out to your flat and then tell us how much per week your rent, utility bills, council tax and food add up to ..


.. You'll quickly discover that 25 quid per week is an absolute bargain for bed and board.

But full marks for paying your parents some keep, one reads of many people in various web forums in their 20s and 30s living at home rent free. That's how they afford to buy all their toys. Kind of amusing to read their stories of how hard it is to fit all their expensive gear into their bedrooms....
 
I left home at 18 years old to go to University. Living in my 3rd (bought) house now. Temporarily moved back into my parents for 18 months whilst my current house was built. It was difficult being back with parents aged 31 but it was just temporary so got through it.
 
Well, eventually moved out of my parents place 3 yrs ago aged 26 and purchased my first property for £143k. Wish i'd done it sooner really because the cost of property is absolutely absurd at the moment.
For example, the couple who owned the house before us only lived there for 2 years prior to us and paid £100k!! :eek: So, in two years, they made 43k. Makes me mad when i think about it but unfortunately that's just the way it is.
I've just had our house valued at £180k which is a crazy price for what it is. Anyone who purchased a house 5 yrs ago or more is laughing!
 
Man I can't even begin to imagine how hard it is gonna be to get onto the property ladder :(
 
Well, eventually moved out of my parents place 3 yrs ago aged 26 and purchased my first property for £143k. Wish i'd done it sooner really because the cost of property is absolutely absurd at the moment.
For example, the couple who owned the house before us only lived there for 2 years prior to us and paid £100k!! :eek: So, in two years, they made 43k. Makes me mad when i think about it but unfortunately that's just the way it is.
I've just had our house valued at £180k which is a crazy price for what it is. Anyone who purchased a house 5 yrs ago or more is laughing!

And anyone who's purchased it in the last 2-3 years is screwed, unless they've bought within their means.
 
And anyone who's purchased it in the last 2-3 years is screwed, unless they've bought within their means.

As long as the house prices continue rise steadily then it would still be a good idea to try and invest. The problem is that there's so much uncertainty within the housing market that no one can really predict what's going to happen and with lenders prepared to offer up to 5-6 x your salary, some people could really get their fingers burnt.

For me, there would have to be one hell of a crash for it to go pear-shaped as i have approx £80k equity in the property.
 
surely singh was joking!!! :eek:

If not young man you need some exposure to Monty Python immediately :D
 
surely singh as joking!!! :eek:

If not young man you need some exposure to Monty Python immediately :D

mind he did think the prestige is better than the illusionist, so you never know! :D
 
uphill both ways, and in the snow everyday? no, of course not!

:rotfl:
To be honest, I didn't read the whole post and only saw the words "evenings cleaning chimneys". I instantly had a picture of a goofy looking fella covered in soot. :D

If not young man you need some exposure to Monty Python immediately :D
Lets see how does it go "nee nee nee"? I seen a little of Monty Python not nearly enough though. :rotfl:

mind he did think the prestige is better than the illusionist, so you never know! :D
WHAT? NO WAY!! :D The Illusionist is better by miles, I've never said The Prestige was better. Think your memory is slipping old man :D
 
Left school at 16 went to residential college/uni never rearly went back bought my home at 25. I always say i left home at 16. i think my partents look at it in a positive way as my brother and sister are back there after divorces some time ago, both in their late 30's. i was in a relationship, she left for a bloke with a huge house, so i stayed here.
 
I was 15 when i left - made me stand on my 2 feet which has to be a positive. My daughters left when they were 18 and 19.

I had my kids young so i still have a fair chunk of life left, the last thing i wanted was my kids here for the rest of their lives. They are both happy and settled now and everyone is happy. There is always a place for them here but i dont want them to comeback. That shouldn't be taken the wrong way i love my kids but that doesn't mean i want to live with them. Christ after 20 years of hardship i've got some money at last :)

Gary
 
I really don't follow your logic! How can buying into property become finacial suicide? It's closer to the opposite in reality...

My bro bough his place just over a year ago - just so happens in that time it's gone up by £35k in that time. Tell me that is financial suicide?!??!

And the other "Problem" is the same everywhere. My house is £160k, but 9-10years ago (when it was built) it cost £89k. It's a two bed semi, and the 4 bed semi 6 doors down (built at same time) cost £100k back then.

When my mum bought her house 25years ago it was £40k. It's now worth about £350k - and if she puts about £18-£20k into getting the tiring slate roof sorted and finishes decorating, then it's knocking on the door of £400k.

So there's little point maoning about how much stuff costs now comparred to xxx amount of time agao - cos in ten years you'll be saying the same about the cost of it then vs now. But if like me you bought into property, in 10years I'll be saying "you know what kids, I bought my house 10years ago for £160k, now daddy's house is worth half a million" - whilst the young adults of that era will be saying "houses now are half a million, ten years ago they were £150k"

;)

I consider it financial suicide because the mortgage repayment costs relative to total earnings are far higher than they used to be. I mean, my parents bought our current house 20 years ago for £35,000 and it's now estimated to be worth £175,000. That's an increase of 400%. The average wage on the other hand was not 400% less, hence making it more of a financial burden for first-time buyers today. I've figured out that the mortgage repayments for myself on a cheap local property would be almost half of my monthly earnings and that's before you get to living costs. Surprisingly (at least to me), renting would be even more expensive.

I also don't believe house prices will continue to rise otherwise virtually nobody will be able to afford one in a few years time. It's unlikely they'll fall to the prices they were ten years ago but I wouldn't bank on them increasing indefinitely regardless of demand.
 
A year after University I moved out from my Parents' house (age 22). Rented a room from a mate for two years, then I moved back to my Parents' house for a year as I saved money for a deposit. Then I bought my house where I live now.
 
stayed there as long as possible lol.

I was 26 and basically peeing my wages against a wall, and one hungover day I went out and bought a car. Came home and my old man said crikey we'll never get rid of him now (half joking - I hope). Anyhow, I took that as a hint, and got a flat in Gorgie, Edinburgh (1997). It cost me £33k.
Same flat went on sale about 6 months ago and went for £109k. I just about passed out.

I remember it being a huge shock. Going from having disposable income (buying dvds, alcohol etc no problems) to having no money and swapping mothers good cooking for kwiksave burgers (yuk).

Always be thankful though, as it got me on the property ladder, and I would of probably stayed there a few years more (until some poor women got me). :D
 

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