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Are rising rents making buying a better option?

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    #2
    eggwhitelad
    Site Banned Posts: 46 ✭eggwhitelad


    most definitily yes

    Would never rent

    Gonna buy in two years :):D:)


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    #3
    Wossack
    Registered Users Posts: 7,002 ✭✭✭Wossack


    ah shure renting is just paying someone elses mortgage! a fat cat too, no doubt


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    #4
    goodie2shoes
    Banned (with Prison Access) Posts: 702 ✭✭✭goodie2shoes


    Wossack wrote: »
    ah shure renting is just paying someone elses mortgage! a fat cat too, no doubt

    but doesn't renting offer one great flexibility, and the chance to live in a great area like Rathmines?


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    #5
    eggwhitelad
    Site Banned Posts: 46 ✭eggwhitelad


    Dont get why anyone would waste there money on rent when you could easily get a nice 3 bed in dublin in good area for around 170k

    the mind boggles


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    #6
    petes
    Registered Users Posts: 8,382 ✭✭✭petes


    eggwhitelad wrote: »
    Dont get why anyone would waste there money on rent when you could easily get a nice 3 bed in dublin in good area for around 170k

    the mind boggles

    Maybe they can't get a mortgage. Where will they live while trying to save if working?


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    #7
    RobbieTheRobber
    Registered Users Posts: 6,778 ✭✭✭RobbieTheRobber


    eggwhitelad wrote: »
    Dont get why anyone would waste there money on rent when you could easily get a nice 3 bed in dublin in good area for around 170k

    the mind boggles

    Your definition of a good area and mine must be different.


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    #8
    goodie2shoes
    Banned (with Prison Access) Posts: 702 ✭✭✭goodie2shoes


    RobbieTheRobber wrote: »
    Your definition of a good area and mine must be different.

    what is yours?
    how much are houses there?


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    #9
    syklops
    Closed Accounts Posts: 18,966 ✭✭✭✭syklops


    With so many empty properties around how are rents going up?

    A quick glance on daft and comparing the prices for Dublin City centre from about 4 years ago when i left they have dropped quite a bit. Back then a one bed apartment was about 1200 minimum unless you were happy putting up with some ridiculous flaw(such as the bathroom being in another part of the building).Now theres a nice looking flat on Gardiner Street for 800. Thats nearly half of the asking price about 5-6 years ago.

    So yeah, who says rents are going up?


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    #10
    jester77
    Registered Users Posts: 11,262 ✭✭✭✭jester77


    Much easier to leave a rented accommodation when you need emigrate.


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    #11
    Akrasia
    Registered Users Posts: 22,244 ✭✭✭✭Akrasia


    If house prices are still falling by 10% a year (as they still are in a lot of places) then a house that is currently on sale for 120000 will be 12000 cheaper next year.

    If your rent is less than 1500 a month then you're financially better off waiting an extra year essentially, depreciation + cost of the mortgage for 12 months will be at least 20 grand
    Not to mention the longer term cost. With interest, the extra 12000 you would have to borrow would end up costing over 20 thousand over the course of a 30 year mortgage.

    Not to mention the Property tax when that is introduced, plus the cost of maintaining the property which is the responsibility of the landlord in a private rental...

    While property prices are falling, it makes no sense to buy. The sums only add up when property prices are rising at least at the rate of inflation.


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    #12
    MagicMarker
    Banned (with Prison Access) Posts: 32,865 ✭✭✭✭MagicMarker


    We all rent, some of us pay rent to a landlord, some of us pay rent to the bank.


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    #13
    goodie2shoes
    Banned (with Prison Access) Posts: 702 ✭✭✭goodie2shoes


    MagicMarker wrote: »
    We all rent, some of us pay rent to a landlord, some of us pay rent to the bank.

    very true, but the landlord aint gonna give you his house in 20 years time, is he?
    (not unless you get his daughter up the pole?)


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    #14
    goodie2shoes
    Banned (with Prison Access) Posts: 702 ✭✭✭goodie2shoes


    Akrasia wrote: »
    If house prices are still falling by 10% a year (as they still are in a lot of places) then a house that is currently on sale for 120000 will be 12000 cheaper next year.

    If your rent is less than 1500 a month then you're financially better off waiting an extra year essentially, depreciation + cost of the mortgage for 12 months will be at least 20 grand
    Not to mention the longer term cost. With interest, the extra 12000 you would have to borrow would end up costing over 20 thousand over the course of a 30 year mortgage.

    Not to mention the Property tax when that is introduced, plus the cost of maintaining the property which is the responsibility of the landlord in a private rental...

    While property prices are falling, it makes no sense to buy. The sums only add up when property prices are rising at least at the rate of inflation.

    property prices have increased for the last 4 months!


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    #15
    IvyTheTerrible
    Closed Accounts Posts: 14,949 ✭✭✭✭IvyTheTerrible


    goodie2shoes wrote: »
    property prices have increased for the last 4 months!
    I'd be interested to see where you got that information.


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    #16
    Gummy Panda
    Closed Accounts Posts: 20,919 ✭✭✭✭Gummy Panda


    goodie2shoes wrote: »
    Recent figures suggest rents are rising. Record numbers continue to rent, with little to show for it. Many cannot get mortgage approval.

    Is rent dead money?

    Is it now time to consider buying?

    http://www.independent.ie/national-news/hope-for-housing-market-now-its-cheaper-to-buy-than-rent-3286129.html

    Are you a estate agent?


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    #17
    goodie2shoes
    Banned (with Prison Access) Posts: 702 ✭✭✭goodie2shoes


    jester77 wrote: »
    Much easier to leave a rented accommodation when you need emigrate.

    friends of mine are renting their house while in Sweden.
    they have a smallish mortgage, so the extra cash comes in very handy.


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    #18
    jaykay74
    Registered Users Posts: 6,572 ✭✭✭jaykay74


    You should have just bumped one of the other "property on the up" threads you've started in AH in the last couple of months. :D

    Good time to buy property?
    http://www.boards.ie/vbulletin/showthread.php?p=78775147

    Property prices are on the way back up!
    http://www.boards.ie/vbulletin/showthread.php?p=79394179

    More "evidence" of property prices going up?
    http://www.boards.ie/vbulletin/showthread.php?p=80992377

    Are rising rents making buying a better option?
    http://www.boards.ie/vbulletin/showthread.php?p=81627747


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    #19
    Lombardo86
    Registered Users Posts: 485 ✭✭Lombardo86


    Renting allows me to live in an area which i cannot afford to live in should i want to buy at the moment.

    It allows me to still save money which will in turn increase me savings (!) and at the time i feel the need to buy, i can get a larger mortgage to live in a nicer area with the additional money i have. The way i see it, i am going to be paying it for 30 years anyway, why does it matter whether it until im x or x+3 years old.

    I do not have to fix or pay for anything that gets broken and floors/furniture are included in rent.

    I think the people who think renting is dead money need to do some reading up. I am sick of making the same points over and over again..

    As someone above said (incorrectly), the mind boggles


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    #20
    goodie2shoes
    Banned (with Prison Access) Posts: 702 ✭✭✭goodie2shoes


    Gummy Panda wrote: »
    Are you a estate agent?

    No.
    Thank God!

    Q. why don't EAs open their blinds in the morning?
    A. 'cos they like to have something to do in the afternoon. :D


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    #21
    shed head
    Banned (with Prison Access) Posts: 196 ✭✭shed head


    goodie2shoes wrote: »
    very true, but the landlord aint gonna give you his house in 20 years time, is he?
    (not unless you get his daughter up the pole?)

    he aint going to charge you double either though like a mortgage!


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    #22
    jester77
    Registered Users Posts: 11,262 ✭✭✭✭jester77


    goodie2shoes wrote: »
    friends of mine are renting their house while in Sweden.
    they have a smallish mortgage, so the extra cash comes in very handy.

    But they still would have had to find tenants. What happens if something breaks down, it's a long trip back from Sweden to check things out. If the tenants move out, they could be left with an empty house for a few months.


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    #23
    MagicMarker
    Banned (with Prison Access) Posts: 32,865 ✭✭✭✭MagicMarker


    goodie2shoes wrote: »
    very true, but the landlord aint gonna give you his house in 20 years time, is he?
    (not unless you get his daughter up the pole?)
    Very true, but with the money I'll save by not paying interest on a mortgage or paying maintenance fees on a property, I'll be off living the good life free to move about as I please. While you'll be stuck in your 170k property that you've actually spent 250k on, but which is only worth 130k.


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    #24
    goodie2shoes
    Banned (with Prison Access) Posts: 702 ✭✭✭goodie2shoes


    jaykay74 wrote: »
    You should have just bumped one of the other "property on the up" threads you've started in AH in the last couple of months. :D

    Good time to buy property?
    http://www.boards.ie/vbulletin/showthread.php?p=78775147

    Property prices are on the way back up!
    http://www.boards.ie/vbulletin/showthread.php?p=79394179

    More "evidence" of property prices going up?
    http://www.boards.ie/vbulletin/showthread.php?p=80992377

    Are rising rents making buying a better option?
    http://www.boards.ie/vbulletin/showthread.php?p=81627747

    the MODS warned me against that, so i better not.
    besides this thread is dealing specifically with the choice between RENTING Vs BUYING.


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    #25
    goodie2shoes
    Banned (with Prison Access) Posts: 702 ✭✭✭goodie2shoes


    jester77 wrote: »
    But they still would have had to find tenants. What happens if something breaks down, it's a long trip back from Sweden to check things out. If the tenants move out, they could be left with an empty house for a few months.

    mutual friends have moved in, so that's not really an issue for them.


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    #26
    syklops
    Closed Accounts Posts: 18,966 ✭✭✭✭syklops


    IvyTheTerrible wrote: »
    I'd be interested to see where you got that information.

    And who commissioned the report. The united guild of Estate Agents?


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    #27
    goodie2shoes
    Banned (with Prison Access) Posts: 702 ✭✭✭goodie2shoes


    MagicMarker wrote: »
    Very true, but with the money I'll save by not paying interest on a mortgage or paying maintenance fees on a property, I'll be off living the good life free to move about as I please. While you'll be stuck in your 170k property that you've actually spent 250k on, but which is only worth 130k.

    there's a lot of assumptions in there.


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    #28
    sfwcork
    Banned (with Prison Access) Posts: 1,203 ✭✭✭sfwcork


    I rent.Not because I want to but Because I have to. Banks are not giving out mortgages as easily as what they use to.I agree its dead money though but what an one do

    Caught on both places


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    #29
    RobbieTheRobber
    Registered Users Posts: 6,778 ✭✭✭RobbieTheRobber


    goodie2shoes wrote: »
    what is yours?
    how much are houses there?

    decent areas in dublin for a 3 bed are probably looking at around starting the 250k mark.


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    #30
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    There are lot of 'cheap' properties if you look at mortgage repayments as against what you would have to pay in rent. But with the property tax coming and new budget.. anyone considering buying would be best to hold off until mid next year to see how the market is then


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    #31
    Seaneh
    Banned (with Prison Access) Posts: 18,300 ✭✭✭✭Seaneh


    goodie2shoes wrote: »
    Recent figures suggest rents are rising. Record numbers continue to rent, with little to show for it. Many cannot get mortgage approval.

    Is rent dead money?

    Is it now time to consider buying?

    http://www.independent.ie/national-news/hope-for-housing-market-now-its-cheaper-to-buy-than-rent-3286129.html

    Hey, op, aren't you either an employee of, or infact yourself a mortgage broker?

    Propaganda!


    You have started a disproportionate amount of threads about how now is the bets time to buy a house, rent is pointless, poroperty prices raising, buy buy buy, etc.

    I thought there was a rule against shills posting on boards?


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