So You Want To Buy A House, But You Have No Money

photographed by Meg O'Donnell.
It’s no secret that millennials have been hit hard by the housing crisis. While many of our parents were scaling the property ladder by their mid-20s, young people today are struggling against the meteoric rental prices and stagnating real-wage growth that halt our hopes of homeownership in their tracks. With the average London tenant spending a staggering 49% of their income on rent, and headlines bemoaning the desperate state of the housing market at every turn, a white picket fence property – or at the very least, a one-bed flat with decent lighting and tolerable transport links – seems a distant dream.
If you’re longing to own a home but your finances are more small-room-in-a-houseshare than a place to call your own, don’t be dissuaded. As far away as a first mortgage payment may seem, there are plenty of ways you can lay the groundwork for a future purchase – starting now.

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