Ben Sledge 17th February 2018
House prices rising, wages stalling, millennials working two, three jobs at a time to pay the bills, you know the sitch.
We’re so tired of seeing articles about some 23-year old arseholes who managed to save £50k to get on the property ladder — with the fact they inherited 20 grand, lived for free with parents for six years and earn £150,000 a year, mere footnotes.
A recent report showed that middle-income earners have had the biggest decline in homeownership amongst 25 to 34-year olds, so we set out to find five houses from around the UK for which a normal person could realistically save up enough to pay for the deposit.
We reckon that you could probably save up about five grand for said deposit if you were really strict for a couple of years, meaning that the ideal house could be worth a maximum of £50,000. This would leave you with a sweet monthly mortgage repayment of £236 on a 25-year mortgage with 3.9% annual interest. With this in mind, here is what we found:
You really are paying for the location with this flat, as it looks pretty small and in a fairly average condition. It would be best described as functional, rather than homely, but I’m sure with some imagination and a little creative flair, it could be made your own. Plus you get to live in Liverpool.
Home of one of the greatest bands of all time, Atomic Kitten, the city has a thriving music and bar scene, so this flat in the heart of it all would be perfect for a partying music lover.
An easy-going attitude would probably help to live here, as it seems like the kind of place that could have easily be forgotten (read: ignored and neglected) by previous landlords and/or tenants. Expect the unexpected is all I can advise.
This has probably been marketed towards students, as communal washing facilities and a larger kitchen are provided in the building, but I could see a single person looking for short-term living space fitting in well. There probably isn’t enough space for a couple to live “properly” here, but if you just want to live life to the full and enjoy what you do more than where you live, or if you’re really desperate to never see a copy of The S*n ever again, this might be the place for you.
⭐⭐ – great location, not-so-great place.
I never knew I wanted to live somewhere that has a proper castle before now. But now I realise that this is an option, I really do. The opposite of the Liverpool flat, this £45,000 apartment is situated in the quiet castle town, of Harlech. It appears to be spacious and modern.
Maybe the £500 you save on the deposit for this place could go towards buying a bed, a sofa, a telly, a table, some chairs, a wardrobe, a desk, and a takeaway for when you realise you’ve been too busy to do a food shop. Okay maybe that’s unrealistic, but maybe there’s something to say for the fact that this house is five grand less than all the others on this list.
This is ideal for those of you wanting a quieter lifestyle, or maybe that niche population who have just received a job offer to work at Harlech Castle and need somewhere nearby to live. Finding things to do will be considerably harder here than in Liverpool, but that’s Wales for you. Easy access to the Snowdonia National Park could make for great walking weekends, scenic drives, or exploring in general, all starting from a seaside base.
⭐⭐⭐ – Outdoorsy? Quiety? History-y? This could be for you.
This is a lovely house, although saying it has two bedrooms is a bit generous, looking at the size of that box room. Could be better used as a games room, plug in the Xbox get a big telly and all that. Lovely. And before your friend/partner/housemate/other says anything, there is already a study, and no house needs two studies.
The terraced house comes equipped with its own garden (of sorts), which, although being grassless, is perfect for summer drinks or barbecues. Get rid of the fake grass to expose the decking underneath, grab a few plants to dot about, invite your friends and throw another shrimp on the barbie! While great in summer, this area will probably go unused throughout the bleak Yorkshire winters, unless you can think up some ridiculous plan, and if so, kudos.
While it is an auction with an estimated price of 50 grand, and therefore could go for more (or less), it is definitely worth a look. Bradford is an up-and-coming city with a bustling vibe, hosting a brand new IMAX cinema, the award-winning National Science and Media Museum, and a knock-off version of Nando’s that I drove past once.
⭐⭐⭐⭐ – Simply fantastic.
Choose life. Choose Scotland. Choose a house. Choose a two-bed in East Kilbride. Choose a fucking big television. Choose washing machines, cars, compact disc players, and electrical tin openers. Choose wood-effect flooring and stone-effect wallpaper. Choose good health, low cholesterol and dental insurance. Choose fixed-interest mortgage repayments of around £236 a month after an initial deposit of £5,000. You get the picture.
Trainspotting comparisons aside, East Kilbride sounds like the best place to live in Scotland. You get the benefits of living near a big city, without having to tell people you live in Glasgow. You get to be in Scotland with free prescriptions, but don’t have to pay Edinburgh housing prices. The local area is nice, and the house is beautiful. I have a feeling the “bare stone walls” could be a printed wallpaper, but it still looks pretty decent to be honest.
I get it, you’re worried that maybe you’ll get mocked for not having a Scottish accent? How about maybe you don’t care because you can stay indoors on your huge corner couch? Who knows? Who cares? I don’t know why the bathroom mirror has big black spots as a part of its design, but mirrors are a tenner from Wilko’s, so treat yourself.
⭐⭐⭐⭐ – I swear I’ve got a kilt somewhere…
Yes, you read that right. London. £50,000.
It’s a houseboat. Whilst that means it won’t be the most spacious of our list, it is one of the most beautifully decorated. 1 bed, a cosy vibe, and bare wood panels for days, it’s simply dreamy.
Currently moored in Canary Wharf, mooring fees are something to be wary of, as they will push your monthly payments up, but who wants to be around all those suited bankers anyway? You can moor pretty much anywhere, and pay less than at Canary Wharf, but if you fancy it, then stay put. That’s the beauty of this house; if you want to relocate, you just can!
Whether a fan of the alternative lifestyle, looking for the cheapest place in the centre of the capital, or a wannabe pirate, houseboats are becoming increasingly popular choices for youth housing in the UK, and especially London. This particular houseboat only has one bed, but a suitably minimalistic couple could survive here with nothing more than their love for each other and the gentle rocking of the waves.
A word of warning should perhaps be in order for those returning from a night out, as many a kebab will be consumed by the murky depths of the Thames, consigned to feed those poor souls languishing in Davy Jones’ locker. Perhaps a hotel for the night may be a more pertinent choice for houseboat owners who can afford to get rotten drunk in the centre of London.
While a more expensive option, this is THE most affordable way of living in the capital, and for the right person, could be a dream come true.
⭐⭐⭐ – kooky, quirky, potentially pricey.
Ben Sledge 17th February 2018