Am i going to be paying rents for the rest of my life??
Answer:
Right now, real estate prices are very high, because the interest rates are low. Im not sure about the London market, but Im sure its high because of this, as well as being generally expensive.
London is generally outrageously expensive, disregarding the low interest rates currently. I remember reading that Madonna was even complaining about them!
What is the way out of this? Invest, and wait.
Take a small amount of savings, maybe 1000 pounds/dollars and invest in underpriced stock. Double it, sell it, and double that result it again, and so on.
10 doubles, and you could turn 1k into 1 million. This is the magic of compounding.
I see no other way out of the rut. Seriously.
It sounds wild, but its definitely possible.
Hope that helps.
I understand. I have been trying to buy a house and getting the initial down payment is the hardest part.
Finding a house in my price range is proving difficult as well. Since the new container port went in the cost of housing has sky rocketed !
All I can say is keep trying. It takes time.. but keep saving your pennies and one day it will come together.
I know it gets frustrating and discouraging at times. Believe me I know. But it will happen.
maybe not tommorow, but it will at some time.
when our expenses is almost the same amount of our monthly wages, it is very difficult for us to save much money to buy properties. I really understand on how you feel.
The only way out is to do more than 1 job to be stronger financially. Work at home after your working hours or during weekend. go for the internet business which requires less of your time and the one that will not make you feel headache with web designing, or which require IT knowledge. Second, choose the internet based company which offer you the opportunity and at the same time giving you the convenience to start the business. Third, choose the business, which does not require big money to start it.
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Remember, You CAN'T guarantee whether you will get many fish or not by spreading your net into the sea, but u CAN guarantee that there is no fish at all if you never spread your net into the sea.
If you want some serious help email me with your questins and Ill awnser them to the best of my ability, which will be pretty insightful since Im a Sr. Loan Officer with my company and have been working in the mortgage field for about 6 1/2 yrs!
if you ready to buy your first house, you just ready. try to find the best agent, the best loan officer and if you understand the whole process- should not be the big hassle for you. remember to surround your self with the best people you can find , and everything will go the way it's suppose to go
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