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Fair - my point was not ‘you have to have this income to do this’ so much as ‘it’s actually pretty easy to spend a tonne more without it being some sort of super luxurious lifestyle”.
Have 2 kids, want a 3 bed in London with a garden for them to play in? It gets expensive quick
andyfallsoff-
Have 2 kids, want a 3 bed in London with a garden for them to play in? It gets expensive quick
According to this data (recent sales, just grabbed from home.co.uk), the median price of a 3 bed in London is £775k. How much do first time buyers need for a deposit? 10%?
You'll need £77k deposit and a combined household income of £174k to afford that.
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Very expensive but it’s a choice they opt for in the end.
Stonehedge
edscoble
I’m currently paying mortgages on a house with under the average UK income, the extra 30k or so (give or take with taxes) just mean I can pay it off sooner.