What would you do to move up the property ladder?

We really like this article that appears on the Moneyfacts.co.uk. It reports on a survey carried out by Nationwide that asks homeowners how far they would go to be able to afford a move from their first (bought) home, up the property ladder into their second home.

Apparently….

  • 55% would forgo nights out
  • 48% would sacrifice eating
  • 33% would cut holidays or weekends away.

Very interestingly –  22% of men and 7% of women would even give up a spouse or partner to move up the property ladder!

In contrast, 21% weren’t willing to forgo anything at all, with 35% holding out for their dream ‘second’ home.

Top barriers for people looking for their dream second home included the ability to find a home that’s within budget (38%) and finding a home in the right location (25%). As a result, 21% are stuck in a house that’s too small for their family and 16% are in an area they don’t like.

A very resourceful 88% of those surveyed would consider buying a property in need of renovation if it was cheaper.

What would you give up (or not!?) in order to achieve your dream home?

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Source: Moneyfacts – 19th March 2018