How much did your house cost?

NZ_2014

oldyouth wrote: »

IR£32,500 in 1986. To put it in to perspective, I was earning IR£11,500 per annum at the time

So you were earning 35.3% of the house value per year. So the rough equivalent would be somebody earning €50,000 per annum buying a house for about €140,000

Grayson

Wicklowrider wrote: »

1988. 26,000 punts. Average 3 bed semi.
Nearly backed out of deal because I was worried about getting that deep in debt. 2 years before that a mate was left a house in Smithfield , an old council house with an outside toilet, he offered it to me for 3, 500 cash. Thats not a typo.

I think back then an average worker could buy an average house in the Dublin area for aprx 2 years of his gross salary. If you had a secure factory job or something like that you could do a lot better. Something went seriously wrong

My parents bought their first house in the UK. It was in the mid 70's and my grand dad had left my mum £200. So they paid for a house with it and had enough for renovations.

When i was in college in 95 my landlord sold the house (a 4 bed semi in a nice neighbourhood). He said "lads, I bought this for 30k two years ago. It's worth 35 now. these prices won't last". He was right

oldyouth

NZ_2014 wrote: »

So you were earning 35.3% of the house value per year. So the rough equivalent would be somebody earning €50,000 per annum buying a house for about €140,000

Company I worked for did mortgages and the limit was 3.5 times your salary

Dredd_J

dirtyden wrote: »

It is crazy how things have changed. I bought a few years ago and I remember having a number of discussions with my dad about buying now compared to when he would have bought our old family house. Back than you would have needed at the very least quarter of the price up front in general, as well as having some serious security most likely provided by your parents house/farm/business versus the loan. But the average house price was as you have said somewhere between 2-4 times a decent annual income. Houses were cheaper and credit was more expensive but much harder access.

And generally women didnt work after they were married, and if they did, they were paid sh1t money.
Much more money coming into family homes nowadays.
Oh and income tax was outrageous. As was the interest rate they were probably paying.

Cee-Jay-Cee

235k originally with 193k still left to pay. It'll take me till feckin next christmas to pay the damn thing off!!!

The Letheram

Built it on my own land. 4 bed two storey doing a lot of work myself. Carpenter by trade in a previous life. €145k mortgage at the time but prob put in another €60-80k myself. Built it in 05. 4 years roughly left on the millstone around my neck every month.

Dredd_J

The Letheram wrote: »

Built it on my own land. 4 bed two storey doing a lot of work myself. Carpenter by trade in a previous life. €145k mortgage at the time but prob put in another €60-80k myself. Built it in 05. 4 years roughly left on the millstone around my neck every month.

You wouldnt be allowed to do that nowadays with the new regulations.
Pity. Id love to build my own house.

and other disasters

£29,000 in 1987. At the height of the boom people paid around €400k to be my neighbours, feel kinda sorry for them, not least for having to live next to me!

MRnotlob606

a fiver