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You're earning 80k in this hypothetical situation.
His point is valid tho. I earn around the £50k a year mark and I struggled for a £10k deposit. The idea of a £50k one even with double my current money seems really unlikely.
ReekBlefs-
His point is valid tho. I earn around the £50k a year mark and I struggled for a £10k deposit. The idea of a £50k one even with double my current money seems really unlikely.
Your cost of living does not automatically increase if you suddenly earn more.
If you earn an extra £30k a year you'll take home an extra ~£20k a year. If you continue to live as you did on £50k/year then that £10k deposit becomes a £50k deposit with two years of not spending the extra you're earning.
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This is a disingenuous argument, if you maintain the same lifestyle that you had earning 50k at 100k you will be able to save far more cash.
Also, the chances of someone earning 80k not having either savings or already being on the property ladder, is more unlikely than them not being able to save 50k no?
Greenbank
mustardbeak
You're earning 80k in this hypothetical situation.