Estate agents Strutt & Parker have advised young people to make some interesting cutbacks in order to save enough money for a deposit to buy a house. According to the report shared by the Evening Standard, millennials could save enough money for a deposit on a house (currently around £64,000) if they cut out ‘luxuries’ such as takeaway meals, holidays, nights out, lottery tickets, mobile upgrades, and sandwiches, and that’s only if their parents could lend them an additional £30,000 to cover the rest of the costs.
Understandably, many people were astonished at the report and couldn’t help but notice that something wasn’t quite right; as a result, they made the discrepancies clear on Twitter:
Even if I had my favorite pret sandwich every day for a year, I’d only spent £1,642.50, which is nowhere near the £10,677 average deposit for a first-time buyer in London. So shh Karen. Buying lunch is not the problem here.
£5 lunch + 5 working days + 45 working weeks = £1,125/yr.
Average house price = £220,000
20% deposit = £44,000.
I only need to stop eating sandwiches for 39 years to get a deposit, easy! Silly millennials.
What do you think? Are sandwiches stopping millennials from being able to purchase a home?
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