Back when their primary source of income was their pocket money Abigail Freeman and David Spicer began saving up for their future together.
The couple went to school together in Hertfordshire and got together aged just 14. They studied at Leeds University, then moved to London to build their careers, Abi as a TV researcher, and David as a trainee actuary.
At the start of the pandemic the 25-year-olds were living in a shared house in Plaistow, east London, with six other people. Their room cost £1,000pcm, including bills.
“It was OK because we were out at work every day, and we didn’t actually spend much time in the house,” said Abi.
When they found themselves confined to home for 23 hours per day things changed, particularly since David is in a high risk group and they weren’t confident that all their housemates would take social distancing as seriously as they did.
“This was right at the beginning when we didn’t really know anything and it was all very scary,” said Abi.
So, in April 2020, they decided to take a rapid exit strategy, and moved out to Staines-upon-Thames, Surrey, where they were able to pick up a two-bedroom flat for £1,175pcm.
Buying had been their long term aim and they had been saving together since they were teenagers.
This, plus an inheritance from David’s grandmother, meant they had just enough to buy a property, although not in London itself.
“We did not even consider buying in London,” said Abi. “It was out of the question even though if we had had the opportunity we would have liked to have stayed for a while.”
The fact that they still had lots of childhood friends in Hertfordshire targeted their search on the county.
Their wish list was simple. They wanted a house, rather than a flat, and they wanted to be close to a station with trains into London, preferably King’s Cross, for work. They scanned the property portals daily, phoned estate agents constantly, and at the end of 2021 they paid £275,000 for a two-bedroom house in Baldock, a market town 38 miles north of London.
Their monthly mortgage costs £900 — substantially less than they were paying in London or Surrey — and when they need to go into the office the journey takes around an hour.
“I’m not sure if owning rather than renting has changed our life, but it has certainly changed our lifestyle,” said Abi. “The house was rented out for about six years before we bought it and it needs a lot doing to it, more than we realised when we bought it. We now spend our time doing DIY. Our priorities have changed.”
Despite this she feels “incredibly lucky” to be a homeowner at last. “It is a really sad situation for people who are stuck renting, who can’t afford to save for a deposit, even though owning might work out cheaper,” she said. “We were lucky that we were able to put our resources together, but anyone on their own is really stuck in that cycle.”
In the longer term Abi sees a brighter future if she and David move even further out of London. “We went to university in Leeds and you can get so much more for your money up north than you can down south,” she said. “I don’t want to be a commuter forever.”
