Its not that bad renting if your living with someone, I have a 2 bedroom flat and its not costing me that much.
I can see why it would hurt your pockets more if you were living alone. I have 3 friends living together in a house they rent but I can see their friendship slowly starting to crack. Normal living together arguments such as cleaning, washing up, bills paid on time etc.
why rent ?
Quit your job , claim social .. nockup the gf so she gets a baby and then live illegaly in her free appartment
have a few more kids get lots of money + dole money !
3/4 of British are doing it and have no plan to work ever in there life .. Do it now before its to late lol !
* This may be a joke , pleaqse dont quit your job
The problem is that you may earn a reasonable salary, but:
1. Deposit - most banks want at least 10% (for first time buyers) and more. If a house is £100,000 (and very few south of Manchester are) thats £10,000 - saving that much takes a long time.
2. Amount that can be borrowed - a single person on £20,000 with no pre-existing commitments and 100% of his wages in salary and no bonuses (they only take 50% of bonuses into account so my partner who earns £7,000 of his yearly salary in 'performance-related-bonuses' with a pitiful basic salary earns less as far as a bank is concerned than I do, when in fact take-home-pay is about the same) can borrow 4 times their salary. So for a £20,000 salary they can borrow £80,000. What can you buy with £90,000 (assuming they have a £10,000 deposit)? Certainly nothing deisrable down here in the south. Even flats are in the £100,000 ranges.
We bought a house that needs a LOT of work doing to it in Gosport for £150,000 and they wanted 10% deposit as FTBs - that's £15,000 - we had to borrow it off parents - there is no way a single person can afford this!
3. Council tax, TV licence, Utilities (water is absurd), Phone, food, etc. A single salary can't cover that!
ha ha we have 30 years to go on our mortgage :) i'll be nearly 60 before its paid off :(