Buying a property

Jeannetta

Hubby and I are thinking to start a family in Dublin and buy our own place rather than keep renting. But it can be hard for young people, there are so much unsures to live in Dublin related current economic. But I still want a house to start even there is a bit travel to work. Hobby thinks we can start with an apartment since the price of apartment would not put too much pressure on us with mortgage wise. And it could be more flexible for us if any change happens. Especially apartment also can be rented out those ones near city centre. Anyone had been in that struggle and got through it . Would u like to share a bit with us? It will be a great pleasure to share your idea on this matter. Sorry a bit long talking.

pwurple

If you are happy to have a child in an apartment then go for it. Some of the apartment blocks in Ireland are not suitable, but I'm sure some are.

If your plan is to buy an apartment and then sell it to move to a bigger place later, all I can say is that doesn't always go to plan. We managed to have a baby just as the banking crisis was kicking off, and had our place on the market for a year before it went sale agreed. Buying property is longer term than renting due to expenses like legal fees, estate agent fees and stamp duty on the transactions of buying and selling. Think 5 years down the line if you can.

Gweedling

I'm from Dublin originally, met my wife while living in London. We planned on moving back to Dublin to settle down. The plan was to move back, rent a place for a year or so while saving up for a house, then buying. We were fortunate enough to still have family here, so when we moved over we stayed in my parents house for two months while finding jobs/an apartment to rent. we moved into an apartment in phibsborough, lived there for a year (1 bed apartment @ €800pm) while saving for a deposit. We were also helped out by my wife's family, she got some inheritance, which paid for most of the deposit/moving expenses. We bought a house in Meath a few months ago, and apart from the commute to work (an hour for me, 40 minutes for her) we're very happy. We haven't got kids yet, but we'll be starting a family within a year or so once we're properly settled and have bough enough furniture etc, then saved enough to support a newborn in the house.

A lot of people will argue (here especially!) that renting an apartment is "dead money", and I'd be inclined to agree, at least with a mortgage the money is going towards something you may eventually own.


Renting near the city centre is a good idea, you can get a 1 bed apartment 5-10 minutes from town anywhere from 700-1000pm. I'd reccommend it to start up and get used to living in the area, but I wouldn't reccommend starting a family while renting, especially because of all the extra space you'll need. My advice is to rent for as long as you need while saving for a deposit/furnishings, then buy. If you're not too worried about a commute then look outside Dublin, as house proces in Dublin are way overpriced for a not so good quality. Places like Ashbourne, Clonee, Ratoath, Leixlip, Celbridge etc are all relatively close to Dublin, yet don't have the overinflated price tags. I definitely reccommend giving it a year or two between buying the house and having kids, as there are an unbelievable amount of extra costs tied in to buying a house, and then the cost of furnishing it, then the cost of living in it - setting up bin collection, internet, electricity, TV license, the lost goes on and on.

It's a huge step to take and the next few years will be very hard work, I wish you the best of luck with it! Thread followed so if you've any other questions feel free to ask

Jeannetta

Thank you so much for lighting us with your experience. Feel that we are not on our own. I will keep updating what is happening to us. Thank you so much Pwurple and Gweedling.