[Finance] Take home pay.

[Herr Tubthumper]

Why are you limiting your choice of where to live, to a 3 mile radius? Is it essential to buy a house rather than renting"

He’s working 60 plus hours a week, maybe they want to stay where they are so they do commute? Friends? Family? Like where they live? Kids at school? Lots of reasons so I can understand wanting to stay in the area. And given exorbitant rents and the fragile nature of renting it probably is essential to buy if he/she wants some stability?

 

[spongy]

Why are you limiting your choice of where to live, to a 3 mile radius? Is it essential to buy a house rather than renting"

ive used 3 miles as an example of where i am now but yes it is. I don't want to move away from mine or my wife's family. or all our friends

We started renting here when we fell pregnant with our little girl 3.5 years ago. our rent was 800 a month. every year its gone up. we now pay 1000. my wife works as a civvy in the police so she hasnt had a pay rise in 7 years.

I'm lucky. this year i had a rise of 3%. that is nowhere near to covering the rise so we are always cutting back to afford the rent.

My landlord used to live here. he wanted to live with his mrs so rents this place to us and has turned this mortgage into buy to let so be can buy a new place with his mrs.

I am buying this flat for him. i could live here for 20 years until the mortgage is paid off. as unlikely as it is that i could afford to live here for that long with these rises.

there is nothing stopping him changing his mind and selling it giving us 3 months notice to move out. we've just put our daughters name down for her first school down the road. she's just making her first friends in life at nursery locally. If we have to move it will cause us so much stress and unsettle everything I have worked so hard for for the last 3 years. we now have friends locally. we'll have to leave all of it bebind to move elsewhere to keep a roof over our heads.

I'm paying a lot to live. id like it be towards somethi g i own rather than to buy someone elses place for them.

What I pay in rent is more than friends I haves mortgages yet they get to keep it at the end. i dont. I'm absolutely dreading the new rental agreement next May and wondering how much it's going to go up by and trying to think of what else i can get rid of to afford it.

What happens when I retire? if I get to that age? what will the retirement age be? 70? 75? I only have the work based pension that started for me last year. thats not enough to cover rent when i retire is it? if I don't own my own house then the what do I do?

I just want to do for my little girl what my dad did for me but I can't. it makes me feel inadequate as an adult but most importantly as a parent.

 

[Thunder Bolt]

He’s working 60 plus hours a week, maybe they want to stay where they are so they do commute? Friends? Family? Like where they live? Kids at school? Lots of reasons so I can understand wanting to stay in the area. And given exorbitant rents and the fragile nature of renting it probably is essential to buy if he/she wants some stability?

Yes I understand that, but it's also stressing him badly, which was why I asked if there were alternatives.

 

[spongy]

thanks. I was writing when you posted.

 

[Thunder Bolt]

ive used 3 miles as an example of where i am now but yes it is. I don't want to move away from mine or my wife's family. or all our friends

We started renting here when we fell pregnant with our little girl 3.5 years ago. our rent was 800 a month. every year its gone up. we now pay 1000. my wife works as a civvy in the police so she hasnt had a pay rise in 7 years.

I'm lucky. this year i had a rise of 3%. that is nowhere near to covering the rise so we are always cutting back to afford the rent.

My landlord used to live here. he wanted to live with his mrs so rents this place to us and has turned this mortgage into buy to let so be can buy a new place with his mrs.

I am buying this flat for him. i could live here for 20 years until the mortgage is paid off. as unlikely as it is that i could afford to live here for that long with these rises.

there is nothing stopping him changing his mind and selling it giving us 3 months notice to move out. we've just put our daughters name down for her first school down the road. she's just making her first friends in life at nursery locally. If we have to move it will cause us so much stress and unsettle everything I have worked so hard for for the last 3 years. we now have friends locally. we'll have to leave all of it bebind to move elsewhere to keep a roof over our heads.

I'm paying a lot to live. id like it be towards somethi g i own rather than to buy someone elses place for them.

What I pay in rent is more than friends I haves mortgages yet they get to keep it at the end. i dont. I'm absolutely dreading the new rental agreement next May and wondering how much it's going to go up by and trying to think of what else i can get rid of to afford it.

What happens when I retire? if I get to that age? what will the retirement age be? 70? 75? I only have the work based pension that started for me last year. thats not enough to cover rent when i retire is it? if I don't own my own house then the what do I do?

I just want to do for my little girl what my dad did for me but I can't. it makes me feel inadequate as an adult but most importantly as a parent.

Thank you. The rent situation is horrendous and I can understand your anxiety that it will rise again.

 

[spongy]

Thank you. The rent situation is horrendous and I can understand your anxiety that it will rise again.

and yet you ask if there's alternatives. yes there are. I could leave this place, uproot everyone. leave everything i have grown to like about my life behind and that ive worked for and move to somewhere cheaper. then start the whole process again.

or I can stay here, work myself to exhaustion and be in the same position.

but my little girl will have the illusion of stability in her life. I shall just carry on shouldering this burden as long as shes ok.

but that's not right is it? Or should I just be a man, suck it up and carry on like everythi g is ok?

 

[Shropshire Seagull]

Ahh, a thread about the old work/life balance chestnut ....

[MENTION=20792]spongy[/MENTION] did 10 extra hours overtime and saw just £45 in his pocket - if overtime is 0.5 rate and he's earning over £45k this indicates his hourly rate is about £15, if he's earning less than £45k this indicates his hourly rate is £11.26

First point is quality of work over quantity - you need to be worth more per hour.
Second point: when I do overtime, it's either at time and a half, or double-time for Sunday/Bank-holidays - if I was only offered 0.5 [for the reasons [MENTION=20792]spongy[/MENTION] has highlighted] I'd not bother ...

For £45 I'd rather have 10 more hours to myself / family

 

[Justice]

The government don't really want average joe to get on in life well especially the Tories. They like to have millions on PAYE as they are guaranteed money every single day. It wouldn't suit if everyone was self employed the country would go bust.

If someone has a track record of never being late with rent payments for a number of years why not give them there own house with a mortgage still pay they grand a month, pay back the lent deposit back to the government over a period plus the mortgage. Would work out the same or less per month than renting most likely.

This wouldn't suit MPs though as they all have there noses in the buy to let trough. Give the younger generation no hope whatsoever is the way to go greedy idiots run this country take take take.

 

[spongy]

Ahh, a thread about the old work/life balance chestnut ....

[MENTION=20792]spongy[/MENTION] did 10 extra hours overtime and saw just £45 in his pocket - if overtime is 0.5 rate and he's earning over £45k this indicates his hourly rate is about £15, if he's earning less than £45k this indicates his hourly rate is £11.26

First point is quality of work over quantity - you need to be worth more per hour.
Second point: when I do overtime, it's either at time and a half, or double-time for Sunday/Bank-holidays - if I was only offered 0.5 [for the reasons [MENTION=20792]spongy[/MENTION] has highlighted] I'd not bother ...

For £45 I'd rather have 10 more hours to myself / family

It's time and half. I wouldn't do it for 0.5 time.

The government don't really want average joe to get on in life well especially the Tories. They like to have millions on PAYE as they are guaranteed money every single day. It wouldn't suit if everyone was self employed the country would go bust.

If someone has a track record of never being late with rent payments for a number of years why not give them there own house with a mortgage still pay they grand a month, pay back the lent deposit back to the government over a period plus the mortgage. Would work out the same or less per month than renting most likely.

This wouldn't suit MPs though as they all have there noses in the buy to let trough. Give the younger generation no hope whatsoever is the way to go greedy idiots run this country take take take.

I signed a petition on something very similar recently and they actually debated it. fat good that was.
http://parliamentlive.tv/Event/Index/6dfc8ce4-c3f1-49e7-aad8-21aadd81afb4

 

[happypig]

We started renting here when we fell pregnant with our little girl 3.5 years ago. our rent was 800 a month. every year its gone up. we now pay 1000.

Can you not borrow the deposit from a relative ? When I bought my first flat (30 years ago) I borrowed the 10% deposit from my mum.
Look at the cheapest place you can afford that will meet your needs, you can always move up in a few years.