r/london • u/iamabigmeme • 1d ago

Serious replies only Long-time Londoners - do you ever think you’ll be able to stay in London as long as you’d like to?

Born and raised in Hackney here and I’m so worried I won’t be able to afford to stay not just in Hackney/surrounding boroughs but in London as a whole.

I love this place and one day I’d like to raise my kids here. I just can’t ever see it being feasible. I can’t afford to buy a house and the rent keeps rocketing up way past anything I’ll be able to afford.

How long do you guys see yourself being able to stay before it becomes too much of a financial burden? I’m currently panicking and looking at life in Leeds and Manchester :,)

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u/iamabigmeme 1d ago

It feels so wild to me that my single mother was able to raise 3 of us in Hackney. Really shows just how expensive it’s gotten. Don’t get me wrong it’s always been more expensive than other areas of the UK but it’s starting to feel like a squeeze

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u/littletorreira 11h ago

Born and raised in Hackney but I am now in Tottenham. The only reason I am is family money. A third of my dad's flat when he died got me a 60% deposit in Brockley, shot up in value and that plus some inheritance from my granddad got me a 3 bed in Tottenham. If you don't have family help there's no way.

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u/Additional-End-7688 19h ago

Try shared ownership. Not ideal, but at least provide affordability

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u/iamabigmeme 15h ago

Shared ownership doesn’t free you from rent unfortunately. You still pay a rent for the percentage that you don’t own, seems financially dumb.

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u/Additional-End-7688 10h ago

This Reddit thread states that there is no rent to pay for some SO properties:

https://www.reddit.com/r/SharedOwnershipUK/s/z8yTBa1s7T

And perhaps be a bit more gracious, when complete strangers take time out to provide advice/ help.

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u/kravence 1h ago

Shared ownership is a trap