Accommodation as a single adult

The Red m

I'm in my mid 30s and house sharing. This year I've been thinking about something more permanent than house sharing. I done a quick search and to get a mortgage you're meant to be on a salary of 35000. I will never earn this much. I'm currently on minimum wage.

Is there a solution to own a permanent property in my situation? I don't think I can afford rent on a one or two bed property either. I'd be happy in a caravan if it's my own home and space.

It was only a thought this year and I'd like to look into things. So my question is, what can I get if I can get anything at all?

messy tessy

The Red m wrote: »

To get a mortgage you're meant to be on a salary of 35000. I will never earn this much

I don't have any suggestions about the property options suitable to you, but the above struck me as a little curious. Have you thought about upskilling? Would this be an option in your line of work?

The Red m

messy tessy wrote: »

I don't have any suggestions about the property options suitable to you, but the above struck me as a little curious. Have you thought about upskilling? Would this be an option in your line of work?

I read that it's a salary of 35000 for a single person to get a mortgage. Even if I upskilled, I will never earn 35000 in my work. I would need a change of career and I don't know where or what I'd like to do and to do something solely for the money.

I don't know what to do. It's something I'd like to look into, to own my own home.

You can start looking into council housing or social and affordable housing.

Get married, change jobs, move area?

myshirt

What job are you in that is only paying you minimum wage in your mid 30's?

How many years experience have you? What is your career plan?

The Red m

[Deleted User] wrote: »

You can start looking into council housing or social and affordable housing.

Get married, change jobs, move area?

I don't want to get married just to have a house.

I can change jobs, but will never earn enough to get a mortgage.

I can move area, but it would probably be in the middle of nowhere. I'm based in a city and would like to stay close. Moving out would mean getting a car and more expense.

Council housing or social and affordable housing, do I need to be getting state benefits for one of those options?

http://www.citizensinformation.ie/en/housing/local_authority_and_social_housing/applying_for_local_authority_housing.html

Unfortunately there is a housing crisis and you will be competing for limited places with families, the unemployed etc.

Rackstar

The only solution here is to earn more.

Focus on upskilling / training.

BBMcQ

I'm biting my tongue on this one as I would assume a lot of people are. Money is not for money's sake. If you want something in life, you work for it. You work harder, smarter, earlier, later, for longer than the other person who wants the same thing as you. In your mid 30's there is plenty of time to get a career together to make the money you need to get the accommodation you want within a few years. But it's not gunna fall into your lap.

Graft. Sweat. Smarts. Go get what you want!

messy tessy

Entirely agree with the above.

The Red m wrote: »

I can change jobs, but will never earn enough to get a mortgage

Also I would get this out of your head. It's just not true. If you want something badly enough you will make it happen.

Mrs OBumble

[Deleted User] wrote: »

http://www.citizensinformation.ie/en/housing/local_authority_and_social_housing/applying_for_local_authority_housing.html

Unfortunately there is a housing crisis and you will be competing for limited places with families, the unemployed etc.

Regardless, if you cannot see yourself getting a decent wage ever, for whatever reason(*), then you should be registering with the council for housing assistance now. Most likely you won't get offered anything until you are over 55, but you need to start now.

Im the meantime, get used to housesharing because now bedsits are illegal its your only option.


(*) other posters need to remember that we don't know what disabilities etc the poster has. There may be valid reasons why they will never earn much and are exactly the sort of person who social housing is for. I have less issues with giving cheap housing to someone working on a minimum wage than someone not working at all.

TheBully

Can I ask why you say you will never earn enough to get a mortgage? There are some decent opportunities out there if you look

rubberdungeon

The Red m wrote: »

I'm in my mid 30s and house sharing. This year I've been thinking about something more permanent than house sharing. I done a quick search and to get a mortgage you're meant to be on a salary of 35000. I will never earn this much. I'm currently on minimum wage.

Is there a solution to own a permanent property in my situation? I don't think I can afford rent on a one or two bed property either. I'd be happy in a caravan if it's my own home and space.

It was only a thought this year and I'd like to look into things. So my question is, what can I get if I can get anything at all?

It might be worth looking into something like this. I don't know what county you live in but you could check with your county council to see if you would qualify for a Home Purchase Loan from them.

Here's an example, this is from Dublin City Council Home purchase Loan Scheme:

If you wish to purchase a home in the administration area of Dublin City Council, you can apply for a Mortgage/Loan called the Home Purchase Loan.

The maximum we can lend you is €200,000 (or 90% of the purchase price of the property. Your loan is then repaid to us over 30 years.

Several other terms and conditions apply. Read more about these terms and conditions below.

It costs €75 to apply for this scheme.

To be eligible for a house purchase loan applicants must:

Be First Time Buyers and neither applicant can be a previous owner or current owner of a property.

Be aged between 18 and 70 years

Be earning under €50,000 in the previous tax year as a single applicant or in the case of a joint application both incomes should not be greater than €75,000 in the previous tax year.

Be in continuous permanent employment (this can be self employed) for at least two years in the case of the primary earner and in continuous permanent employment for one year in the case of a second applicant

Of good credit standing with a satisfactory credit record (a credit check will be carried out before loan approval is granted)

Have an indefinite right to remain in Ireland either through nationality or refugee status (Stamp 4)

Have been refused by two lending agency’s for mortgage approval and be able to show evidence of refusal

Be in a position to provide a 10% deposit on the property i.e. on a loan of €200,000 applicants must have a minimum deposit of €20,000.

Provide proof of marital status (if divorced, legal documents must be submitted)

If you meet all of the above criteria you will be eligible to submit an application.

http://www.dublincity.ie/main-menu-services-housing/apply-mortgage

The Red m

Thanks for the info on the home purchase loans. That sounds like the best option for me. I do have some savings. But I think I'll be a few more years away from 20000 for a deposit, about 3 more years.

The Red m

Actually, I read it wrong, I don't need a 20000 deposit. I need a 10% deposit. I'm sure there's cheaper houses than 200000.

endacl

The Red m wrote: »

Actually, I read it wrong, I don't need a 20000 deposit. I need a 10% deposit. I'm sure there's cheaper houses than 200000.

http://www.dailyedge.ie/cheapest-houses-ireland-1500077-Jun2014/

A bit unfair to be harping on about the OP's income. He reckons he's on minimum wage, and has posted in an accommodation and property forum, not an upskilling and jobs forum.


OP, depending where you live, and what your actual life is like (if you spend a lot, or live frugally) you could well buy your own house.

It's unlikely you'll get a 3 bed detached in Dublin City Centre with a large back garden, but if you're being realistic there's no reason you couldn't own something.


For a house up to about €80k, provided you can muster up 10% of the cost yourself, you could always go to the Credit Union for a home improvement loan. What they do is they secure the loan against the house, and will only give you 90% of the value of the house. It's a mortgage in everything but name, although it does carry a higher interest rate (usually about 6%). For this to happen, you'd need to have some decent history with the Credit Union and no bad marks against you financially.


Here's one for auction at 25k

http://www.daft.ie/cavan/houses-for-auction/belturbet/27-holborn-hill-belturbet-cavan-1496017/



Here's one a bit richer, at 75k, but has 3 rooms so you could continue to house share and rent rooms to people to get cash in

http://www.daft.ie/cavan/houses-for-sale/cavan/55-harmony-heights-cavan-cavan-1497187/


(I just searched Cavan for some random reason, but you get the general idea).

Both will cost money in refurbishment, neither are in extremely sought-after areas, but both are an opportunity to own your own home with a small deposit and reasonable repayments. Both will turn into hobbies as you work away on them over the years and both have the potential to eventually be your own property, owned outright.

GoneHome

What part of the country are you looking to buy in OP?

LirW

With a credit union loan you still don't own outright - you have debts against the house. If you don't pay there lies your liability.

Just a word to auctions: you need a very good and quick solicitor for it because these properties usually have some messed up titles, are in receivership and this costs money, plus the survey upfront, it would be somewhat mad buying without a survey.

Still KKV has a good point there, it might not be Dublin, but it's not the center of the world.

the_syco

The Red m wrote: »

I can move area, but it would probably be in the middle of nowhere. I'm based in a city and would like to stay close. Moving out would mean getting a car and more expense.

Is your job transferable? If you got a cheap house down the country, what's the chances you'd get a similar job there?

The Red m

the_syco wrote: »

Is your job transferable? If you got a cheap house down the country, what's the chances you'd get a similar job there?

In the country, not a hope. But in a town, yes.

It's very early thoughts on this but it's something to work towards. Thanks for all the replies, I think the home assistant loan might be the best option.

1874

Deleted User wrote: »

A bit unfair to be harping on about the OP's income. He reckons he's on minimum wage, and has posted in an accommodation and property forum, not an upskilling and jobs forum.


OP, depending where you live, and what your actual life is like (if you spend a lot, or live frugally) you could well buy your own house.

It's unlikely you'll get a 3 bed detached in Dublin City Centre with a large back garden, but if you're being realistic there's no reason you couldn't own something.


For a house up to about €80k, provided you can muster up 10% of the cost yourself, you could always go to the Credit Union for a home improvement loan. What they do is they secure the loan against the house, and will only give you 90% of the value of the house. It's a mortgage in everything but name, although it does carry a higher interest rate (usually about 6%). For this to happen, you'd need to have some decent history with the Credit Union and no bad marks against you financially.


Here's one for auction at 25k

http://www.daft.ie/cavan/houses-for-auction/belturbet/27-holborn-hill-belturbet-cavan-1496017/



Here's one a bit richer, at 75k, but has 3 rooms so you could continue to house share and rent rooms to people to get cash in

http://www.daft.ie/cavan/houses-for-sale/cavan/55-harmony-heights-cavan-cavan-1497187/


(I just searched Cavan for some random reason, but you get the general idea).

Both will cost money in refurbishment, neither are in extremely sought-after areas, but both are an opportunity to own your own home with a small deposit and reasonable repayments. Both will turn into hobbies as you work away on them over the years and both have the potential to eventually be your own property, owned outright.

The first one says reserve not to exceed 30k, I cant see the 25k mentioned, reserve not to exceed? does that not mean they accept 30k as sold

lisasimpson

A here who suggested get married...it aint that easy to meet someone.
as someone in 30s the house sharing gets to the stay where you just want in your own. I had no choice to rent either. I reduced the number of people i shared with.
To help speed up with savings towards your own place on the min wage any chance of picking up ad-hoc work near where you live. Maybe a day here and there every now and then? I know we all work long days etc but just for short term maybe a few hrs house cleaning, babysitting, farm work seasonal work at christmas etc