Sophie
Region: GB
Tuesday 29 July 2025 15:38:36 GMT
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Michael Plus :
add to that maintenance/repairs which is recommended to budget 1% of value but in real-life the average is 0.5% (many owners budget nothing which is so bad), so let's go low and pretend maintenance costs will average 0.5% of value so approx £3k a year, £90k over 30 years ......it be more as value won't still be 550k in 20 heats so the real cost to own that flat is approx £900k plus inflation and you can't sell and pocket the £550k at end because you still need to live somewhere so the value will stay in the house not your bank, question is would rent over the 30 years for same flat be less then £900k? (plus inflation) or £2.5k a month, probably not so renting isn't more expensive, landlords make most of their money when they sell ...... and they can sell as they don't live there, so don't need to replace it with a new house
2025-07-30 23:07:40
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Ann :
I bought a 2 bed in zone 3 for £318k on my own
2025-07-30 20:17:57
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wowoftd :
And you’ll need to earn £100k+ to be offered the mortgage
2025-07-29 21:32:54
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Wrenibob :
This includes all the penthouses etc. Lots of us buying in London for a lot less!
2025-07-30 13:06:22
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S :
Worst part that’s not including ground rent or service fees
2025-07-30 09:50:26
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JJ :
“Partner of 5 years at the moment” 🥀🥀🥀
2025-07-30 20:17:19
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T :
Another thing you’ve forgotten to mention is that you would need close to a 6 figure salary too
2025-07-29 21:07:47
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AspenRockx :
All part of the corrupt financial debt interest system. Mortgages / loans should have never of happened. The housing market would be very very realistic
2025-07-30 23:44:25
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Khalid Noor481 :
That's why the government has to do whatever it can to make properties prices go up. Do you know why the price keeps going up now ?
2025-07-30 22:11:59
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brit_in_bosnia :
You missed legal fees, and (assuming its a leasehold flat cos the government are too busy monitoring peoples internet habits to act of the whole freehold issues), ground rent and service charges.
2025-07-30 19:06:01
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Alex Spencer :
And what salary do you need to afford a £500,000 flat ????
2025-07-29 22:45:40
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Warren :
Half a mil for a flat or half a mil for a detached in the sticks
2025-07-30 14:03:34
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Laura :
My one bed was 290 and there are many around that for sale in my very nice zone 2 SE London area. Also as a first time buyer I needed a 15% deposit
2025-07-30 20:35:02
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Ben Nossiter :
Sorry to burst the bubble but average price of a 1 bed in London isn’t 550,000
2025-07-29 21:06:08
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Amy :
and people constantly ask me why I don't want to buy. its not that I don't want my own home - I don't want to be stuck in a world of debt 🙃
2025-07-30 16:32:22
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Hobbit :
Crazy that the monthly repayments is the same as renting
2025-07-30 12:03:05
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London Keith :
Stamp duty is a scam. Moved to London from the U.S. and was shocked about stamp duty. What is the government doing with all that money they are scamming from us
2025-07-30 13:33:06
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SensibleSarah :
Your deposit cost significantly more than my whole house 😂. This was a few years ago mind, but I can't wrap my head around London prices.
2025-07-30 11:27:35
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Olga :
Currently buying 3bed house for £560k, you can find cheaper flats
2025-07-30 07:38:10
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Lion :
what's funny is Bonnie blue could buy it outright in cash in 1 month of working 🤣
2025-07-29 22:55:51
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Kirstar :
You can get a studio or 1 bed for 200-220 in places like New Cross. Helping Hand mortgage with nationwide also helps people on one person/average salaries. It’s the deposit that’s the hardest part but if you save around 350 a month in an LISA for 4 years you can save 20k (with gov bonus). I never thought it was possible but I’ve seen friends do it! But you have to be prepared to not live near a station and not have much square footage.
2025-07-30 16:15:10
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Victoria :
But why do that on a 1 bed?
2025-07-29 16:12:40
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Shraaap :
you forgot lawyer, surveyor, land registry, etc...
2025-07-30 06:48:28
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mental.labworks :
Plus utilities plus council tax plus ground rent plus service fees plus maintenance….
2025-07-30 08:59:28
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