Buying your first home seems like a daunting task for so many people across the country, with house prices steadily increasing, cost of living issues and people struggling to regularly add to their savings. We’re speaking to one lady who was forced to wait until she was into her 40s until she was finally able to buy her first home.
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00:00Because it is so difficult and everything is so expensive at the moment and I think
00:06that's the way that I would do it.
00:08Bethan says it was a really difficult job getting onto the housing ladder and didn't
00:12expect to be in her 40s by the time she managed it. But with plenty of time and effort, spreadsheets
00:17and cutting back, buying a house can happen even after years of trying.
00:22Rent is so high now and rent in London has always been really high. We've moved back
00:28to Cardiff and I've bought in Cardiff now, but even rent in Cardiff is really high as
00:32well and it's so difficult to be able to save. But what I do personally is I look at all
00:38my incomings and my outgoings, which is a really boring job, but I've got a spreadsheet.
00:42I can't do the budgeting apps, they don't work as well for me. And then I literally
00:47put aside, work out what disposable income I've got and then try and put aside maybe
00:5510% or 20% depending on what the outgoings are like that month.
01:02Bethan knows how hard it is for people, with buying a house feeling like such a far-off
01:05prospect for so many of us. But she just hopes that there might be some light at the end
01:10of the tunnel.
01:11I massively, massively sympathise. I think in London, the average person getting on the
01:19housing ladder is in their 40s. In the rest of the UK and I think in Cardiff where I am,
01:26it's sort of like mid-30s, I think. And it can feel like it's such a long way off, but
01:33you've got to be quite disciplined with yourself, which is really difficult. But also not give
01:41yourself a hard time because it is really difficult and just try and save slowly, slowly
01:45and then hopefully the economy will pick up in the next few years now and mortgages, mortgage
01:53interest etc. will go down because that's what's making things really unaffordable for
01:57people as well.