A three-bedroom semi detached house. The average price of this type of property is around £150,000. If you put down £5,000, this means that you’ll pay an interest rate of 4.3%.
A four bedroom terrace. A typical price for a terraced property is between £180,000 and £200,000. For example, if you were to buy a house in London for £190,000, then the total amount of your deposit would be around £9,500.
What Salary Do I Need to Afford a 250k House UK?
I have been working on this article for several months now. I wanted to make sure that I was giving you the best information possible so that you could get the most value from my advice. The first thing I want to tell you is that you don’t necessarily need a high paying job to be able to buy a nice home in the United Kingdom.
In fact, you can live very comfortably on an income of houses for sale less than £20,000 per year. If you’re wondering how much money you’ll need to earn, then you should look at the average salaries for different professions. For example, a nurse earns around £23,700 per annum. This means that you would need to work full-time to earn enough money to pay for a mortgage on a property worth £250,000.
However, you shouldn’t let these numbers scare you off. You still have plenty of time to save up before buying your dream home. In fact, it’s never too early to start saving. So, if you’re thinking about getting married or having children, then you might consider starting a savings account today.