Dear Universe

26 11 2013

Universe

Dear Universe,

Hi there, it’s Z here. Now I don’t ask for much – I never have. I am fairly easy to keep happy. However I have been advised that in order to achieve our deepest desires all we need to do is ask you nicely, so I thought I would give it a go. That way we both know where we stand.

My deepest desire for a number of years now has been to own a house. This is not a new goal but it is becoming increasingly important to me as I will have my own child mid way through next year and I want him/her to have a safe and comfortable home to live in. So really I m not even asking for myself – I am that selfless!

I have just seen the most perfect place. As is always the case though, the deposit is a sticking point. I am trying really hard to raise as much as possible as quickly as possible but I am paying high rent and bills for my current accommodation and it is tricky. Now I understand that asking you for money is considered crass so I will simply say that I really want my own home and could you lend me a helping hand?

It could be in the form of a loan or maybe a small lottery or scratch card win, – I don’t care about the top prize on the Euro Millions but £7500 ought to do it. That isn’t a lot to ask is it? Achieving a perfect credit score would also be a small help in the right direction. And I genuinely believe that I am more deserving than another property developer who will charge high rent for another professional couple to shell out each month – no doubt preventing them raising a deposit for their own place.

So please, please, please Universe help me out.

Love and hugs Z

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Dream House – viewing cancelled

12 10 2013

house_cartoonFFOMC and I were due to view a property today. It went on the market late on Thursday.

We received a call and booked a viewing at 4pm today. But by midday yesterday this was cancelled as it had already gone under offer.

Now this would potentially have been the most frustrating house viewing ever. We registered our interest in a particular development some time ago expecting the release date to be round about Christmas. As such we are not really in a position to buy right now but do not want to appear like we have lost interest. FFOMC has also not seen the actual development; I visited with my parents; saying that he trusts my judgement.

Thi was slighly better than the plots we have been looking at. It is a house rather than an appartment, came with a little garden and was only 2500 more than the most expensive appartment on offer.

Now although we are not in a position to make an offer there was a chance we could have enlisted family support etc to help with the deposit and at the very least we could have crunched the numbers and reassessed how achievable and in what sort of time period.

This property is not to be. Next time though – maybe next time.





Savings Screw Up

1 08 2013

Savings Screw Up

I have just spent the most devastating hour on the phone with NS&I talking about my savings account.

Five months ago I transferred to an account which offered telephone and internet banking to make it easier for me to manage my savings.

Unfortunately it would appear that everything changed except the monthly payments being made from my main bank account into said savings account. It would appear that although the money has left my account and paid a visit to cyber space each month – it has pinged back into my account a few days later. As a result the balance of my account which I believed was blossoming nicely has in fact not changed since February. I am not entirely sure how I failed to pick up on this but it has really knocked me.

Last month when I blogged about the progress made towards raising our deposit for our own home I believed we were getting close and that we had 77% of our target tucked away in savings. The reality today is that we actually have only 56%.

I am absolutely gutted.

However I cannot turn the clock back 5 months so moving forward – at least I have spotted this now. I have changed the standing order details so that my savings will once again start to build from the beginning of next month and I have resolved to monitor my savings account more closely to ensure that all transfers are successful. Need to have a real push forward between now and Christmas to try to make up for lost time.

PROGRESS TOWARDS RAISING A HOUSE DESPOSIT

DATE

% OF DEPOSIT SAVED

ESTIMATED MONTHS TILL PURCHASE

JULY 2012

28%

23 – June 2014

AUGUST 2012

31%

22 – June 2014

SEPTEMBER 2012

33%

21 – June 2014

OCTOBER 2012

36%

20 – June 2014

NOVEMBER 2012

42%

19 – June 2014

DECEMBER 2012

47%

17 – May 2014

JANUARY 2013

54%

15 – March 2014

FEBRUARY 2013

59%

14 – February 2014

MARCH 2013

62%

10 – January 2014

APRIL 2013

76%

                      6 – October 2013

MAY 2013

62%

10 – March 2014

JUNE 2013

73%

6 – December 2013

JULY 2013

77%

5 – November 2013

AUGUST 2013

56%

14 – October 2014





Home Improvements

8 07 2013

Home Improvements

I am getting twitchy.

The summer holiday is fast approaching. During the 6 week break I will be spending more time in my flat and I am desperate to pick up a paintbrush and redecorate my living room so I can relax in my own living space.

However I do not own the property in which I live but rent it from a private landlord. This is a bit of a sore point.

Due to a leaking roof, the wall of my living room is streaked where water streams down from cracks in the ceiling when it rains heavily. There are also patches where plaster is flaking off. Even if none of this was an issue, the paintwork itself is very much in need of a recoat.

I resent the idea of spending money on someone else’s property even if it is me who has to put up with the décor looking a little tired.

I will resist the urge to indulge my inner interior designer for now and focus on saving my pennies for my mortgage and a summer holiday with FFOMC.

 

PROGRESS TOWARDS RAISING A HOUSE DESPOSIT

DATE

% OF DEPOSIT SAVED

ESTIMATED MONTHS TILL PURCHASE

JULY 2012

28%

23 – June 2014

AUGUST 2012

31%

22 – June 2014

SEPTEMBER 2012

33%

21 – June 2014

OCTOBER 2012

36%

20 – June 2014

NOVEMBER 2012

42%

19 – June 2014

DECEMBER 2012

47%

17 – May 2014

JANUARY 2013

54%

15 – March 2014

FEBRUARY 2013

59%

14 – February 2014

MARCH 2013

62%

10 – January 2014

APRIL 2013

76%

                      6 – October 2013

MAY 2013

62%

10 – March 2014

JUNE 2013

73%

6 – December 2013

JULY 2013

77%

5 – December 2013





Help to Buy

1 04 2013

Help to buy

At the beginning of each month I review my progress towards raising the elusive deposit for buying my first home. I am delighted to report that my savings are continuing to build steadily but I am definitely feeling the months drag as the end goal still feels unobtainable.

On 20th March 2013 the annual budget brought included good news for potential first time buyers.

The new government scheme Help to Buy will help people who have raised 5% of the cost of a property with a maximum value of £600,000. It must be a new build.

The government will then give you an equity loan worth 20% of the house value to be repaid at anytime. This means the buyer only has to secure a deposit of 75%. The scheme will run for 3 years starting from today.

I hope I am one of the people who benefits from this scheme. We both work our socks off and deserve somewhere we can called our own.

PROGRESS TOWARDS RAISING A HOUSE DESPOSIT

DATE

% OF DEPOSIT SAVED

ESTIMATED MONTHS TILL PURCHASE

JULY 2012

28%

23 – June 2014

AUGUST 2012

31%

22 – June 2014

SEPTEMBER 2012

33%

21 – June 2014

OCTOBER 2012

36%

20 – June 2014

NOVEMBER 2012

42%

19 – June 2014

DECEMBER 2012

47%

17 – May 2014

JANUARY 2012

54%

15 – March 2014

FEBRUARY 2012

59%

14 – February 2014

MARCH 2012

62%

10 – January 2013

APRIL 2012

76%

                      6 – October 2013

 

 

I'm part of Post A Day 2013





Viewing Our Potential Dream Home

1 02 2013

house_cartoon

It’s time once more for me to reflect on my progress towards achieving my dream of home ownership.

You may have noticed that a few months ago I started including a table at the bottom of posts relating to home ownership. These posts are my way of tracking my progress towards raising a deposit and the table shows the % of the deposit we have saved and the estimated months it should take until we are able to purchase – assuming we maintain the momentum and everything continues as planned. This is by no means an exact science and a million things could happen between now and then, but I am the type of person who needs clear goals and targets but I should still explain how these numbers were generated.

One of my personal barriers to raising a deposit has been the fact that owning a home costs a lot of money. As such it is prudent to have a large amount in savings before embarking in the process of viewing properties and approaching lenders. But with no end goal or exact figures in mind, I was finding it hard to retain focus and enthusiasm as it all seemed very abstract.

I am fully prepared to make sacrifices to achieve my dreams but I needed some sort of savings target and a deadline to work towards; otherwise how would I know how much of my income to set aside each month? “Lots of it” was not specific enough for me and I was struggling to commit  with no end in sight.

I discovered a local property being sold under a government scheme for first time buyers. I took my husband to see it – it was perfect!!!

We decided to use this property as a model altough we were not in a position to purchase at that point it gave us an idea of how far our money could go and more importantly the sort of deposit we should be aiming for. I got out my calculator and did some sums.

Of course, by the time we have raised the money we hope to save, it is highly likely these properties will no longer be available or the scheme may be cancelled but we now have something concrete to work towards. What we are currently saving each month amounts to about 3% of the total deposit that we would need. My aim is to gradually increase this to 5% (because I like round numbers) but 3% is perfectly acceptable for the time being.

The important thing is that by approaching it this way home ownership feels more achievable. As long as I save a minimum of 3% of the deposit needed every month I feel a sense of achievement. Anything over this amount is obviously a bonus but I don’t feel guilty about every penny I spend that does not end up in savings.

As things currently stand we have saved a total of 59 % of the deposit we think we need and could potentially be ready to purchase in 14 months.

Watch this space for “THINKING OUTSIDE THE BOX

PROGRESS TOWARDS RAISING A HOUSE DESPOSIT

DATE

% OF DEPOSIT SAVED

ESTIMATED MONTHS TILL PURCHASE

JULY 2012

28%

23 – June 2014

AUGUST 2012

31%

22 – June 2014

SEPTEMBER 2012

33%

21 – June 2014

OCTOBER 2012

36%

20 – June 2014

NOVEMBER 2012

42%

19 – June 2014

DECEMBER 2012

47%

17 – May 2014

JANUARY 2012

54%

15 – March 2014

FEBRUARY 2012

59%

14 – February 2014