If I’m honest I never saw myself owning property in my lifetime. I always thought I’d see myself renting or living at home forever. Earlier this year, my brother had the ingenious idea to purchase my dad’s house. I wasn’t even sure if my credit rating or finances were up to it…
As a single person I tend to spend a lot of my money on travel, food and overpriced things I don’t need. Having a property as I mentioned was never in my horizon as I never thought it was something I could ever acheive.
However, even though I tended to live life in the fast lane, living at home for the past few years has allowed me to save. Not only that, my older brother was in the same predicament as me too meaning that getting a mortgage was a natural step for us both and our family.
The whole process took a lot of paperwork and I don’t think I’ve signed so many documents in my entire life but all you have to think of is the end goal. My Pinterest boards full of interior inspiration can now come to life. I can finally take notice of those perennial sales on sofas and go to Ikea just for more than the food…
Some parents encourage their kids to move out and rent as soon as they finish university in order for them to start adulthood but mine let us stay because renting in London is ridiculous. For the amount you pay in rent and living expenses along with as travel, sometimes staying at home makes logical sense. I guess everyone has different experiences of how they got #ontheladder and whilst I never saw myself wanting property, I’m glad I now do. It’s security, an investment and symbolic of dedication and hard work.
Getting a mortgage is not a straightforward process and I strongly recommend you make yourself of all the hidden costs that go along with it. From solicitor’s fees to all other bits and bobs, make sure you clue yourself up beforehand before any nasty surprises come up.
I’m glad my brother and I had my parents support and stats from the Post Office show that a staggering 61% of parents help their child financially when they purchase a home. I know that won’t be the same for everyone which is why Post Office are lending a helping hand where you can win £1,000 to say thank you. All you need to do is tweet or post on Facebook the reason you are thankful to their parents with the hashtag #ontheladder. Are your parents letting you stay in the spare room rent free? Or perhaps they’ve lent you some cash to help you get started?
You can check out full details here, as well as all the blogger contributions to the campaign. You’ll need to get your entry in soon as the deadline is Thursday 30th November. Don’t forget to tag them on Twitter with the handle @postofficemoney. I’ll see you #ontheladder in no time.
Please note, this post is in collaboration with Post Office Money.