How do so many influencers afford new houses / new build homes

[Missoula18]

Does anyone else wonder how on earth these people afford new builds?! The amount of times I see some 21 year old girl posting about their detached 4 bed brand spanking new home with #hardworkpaysoff #blessed only thing I can think of is must have had help from the bank of daddy or a wealthy, older partner.

Take that brogan georgiou for example, now I know she's not 21 BUT the hubster only works in the family chippy and they've lived above the shop for years apparently....all of a sudden they've got a huge David Wilson house being built and she is going on about their swanky kitchen and top of the range flooring.... Don't think I've ever known her to have a job!! I know that it's quite the subject of a few of the instamums at the moment as to quite how they've managed to get a house like that....loads of people saying they wish they knew how they had done it but she's being a bit cagey!!

 

[Doingitforthegram]

Help to buy - interest free 20% deposit so you only need 5% yourself. Means lower mortgage payments too.

I benefitted from it myself.

 

[Tublet83]

I have sad fascination with these accounts, they all look the same....grey...with a crushed velvet bed spread

 

[Buddy2019]

I’m 23 and bought a 3 bed semi last year! Help to buy meant I needed only a 5% deposit, and I bartered with them A LOT to give us the best flooring, turf included and to pay all solicitors fees

 

[Mum.est2014]

Does anyone else wonder how on earth these people afford new builds?! The amount of times I see some 21 year old girl posting about their detached 4 bed brand spanking new home with #hardworkpaysoff #blessed only thing I can think of is must have had help from the bank of daddy or a wealthy, older partner.

Take that brogan georgiou for example, now I know she's not 21 BUT the hubster only works in the family chippy and they've lived above the shop for years apparently....all of a sudden they've got a huge David Wilson house being built and she is going on about their swanky kitchen and top of the range flooring.... Don't think I've ever known her to have a job!! I know that it's quite the subject of a few of the instamums at the moment as to quite how they've managed to get a house like that....loads of people saying they wish they knew how they had done it but she's being a bit cagey!!

Help to Buy I imagine, I also think some new developers offer money off stamp duty and solicitors etc as an incentive so it can often work out cheaper to buy a much bigger (new) house.

You have to pay the Help to Buy back after 5 years though, or pay interest on the amount borrowed. So, unless you save like crazy or live in an area where house prices are rising steadily, I don’t think it’s always a long term gain to do it that way.

 

[Theyallneedarealitycheck]

I live in a new build and used Help 2 Buy however we were already on the property ladder and had an already sizeable amount of equity. We were very sensible and made sure we could afford both the mortgage and the H2B repayment. We didn’t go for the most expensive house available to us as I would rather have some disposable income each month.

I find a lot of the houses very samey and very unimaginative.

 

[non binary coat]

No offense to anyone on a help to buy, but I think it just inflates the prices of home. It's really to help the builders shift houses.

Won't lots of people become unstuck when they have to pay back the 20%?

 

[Theyallneedarealitycheck]

No offense to anyone on a help to buy, but I think it just inflates the prices of home. It's really to help the builders shift houses.

Won't lots of people become unstuck when they have to pay back the 20%?

Yes however you only have to pay back the minimum which for our house would be something like £70 a year. That’s ridiculous and means we’d never make real inroads to it. We are planning on moving to a different phase on our estate and not using help to buy when we do purely because it means one loan/ mortgage rather than two.

 

[Buddy2019]

No offense to anyone on a help to buy, but I think it just inflates the prices of home. It's really to help the builders shift houses.

Won't lots of people become unstuck when they have to pay back the 20%?

I would like to think that people are responsible enough to ensure they are able to pay that amount - that was the reason we went for a 3 bed instead of something like a 5 bed on the same estate which we could’ve got with our financial situation. Many people remortgage after the 5 years to make the payments the same (husband is a mortgage advisor)

 

[Serious_Susan]

There’s a whole development of houses near us that recently turned 5 years old and about 70% are now on the market - I imagine this is because those who bought with H2B are now unable to pay it back?

Each to their own, we went to a H2B event and it didn’t sit right with us. Meant another 18 months saving but worth it to not have to think about paying it back.

 

[Pajxo]

Help to Buy I imagine, I also think some new developers offer money off stamp duty and solicitors etc as an incentive so it can often work out cheaper to buy a much bigger (new) house.

You have to pay the Help to Buy back after 5 years though, or pay interest on the amount borrowed. So, unless you save like crazy or live in an area where house prices are rising steadily, I don’t think it’s always a long term gain to do it that way.
[/QUOTE

No offense to anyone on a help to buy, but I think it just inflates the prices of home. It's really to help the builders shift houses.

Won't lots of people become unstuck when they have to pay back the 20%?

the catch they also don’t tell you that is if you still owe part of the deposit back after the 5 years ( even if you have been paying off the interest) and a recession hits your home is the first to be repossessed. It’s a really bad way to get into buying a house unless you can afford to definitely pay off the full borrowed deposit within the 5 years

 

[non binary coat]

I would like to think that people are responsible enough to ensure they are able to pay that amount - that was the reason we went for a 3 bed instead of something like a 5 bed on the same estate which we could’ve got with our financial situation. Many people remortgage after the 5 years to make the payments the same (husband is a mortgage advisor)

People are generally idiots that never save for a rainy day and never prepare for the future.

Most people are only two months away from poverty if they lost their job.

 

[Missoula18]

I have sad fascination with these accounts, they all look the same....grey...with a crushed velvet bed spread

Crushed velvet is vile - soooo chavvy!!!

 

[Luna_]

A lot of people these days, at least that I know, are getting help from parents or an inheritance for the deposit.

 

[ChubClubThug]

I think half the time everything is on lease to make these people look more wealthy so more attractive to viewers. Actual celebs have been doing it for years.

 

[Doingitforthegram]

No offense to anyone on a help to buy, but I think it just inflates the prices of home. It's really to help the builders shift houses.

Won't lots of people become unstuck when they have to pay back the 20%?

You dont have to pay back the 20% - just the interest which goes up each year but is lower than most mortgage rates or at least it was when we bought ours.

We arent stupid though and because our mortgage was cheaper we were able to save enough each month which meant we would be able to pay off the HTB after 5 years. As it happened, we moved after 3 and ended up having a pretty decent deposit.

I'd never buy a new build again though, they are tit