An alternative route up the ladder

Posted by Anita Brook at 10:56 on 26 May 2010

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After much partying and carefree living, a desire to have a proper home descends on most of us. Lusting after lithe young men is replaced by lusting over paint colours and wallpaper patterns (sad, but for many, true.) And if it's not the nesting instinct that's taken hold, then buying a property could simply be a good investment - something to rent out and then come back to while you continue to 'discover yourself' in far-flung, exotic countries.

Taking that first step on the ladder is no mean feat and with house prices on the up again - 10.5% since this time last year, according to Nationwide - promises of first-time buyer bargains are set to dwindle, although there are still some good deals to be had. Prices aside, getting a mortgage in the first place is a pretty tricky business, with large deposits still the order of the day for many banks.

Before you resign yourself to an eternity of renting, or worse, living at home (you may get your washing done, but it's really not that big or clever), help is at hand. PropertyMates (www.propertymates.co.uk) is a great new website that matches potential investment partners, landlords, house sharers - anyone with a living arrangement to sort out. Online, you create a profile for yourself - where you want to live, what you're looking for, how much money you've got to spend. The best bit is the party - yes partying and property speculating.

Currently only available in London (the first one's on July 12th at the Manouche bar, in Gudge street) Propertymates parties promise to be a relaxed forum to meet would-be co-buyers, investors or people simply looking to find a flat sharing buddy, without the pushy input of estate agents. Over a glass (or three - get them drunk I say, best way to see what someone's really like!) you may just find the perfect partner for your first foray into house buying.  

If 'co-buying' conjures up a more Utopian view of shared living, then there is a scheme just for you. Already very popular with our more co-operative Dutch neighbours, co-housing (www.cohousing.org.uk) projects are springing up all over Britain. The premis is simple - you find a group of people, pool your resources to buy land and then build a property, where you each have your own 'house', but you share laundry, gardens and even meals.

Often in beautiful locations - co-housing projects currently run in far flung Scotland and Cornwall - this seems like a very romantic notion - especially if you have kids, who can skip through the fields together. I imagine the reality's pretty tough, I don't think I could cope with washing my smalls side by side with my neighbour!

If you're desperate to take the leap into owning bricks and mortar, there are some alternative routes up the property ladder.

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