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Everything I’ve read suggests apple tree cuttings don’t take well. But neither does the insecurity of inner-city renting
Two Shepard avocado seeds balance on toothpicks in wineglasses of water on my kitchen windowsill. They have been there since April, when I was seized by some primal urge (home ownership, perhaps?) and decided I wanted to grow my own.
I got so excited when I saw a taproot growing from the bottom of one seed. It was happening! I lost myself in fantasies of huge, glossy houseplants. But then … nothing.
Continue reading...Everything I’ve read suggests apple tree cuttings don’t take well. But neither does the insecurity of inner-city renting
Two Shepard avocado seeds balance on toothpicks in wineglasses of water on my kitchen windowsill. They have been there since April, when I was seized by some primal urge (home ownership, perhaps?) and decided I wanted to grow my own.
I got so excited when I saw a taproot growing from the bottom of one seed. It was happening! I lost myself in fantasies of huge, glossy houseplants. But then … nothing.
Continue reading...Our desire to always go one better is natural but that doesn’t mean we should let it consume us with envy
Among our nation’s many long-term property woes is that British homes are not only becoming less affordable, they’re also getting smaller. However, news from over the pond suggests shoebox living may not be a problem after all. In the US, average house sizes have been growing but satisfaction with them has remained flat. Bigger just means bigger; it doesn’t mean better.
It’s just one study, but on this occasion the usual academic caveat of “more research is needed” is, well, not needed. Psychologists already know that we are compulsive comparators. Improvements to our own fortune don’t have any lasting effect unless they make us better off than those around us, not just better off than we were. Indeed, we often feel worse if we get more but see peers get even more still.
Continue reading...I’m worried that the repayments on my help-to-buy loan will count against me with a lender
Q I hope you might be able to provide some insight for me as I begin my (optimistic) search for a first property. I’m 26 years old and single and a couple of years’ ago, I received a £150,000 inheritance. I have sat on it since then but have finally come to the decision to buy a one-bedroom flat in London. I was renting until a month ago but am now back living with parents to give me a chance to save enough money for legal costs and furniture while I navigate my options.
I am also in the process of finding a new job and expect to have a salary of £32,000, once I have been in the job three months. So sometime in October or November I hope to be in a position to buy a property using the help-to-buy scheme. I expect to pay about £400,000 split 37.5% deposit, 37.5% help-to -buy and 25% mortgage. I’m nervous that although I would could get a mortgage of 25% of the value of the flat, there’s no guarantee that my salary will increase enough to cover the repayments when they kick in on the help-to-buy equity loan in five years’ time and this may effect my chances of getting the mortgage. I have separate funds that will cover the stamp duty and upfront costs and so on, so this is not an issue. I’m very lucky to have this deposit but due to my salary I’m not sure home ownership is available to me.
LH
