Trending
Giving up Greggs will save first-time buyers £8k for house deposit, estate agents claims
It’s as simple as that, apparently…
An estate agents has come under fire for its questionable views on how first-time buyers can save up for house deposits.
At a time when house prices are reaching record highs – just last year, the average UK house price reached £250k for the first time – and the cost of living crisis looms, first-time buyers are finding it harder than ever before to scrape enough money together for a deposit.
However, DM & Co Homes evidently don’t think saving up for a 10% deposit is too laborious of a task, and have offered their own advice on how they think all young people can do it, regardless of their income or living situation.
The answer, as it turns out, lays with a morning Greggs.
@greggs_official / Instagram
In a now-viral TikTok video, the West Midlands-based estate agents claimed that people could save £35 per week, £140 a month and £1,680 a year if they stopped purchasing Greggs seven days a week.
This equates to a total of £8,400 over five years, which is around the amount needed for a 5% deposit on a £175,000 property – £75,000 below the average UK house price.
DM & Co Homes captioned the video writing: “Who’s guilty?”
Of course, social media users weren’t too impressed with the estate agents’ attitude towards the issue, with many branding it as ‘pointless’ and ‘condescending’.
One person replied: “This is literally boomer mentality! Buying a sausage roll is not going to stop you from saving a deposit. Pointless video.”
Another wrote: “No one cares with your condescending sh**e leave Greggs out of it.”
A third pointed out: “A warm breakfast every morning for eight years is worth more than a deposit on a property you’ll hardly see.”
DM & Co Homes has since responded to the backlash, with its property media creator Megan Griffiths telling The Mirror: “We’ve done a few videos like that and people love them. It really makes first time buyers realise how much they can save.
“Some users don’t really understand the point of the video or have the motivation to save. They don’t realise how much these things are and that it will add up over time.
“People are always going to make comments but I don’t take notice. House prices are only going up and because TikTok is aimed at a young audience it’s good to make them aware of how they can save.
“If you stop spending money on these things you can save and get yourself on the property ladder.”
This comes after presenter Kirstie Allsopp claimed that young people could afford their own homes if they cut back on ‘luxuries’ like gym memberships and coffee.