07 August 2007

Housing

I realized that I am very lucky because I married a man who lived at home into his 30s to save tons of money and who had parents who helped him out in buying his first flat. So we're on the market already in a good way. And two bed flats with two bathrooms are hot on the market. I have a good salary (especially for a teacher over here), which will add enough to his current mortgage (which is VERY low luckily) that we may be able to buy a small house or a larger flat with a garden in the area we currently live in.

Now - this area is not the best area in London by a long shot nor the one we wish we could live in (that would be West Hampstead or Hampstead), but it's also not bad and it's reasonable (compared to other locations around it). There aren't any good restaurants or pubs to hang out in (especially for a multi-racial couple), but we can get to the ones we like in 10-15 minutes on public transport. We will most likely live a little further out from the center of town and a bit further from the transport we both use, but it will be worth it to get the space and back garden (yard in American). The key for me is that I feel safe enough here to walk around late at night coming home from field hockey practice, so I feel comfy enough to raise a family here.

The thing is, right now the average place to live in London is over 300,000 pounds. With an average salary of 25,000 pounds...well, it makes it a bit crazy doesn't it? Most people will have to live in rented places or with their parents for most if not all of their lives. And housing prices will keep rising according to the media. So if we want to move up that ladder, then we have to do it now. It's a lot of pressure. I just feel lucky that we are in the position we are, to on the ladder, no less able to maybe get something even bigger, as I know many others aren't. I'm blessed and I don't take that for granted, ever.

p.s. Have to add..if we sold our flat here and moved to my hometown, with the exchange rate we could literally buy a HUMONGOUS house..I looked online. I could actually buy a huge house with lots of land over there. It's gross. But I'd rather live in London. Cause I love it!!

1 comment:

Lindy said...

I know exactly how you feel. S bought his house 10 yrs ago before the housing market went nuts. We have a tiny mortgage and that allows me to stay at home w/ Squidge. We are in the process of getting planning permission for a 2 story extension - new kitchen and bigger bedroom for Squidge. It's the cheaper option for us. S makes decent money but we still couln't afford to live in this area- it's one of the most desirable locations in Manchester. Not that I had much to do w/ the location he chose to buy but I am glad he chose this area. Great pubs/restaurants, good schools and loads of parks. When I went home this summer I checked out the housing prices and it was totally depressing. We could buy a huge house w/ lots of land and still have money left over!! I don't know how you London folks do it- housing prices are unbelievably high. Good luck!!