I need to buy a 2 bed property in Essex. The house prices are crazy! I earn too much to get help from council etc but not enough to buy.
Have looked at shared ownership schemes but they are reserved for key workers and people on the housing register (which I am not on because apparantly I earn too much).
Any suggestions??
2007-03-29 06:10:57 · 7 answers · asked by Laura H 1 in Business & Finance ➔ Renting & Real Estate
Need 2 beds because I have a little girl.
2007-03-29 06:26:05 · update #1
Essex in England.
Just outside London so house prices have been increasing for years and there's not much chance of them dropping.
P.S Thankyou to everyone for taking the time to answer x
2007-03-29 06:28:20 · update #2
One alternative is to think bigger here and consider moving to another area, even abroad. Moving to a quieter place could be beneficial for yourself, your child. If your jobs transferable you should give it some thought.
2007-03-29 07:45:22 · answer #1 · answered by exploding_pants 2 · 0⤊ 0⤋
I have a shared ownership property in Middlesex and I'm neither a key worker or on the housing register. There is a third criteria which is you have to either already live or work in the area you're applying for (at least with St George whome I share with). Priority is given to key workers but the housing associations like to shift these properties quite quickly, an empty property cost them money, the chances are if you apply for a shared ownership property on a new build you'd get in.
Good luck
2007-03-29 06:29:35 · answer #2 · answered by ? 4 · 1⤊ 0⤋
So far you're giving reasons why you shouldn't purchase in Essex. By the way, where is Essex? I know of one in Virginia and one I believe in Pennsylvania.
Shared ownership may not necessarily be a scheme, however, with such a large purchase, you should look for something you can handle independently. So why not look for a Realtor who can show you properties in adjacent areas that may be less expensive? Also, a Realtor can help you locate a property that may be in a preforeclosure stage, which will make it more affordable for you. And the Realtor can assist you in finding a lender who can offer you reasonable loans, if you are credit worthy.
If the Realtor talks over you and doesn't perform as you ask, hire another one. And, get ready for good news!
2007-03-29 06:18:53 · answer #3 · answered by Venita Peyton 6 · 0⤊ 1⤋
buy a cheap studio flat
then in 2 years time sell it off and with that equity buy your 2 bed.
we all start small and work our way up
dont believe what some people say
house prices are not going to go down
it may, but u wont be here to see it
if u bought a studio and let it out for 2 years
the value will increase and your mortgage will get paid in the meantime
the incease in equity is always more than u can save just by working
this will help in the long run
good luck
2007-03-29 06:15:30 · answer #4 · answered by me 5 · 0⤊ 0⤋
Remeber, what goes up must come down. Keep on renting, save up for a down payment, prices are not going to be high forever...
2007-03-29 06:22:39 · answer #5 · answered by NC 7 · 0⤊ 0⤋
give me that money...
you will see, some body will offer u a free house of your dream.
2007-03-29 06:15:38 · answer #6 · answered by cool and simple 2 · 0⤊ 0⤋
Try buying with someone else...........not necessarily a friend but someone who you can provide references and financial commitment.
2007-03-29 06:15:41 · answer #7 · answered by hollyb20 4 · 0⤊ 0⤋