Lanavalentine
VIP Member
I’m so sorry. It’s so shit. It’s just the way it is, and it’s unfair on so many people, so please try not to take it to heart.
I personally don’t think shared ownership works for most people anyway. It can be quite difficult to sell on and move up the ladder.
If I were in your position, I’d be doing three things (apologies if you’re already doing this):
- saving as hard as possible; looking to cut down outgoings in general to get bank accounts looking healthy
- looking at my career prospects and financial options. What will your salary look like in five years? If it’s not going to increase much, can you look at other career options? How can you earn your best salary?
- looking at places other than London to live. So many cities in the UK can offer an equally vibrant lifestyle. Could you move to a cheaper city?
The final thing, which is a very big thing and definitely doesn’t work for everyone, is to consider trying to buy a property with a friend. I have female friends who got on the property ladder in London by doing this. It requires legal input and a lot of trust, but it can be done. I am still not sure your salary would be enough in London though, unfortunately, unless your friend earns a lot more, which might cause issues down the line really.
I know it’s shit. It’s a fucking crime, to be honest. It makes me so angry how an average wage cannot buy a house in the majoritt of the country. Everyone has to make sacrifices and be clever about their longterm prospects, and that’s probably even more important if you’re looking to buy alone.
Good luck x
Edited to add:
Please don’t compare yourself to influencers who make loads of money and have bought property young. They are NOT the norm and if you have a profession you are better future-proofed than them when their influencer bubble bursts!
Also, 30 is young and your parents won’t understand because it was SO different in their day. Houses were fairly priced then. You have so much time, and basically 90% of people your age are in the same boat. Hang tight and just be as financially savvy as possible.
I personally don’t think shared ownership works for most people anyway. It can be quite difficult to sell on and move up the ladder.
If I were in your position, I’d be doing three things (apologies if you’re already doing this):
- saving as hard as possible; looking to cut down outgoings in general to get bank accounts looking healthy
- looking at my career prospects and financial options. What will your salary look like in five years? If it’s not going to increase much, can you look at other career options? How can you earn your best salary?
- looking at places other than London to live. So many cities in the UK can offer an equally vibrant lifestyle. Could you move to a cheaper city?
The final thing, which is a very big thing and definitely doesn’t work for everyone, is to consider trying to buy a property with a friend. I have female friends who got on the property ladder in London by doing this. It requires legal input and a lot of trust, but it can be done. I am still not sure your salary would be enough in London though, unfortunately, unless your friend earns a lot more, which might cause issues down the line really.
I know it’s shit. It’s a fucking crime, to be honest. It makes me so angry how an average wage cannot buy a house in the majoritt of the country. Everyone has to make sacrifices and be clever about their longterm prospects, and that’s probably even more important if you’re looking to buy alone.
Good luck x
Edited to add:
Please don’t compare yourself to influencers who make loads of money and have bought property young. They are NOT the norm and if you have a profession you are better future-proofed than them when their influencer bubble bursts!
Also, 30 is young and your parents won’t understand because it was SO different in their day. Houses were fairly priced then. You have so much time, and basically 90% of people your age are in the same boat. Hang tight and just be as financially savvy as possible.
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Why are single women constantly penalised for everything?
Your time will come. Normally when you’re least expecting it. Just concentrate on saving as much as you can in the mean time. It’s hard buying a house alone, but not impossible you just have to be realistic and sensible.
She is still renting as, like you, she does love London and would prefer not to live within visiting distance of family (but that's her story not mine....).