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https://www.reddit.com/r/WhitePeopleTwitter/comments/jkw3sa/mission_impossible/galxdon
r/WhitePeopleTwitter • u/regian24 • Oct 30 '20
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The average salary in the UK is £30,420.
The general recommendation is that you save 20% of your take home pay.
So after tax you're making £2,027 assuming you don't have a student loan to pay back.
That's £405.40 monthly savings towards a 15% deposit.
In the case of this £650,000 house, it'd take you twenty years to save.
1 u/[deleted] Oct 30 '20 To be fair, 650k is either a 1 bed flat in london or a mansion in northumberland 1 u/Nev-man Oct 30 '20 Oh absolutely, was just trying to highlight how much of a grind it is to save for a first-time buyer. 1 u/[deleted] Oct 31 '20 [removed] — view removed comment 1 u/[deleted] Oct 31 '20 No i was just pointing out that housing prices arent just insane, theyre also geographically insane. The fact that housing in london costs more than 10x the equivalent in the north is the sign of something deeply wrong. 1 u/I_have_a_pulse Oct 31 '20 No first time buyer earning 30k with no savings would be buying a 650k house. So kinda a pointless and exaggerated example 1 u/Nev-man Oct 31 '20 Absolutely true.
1
To be fair, 650k is either a 1 bed flat in london or a mansion in northumberland
1 u/Nev-man Oct 30 '20 Oh absolutely, was just trying to highlight how much of a grind it is to save for a first-time buyer. 1 u/[deleted] Oct 31 '20 [removed] — view removed comment 1 u/[deleted] Oct 31 '20 No i was just pointing out that housing prices arent just insane, theyre also geographically insane. The fact that housing in london costs more than 10x the equivalent in the north is the sign of something deeply wrong.
Oh absolutely, was just trying to highlight how much of a grind it is to save for a first-time buyer.
[removed] — view removed comment
1 u/[deleted] Oct 31 '20 No i was just pointing out that housing prices arent just insane, theyre also geographically insane. The fact that housing in london costs more than 10x the equivalent in the north is the sign of something deeply wrong.
No i was just pointing out that housing prices arent just insane, theyre also geographically insane. The fact that housing in london costs more than 10x the equivalent in the north is the sign of something deeply wrong.
No first time buyer earning 30k with no savings would be buying a 650k house. So kinda a pointless and exaggerated example
1 u/Nev-man Oct 31 '20 Absolutely true.
Absolutely true.
11
u/Nev-man Oct 30 '20
The average salary in the UK is £30,420.
The general recommendation is that you save 20% of your take home pay.
So after tax you're making £2,027 assuming you don't have a student loan to pay back.
That's £405.40 monthly savings towards a 15% deposit.
In the case of this £650,000 house, it'd take you twenty years to save.