Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Condescending attitudes towards people who bought houses during the boom

Options
1356

Comments

  • Options
    #62
    April O Neill
    Closed Accounts Posts: 3,305 ✭✭✭April O Neill


    Joe Hart wrote: »
    I'm not into gloating about the four years I've spent renting really nice places in Donnybrook and Ballsbridge. Or breaking mens hearts handing over 5K for their 55K Audis that seemed such a good idea in 2007. Financial prudence will always win out.

    I'm not calling you a liar but... I don't know how to finish that sentence.


  • Options
    #63
    gallag
    Banned (with Prison Access) Posts: 3,355 ✭✭✭gallag


    I rented a place for ovrr two years when the landlord handed the running of his property over to a letting agent, agent sends we a letter saying rent was rising and he would be entering the house to take photos, I said the date did not suite as me and the wife would not be there, he just said we did not need to be there. After that it did not feel like a home anymore, knowing I had no say in who entered so I bought my own house and now I have a home again. Hate the thought of renting now. Its not all about the money, also when I am 50 I will have no mortgage or rent to pay.


  • Options
    #64
    donegal_road
    Closed Accounts Posts: 1,281 ✭✭✭donegal_road


    Chop Chop wrote: »
    You could say the same about renting, if you did it for long enough, only thing is you wouldn't own it at the end.

    ok, I supposed it depends on which part of the country you live in. For example, where I live you can rent a new 3 bed semi for €400 pm.
    I have a friend in Letterkenny and she pays €260 pm for a room in an older 3 bed semi. She is in a good job and her housemate works as a programmer for a good company. He also pays €260 pm. They are both happy to continue renting indefinitely because of what they are able to save.

    I know rent hasn't dropped in Dublin or Galway, not sure about Cork but Id imagine its the same, in a lot of other parts of the country its a renter's market.


  • Options
    #65
    padd b1975
    Registered Users Posts: 10,733 ✭✭✭✭padd b1975


    donegal_road wrote: »
    and be free to bugger off whenever the notion takes you, and not have to worry about servicing a massive mortgage, a be restfully assured that you haven't spent most of the only life that you will ever have, paying way over the odds for something that might only yield you half of what you sunk into.
    Yes, and when you have reached the destiation you have buggered off to, you are still going to be paying another guy's mortgage when you get there.

    Suppose you could always sleep rough.


  • Options
    #66
    April O Neill
    Closed Accounts Posts: 3,305 ✭✭✭April O Neill


    padd b1975 wrote: »
    Or you could pay 1472 euro per month in rent (plus whatever the rate of inflation is going into the future) and have nothing to show for it apart from a landlord with a mortgage free property.

    The choice is yours.

    If you lose your job, it's easy to move on if you're a renter. Of course you can do this as a homeowner too, but you'll be rent + mortgage, or taking a huge loss if you manage to sell.

    Renting buys a service AND freedom. It's not dead money.


  • Advertisement
  • Options
    #67
    April O Neill
    Closed Accounts Posts: 3,305 ✭✭✭April O Neill


    Chop Chop wrote: »
    You could say the same about renting, if you did it for long enough, only thing is you wouldn't own it at the end.

    Renting over a lifetime won't have you as out of pocket, I reckon. Interest plus the things people tend to forget about, like maintenance of your home, taxes etc. etc.

    There's pros and cons to both really. I've yet to be convinced that home-owning is the better option.


  • Options
    #68
    April O Neill
    Closed Accounts Posts: 3,305 ✭✭✭April O Neill


    Trigger Happy wrote: »
    Plus once you reach retirement you are still paying rent whilst you peers have no rent or mortgage to pay.

    A prudent renter could save enough money to buy outright later in life with the money they don't have pay in mortgage interest, house maintenance etc.


  • Options
    #69
    Chop Chop
    Closed Accounts Posts: 343 ✭✭Chop Chop


    April O Neill wrote: »
    Renting over a lifetime won't have you as out of pocket, I reckon. Interest plus the things people tend to forget about, like maintenance of your home, taxes etc. etc.

    There's pros and cons to both really. I've yet to be convinced that home-owning is the better option.

    It all depends what you want out of life, I was happy to settle down and have a family and buy a house. We both felt we were finished renting and moving about. We wanted to put roots down somewhere etc.. Maintenance of my home has never cost me a penny, I suppose I'm a bit of a handy man so that's probably why, as for the taxes your landlord will add the property tax to your monthly rent.

    Lets not turn this into a "Rent Vs Buy" thread. Renting is fine for some and not for others. I did myself for long enough.:)


  • Options
    #70
    anncoates
    Closed Accounts Posts: 13,925 ✭✭✭✭anncoates


    April O Neill wrote: »
    A prudent renter could save enough money to buy outright later in life with the money they don't have pay in mortgage interest, house maintenance etc.

    Would renting and saving in parallel to eventually buy a house be financially much different to buying a house in the first place?


  • Options
    #71
    gallag
    Banned (with Prison Access) Posts: 3,355 ✭✭✭gallag


    It would cost me as much to rent my house as it would to buy it, my neighbour rents and pays about the same as my mortgage.


  • Advertisement
  • Options
    #72
    Duggys Housemate
    Closed Accounts Posts: 3,298 ✭✭✭Duggys Housemate


    As always when facts change opinions should change. Is it true that you can save money during your lifetime as a renter. At the moment that is not true.


  • Options
    #73
    mfceiling
    Registered Users Posts: 12,798 ✭✭✭✭mfceiling


    Joe Hart wrote: »
    HIs circumstances don't change the fact they paid hundreds of thousands more for something. I could go out and buy a house for 150K. If it halved in value Id be annoyed as its money wasted. Its not the end of the world though at that level.

    I'm not into gloating about the four years I've spent renting really nice places in Donnybrook and Ballsbridge. Or breaking mens hearts handing over 5K for their 55K Audis that seemed such a good idea in 2007. Financial prudence will always win out.

    What a load of sh*te...you think someones heart is breaking because their 6 year old Audi is only worth 5 grand. Cheapest 2007 Audi A4 on carzone today is €6995 - doubt very much that a 1.6 Audi A4 was €55,000 brand new.

    Financial prudence will always win out because most things will depreciate - cars are a prime example but are you going to wait 6 years to buy a car while the world moves on? Houses go up and down in value. Was the person who bought for €100k in 2000 mad because he sold in 2008 for €700k when he could have sold in 2007 for €770k or did it suit him because he found his ideal house in 2013 after renting for a few years. Nobody is a clairvoyant so nobody can predict what house prices will do.

    Also believe it or not - some people like to own their own home in a particular area.


  • Options
    #74
    Chop Chop
    Closed Accounts Posts: 343 ✭✭Chop Chop


    mfceiling wrote: »
    What a load of sh*te...you think someones heart is breaking because their 6 year old Audi is only worth 5 grand. Cheapest 2007 Audi A4 on carzone today is €6995 - doubt very much that a 1.6 Audi A4 was €55,000 brand new.

    Correct, A 2004 Audi A4 was €40,000 back in 2004 and a 2013 A4 is €34,270 these days.


  • Options
    #75
    Menas
    Closed Accounts Posts: 12,318 ✭✭✭✭Menas


    April O Neill wrote: »
    A prudent renter could save enough money to buy outright later in life with the money they don't have pay in mortgage interest, house maintenance etc.

    But the person who had the mortgage has remained inflation proof. Rents are not inflation proof.


  • Options
    #76
    Toby Take a Bow
    Closed Accounts Posts: 1,732 ✭✭✭Toby Take a Bow


    up for anything wrote: »
    Stuck for words at the attitudes above. :(

    You never know what life holds in store for you even if you are a wise virgin squirrel so it's best not to take too much pleasure in other people's trouble.

    My attitude would be similar to those you quoted, but only directed towards those people who sneered or 'advised' me on how stupid I was at continuing to rent. I have every sympathy for those people who bought a house as a place to live and not for an investment and who have fallen on hard times as a result. People complaining about negative equity and those kinds of things are often those who were sneering at rent being 'dead money' back in the day.

    Renting was and is the best solution for me, especially after having lost my job and also as I can see a long, long road of contracts ahead (with periods of unemployment in between). If I was stuck in a mortgage at the moment, I don't know what I would do.


  • Options
    #77
    Pretzill
    Registered Users Posts: 4,684 ✭✭✭Pretzill


    I bought in 1999 in the country even at that time prices were rising in the city so I relocated - first time buyer and the most important thing to me was that if I lost my job I'd still be able to afford the repayments - I suppose I thought I'd buy again but that isn't economically possible at the moment - when house prices went mad I thought
    people did too and it fueled the whole fake boom - still think if people had stopped buying prices may have fallen back naturally but also can't wholly understand the lack of foward planning by people who were facing huge mortgages i.e can I afford this if something bad happens? I know I'm not a risk taker when it comes to money :)


  • Options
    #78
    coffee_cake
    Moderators, Category Moderators, Politics Moderators, Recreation & Hobbies Moderators, Society & Culture Moderators Posts: 81,310 CMod ✭✭✭✭coffee_cake


    anncoates wrote: »
    Would renting and saving in parallel to eventually buy a house be financially much different to buying a house in the first place?

    They may end up paying a mortgage over a shorter term if they buy it later in life and have saved more, and so end up paying less interest overall.
    They can earn interest on the money saved over the period, or invest it and earn a better return, again reducing the amount needing to be repaid if they end up getting a mortgage.

    The flexibility in the meantime would be the main bonus, I suppose, and knowing you have that money set aside for emergencies.


  • Options
    #79
    gallag
    Banned (with Prison Access) Posts: 3,355 ✭✭✭gallag


    Joe Hart wrote: »
    Or breaking mens hearts handing over 5K for their 55K Audis that seemed such a good idea in 2007.

    What model was this?


  • Options
    #80
    Galwayguy35
    Registered Users Posts: 16,510 ✭✭✭✭Galwayguy35


    I took out my mortgage during the boom, I'm on a tracker so it's not too bad.

    I will still work out better than someone these days taking out a variable I would imagine.

    Having said that if I got into trouble with the repayments it is my problem, not anyone elses and I don't see why the taxpayer should have to bail me out if it happened.


  • Options
    #81
    kraggy
    Closed Accounts Posts: 6,414 ✭✭✭kraggy


    Joe Hart wrote: »
    You took a huge risk and you still pissed away 200K that you didn't need to.

    The difference in someone buying in 2006 for 400K and in 2012 for 200K is about 400K in mortgage repayments. Rental payments for those 6 years might amount to 80K. A person renting is far better placed to take job opportunties in Ireland and abroad.

    And how does one pay rent when they're old and retired?

    And you're also making the assumption that current property prices will remain as they are and not increase.


  • Advertisement
  • Options
    #82
    April O Neill
    Closed Accounts Posts: 3,305 ✭✭✭April O Neill


    anncoates wrote: »
    Would renting and saving in parallel to eventually buy a house be financially much different to buying a house in the first place?

    Probably not, but that's not the only thing you gain from renting. You can move around more. If you own and have to move, you could be paying mortgage AND rent. Renting isn't just about money, it also gives greater freedom.


  • Options
    #83
    April O Neill
    Closed Accounts Posts: 3,305 ✭✭✭April O Neill


    Chop Chop wrote: »
    as for the taxes your landlord will add the property tax to your monthly rent.

    I'd move if a landlord tried this.


  • Options
    #84
    Zulu
    Registered Users Posts: 10,965 ✭✭✭✭Zulu


    April O Neill wrote: »
    I'd move if a landlord tried this.
    Easy enough for a younger couple to do, but for a young family with children in school this is more problematic. Renting isnt all gravy. :(


  • Options
    #85
    April O Neill
    Closed Accounts Posts: 3,305 ✭✭✭April O Neill


    kraggy wrote: »
    And you're also making the assumption that current property prices will remain as they are and not increase.

    Of course they'll increase eventually. To boom-time levels, adjusting for inflation? Not for a long, LONG time, and hopefully never, with apologies to people who wish they would.


  • Options
    #86
    April O Neill
    Closed Accounts Posts: 3,305 ✭✭✭April O Neill


    Zulu wrote: »
    Easy enough for a younger couple to do, but for a young family with children in school this is more problematic. Renting isnt all gravy. :(

    I know that. Like I said, there are pros and cons to bought renting and buying. I am not dead set against buying, maybe I will someday.

    It's just that the "renting is dead money" thing gets on people's nerves because it's not really, it has its own benefits.


  • Options
    #87
    Menas
    Closed Accounts Posts: 12,318 ✭✭✭✭Menas


    Joe Hart wrote: »
    HIs circumstances don't change the fact they paid hundreds of thousands more for something. I could go out and buy a house for 150K. If it halved in value Id be annoyed as its money wasted. Its not the end of the world though at that level.

    I'm not into gloating about the four years I've spent renting really nice places in Donnybrook and Ballsbridge. Or breaking mens hearts handing over 5K for their 55K Audis that seemed such a good idea in 2007. Financial prudence will always win out.

    Tell the truth Joe. You are living with your mammy and sharing a room with your brother aren't you?


  • Options
    #88
    Sir Oxman
    Closed Accounts Posts: 8,492 ✭✭✭Sir Oxman


    gallag wrote: »
    I rented a place for ovrr two years when the landlord handed the running of his property over to a letting agent, agent sends we a letter saying rent was rising and he would be entering the house to take photos, I said the date did not suite as me and the wife would not be there, he just said we did not need to be there. After that it did not feel like a home anymore, knowing I had no say in who entered so I bought my own house and now I have a home again. Hate the thought of renting now. Its not all about the money, also when I am 50 I will have no mortgage or rent to pay.

    You didn't enforce your rights.


  • Options
    #89
    coffee_cake
    Moderators, Category Moderators, Politics Moderators, Recreation & Hobbies Moderators, Society & Culture Moderators Posts: 81,310 CMod ✭✭✭✭coffee_cake


    Sir Oxman wrote: »
    You didn't enforce your rights.

    Indeed, the landlord must give 24h notice before entering with consent, and I suppose the same must be so for the agency


  • Options
    #90
    faceman
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators, Social & Fun Moderators Posts: 16,590 CMod ✭✭✭✭faceman


    The Backwards Man wrote: »
    There's a difference between being condescending and having no sympathy.

    People made choices of free will. I don't judge them for it, but it is neither mine nor anyone else's fault they are in the situation they are in.

    It's not my fault that someone makes a choice to smoke and gets cancer or heart disease as a result but I don't begrudge the tax I pay being used to help them


  • Advertisement
  • Options
    #91
    gallag
    Banned (with Prison Access) Posts: 3,355 ✭✭✭gallag


    Sir Oxman wrote: »
    You didn't enforce your rights.

    How? They gave plenty of notice, I did not want to take time of work to be there, they said they did not need me to be there but they would still be coming to take photos of my home. What were my rights I did not enforce?


Advertisement