The rat race ?!

Seeing more and more 4 bed detached houses for sale in rural locations for under $150,00. Began to wonder if all the people doing 4 year degrees then post grads then moving to Dublin and paying half a million and more in mortgages are absolutely totally off the moon who-ha crazy?

Here is the thinkin behind it all:

Rural Ireland doesnt have the same types of jobs available in Dublin but it does have minimum pay jobs and few places are more than 20 minutes away from a big town

Assume a mortgage of 100k at something like $565 a month according to a mortgage calculator. Minimum wage times a 40 hour week gives you $1400 approx a month. Leaving you nearly $900 a month for everything else

If you got a place in or near Dublin for $270,000 your monthly payments would be around $1455. To have $900 a month left over you would need to be on over $28,000. But really what kind of 4 bed place could you get half an hour hassle free commute from Dublin?

Maybe it isnt so crazy for a degree or masters qualified person to just give up the rat race commute to work a min wage job in something like bar work or some tourism type thing out in the sticks!

Was using this calculator:
http://www.mortgages.ie/go/first_time_buyers/mortgage_payments_calculator?mode=basic&go=go&buyer_type=First+Time+Buyer&house_price=300000&product=2&amt=270000&lender=-1&status=Single&comparison=loc&term=25&x=24&y=8

I'm educated to masters level. I live away from the rat race. I have about four beans to my name and they aren't even magic.

Not entirely sure what my point is.

Guy:Incognito

Try to get paid in Euro, that'll make those bills look even cheaper.:)

Guy:Incognito

Deleted User wrote: »

.

Not entirely sure what my point is.

i'm pretty sure it's about getting a sliced pan to make toast for your beans.

Guy:Incognito

Guy:Incognito wrote: »

i'm pretty sure it's about getting a sliced pan to make toast for your beans.

I wouldn't mind some toast now in fact. And sleep.

whiskeyman

Supply and Demand at the end of the day.
Far more people want to live in big city with lots of facilities / amenities etc...
Lucky are those who don't as it sure suits the wallet better!

smash

Deleted User wrote: »

But really what kind of 4 bed place could you get half an hour hassle free commute from Dublin?

None. Your half an hour will quickly turn in to at least 2 hour commute during rush hour.

kneemos

Yeah,everybody outside Dublin lives on minimum wage.

Another tech is God slave.

c_man

Not specifically talking about Dublin here, but tbh I'd prefer to live somewhere that I have local amenities that I can easily walk to or get to without a car. The thought of being dependent on a car for everything (even bringing the kids that don't exist yet, to their friends) depresses me.

Eugene Norman

[Deleted User] wrote: »

Seeing more and more 4 bed detached houses for sale in rural locations for under $150,00. Began to wonder if all the people doing 4 year degrees then post grads then moving to Dublin and paying half a million and more in mortgages are absolutely totally off the moon who-ha crazy?

Here is the thinkin behind it all:

Rural Ireland doesnt have the same types of jobs available in Dublin but it does have minimum pay jobs and few places are more than 20 minutes away from a big town

Assume a mortgage of 100k at something like $565 a month according to a mortgage calculator. Minimum wage times a 40 hour week gives you $1400 approx a month. Leaving you nearly $900 a month for everything else

If you got a place in or near Dublin for $270,000 your monthly payments would be around $1455. To have $900 a month left over you would need to be on over $28,000. But really what kind of 4 bed place could you get half an hour hassle free commute from Dublin?

Maybe it isnt so crazy for a degree or masters qualified person to just give up the rat race commute to work a min wage job in something like bar work or some tourism type thing out in the sticks!

Was using this calculator:
http://www.mortgages.ie/go/first_time_buyers/mortgage_payments_calculator?mode=basic&go=go&buyer_type=First+Time+Buyer&house_price=300000&product=2&amt=270000&lender=-1&status=Single&comparison=loc&term=25&x=24&y=8

I've actually been thinking of going to live in Waterford city and trying to get contract jobs which allow me to tele commute. I reckon I could get English jobs like that (with a bit of travel) because I contracted there before. The holy grail is high wages, low property, decent enough amenities.

JustShon

How about having a challenging and fulfilling job?

I don't want to work a minimum wage job because I'd be bored in most minimum wage jobs. Pay isn't all that important to me since I can adjust my standard of living to suit my means. I want a challenge in my job though, something that can engage my brain.

There's also the amenities point someone else brought up; I live 2 minutes walk from a cinema and shopping centre. What are the chances of having that kind of convenience in the countryside?

Eugene Norman

JustShon wrote: »

How about having a challenging and fulfilling job?

I don't want to work a minimum wage job because I'd be bored in most minimum wage jobs. Pay isn't all that important to me since I can adjust my standard of living to suit my means. I want a challenge in my job though, something that can engage my brain.

There's also the amenities point someone else brought up; I live 2 minutes walk from a cinema and shopping centre. What are the chances of having that kind of convenience in the countryside?

That's why a relatively decent sized place like Waterford city would be my pref. (I'm a dub btw).

The_Valeyard

Meh, just seems to be that we work so the rich and powerful can play

Maximus Alexander

I do hate other commuters. Either I should be able to work from home, or everyone else should. Just get out of my way.

JustShon

Eugene Norman wrote: »

That's why a relatively decent sized place like Waterford city would be my pref. (I'm a dub btw).

I'm a dub too. Yeah I think somewhere in the commuter belt wouldn't be too bad. Wicklow, Meath, Kildare would all be viable places to live with decent facilities and lower rent than Dublin.

I'd never like to live somewhere where doing the grocery shopping is an expedition.

Wesser

There no way that someone on 28000 could afford to buy a place for 270000.

1455 plus 900 is 2355 x 12 is 28260. I think you forgot about income tax????!!!

More like you would need to be on 50 or 60 k.

JustShon

Wesser wrote: »

There no way that someone on 28000 could afford to buy a place for 270000.

1455 plus 900 is 2355 x 12 is 28260. I think you forgot about income tax????!!!

More like you would need to be on 50 or 60 k.

Yeah I think you'd want a take home pay of about €30k.

I'm on €28k pre-tax and living in Dublin, I don't see myself getting a mortgage anytime soon.

SEPT 23 1989

If you are buying a house you are part of the "rat race" no matter where you live

Maximus Alexander

SEPT 23 1989 wrote: »

If you are buying a house you are part of the "rat race" no matter where you live

You don't even need to be buying a house, you just need to be alive and without vast wealth sufficient to sustain you for the rest of your days.

Think I am stupidly lucky and am awaiting with some dread the day it all changes somehow. I live out in the general area of Maynooth and the main desk part of my job (When I am not on the road - or working from home) is in the general area of Blanchardstown. I got my land and property at a relative steal - and my commute is actually not bad at all. I take slightly longer routes than I need to - but on little used back roads - and get to work and home surprisingly quickly.

If my job or house ever has to change - I will probably go mad. A long commute is just something I am not built to handle - especially with my life schedule that I follow.

biko

Deleted User wrote: »

If you got a place in or near Dublin for $270,000 your monthly payments would be around $1455. To have $900 a month left over you would need to be on over $28,000. But really what kind of 4 bed place could you get half an hour hassle free commute from Dublin?

$ means dollar.
Do you live in Dublin, Ohio?

Pac1Man

CTRL+ALT+4 for Euro symbol.

The Randy Riverbeast

Living in the ass end of nowhere is cheap but you'll need a car to get anything done, then there are no amenities. I would end up being one of those people who think I should have fibre broadband despite being unable to see my nearest neighbour.

I see what you are getting at OP but I do see some problems that you haven't considered.

Saving for a deposit and qualifying for a mortgage would be difficult.

A minimum wage job will probably always be a minimum wage job. The graduate or skilled job would hopefully offer opportunities for advancement.

Unemployment is higher in rural areas so any job will be harder to get.

Extra costs of running a car and having less choice for things you need.

You would have to live in a place like Ballyhaunis.

You might have to forego certain luxuries that you otherwise might be able to afford.

KomradeBishop

At the end of the day, the city is designed to have you putting as much of your income into other peoples pockets (particularly unearned rentier profits), as is possible, without pissing off enough everyday people, to trigger a political blowback that would undo it all.

All of that revolves around the property market and finance/banking, and keeping politics either corrupt/'captured'/hamstrung enough, to prevent reforms that would undo this massive money-maker.

The solution isn't to bugger off out into the country where houses are cheaper, it's to fix the politics, and properly regulate the property/finance/banking sectors - with a good dose of public policymaking aimed at improving housing/infrastructural availability in the city.

Bringing house prices back down, and incentivizing new housing supply at relatively low-cost, isn't actually hard at all. It's not going to happen while rentiers have disproportionate control over policymaking though - which they do.

biko

biko wrote: »

$ means dollar.
Do you live in Dublin, Ohio?

Pac1Man wrote: »

CTRL+ALT+4 for Euro symbol.

for the pedants, my aussie keyboard wont do that. I could copy and paste a euro symbol but naaaah

The Randy Riverbeast

The Randy Riverbeast wrote: »

Living in the ass end of nowhere is cheap but you'll need a car to get anything done, then there are no amenities. I would end up being one of those people who think I should have fibre broadband despite being unable to see my nearest neighbour.

yeah thats all well and good but i know very very few people who dont have a car in Dublin!

Deleted User

Deleted User wrote: »

I see what you are getting at OP but I do see some problems that you haven't considered.

Saving for a deposit and qualifying for a mortgage would be difficult.

A minimum wage job will probably always be a minimum wage job. The graduate or skilled job would hopefully offer opportunities for advancement.

Unemployment is higher in rural areas so any job will be harder to get.

Extra costs of running a car and having less choice for things you need.

You would have to live in a place like Ballyhaunis.

You might have to forego certain luxuries that you otherwise might be able to afford.

yeah some good points. I suppose some people could work in Dublin a few years, save a deposit, then head back to the sticks to work at anything and be better off.

I mean who likes traffic all that much?

josip

I'm from very close to Waterford and there's a reason I chose to stay in Dublin after I finished university rather than go back there.

But that was a long time ago and things might have changed since then.

PC Lackey

Google earth my paddies.

There be hoods outside of Dublin.

Check that sht out.

Its aint just Dublin or Boglands.

donegaLroad

OP, you need to start a PJ business and buy a nice pad somewhere on the west coast that has decent internet.


*I only heard the term 'PJ business' for the first time today. Its where you sit in front of your laptop in your pyjamas and watch the orders rolling in through your online shop.. great in theory, I know.

Nomis21

If you are into DIY, for less than the price of a second hand car you could buy a house for €12,000 in Ballina which has a train station with a relaxing 3 .5 hour commute to Dublin. Or you could even afford to do the minimum wage job.

http://www.daft.ie/mayo/houses-for-auction/ballina/15-mount-assumpta-ballina-mayo-1129502/

StupidLikeAFox

Pac1Man wrote: »

CTRL+ALT+4 for Euro symbol.

You could also use the angry alt button - Alt Gr + 4

Jesus Wept

Nomis21 wrote: »

If you are into DIY, for less than the price of a second hand car you could buy a house for €12,000 in Ballina which has a train station with a relaxing 3 .5 hour commute to Dublin. Or you could even afford to do the minimum wage job.

http://www.daft.ie/mayo/houses-for-auction/ballina/15-mount-assumpta-ballina-mayo-1129502/

Was it ransacked before they took the pics?

Nomis21

Je suis Mario wrote: »

Was it ransacked before they took the pics?

Yes I think it was ransacked but hey...

Looks like the price includes the furniture, which is pretty good nick.

Jesus Wept

Nomis21 wrote: »

Yes I think it was ransacked but hey...

Looks like the price includes the furniture, which is pretty good nick.

do you want to go splitsies?

Nomis21

But for commuting this one is better...

http://www.daft.ie/kildare/houses-for-sale/monasterevin/oldgrange-monasterevin-kildare-1160904/

Less than 50 minutes into Heuston station.

Still costs less than a Ford Focus

Whyohwhy?

I live in santry (northside dublin) It's a 30 min commute if I get the bus at half 7 to get to o connell St. At best. And it can be a horrible experience maybe 40/50% of the time. (worse if much further than dublin 2,and that's walking from lwr abbey St, most other places and that's another bus/luas) unless you're fairly close to Dublin and happen to be driving a moped/motorcycle, a half hour commute without an early start is nigh on a fantasy.

I get your point, but would question the wisdom of getting education up to degree/masters level and moving down to ballygofcukward just to get "away from the rat race", taking any aul job to keep a roof over the head and waste that education. It only makes sense if you are basically living off grid within commuting distance of decent employment (which you trained for) and are saving money overall.

Otherwise, stay near the employment areas and pay the going rents and save up(ie , be a dry ****e, but to be honest, ballygofcukward on min. Wage would be the same.) catch 22 ****e....

Don't waste that education unless you absolutely have to.

Whyohwhy?

I also have to ask, why does it have to be a 4 bed, that and I'd be very surprised if you find a 4 bed within 30 mins/50 mins stress free commute of Dublin for €270k
(i haven't read past the first post I have to add, just jumping in with my 2c...)

Whyohwhy?

Nomis21 wrote: »

But for commuting this one is better...

http://www.daft.ie/kildare/houses-for-sale/monasterevin/oldgrange-monasterevin-kildare-1160904/

Less than 50 minutes into Heuston station.

Still costs less than a Ford Focus

Imo , that's not that bad(if ye had cash to buy it outright) were working and we're willing to save like fcuk and tolerate two or three (probably) cold winters and aren't afraid of some diy/are friends with some tradesmen that would be very comfortable for around 55/70k(70k being very comfortable I reckon, including purchase , assuming it's not near a food area, which I suspect it might be)

Jesus Wept

it's a shed, you could probably pour 200k and it would still be ****, be better off knocking it.

Whyohwhy?

Je suis Mario wrote: »

it's a shed, you could probably pour 200k and it would still be ****, be better off knocking it.

Yeah could I'm sure, but with a bit of thought and graft it could be done for near enough what I said(ye'd be a while at it admittedly but it's far from impossible, better than taking out a 250k mortgage + interest over 25/30 yrs.)

The easy option(turn key, furnish etc) isn't always the cheapest. Though of course it could be a money pit. Due diligence is the key.

_Kaiser_

You do have to wonder why you bother sometimes alright..

I had my annual performance review lately and got a very good score for the last year's work with what should have been a nice bonus as a result.

Payday rolls around today and I've lost 50% of it in tax. And for what? As a single guy working in Dublin (but priced out of it in the last year so now commuting 1000 km a week) I get feck all for those taxes but pay everything individually anyway - health, waste, high rents etc

Permabear

This post has been deleted.

c_man

_Kaiser_ wrote: »

I had my annual performance review lately and got a very good score for the last year's work with what should have been a nice bonus as a result.

Payday rolls around today and I've lost 50% of it in tax.

Well done on your good review. I posted something similar last year in regards to my own bonus and had the head eaten off me by posters here!

If there's no option for you to take the bonus in shares or whatever, there's not much you can do really other than take it on the chin.

freedominacup

JustShon wrote: »

I'd never like to live somewhere where doing the grocery shopping is an expedition.

This reminds me of a comment my cousin made about his Waterford city born and reared father in law. The cousin reckons he gets a nosebleed every time he passes the Holy Cross (for the dubs amongst us think Newlands cross) on his way to visit his daughter in the untamed badlands around 10 miles from the city boundary. Nosebleed caused by stress.

osarusan

About 15 years ago, I was working very hard and making good money in Japan - working so much that I didn't have much time at all to spend my money. It was just accumulating, which was nice, but I was an absolute wreck, which wasn't so nice.

I knew the contract was coming to an end and had some fantasies of getting out of the rat race, and did some (brief) research into where was the cheapest English-speaking place in the world - the place where my store of money would last longest, before I had to go back to earning again.

The answer (at that time at least) was Kiribati. I spent a silly amount of my rare free time reading about it. There were times that I was very serious about doing it.

In the end though, I just changed positions.

The fact that Tawara Atoll, rather than being the pristine tropical water it appeared to be, was in fact one of the most polluted places in the world, put a bit of a dampener on it anyway.

osarusan

About 15 years ago, I was working very hard and making good money in Japan - working so much that I didn't have much time at all to spend my money. It was just accumulating, which was nice, but I was an absolute wreck, which wasn't so nice.

I knew the contract was coming to an end and had some fantasies of getting out of the rat race, and did some (brief) research into where was the cheapest English-speaking place in the world - the place where my store of money would last longest, before I had to go back to earning again.

The answer (at that time at least) was Kiribati. I spent a silly amount of my rare free time reading about it. There were times that I was very serious about doing it.

In the end though, I just changed positions.

The fact that Tarawa Atoll, rather than being the pristine tropical water it appeared to be, was in fact one of the most polluted places in the world, put a bit of a dampener on it anyway, as did the realisation that it wasn't so much a rustic way of life as real poverty.

Mr_Muffin

Why not get an education and get a well paying job outside of Dublin? They do exist and are a lot more plentiful than people think.

There is a big difference between 'living in a little backwards' town and living in a large town/smaller city.

Graces7

The Randy Riverbeast wrote: »

Living in the ass end of nowhere is cheap but you'll need a car to get anything done, then there are no amenities. I would end up being one of those people who think I should have fibre broadband despite being unable to see my nearest neighbour.

I have digiweb broadband and they will provide in all areas... seeking soon a rental even more isolated than this to retire to..do not need any amenities... was looking around Goleen and Mizen last week... some huge houses out there, No neighbours

Eugene Norman

Me and the OH are looking to buy in Dublin. Max mortgage = 280. Max price = 350. Exhausting savings.

I can get a moderate 3 bed in coolock for that. Nothing on the traditional middle class areas.

I'd prefer to go cheaper but I want to live close to a village centre (is raheny, clontarf etc) That leaves just appartments.

The centre of small Irish cities has more immediate attractions than much of Dublin. It's a pity Waterford is a jobs black spot because it's got impressive housing stock. And cheap.

http://www.daft.ie/waterford/houses-for-sale/waterford-city/richardsons-folly-waterford-city-waterford-1040258/