How do you afford your first home?
Hey! I'm 27f with around £42,000 in ISA savings and £8,000 in personal savings. I am completely lost with whether we have the money or not to buy our first home. I earn £26,000 a year while my partner earns £24,000. We live in Reading and would look to stay here as this is where our family and friends are. We currently live with my partners parents.
I am originally from Wales, it frustrates me the cost of housing compared but that's that.
We don't want to rent. We looked at 'shared ownership' houses which are around £180-190k .. which we thought was doable, but having looked the description on these properties say they need someone with a combined income of £56,000. We feel very frustrated. I thought I had a decent bit of savings behind me to do this but it doesnt look like it!? We don't know where to start.