Tell me your stories about buying alone.

myshirt

Of a single person, or any person(s), can buy more house than they need, then that is dysfunction. The days of a 3 bed for a single buyer are gone.

The J Stands for Jay

Loveache wrote: »

I get that's unclear. What I mean is, I'm not going to live in say Leitrim and try to commute to and from Dublin every day for work. And have that be my life. Work, bus/car, sleep, repeat.
I'd probably get a new job in say Belfast where there are houses on a decent bus route to it for 85k sterling. Kiss goodbye to my social/romantic life though doing that.

You'd probably have a better social life there. Accommodation and nights out are cheaper there.

SNNUS

myshirt wrote: »

Of a single person, or any person(s), can buy more house than they need, then that is dysfunction. The days of a 3 bed for a single buyer are gone.

Single, recently bought a 3 bed.

Creamy Goodness

myshirt wrote: »

Of a single person, or any person(s), can buy more house than they need, then that is dysfunction. The days of a 3 bed for a single buyer are gone.

Single and bought a 4 bed.

Addle

4 bed also, but is a 2 bed with a study and room for hobby storage.

Ursus Horribilis

I bought a 3 bedroom on my own when I was single. My salary was more than twice what you're earning though. It's in a large regional town.

If you've a civil service job (sounds like it if you're talking about increments), you won't be immune from any future financial crashes. Last time round, the government brought in a promotion and recruitment embargo. The pension levy and reduced salary scales took a big chunk out of people's take home pay too.

Maybe you need to reconsider that Dublin or abroad mentality. Depending on what it is you do, you could relocate to somewhere else that isn't Leitrim or a two horse town. You'd be leaving your Dublin life behind if you emigrated anyway so why not split the difference?

Edit :the hardest part I've found about buying alone isn't the mortgage itself. It's the bills. Not just having nobody to split fuel and electricity bills with but the other stuff. Paying for boiler services, house maintenance, replacing appliances etc. The first couple of years were tough too because I was having to buy things for the house. Everything from the bed I slept in, the sofa in the living room and the kitchen table to the lawnmower in the shed. Even if you don't go mad buying expensive stuff, it all adds up

Cuddlesworth

Ursus Horribilis wrote: »

Edit :the hardest part I've found about buying alone isn't the mortgage itself. It's the bills. Not just having nobody to split fuel and electricity bills with but the other stuff. Paying for boiler services, house maintenance, replacing appliances etc. The first couple of years were a bugger too because I was having to buy things for the house. Everything from the bed I slept in, the sofa in the living room and the kitchen table to the lawnmower in the shed. Even if you don't go mad buying expensive stuff, it all adds up

So much this, houses are expensive. Even if they bought and their mortgage was less then their current rent, it would be real easy to fall into debt at that income with a few unfortunate repairs needed.

LirW

OP, be realistic about your promotions in the civil service.
If you're lucky you might make a higher rank within 5 years but chances are that you might not. Many civil servants had no upcoming promotion competitions in a decade and are just getting the chance now. It is certainly not the gravy train people sometimes make it out to be.
Competition is stiff.

Would be a transfer elsewhere be an option? Say you could get a transfer into more affordable counties after your initial service you have to do in Dublin, you might have a better chance to buy property.

riclad

We are close to the point where most single people will find it impossible to buy a house in dublin or any city in ireland.Of course you can buy a house in rural area,s or a small town and commute .
Young people used to just buy a single one bed apartment to get on the property ladder ,but even that may now be too expensive for most people .

SozBbz

OP, sorry to say it but you are currently in no position to buy. You seem to think this is everyone elses fault, and is somehow fundamentally unfair but you need to adjust to a few realities.

1. No bank is going to give you an exception -they can only give a certain % of their loanbook exceptions each year and they will reserve them for more desirable candidates. Your disposable income is too low and stress testing likely would not come out well.
2. You don't earn enough. You need to put youself on any list going for social/affordable housing.
3. Owning a property is expensive. Its not just the cost of your monthly mortgage payment, but management fees (if in a complex) property tax, and repairs and maintenance. I regularly have to spend out on unforeseen expenses.
4. There is a good reason why bank stress test single applicants more heavily than couples. As a single person if you lose your income for whatever reason, then their loan may not be repaid. Its less likely that 2 individuals will simultaneously lose their incomes, so theres less likelihood that that mortgage payments would be missed.
5. You've not factored in the other costs of buying, just a deposit. You need to think of legal fees, valuations, surveys and stamp duty. You need to have funds to cover theses + your deposit.

This is only some of whats wrong with your plan. I think you need to be more accountable and realistic.

Heres Johnny

I bought a 3 bed in Lucan alone.
Girlfriend bought a 4 bed in maynooth alone. After crash and before recovery. 2010 for me 2011 for her.
Both were about 30 at the time but higher incomes, professional jobs. We were both in the 60k range of incomes. Underwriting for me was extremely lax I'd say if my case was audited someone would be sacked and bank fined. Took a day for approval and all I submitted was 1 pay slip and 6 months bank statement. Bought the house a week after applying for a mortgage. I had a credit card bill, car loans, spent like crazy, had struggled on a loan in my 20s and some of my deposit was a gift.
I think we'd both be exempted today so we'd both still be able to do it but in my case I'd have to spend a few months tidying up bank statements.

mariaalice

There is a type of person who can make it work a relative of my first husband purchased a house aged 20 in the 90s, however, they were the type to have two jobs. rented out the spare room, no social life what so ever and were being fed by their parents.

My brother purchased as soon as he got his first job the house was barely habitual just enough that it was mortgageable he sleep in a sleeping bag on the ground floor as there were holes in the floors of the upstairs rooms he has a television, a kettle, and a microwave there was no kitchen to speak off. He renovated it little by little after work and eventually sold and made good money on it.

The above takes a certain mindset and is not for everybody.

Jet Black

I bought alone in Dublin too in 2015, but I was on more than the op and saved 1k a month for two years before being able to buy. It was a different market then, house prices have nearly doubled since. If I was to start again today for the house I'm in now I'd need 5 years of saving at 1k a month and the market would need to stay the same or decline.