The Lengths we go to get on the property Ladder

Brits are going without alcohol, working a second job and even cutting their own hair in a desperate bid to save for a house deposit, it emerged yesterday.

A study of 2,000 people who are currently saving for a house deposit or have managed to buy in the past three years examined the lengths savers are going to in order to get on the property ladder.

More than half scrapped their annual break abroad, while one in four delayed having children in order to focus on getting that home first, results showed.

While taking packed lunches to work, swapping the car for a bike and taking packed lunches to work were also common sacrifices and appeared on the list of 40 common sacrifices when saving for a house deposit.

A further quarter of those polled stopped placing money into their pension in order to raise as much funds as possible, while cuts to any luxuries in the food shopping were common.

The research, which was commissioned by Housing Association Family Mosaic found one in seven got a second job to try and pull together enough for a deposit.

Yesterday a spokesman for Family Mosaic said: ‘’The study shows just how far people are going in pursuit of their dreams of becoming a property owner.

‘’In the current climate, many are struggling to get a deposit together and the list of sacrifices shows how people are cutting down in almost all areas of life in a bid to reach their goal.

‘’It’s clear how we put other areas of life on hold in order to meet these goals and that, even after all of the efforts made, so many still feel they won’t ever manage to afford a place of their own.’’

Also on the list of most common sacrifices was switching to a cheaper supermarket and turning to public transport over using the car.

Others opted to cut out takeaway coffee, buying lottery tickets and even started growing their own vegetables to save cash.

While cancelling date nights with the partner, getting rid of satellite television and downgrading the monthly mobile phone contract also featured on the list of the 40 most common sacrifices.

The study also found those still trying to save estimate it will take them the best part of four years of hard saving and sacrifice, with the average estimate three years and ten months.

Over a third said their entire life-savings formed their deposit, while nearly a quarter were able to put some inheritance money towards it.

A fifth of people who have recently acquired or are currently in the process of saving have been helped out with money from their parents.

Unfortunately and despite their best efforts, over a third of those still saving for a deposit are doubtful as to whether they’ll actually get there.

While nearly one in five are adamant they won’t ever be able to save enough to achieve their goal of being a homeowner.


No surprises then that over half the 2,000 polled said they had at one point seriously thought about giving up the efforts to save.

The Family Mosaic spokesman added: ‘’It can seem daunting and is sad to see so many people trying to find their deposit have had the thought of giving up.

‘’If you don’t have that helping hand, whether from parents, grandparents or inheritance then the prospect of becoming a homeowner can be a distant one. This is why we are immensely proud of the Shared Ownership scheme. Every year we help more and more people get on the property ladder in London and aim to demystify the impossibility of being a homeowner”.

As a government backed scheme, Shared Ownership is designed as a stepping stone to owning your own property. Targeted towards first time buyers, customers are able to purchase a share of the property, and pay a subsidised rent on the remaining portion.

The Family Mosaic spokesman finished: “With headlines often dominated by negativity of buyers unable to purchase a home in the capital, Shared Ownership is playing a vital role in helping more people step onto the property ladder.


There is still some way to go however to help more consumers understand the initiative and its benefits – crucially that purchasing through Shared Ownership requires a much smaller deposit than buying on the open market.”




  1. Taking lunch to work
  1. Not having meals out
  1. Stop having takeaways
  1. Not going out on the weekend
  1. Not taking the annual holiday
  1. Stop drinking alcohol
  1. Not buying any new clothes
  1. Switching to cheaper food brands or cheaper grocery stores
  1. Shopping in discount stores
  1. Not going to the cinema or theatre
  1. Having a holiday in Britain instead of abroad
  1. Giving up luxury treats, food treats, goodies
  1. Selling some possessions on Gumtree, eBay or at a car boot sale
  1. Growing your own vegetables
  1. Not treating partner/ loved ones to expensive gifts or nights out
  1. Stop buying your morning coffee from your local coffee shop
  1. Dying / Colouring your own hair instead of at the salon
  1. Getting your hair cut at a cheaper salon
  1. Not getting drinks rounds in
  1. Buying less expensive make up
  1. Switching to cheaper shampoo
  1. Stop buying lottery tickets
  1. Getting public transport instead of using the car
  1. Cancelling gym subscription
  1. Downgrading your mobile phone or mobile contract
  1. Cancelling your magazine subscriptions
  1. Cutting your own hair
  1. Giving up manicures / pedicures / massages / waxing
  1. Downgrading the car
  1. Making clothes last longer by tailoring them yourself
  1. Quitting your hobbies
  1. Cycling to work
  1. Giving up smoking
  1. Selling the car

35. Car sharing with someone to work

36.Work bonus/ Christmas bonus money

  1. Getting rid of satellite television
  1. Stopping your gaming or online film subscription
  1. Cancelling a course, such as cookery class or tennis lessons
  1. Cancelling the cleaner
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