Buying a property with friends is just one of the solutions to rising rents and the difficulty of getting on the housing ladder. Photograph: Hero Images/Getty Images/Hero Images
‘I feel like a weight has been lifted from my shoulders’ – Tim, 26, London
I work for the NHS and moved to London to find a job a couple of years ago. The idea of renting even a one-bed flat on an average salary has felt impossible from the start. Before moving to London, I vaguely recalled looking into housing co-operatives and then heard from someone who had applied to a local co-op. I thought living alongside others with a similar mindset sounded ideal. Most importantly of all, the cost was totally affordable, at around £60 a week, all-inclusive, with the stipulation that we attend a monthly meeting and contribute to the running of the co-op. I applied and somehow, in the midst of a period of poor mental health, managed to get a room. Since moving here I can finally save a chunk of my salary. I’ve recently been able to cut down my hours at work to start a part-time master’s degree – something that would otherwise not have been possible as a financially self-sufficient young person. Most of all, I feel like a weight has been lifted from my shoulders and the obligatory annual dread of trying to find a place to live is no longer an issue.
‘Four of us bought a house together’ – Cheryl, 29, London
I’ve lived with other people my whole life: I went from home to university halls to sharing a flat with friends. At this stage I couldn’t imagine living in a house with just my partner. But then my partner and I realised we had been living with the same people for almost seven years, and that our rents were continually increasing, but we didn’t have to accept those increases. So we pooled our money and bought a house together – all four of us. It was the best decision we’ve made. We collectively save almost £500 a month, by paying a mortgage instead of rent, and it’s money in our pockets rather than paying someone else. I still get told that I will want “my own place” at some point but this is my own place. Not only do I own it, but also it feels like home, because we get the chance to share it with flatmates who have become family.
Accelerating the relationship – Alice, 26, London
I’m moving in with a romantic partner much sooner than “normal”, due to the financial benefits of halving the rent on a one-bed flat.
‘We have become very frugal’ – Patricia, 26, Kent
My husband and I got married in 2015. When it came to renting in Kent, we had barely half the required amount for a deposit on even the smallest of places. We rented a spare room for a couple of weeks, and then moved into a friend’s home for 11 months. We didn’t pay rent, but did the garden and painted/decorated the house as a way of helping out. We finally saved enough for a deposit and the additional fees. We now live in a tiny one-bedroom flat with our baby, as a way to save money for a home one day. We have a small income and a lot of expenses, but we have managed so far on our own budget, even though the dream of owning a house is distant. We are very frugal – we don’t spend a lot, shop much, or drink. We spend time going out on walks and visiting nearby towns and, on the odd occasion, have a nice meal. We replace what we can’t fix and buy what we need. We would love to buy our own home within 10 years, if we can.
‘We’re moving to a National Trust property’ – Claire, 31, Surrey
I’ve moved around so much in rented accommodation over the past 10 years, since graduating from university. I started with renting a flat through an agency, but found that a rather lonely experience, so I moved on to house-sharing websites. Living in a rented house share has given me some opportunities that I’ll never have again. For example, in my last accommodation, I lived in a six-bedroom Victorian mansion with an outside swimming pool overlooking the South Downs. When am I ever going to be able to do that again on my pitiful teacher’s salary? Now my partner and I have been accepted to move into a beautiful National Trust house. While we’d love to save to buy a house in the next few years, we’ll take the opportunity to live in a nice area of Surrey, as we know we’ll never be able to afford to live in the county we grew up in and love.
‘We bought with a friend’ – Sam, 30, east London
My girlfriend and I managed to get on the housing ladder by buying with a friend. Between three of us, we had just about enough money for a deposit and enough income to buy a basic flat in one of the cheapest parts of London. It’s been a great success, but we wouldn’t have been able to do it as a couple.
‘I live in an ex-care home’ – Molly, 28, south London
I live in an ex-care home with 50 other people, under a property guardianship agreement. We share showers, kitchens, and the minutiae of our very different lives. We hail from all over the world and range in age from 20 to 60. I choose to live like this because I hate the private rental market. It feels impersonal and transactional, whereas property guardianship offers community and a shared incentive to make this a happy place to live. From yoga and gigs in the living room to helping a floor-mate rehearse for their vocal auditions, there is never a dull moment (although perhaps occasionally I wish there was!). I’d recommend it to anybody; even if it takes a while to get used to, the lessons learned about diversity and cooperation feel vital in the current political climate.
‘I’ve moved back in with Mum and Dad’ – Jess, 22, South Yorkshire
I moved to London to go to university and tried to stay there after I left, but my pay was barely covering my rent and bills, never mind food. I’ve had no choice but to move back in with my parents in Yorkshire and they’re letting me live rent-free, so I can save up for a deposit for my own house.
Names have been changed to preserve anonymity