This is a serious question. My wife and I brought our flat in 2016, we’ve considered moving into a house a couple of months ago start a family. I don’t really want to as our mortgage is almost finished, we basically lived in bake beans and toast (not quite) since overpay as much as we have. (It is shared ownership)
I thought we made a decent yearly in come (50k total) but we could never afford a 1300£ a month mortgage. Currently my wages cover all the bills. We have some outstanding car loans but they are only 358£ total (2 cars)
Unless we move away from all our family and friends and live in a shed in the Isle of Skye (which actually sounds kinda nice)
How on earth are first time buyers buying houses? Is everyone just making more money than us?
Edit: NUMBERS (everyone kept asking)
my current income monthly : 1,964£ My wife’s current income monthly: 1,345£
Our current outgoings total (bills/cars/council tax mortgage) 1,870£ Food and fuel roughly 300ish a month.
Current savings account 10k£ Current stock investment 2k£ Current crypto investment 500£
My outgoings (bills) will be going down by 119£ in June after paying of one of the cars.
And down by about 680£ in November (mortgage paid off)
Second edit : we own 25% at time of purchase 45k£.
submitted by /u/Archtects to r/UKPersonalFinance