buying a house in the navy

sparkerbuntingnowcis

Lantern Swinger
By Key Worker do you mean the group of people who includ nurses, police officer and firemen etc? If so i think i have heard of this scheme, trouble is that the prices of these houses is still quite high, especially if you are looking to buy a house by yourself. But I guess being the navy would give you lost of oppertunities to save money up.

That's the one, as for saving that's up to you. You may have to be iron willed to stay in rather than go out in Pompey/Guzz again to the same pubs night after night.
 

Storky86

Midshipman
Well I will see what happens when I finish my trade training and hopefully get onto the market somehow. If other people in the navy can do it then there is no reason why I shouldn't be able to.
 

x4nd

Lantern Swinger
Storky86 said:
From the look of things there seems to be a big risk with buying property these days. Experts keep prophosising the collapse of the housing maket. It would be a big shame to buy a house to find that a year or so down the line the house has lost value. Maybe i should just buy a sports car or something instead?
what are the accomodation provided by the navy like?

If you buy property to live in (rather than rent out) and keep hold of it for 15-20 years, I doubt you’ll lose any money.
 

chockhead819

War Hero
Biggest mistake I ever made, had the chance to nuy a house in the 80s but bottled it, I thought £22,000 was too much. Saw a house on the same estate a while back now worth £150,000 :-(
 
Storky86 said:
From the look of things there seems to be a big risk with buying property these days. Experts keep prophosising the collapse of the housing maket. It would be a big shame to buy a house to find that a year or so down the line the house has lost value. Maybe i should just buy a sports car or something instead?
what are the accomodation provided by the navy like?
Totally ignore this post he is talking through his arse, get on the ladder asap, long term property is the best investment you can make, in stark contrast to buying a car which is about the worse
 
sparkerbuntingnowcis said:
By Key Worker do you mean the group of people who includ nurses, police officer and firemen etc? If so i think i have heard of this scheme, trouble is that the prices of these houses is still quite high, especially if you are looking to buy a house by yourself. But I guess being the navy would give you lost of oppertunities to save money up.

That's the one, as for saving that's up to you. You may have to be iron willed to stay in rather than go out in Pompey/Guzz again to the same pubs night after night.

One thing you can do is get something like an ISA or one of those bank accounts where you need to give some notice to withdraw money. I am no expert in these but my mum just got an ISA as a "rainy day" fund. If you set up a standing order with either you can put a bit away and then after a couple of years start looking. It may help getting a mortgage as well if you can show that you are financially responsible as well as having a regular income.

stab
 
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