{"id":305,"date":"2018-03-02T11:14:14","date_gmt":"2018-03-02T11:14:14","guid":{"rendered":"https:\/\/www.propertyunder20k.com\/blog\/?p=305"},"modified":"2018-03-02T11:14:14","modified_gmt":"2018-03-02T11:14:14","slug":"moving-back-with-the-parents-to-save-up-for-a-deposit","status":"publish","type":"post","link":"https:\/\/www.propertyunder20k.com\/blog\/2018\/03\/02\/moving-back-with-the-parents-to-save-up-for-a-deposit\/","title":{"rendered":"Moving back with the parents to save up for a deposit"},"content":{"rendered":"

There is really no way around it, if you are planning to buy a home you will need to have enough for a 10% deposit.<\/p>\n

The way things go, you will need to save at least 20k to 30k before you can dream of getting a place you can call your own.<\/p>\n

Now the tricky part, unless you have a good \u201cparents bank\u201d to back you up, this sum may take years and years to put together.<\/h4>\n

In the meantime, you need to live somewhere and as we all know, rents can be quite hefty.<\/p>\n

Maths done, the solution can be quite simple, moving back with your parents.<\/p>\n

It\u00b4s not the end of the world. In fact it can be a very positive experience, and may give you the security you need before you embark on what will probably be the biggest journey of your live \u2013 buying a home.<\/p>\n

And moving back with your parents is not necessarily a sign of failure. Often one needs to give a step back to move forward\u2026and by the way you wouldn\u2019t be the only one.<\/p>\n

Research shows that more than 20% of 20 to 35 year olds are doing exactly this.<\/p>\n

Soaring property prices and stagnant wages mean that less people will ever afford to buy their own home or that they will have to do some serious sparing for a long time.<\/p>\n

Of course, moving back with the parents will not always be an option or not the right one.<\/p>\n

You may end up spending more money commuting between your work and your parents home than you would by renting a place closer to work.<\/p>\n

There are several other options to help you get on the property ladder without having to wait for years.<\/p>\n

There are a few government schemes available, for example \u201cHelp to buy loan\u201d, \u201cStarter homes\u201d or \u201cShared ownership\u201d.<\/p>\n

You can also consider join forces with a friend or two to buy a property together. Or you could go for a cheap renovation project and do it up.<\/p>\n

If you wouldn\u00b4t mind getting your hands dirty, here is where you can find lots of great renovation projects for 20k or less.<\/p>\n

www.propertyunder20k.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There is really no way around it, if you are planning to buy a home you will need to have enough for a 10% deposit. The way things go, you will need to save at least 20k to 30k before you can dream of getting a place you can call your own. Now the tricky … Continue reading Moving back with the parents to save up for a deposit<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[149],"tags":[173,174,175],"yoast_head":"\nMoving back with the parents to save up for a deposit - propertyunder20k.com<\/title>\n<meta name=\"description\" content=\"... the solution can be quite simple, moving back with your parents. 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