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How can I ever buy a house
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14-03-2006 11:39am#1
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no problemo, it saved my life that loan!
and when I sold my apt. it was to a girl who got the shared ownership loan from them.
btw
I forgot to mention, you will need a small deposit, I believe it's €1,300 they are asking these days.
You should be able to get that much together no?
do not mention that you have a g/f - you are a single man with hardly any dosh, trying to buy a house...
if you earn more than 30k, they will not give you the loan.0 -
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anthony_086170 wrote:why dont you move back with ur folks or gf folks and save that €900 a month for deposit
with the shared ownership scheme all he needs for the deposit is €1,300
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Unregged,
Chin up dude...
Beruthiel is on the ball. In the last house that i rented in before buying; the landlady had orignally bought the house with the corpo on that halfo-halfo scheme. Not only do you have a foothold until your income goes up, but the equity on your half of the gaff can all go toward helping you buy out the corpo/council when the time comes. Thing is though, get in ASAP so you dont go over the threshold..
Like beruthiel says, as far as the corpo goes, you are single and on 24k. You then split the repayments with your mot and you both get on the ladder when the time comes. Easy
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Correct me if Im wrong but Ive a mate who bought a house in the Castlecurragh affordable housing estate in Mulhuddart (Blanchardstown) for about 130,000 iirc, about 3 years ago now, and he says he heard that although something like 20% of new Irish housing was meant to be affordable (developers would be forced to set aside 20% of homes built to the council for affordable distribution, presumably only homes of basic design of course, nothing fancy), that they basically found loopholes to the extent that Castlecurragh remains the only successful AH estate in Ireland, that the scheme has effectively ground to a halt.
Ive been thinking about it, and tbh if you start saving young and make shrewd moves you arent too fcuked. Im 19, and this year I expect to take in roughly 30,000 hopefully. About 10,000 will be spent on general living (food, possibly a car etc etc), and maybe five grand on the oul social life. Thats 15K per year stacked up. Fast forward 8-9 years, Im 28 odd, hopefully with a steady bird and maybe a kid. I would hope that, in todays terms, Id be earning at least 45,000 from my full time job if I advance up the ladder (which is very possible where I work). I already work 2 jobs (one good, one sh1t but it brings me a bit of extra cash), by the time Im 28 Id be hoping to have a 9- 5 normal job, and would do taxi driving/bouncing/bar work/whatever at night (Im too young now to do any type of weekend nightwork i just couldnt stick it, but when Im an old dad of 28 whos days of heavy drinking and going on the pull are long over id be well willing to do it). 10am to 2:30am as a bouncer and then hop in the cab as the clubs shut, its a fcukin cash cow).
Lets just assume the bird is earning 10K from a part time job, and the kid brings in what, maybe 3 grand of child benefit (BTW i should point out Im valuing it in todays terms- obviously in 10 years 3 grand wont buy as much as now, so whatever its worth in the future in buying power). Thats 60K in wages and benefit from my main job, her part time and the benefit. Lets add another maybe 400 per week from my part time bouncing/taxi work, which brings us nicely to an extra 16K odd per year. Thats 76K if like me you are perpared to put in a bit of hard graft. Lets deduct maybe 20 of that in tax. 56K. 30K in living expenses. So now I have my savings since I was 19 (120,000), lets just assume 50K of the birds savings (seeing as women cant save money )brings me to 170,000. So thats 170,000 plus 26 a year being saved.
So what do I do? I buy a gaff in Fortlawn or wherever (one of Blanchs rougher estates) for 180-190,000 (todays price). Probably wont even need a mortgage.Use the next 10 years to stack up my 26K per year. In 10 years ive got 260,000 and a gaff in a bad area worth maybe 220,000. I then sell up and use all this to buy a gaff in one of the better parts of Blanch 10 years and one or two more kids down the line. I can then quit two of my three jobs and live comfortably. From the age of 10 my oldest kid lives in a household free from the chain and ball of a mortgage that all their mates parents are tied down to for the next 25-30 years.
Sorted
Mind you, advising 18/19 year olds how to plan for the future is feck all use for a man of 30 in financial problems and merely smacks of I Told Ya So.
Sorry about that......
What inspires me though is hearing all the people in work in their late 20s early 30s who didnt bother saving for a mortgage and are now utterly fcuked. People who commute 90 mins- 2 hours to Dublin from Louth and mid/south Cavan. Who live with a bird/fella that they seem to have barely any life with due to financial stress "no we cant go there/buy that/do this, we`re paying off the mortgage". Who seem to think they cant even afford a kid until theyre 35- 40. Not all women have it in them to delay having one that late, so what happens then? You find yourself aged 42, divorced because of financial stress, paying off a mortgage and having no hope of having kids because you delayed it for longer than your body was suited. Bollix to that.
Also, without wishing to be too morbid, dont forget that in the next few years theres bound to be a bereavement in your family which will financially benefit you (sorry to say it, but everyone is on somebodys will list). I love my granny to bits but my maternal one only has a handful of grandkids(unlike my dads- she had 8 kids and god I must have 25-30 something cousins), and when shes gone it will knock a big chunk off the mortgage. All my dads brothers have kids so there will be nothing from that side. My mams two brothers officially dont have kids, i just get this feeling that at the funeral five young fellas with American accents in their early 30s who look awfully like my uncles will turn up demanding their share from the estate......0 -
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MadMoss wrote:Speaking as someone who is involved in the design and managment of the construction of affordable housing all over the country i can confirm that the quality of affordable houses is usually better than that in the private market.
This is because the houses are paid for by the DOE and no corners are cut. The private sector is not so readily regulated. The hosues are then sold at cost.
Affordable houses and aprartments are generally all the same size and type, usually a 3 bed semi.
Dublin City council have difficulty in building becasue there is so liitle available land in the city, so if u want to live in Dublin check Fingal, South Dublin, and Dunlaoghaire Rathdown Co Co.'s.
So they are still being built?
As for quality, i dunno, the walls in Castlecurragh are paper thin, its like living with the neighbours. Stayed over one night, at about 8am i heard the woman next door calling her daughter to get up for school.
Me, half asleep half awake, forgot i wanst at home and roared back "yeah ill be up in a minute" 0 -
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Tha Gopher wrote:Correct me if Im wrong but Ive a mate who bought a house in the Castlecurragh affordable housing estate in Mulhuddart (Blanchardstown) for about 130,000 iirc, about 3 years ago now, and he says he heard that although something like 20% of new Irish housing was meant to be affordable (developers would be forced to set aside 20% of homes built to the council for affordable distribution, presumably only homes of basic design of course, nothing fancy), that they basically found loopholes to the extent that Castlecurragh remains the only successful AH estate in Ireland, that the scheme has effectively ground to a halt.
Ive been thinking about it, and tbh if you start saving young and make shrewd moves you arent too fcuked. Im 19, and this year I expect to take in roughly 30,000 hopefully. About 10,000 will be spent on general living (food, possibly a car etc etc), and maybe five grand on the oul social life. Thats 15K per year stacked up. Fast forward 8-9 years, Im 28 odd, hopefully with a steady bird and maybe a kid. I would hope that, in todays terms, Id be earning at least 45,000 from my full time job if I advance up the ladder (which is very possible where I work). I already work 2 jobs (one good, one sh1t but it brings me a bit of extra cash), by the time Im 28 Id be hoping to have a 9- 5 normal job, and would do taxi driving/bouncing/bar work/whatever at night (Im too young now to do any type of weekend nightwork i just couldnt stick it, but when Im an old dad of 28 whos days of heavy drinking and going on the pull are long over id be well willing to do it). 10am to 2:30am as a bouncer and then hop in the cab as the clubs shut, its a fcukin cash cow).
Lets just assume the bird is earning 10K from a part time job, and the kid brings in what, maybe 3 grand of child benefit (BTW i should point out Im valuing it in todays terms- obviously in 10 years 3 grand wont buy as much as now, so whatever its worth in the future in buying power). Thats 60K in wages and benefit from my main job, her part time and the benefit. Lets add another maybe 400 per week from my part time bouncing/taxi work, which brings us nicely to an extra 16K odd per year. Thats 76K if like me you are perpared to put in a bit of hard graft. Lets deduct maybe 20 of that in tax. 56K. 30K in living expenses. So now I have my savings since I was 19 (120,000), lets just assume 50K of the birds savings (seeing as women cant save money )brings me to 170,000. So thats 170,000 plus 26 a year being saved.
So what do I do? I buy a gaff in Fortlawn or wherever (one of Blanchs rougher estates) for 180-190,000 (todays price). Probably wont even need a mortgage.Use the next 10 years to stack up my 26K per year. In 10 years ive got 260,000 and a gaff in a bad area worth maybe 220,000. I then sell up and use all this to buy a gaff in one of the better parts of Blanch 10 years and one or two more kids down the line. I can then quit two of my three jobs and live comfortably. From the age of 10 my oldest kid lives in a household free from the chain and ball of a mortgage that all their mates parents are tied down to for the next 25-30 years.
Sorted
Mind you, advising 18/19 year olds how to plan for the future is feck all use for a man of 30 in financial problems and merely smacks of I Told Ya So.
Sorry about that......
What inspires me though is hearing all the people in work in their late 20s early 30s who didnt bother saving for a mortgage and are now utterly fcuked. People who commute 90 mins- 2 hours to Dublin from Louth and mid/south Cavan. Who live with a bird/fella that they seem to have barely any life with due to financial stress "no we cant go there/buy that/do this, we`re paying off the mortgage". Who seem to think they cant even afford a kid until theyre 35- 40. Not all women have it in them to delay having one that late, so what happens then? You find yourself aged 42, divorced because of financial stress, paying off a mortgage and having no hope of having kids because you delayed it for longer than your body was suited. Bollix to that.
Also, without wishing to be too morbid, dont forget that in the next few years theres bound to be a bereavement in your family which will financially benefit you (sorry to say it, but everyone is on somebodys will list). I love my granny to bits but my maternal one only has a handful of grandkids(unlike my dads- she had 8 kids and god I must have 25-30 something cousins), and when shes gone it will knock a big chunk off the mortgage. All my dads brothers have kids so there will be nothing from that side. My mams two brothers officially dont have kids, i just get this feeling that at the funeral five young fellas with American accents in their early 30s who look awfully like my uncles will turn up demanding their share from the estate......
My gosh, I sure hope your life works out like you planned. Best of luck finding a little wifey to stay home and mind your kids while you are out working all day and night, but who will still bring in a few bob through a little part time work of her own.
to the OP, don't lose hope. Look at all the options people have put forward and keep saving what you can. Put as much as you can afford into saving scheme which you can't get easy access to. The savings adding up,no matter how slowly ,will give you options and also bargaining power with bank.
Best of luck.0 -
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Yes!:o 
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