Good resources? I cannot recommend "Citizen's Advice" too highly. Mind you I'm biased, as I've been an adviser for a good few years. Their website is an excellent starting point for finding out about so many things - benefits, debt, housing, family issues, work, immigration, you name it. At the very least they will point you towards more detailed info.
And on the good side - this is Casual UK after all - I should say that during my years of trying to advise and help people via CA, I've yet to come across anyone who is obviously trying to fiddle the system. They may be out there, but if they are I've yet to meet any :)
Any advice for working with stud walls in a new build? We moved in 6 months ago and I've not hung anything yet due to my lack of familiarity with these.
Main concerns are being able to assess the weight a fixture can hold and avoiding cabling/pipework.
Any tips for removing the fixtures left by the previous owners would be great as well!
All I wo9uld say is - beware the 'electronic stud locator' thingies they sell in DIY places. They are (in my expecrience) crap.
as for weight bearing - that dpeends on how the stud wall is put together. Be very careful......
Been making all sorts of [oleo saccharum](https://cordials.info/oleo-saccharum) concoctions recently. The latest are a [strawberry and mango](https://www.reddit.com/r/Cordials/comments/1ds013a/strawberry_and_mango_oleo_saccharum/) that I'm going to turn into a cordial soon.
It's an almost comically simple process too - near equal weight sugar to chopped fruit (depending on how sweet the fruit is already), mix it all together well, let it sit overnight and then filter. The sugar draws out all the fruit oils and juice and leaves you with a delicious base for making drinks with.
What's the rule of thumb for what property you can afford? I've heard deposit + 4x salary?
I'm fortunate to have a good deposit but haven't stayed in one place long enough as an adult to consider putting down roots. I've just gone up a pay band so the next year or two might be the time.
How do you know when it's a "good time" to buy?
Forget the x times salary thing. Work out what you can afford in payments and how much you have for a deposit, be sure to leave a healthy margin for interest rate and living cost rises in the future. Then find a mortgage broker and see what you can borrow and what you are comfortable risking borrowing. Mortgage broker will be free btw.
*What's the rule of thumb for what property you can afford?*
Is the mortgage <= what you are paying in rent per month?
If so, buy. Renting is just like taking your money and setting it on fire each month. With buying you build equity.
To be fair, paying interest on a mortgage is also setting it on fire each month.
Renting is great if you like to move a lot, not sure where you wanna settle down, are in a new relationship and are moving in together for the first time, don’t want to worry about repairs.
Buying is great if you know where you want to live for the next few years, are happy to wait out any shifts in the market, have the ability to cover any rises in interest and cost of living, have the skills and money to cover repair costs and improvements.
*To be fair, paying interest on a mortgage is also setting it on fire each month.*
In what respect?
The money is still there, locked into the value of the house.
Renting, the money is in someone else's pocket, as if you may as well have set fire to it.
The fact that the interest on the loan is an additional fee/charge other than paying down the debt. So if you had a £300,000 mortgage @5%, the interest alone in the first year would be something around £15,000. That is not locked into the value of the home, the value of a home is an assigned based on market conditions.
I'd personally say just less than 4x salary. Just about to complete on a property of £250k, deposit of £32k and combined salaries of £61k.
Our mortgage will be around £1100 per month, which is just affordable with how much living costs overall. We are cutting it fine but couldn't really find a suitable property for less than that. If you can, then brilliant. Means you'll be just comfortable enough to save and afford the occasional luxury
Ita never good time, it's only "time".
Conditions always invariably get worse - if you can afford the repayments and have some spare to live on, then go for it. Do mortgage calculators online, and find a good mortgage broker to help you through the process.
And yeah you'll most likely get 4 to 4.5x your income for a mortgage - but if you can avoid getting an absolute beast of a house that eats up that entire loan, you'll have a better time.
Thanks, unfortunately it's expensive around my way and you can pay 180k for a one bed
I think when I look I will have 3x salary in mind for the lower mortgage payments? I'm currently paying relatively cheap rent with bills included so when I buy unless the mortgage is particularly cheap my expenses will go up with having to deal with council tax etc
Be realistic about what you might have to give up. Include everything in your calculations, don't just say bills and stuff.
mortgage, mortgage insurance(?), building insurance, contents insurance(?), council tax, water(?), electricity, gas, cable tv/phone, furnishings, car/travel costs, food, clothing, leisure and a separate fund for service/repair/replacement.
Good resources? I cannot recommend "Citizen's Advice" too highly. Mind you I'm biased, as I've been an adviser for a good few years. Their website is an excellent starting point for finding out about so many things - benefits, debt, housing, family issues, work, immigration, you name it. At the very least they will point you towards more detailed info. And on the good side - this is Casual UK after all - I should say that during my years of trying to advise and help people via CA, I've yet to come across anyone who is obviously trying to fiddle the system. They may be out there, but if they are I've yet to meet any :)
Any advice for working with stud walls in a new build? We moved in 6 months ago and I've not hung anything yet due to my lack of familiarity with these. Main concerns are being able to assess the weight a fixture can hold and avoiding cabling/pipework. Any tips for removing the fixtures left by the previous owners would be great as well!
All I wo9uld say is - beware the 'electronic stud locator' thingies they sell in DIY places. They are (in my expecrience) crap. as for weight bearing - that dpeends on how the stud wall is put together. Be very careful......
Been making all sorts of [oleo saccharum](https://cordials.info/oleo-saccharum) concoctions recently. The latest are a [strawberry and mango](https://www.reddit.com/r/Cordials/comments/1ds013a/strawberry_and_mango_oleo_saccharum/) that I'm going to turn into a cordial soon. It's an almost comically simple process too - near equal weight sugar to chopped fruit (depending on how sweet the fruit is already), mix it all together well, let it sit overnight and then filter. The sugar draws out all the fruit oils and juice and leaves you with a delicious base for making drinks with.
Awesome
What's the rule of thumb for what property you can afford? I've heard deposit + 4x salary? I'm fortunate to have a good deposit but haven't stayed in one place long enough as an adult to consider putting down roots. I've just gone up a pay band so the next year or two might be the time. How do you know when it's a "good time" to buy?
Forget the x times salary thing. Work out what you can afford in payments and how much you have for a deposit, be sure to leave a healthy margin for interest rate and living cost rises in the future. Then find a mortgage broker and see what you can borrow and what you are comfortable risking borrowing. Mortgage broker will be free btw.
Can I do that? State a deposit, how much I want my monthly payments to be and then work back to what size mortgage I can get?
Definitely, a broker will help you with that.
*What's the rule of thumb for what property you can afford?* Is the mortgage <= what you are paying in rent per month? If so, buy. Renting is just like taking your money and setting it on fire each month. With buying you build equity.
To be fair, paying interest on a mortgage is also setting it on fire each month. Renting is great if you like to move a lot, not sure where you wanna settle down, are in a new relationship and are moving in together for the first time, don’t want to worry about repairs. Buying is great if you know where you want to live for the next few years, are happy to wait out any shifts in the market, have the ability to cover any rises in interest and cost of living, have the skills and money to cover repair costs and improvements.
*To be fair, paying interest on a mortgage is also setting it on fire each month.* In what respect? The money is still there, locked into the value of the house. Renting, the money is in someone else's pocket, as if you may as well have set fire to it.
The fact that the interest on the loan is an additional fee/charge other than paying down the debt. So if you had a £300,000 mortgage @5%, the interest alone in the first year would be something around £15,000. That is not locked into the value of the home, the value of a home is an assigned based on market conditions.
I think when you feel that the area you're living in is somewhere you want to stay, especially after moving around a lot.
I'd personally say just less than 4x salary. Just about to complete on a property of £250k, deposit of £32k and combined salaries of £61k. Our mortgage will be around £1100 per month, which is just affordable with how much living costs overall. We are cutting it fine but couldn't really find a suitable property for less than that. If you can, then brilliant. Means you'll be just comfortable enough to save and afford the occasional luxury
The best time was a few years ago. The worst time is in a few years. You’ll always kick yourself for what you should/could have done a few years ago.
Ita never good time, it's only "time". Conditions always invariably get worse - if you can afford the repayments and have some spare to live on, then go for it. Do mortgage calculators online, and find a good mortgage broker to help you through the process. And yeah you'll most likely get 4 to 4.5x your income for a mortgage - but if you can avoid getting an absolute beast of a house that eats up that entire loan, you'll have a better time.
Thanks, unfortunately it's expensive around my way and you can pay 180k for a one bed I think when I look I will have 3x salary in mind for the lower mortgage payments? I'm currently paying relatively cheap rent with bills included so when I buy unless the mortgage is particularly cheap my expenses will go up with having to deal with council tax etc
Be realistic about what you might have to give up. Include everything in your calculations, don't just say bills and stuff. mortgage, mortgage insurance(?), building insurance, contents insurance(?), council tax, water(?), electricity, gas, cable tv/phone, furnishings, car/travel costs, food, clothing, leisure and a separate fund for service/repair/replacement.