I live in a houseshare and whilst it has its merits in the sense of sharing the bills and having someone to automatically come home to and share a glass of wine with in front of some trashy TV, I’m beginning to grow weary. Weary of petty arguments, weary of cleaning other people’s mess, weary of other people’s friends and partners when you’ve had a long day and just need to not talk to anyone, weary of not enough kitchen cupboard space….. I think you get the picture. And this is by no-means an attack on my current housemates. I’m just 30 and beginning to crave my own space.
I think it’s always been ingrained into me that the thing to strive most for in your life is your own home. Financial security in bricks and mortar. My parents and family forwent other luxuries to pay their mortgage to keep a roof over our heads. My younger sister was on the property ladder at 23. And now, at 30 – it’s all anyone in my friendship group is talking about. I guess I’ve got a bit of a chip on my shoulder about it and I get a bit unnecessarily defensive when people are asking me “So, when are you gonna think about buying somewhere?” Errrrrr……. When I when the lottery, mate!
According to a recent report in the Evening Standard, first time buyers in London need an average salary of £106,000 to be able to purchase a property by 2022. OK… so maybe that’s doable if you split it into two salaries of you and your partner. But what about the monstrous deposit you need to be able to secure a mortgage. The only people I know who have been able to do so have been fortunate enough to be able to still live at home with their parents rather than paying rent. I worked out that in almost eight years of living in London I’ve spent roughly £48’000 on rent alone (an average of £500.00 month). That’s excluding utilities and bills. And I don’t even have particularly high rental costs. If you take all that into consideration, maybe I’d have enough to put a deposit down on a one bed flat in zone four – not that I’m complaining about that. I would genuinely love that.
OK, so I could rent a place on my own. However, again the prices are ridiculous. A studio flat in the same area as I live now starts at around £800 pcm without bills and that’s usually with sharing a bathroom and or kitchen space with someone else so still not my own space. And coming up to around £1000 or rent and utilities alone, how are we supposed to afford everything else? And save £1000+ a month needed for deposits. It’s exhausting trying to do the calculations.
Then there’s the non-refundable estate agency fees for finding yourself a rental property. I’ve been lucky that I’ve been able to avoid these so far by renting directly from the landlords. These alone can add up to a couple of grand including a deposit. I understand the logic of a deposit. If you return the home in the way you found it on moving out, you get your money back. If you’ve wrecked the place, then the landlord has some way of recouping the repair costs. But charging young people who are already busting a gut to pay ridiculous rental amounts and saving for their own places, money that they’ll never see again, is just crazy and unfair. Agency fees are also completed unregulated and can vary between different companies. In Scotland, they have been banned since 2012. Please sign this petition to try and help get them banned in England too. There is also a great website called www.openrent.com which is advertises properties to rent without agency fees.
I could always move away, to more affordable parts of the country, but I despite everything, I love living here. I want to settle and put roots down. If I have children, I want them to have more opportunities, to be able to experience more culture. I’m not asking for Made in Chelsea, Kings Road kinda life – just a chance to live comfortably in a city that I’ve made my home for the past eight years.
Right, I’m off to go buy a lottery ticket and dreaming of buying this house.
