My First Step on the Ladder

Being an Estate Agent, I got to see a lot of Properies, Lavish properties, Run down properties, literally everything, you name it, i'd seen it. However my focus often fell on to the people who were actually buying. Especially the ones who were my age who seemed to have their whole life together.


What were they doing to be able to afford a property at this age. How much were they earning, what did they do. Who was helping them. Some were buying as couples, some had help from their parents, but it was the buyers who brought on their own that intrigued me. How on earth did they manage to save so much. With Deposits ranging anything from 5% to 25% of property prices and then applying that to London property prices, you're looking at anything from £20,000 upwards. 

Living at home, I didn't have any real desire to move out, I was comfortable with very little outgoings, I had a car from my company and just had to fund my phone bill and social life. It was definitely an easy life (one that I really do miss at times), A few months in to my role I thought about saving. Not for anything in particular, but just thought it was a good idea to put money aside. I aimed to save £1000 a month for 2 years. (In theory I should have had £24,000). 2 Years later I was at £17,000 and thought, what do I do with this. How could I get this amount to make me more money. I thought about starting a business with it, but was scared about the risks of losing such a large sum. 

I thought about it, and actually I was working in one of the most profitable investment sectors, I'd seen people make £30-40,000 because house prices rose, no matter the state of their house. After seeing one of my colleagues buy. I thought, Why can't I buy? well actually, my earnings were inconsistent, where could I afford and could I even get a mortgage?

Well actually I found answers to all of these questions and was able to buy. But what people don't always take in to account or are aware of are the financial implications and they don't always do a full assessment on themselves before moving forwards.

Have a look at my other post for some key things to look at before you buy.

Natel Allen