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Neil Hallett
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Hey guys, I’m from the snowflake generation and I totally agree with what you’re saying. Tenants lifestyles don’t allow them to save but if they change their mindset, they will eventually get into the property ladder. I think during the next year or two however, saving a large enough deposit for anywhere down south will be impossible unless you have rich parents to loan you the deposit etc. A standard 2 bed terrace costs roughly £300k and I don’t know many that can find a £150k deposit. Up north however yes this is possible. You could save around £75k for a 50% deposit on a crappy flat down south, but you’ll be stung with maintenance and ground rent and a lease that’ll eventually expire.
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From: Neil Hallett
09 April 2020 08:34 AM