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Housing
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damonblackpaw in the UK next year I've been looking into an alternative living unit. My current flatmate doesn't really want another person in the flat, so I'll be moving out before Damon moves here.
I'd absolutely love to buy a house, but even with my impending pay rise for my Out of Hours job (putting me near £20K a year) I still cannot afford the £80K+ mortgage for a decent house near to where I work.
My only alternatives are renting a house or New Build Homebuy.
Renting is OK but it's often short term (six months) and I'd rather not go through the rigmarawl of dealing with a landlord and reapplying all the time; I'd also like some freedoms that most landlords don't allow.
The New Build Homebuy seems like a better option. I mortgage for a 25% share of the house and pay a reduced rent until I've paid off the property, with the option of increasing my rent if I get more money, or buying more of house in chunks if I get a windfall. I'd get a new, but unfurnished house that I am ultimately in control of; repairs fall down to me but I can do whatever the hell I want with it. And once I reach the end of the rent agreement I will have bought the property outright!
I'm not going to start looking seriously at places until later this year as I want to amass some savings first, but I am going to put out feelers to some Homebuy agents about the costs of the New Build scheme.
damonblackpaw in the UK next year I've been looking into an alternative living unit. My current flatmate doesn't really want another person in the flat, so I'll be moving out before Damon moves here.I'd absolutely love to buy a house, but even with my impending pay rise for my Out of Hours job (putting me near £20K a year) I still cannot afford the £80K+ mortgage for a decent house near to where I work.
My only alternatives are renting a house or New Build Homebuy.
Renting is OK but it's often short term (six months) and I'd rather not go through the rigmarawl of dealing with a landlord and reapplying all the time; I'd also like some freedoms that most landlords don't allow.
The New Build Homebuy seems like a better option. I mortgage for a 25% share of the house and pay a reduced rent until I've paid off the property, with the option of increasing my rent if I get more money, or buying more of house in chunks if I get a windfall. I'd get a new, but unfurnished house that I am ultimately in control of; repairs fall down to me but I can do whatever the hell I want with it. And once I reach the end of the rent agreement I will have bought the property outright!
I'm not going to start looking seriously at places until later this year as I want to amass some savings first, but I am going to put out feelers to some Homebuy agents about the costs of the New Build scheme.