I read an article saying it takes 10 years and 3 months to save a deposit as a first home buyer in the UK and I imagine there are the same stories running in other countries as well.
BS...besides the government schemes which help first home buyers the article ignores the power of goal setting. Once you set the goal you watch how quickly you can attract things to you.
So if you're thinking of saving for a first home, ignore these type of articles probably written by a PR company to get printed.
Go out and get your home...
Video Transcription:
Hey guys, Brett's Property Rants. Just reading an article about that it's now going to take ten years and three months for the average first-time buyer to save for a deposit, which I think is absolutely ridiculous. Now let's look at this. If you do a pure mathematical equation where you say right, this is the average deposit, this is the average wage, how long is it going to take on a straight line method to do that, that's what it's going to take. Ten years and three months, it's like what a load of crap. Fine, mathematics I'm sure works very well, but in reality that's rubbish.
There are government schemes, there's help to buy, which means you only need to get five percent together plus some costs. Those costs are limited because of stamp duties and things like that so actually I don't think it's anywhere near that. What I mean by that is look yes, if you are just going to follow the mathematics then fine, but you know what? If you set a goal and you do what you need to do to get that goal you can do it a lot quicker than that, so don't be disheartened by these crappy, stupid, freaking things coming out as if they're trying to make out how hard it is. It is still relatively easy to get on the property ladder.
Yes you have to be disciplined, yes you have to do some savings and it's not going to be a three-month thing, but you know what? Ten years, absolute crap, okay, so don't believe that BS that's written in the papers. So much is about advertising, it's not about reality. If you want reality, set the freaking goal and go out and get that house that you want, but what I will say is it may not be the house that you ultimately want to live in, the one that social media says you have.
It's probably going to be in an area where you've got to actually travel to work, where you've got to go a bit further out, where you can afford. What I would say is, it's going to be a lot better for you to get on the ladder quicker and watch the capital grow than to sit around and wait for ten years and miss a whole cycle of the market. That's ridiculous. Be careful reading this absolute bull crap. All right guys, have a great day, live with passion and get on the ladder as soon as you possibly can because it's such an important step to everything.
You know, once you get your first property, whether it be an investment or whether it be your home, things settle down, you start to realize, you start to almost be an adult. It's the biggest step in becoming an adult. So many of my mates, when they've got a house all the sudden they're able to settle down because they've now got something of substance and they attract the mates. If you want dating advice, get a house. There are so many things that when you get a property under your name and you work for it, not be given to you. You've got to get some discipline, savings, which I totally agree with but ten years is rubbish.
All right guys have a great day. Live with passion. See you later.
