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Red Herring · 16-04-17, 07:16 AM

My wife and I bought our first house back in the 80's with a modest mortgage but attracting 15% interest (those were the days!). We made a promise then to base our lifestyle and commitments around just my salary as we were planning kids and her income would therefore be variable and it was the best move we ever made. We saved pretty much all she made and when we moved to our second home we hardly had to top the mortgage up at all, likewise when we moved to the next house, which is where we still are today. It meant lean years at first which was hard when my mates were taking foreign holidays and driving round in new cars but after 15 years we were mortgage free and I'm sure reaping the benefits now.....

Having said all that I can see how hard it would be for kids to repeat that now. The cost of even starter homes here in the south is just plain daft but they also live in a society of must haves with a have it now, pay sometime later attitude.

16-04-17, 07:16 AM	#15
Red Herring Member Mega Poster Join Date: Dec 2007 Posts: 2,708	Re: joined the property ladder My wife and I bought our first house back in the 80's with a modest mortgage but attracting 15% interest (those were the days!). We made a promise then to base our lifestyle and commitments around just my salary as we were planning kids and her income would therefore be variable and it was the best move we ever made. We saved pretty much all she made and when we moved to our second home we hardly had to top the mortgage up at all, likewise when we moved to the next house, which is where we still are today. It meant lean years at first which was hard when my mates were taking foreign holidays and driving round in new cars but after 15 years we were mortgage free and I'm sure reaping the benefits now..... Having said all that I can see how hard it would be for kids to repeat that now. The cost of even starter homes here in the south is just plain daft but they also live in a society of must haves with a have it now, pay sometime later attitude.