| Comment | We were in your position! Really wanted a specific type of property with a garden and just couldn’t get anywhere at the closing dates.
It might not be for everyone, but we went for a tiny flat in a slightly worse area just to get on the ladder. Mortgage was cheaper than rent so we could still save like crazy. We stayed 3 years and by the time we sold it we had a good chunk of savings, the equity in the property, plus made an extra 10% where the house prices had risen.
Obviously we got lucky, and you can’t guarantee that prices will go up, but it gave us that boost to get into the next price bracket with the funds to go over HR. Also in an extra few years your incomes may increase with career, so that all helps with mortgage affordability etc.
Now we have a garden and are in the area we want! It was definite short term pain (2 adults WFH in a tiny 1 bed) but it paid off in the long run! |
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