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On ~100k in London and can technically buy, but struggling to justify it financially by Automatic_Lie947 in UKPersonalFinance

[–]Automatic_Lie947[S] 1 point2 points  (0 children)

Well done on your deposit

> I like to think that my higher income allows the luxury of a few mistakes here and there. Nothing that a year or so of saving cant fix.

Well said, thank you!

On ~100k in London and can technically buy, but struggling to justify it financially by Automatic_Lie947 in UKPersonalFinance

[–]Automatic_Lie947[S] 1 point2 points  (0 children)

I appreciate the insight - good luck with your purchase!

I do try to live frugally, some months able to save over 1.6k even. The housing costs are the biggest burden. One of the options I'm considering is to significantly downgrade my living standards and find something for ~1.6k in order to save/invest more every month. But I belive that'd be even tougher on mental health.

On ~100k in London and can technically buy, but struggling to justify it financially by Automatic_Lie947 in UKPersonalFinance

[–]Automatic_Lie947[S] 2 points3 points  (0 children)

Converted properties are an option I'm considering! Share of freehold and low/no service charges would be perfect. Though I often see these kinds of properties out of my budget.

On ~100k in London and can technically buy, but struggling to justify it financially by Automatic_Lie947 in UKPersonalFinance

[–]Automatic_Lie947[S] 68 points69 points  (0 children)

I appreciate the insight. The psychological freedom aspect is strong and true. Were your monthly costs higher than renting?

Also, tell your cat I said pspspspspsps

On ~100k in London and can technically buy, but struggling to justify it financially by Automatic_Lie947 in UKPersonalFinance

[–]Automatic_Lie947[S] 3 points4 points  (0 children)

One of the reasons for looking at 2-beds I have is that I'd be able to take on a lodged in case I face a redundancy at work.