'I've inherited £15,000 aged 20. When can I buy a £350,000 house?'

[AtW]

Money Makeover: George Barton earns £17,000. Experts set out exact plans for growing his inheritance into a big enough deposit

From ToryGraph: 'I've inherited £15,000 aged 20. When can I buy a £350,000 house?' - Telegraph

The answer is NEVER ffs!

[vetran]

he wants a 4 bed nice area house (top 10% of houses) by 25 years old whilst earning less than 20% of top 10% wage.

hmm I would get another job.

[xoggoth]

I recently inherited over £50k. Looking for a small plot of land I can stick a caravan on. About all one can get these days unless you move to the CAR.

And about to inherit ?. Recently contacted by an heir hunter, genuine, not a Mr Ohurogoru from Lagos requiring a fee to "release funds", about an estate of my late mother's cousin. Hope she was a zillionaire.

[vetran]

read this :

He earns £17,500 a year as an insurance claims handler and lives with his parents in Halstead, Essex, where he pays £180 a month in rent.
He would like to buy a house in the same area worth around £350,000 in today’s money.
“I see myself buying a house in a quiet location in a small town,” Mr Barton said. “Ideally I would like to buy something similar to my parents’ property, which is a four-bed detached house.”
While he has no other savings or investments, Mr Barton said he can contribute an additional £100 a month towards his house deposit.

so he is getting approx £1500 a month, pays £180 a month in rent and he will struggle to save £100 a month out of the £1300 disposable income. Hardly living on Beans.

[LondonManc]

We'd have all liked a four bed detached at 20. I bought my first house, a two bed terrace, at age 23. I was on 14k a year and the house was £40k. Same type of house on that street now goes for about £120k yet a decent graduate wage hasn't trebled in the same timescale. House prices are vastly over-inflated but it's whether they ever deflate significantly or simply remain static(ish) until salaries catch up.

[PurpleGorilla]

I'm sure BOMAD will gift him another £50k to help him get his semi.

[DimPrawn]

We'd have all liked a four bed detached at 20. I bought my first house, a two bed terrace, at age 23. I was on 14k a year and the house was £40k. Same type of house on that street now goes for about £120k yet a decent graduate wage hasn't trebled in the same timescale. House prices are vastly over-inflated but it's whether they ever deflate significantly or simply remain static(ish) until salaries catch up.

Or help to buy is increased to 50% free lump sum gift from tax payer, and house prices treble over the next few years.

[AtW]

Under imminent Korbyn regime living in a house worth more than average will be considered as a Crime against People.

[DimPrawn]

I'm sure BOMAD will gift him another £50k to help him get his semi.

I've offered to buy step daughters free flats, they are not interested, it's footballer mansions or nothing. FFS they've already got five ponies and a new white Range Rover each.

[AtW]

I've offered to buy step daughters free flats, they are not interested, it's footballer mansions or nothing. FFS they've already got five ponies and a new white Range Rover each.

Are the footballers permies or contractors?