A while ago, in one of the usual daily news papers there was a letter from someone about my age titled "Save more and stop moaming if you want to nuy a home!"
Very true, to put things into perspective my first house (two bed terrace, storage heaters, no double glazing, no garage, no gas) cost me £8,500. Bargain I hear you say, well on a wage of £200/month it was hard. Only allowed three times my salary as a mortgage, and interest rates of % plus and they went up to 17% after a decade. It wasn't easy. But you bought where you could afford, had 30 mile journey to work each way, I had second hand furniture and I had a clapped out Morris Minor. I just about managed each month, but not much left over, say £5!
Now these milleneial want their forever home now, four bed detached, with garage, in the area they like to be near their friends (I thought these millenial's friend all lived in Facebook and Twitter!), they also want brand new furniture, new car(s), good job (must have degree) and of course the expect to retire on a salary near to their income.
Get real kids, buy a cheap house, needs some repair, buy second hand furniture, move to a cheaper area, ditch the new car, cut out you gym membership. Stop buying Costa coffee every day/hour, get yourself a 2g phone and payg
Do those few things and the house will be yours - Just Do It and stop moaning!
Good advice
ReplyDelete