How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

Yurt2

Amirani wrote: »

Again - they can afford a mortgage. They can afford a mortgage for a 1 or 2 bedroom dwelling, not for a 4 person dwelling; which they don't need.

Why people persist with this notion that single income earners need to be able to afford a house in Dublin that's designed to accommodate 4 or more people I have no idea.

There is fanny all appropriate and affordable one and two beds in the housing stock as well.

Yurt2

Cyrus wrote: »

the implication that there should be houses for all in the most desirable part of the country is childish

Never said that. I'm making the case that they should (and could be if appropriate government intervention is made) be affordable to those earning a decent wage.

Any further revelations for us on the space shuttle program?

Idbatterim

eviltwin wrote: »

Making sacrifices to save for a deposit is not a new concept, it's always been that way. Most people I know who bought houses under 35 spent most of their 20's saving, we still lived our lives but modestly. That's how it has to be for most of us, we don't have rich parents or lotto wins to fall back on and we earn an average wage.

I had a two hour commute when I bought my house for nearly ten years, I had to buy where I could afford which was far away from work and my social circle....thats just how it is.

this kind of post makes me laugh! Didnt varadkar himself say, "saving and getting a mortgage for a house were never easy" I dont doubt that, but it was a hell of a lot easier than now, probably a multiple!

All of these posts saying, "I moved hours away" "I saved and got my own place" all well and good, was that when the banks were throwing out money like confetti? Were you able to take advantage of the overshoot on the way down. Well guess what? many couldnt! Did you manage to pay back virtually no mortgage during the recession and get away with staying in "your" home?

It is a totally different story now, so unless you have bought recently with the current rules and havent had a hand out from the bank of mum and dad, spare me the laughable comparisons!

f@steddie

Yurt! wrote: »

There is fanny all appropriate and affordable one and two beds in the housing stock as well.

OK then save for longer for the 380k house.

Yurt2

f@steddie wrote: »

OK then save for longer for the 380k house.

We've found the answer. Someone call the housing ministry, they can take the rest of the week off. Someone on boards has cracked it.

Cyrus

Yurt! wrote: »

Never said that. I'm making the case that they should (and could be if appropriate government intervention is made) be affordable to those earning a decent wage.

Any further revelations for us on the space shuttle program?

who is defining decent?

and you have the wrong man on the space shuttle

myshirt

There are brand new 2 beds going in Miller's Glen Swords and they will only sell them to low income purchasers. No funds, investors, or middle income purchasers.

Amirani

Yurt! wrote: »

There is fanny all appropriate and affordable one and two beds in the housing stock as well.

There's lots of suitable 1 and 2 bed apartments available for less than €200k in Dublin. This should be what a single income earner on a modest salary should be aiming for.

Tar.Aldarion

f@steddie wrote: »

They could with a larger deposit.

They'd need a deposit of 145k and the other expenses involved on top of that.

Yurt2

Tar.Aldarion wrote: »

They'd need a deposit of 145k and the other expenses involved on top of that.

And, in the current climate, the 380k house won't stay at 380 while one is saving. Not unreasonable to think it would be at 450 or so in a couple of years.

Tar.Aldarion

Amirani wrote: »

There's lots of suitable 1 and 2 bed apartments available for less than €200k in Dublin. This should be what a single income earner on a modest salary should be aiming for.

Dunno, they may look ok on the surface but as somebody who has lived in a lot of these places I'd never want to buy one, the standard is shocking for apartments compared to other countries I've stayed in, it would be even worse at the lower end cheap apartments. Can well imagine moving in to a place that will fall apart.

f@steddie

Tar.Aldarion wrote: »

They'd need a deposit of 145k and the other expenses involved on top of that.

Yes. Not going to save it overnight.

So either knuckle down or else accept somewhere smaller / further out.

Tar.Aldarion

Yurt! wrote: »

And, in the current climate, the 380k house won't stay at 380 while one is saving. Not unreasonable to think it would be at 450 or so in a couple of years.

Yep, honestly all people can do in that situation is save and hope for a crash, which is essentially hoping for hardship on another person. The alternative is low standard apartments with no storage to boot or living far away, even though I'd consider that a high salary. So if those people @70k start taking all these places, anybody else gets to live on the west coast :P

witchgirl26

Eric Cartman wrote: »

This ‘move somewhere else’ ‘you chose to be in dublin’ argument is a bit flawed, how many fund accounting jobs are in cashel ?

Not sure about Cashel but when I was auditing fund accounting there was a massive operation in Wexford as I had to go down there a lot. Everyone there was on decent enough salaries (mid-recession) and well able to afford houses locally.

I know professional accountants living in many parts of the country - some professions are needed everywhere. Accountants and lawyers are just 2 I can think of off the top of my head.

Deleted User wrote: »

This has been covered over and over in this thread. There is a cost to living. Food, phone, car, fcuking weddings, the odd night out; take your pick.

I'm saying mortgage payments seem to be less than what I'm paying in rent. My rent is such a chunk that I can barely save. I've been trying to put away 1/5 of salary for a while now but it usually ends up being closer to 1/10.

And banks will take into account what you're paying in rent each month to calculate your ability to repay on a monthly basis which can lead to you getting a higher multiple of your salary based on history. However they can't magic up a deposit for you and that's the problem. 100% mortgages aren't the answer - hell they are half the reason we got into such a mess in the first place. Save your deposit and show that you can repay that amount and away you go.

Cost of living is fine and yep there are things however saving is something you have to do and put up with the pain if you want the gain at the end of a house.

Idbatterim wrote: »

this kind of post makes me laugh! Didnt varadkar himself say, "saving and getting a mortgage for a house were never easy" I dont doubt that, but it was a hell of a lot easier than now, probably a multiple!

All of these posts saying, "I moved hours away" "I saved and got my own place" all well and good, was that when the banks were throwing out money like confetti? Were you able to take advantage of the overshoot on the way down. Well guess what? many couldnt! Did you manage to pay back virtually no mortgage during the recession and get away with staying in "your" home?

It is a totally different story now, so unless you have bought recently with the current rules and havent had a hand out from the bank of mum and dad, spare me the laughable comparisons!

Eh no I didn't buy back then. Got no help from parents. Bought mid-last year after 3 years of saving hard. Wasn't living at home - renting a house and all the expense that came with that as well. Didn't move hours away either. Bank wasn't throwing money at me either - had to send a lot of paperwork and prove savings and effort and was saving right up to the last minute to afford the extras (like flooring) for the house. Was it tough - yes course it flippin was but hell I wanted a house so I had to put some flippin effort into getting it.

Cyrus

witchgirl26 wrote: »

Not sure about Cashel but when I was auditing fund accounting there was a massive operation in Wexford as I had to go down there a lot. Everyone there was on decent enough salaries (mid-recession) and well able to afford houses locally.

still there, also in kilkenny & drogheda

GreeBo

Yurt! wrote: »

There is fanny all appropriate and affordable one and two beds in the housing stock as well.

https://www.myhome.ie/residential/dublin/property-for-sale?maxprice=200000&maxbeds=2

216 = fanny all now?

Define appropriate other than "where I want to live in Dublin"?

uncommon_name

Save save save!!!!!! cut everything out that you can, it is the only way. Move in with parents for a few months if you can.
I bought my 1st house at 21, my partner was 23. Small bungalow that needed to be gutted and started all over again, great little project and had fun doing it.
Just bought my 2nd house at 24, new build 4 bed semi detached house.
I cut everything I could out for about 4 years and yes it was tough, but it was worth it
Plus be realistic on where you are looking to buy, i.e. Dublin and closely surrounding areas are out of the picture, don't be looking at detached houses because your 1st house is just a stepping stone to get to your 2nd one.

Yurt2

GreeBo wrote: »

https://www.myhome.ie/residential/dublin/property-for-sale?maxprice=200000&maxbeds=2

216 = fanny all now?

Define appropriate other than "where I want to live in Dublin"?

In the context of a capital city with circa one million residents, 200 odd is less than fanny all. Particularly when you're advocating single middle class earners (let's say 100'000 people in the cohort seeking to buy) to bid against each other for the limited resource. What do you think the numbers of evuivalent apartments for sale would be for Copenhagen or Lisbon?

Repeat after me: "the market is good, the market is great, I surrender my wages, as of this date."

witchgirl26

uncommon_name wrote: »

don't be looking at detached houses because your 1st house is just a stepping stone to get to your 2nd one.

Just on this - the mindset we went with was "would we be happy to stay here if we got stuck" as we saw siblings get stuck with negative equity. Defo still don't need to get a mansion but don't just think you can move up in 5 years as god knows where you'll be, the housing market will be or the economy will be in 5 years time. No guarantee.

GreeBo

Yurt! wrote: »

In the context of a capital city with circa one million residents, 200 odd is less than fanny all. Particularly when you're advocating single middle class earners (let's say 100'000 people in the cohort seeking to buy) to bid against each other for the limited resource. What do you think the numbers of evuivalent apartments for sale would be for Copenhagen or Lisbon?

Rightmove.co.uk:

Lisbon has 179 properties for sale with 2 or less beds for 200K.
I'm pretty sure the wages are a lot lower in Lisbon.

Copenhagen has 16.

https://www.numbeo.com/cost-of-living/city_price_rankings?itemId=100&region=150&displayCurrency=EUR

Yurt! wrote: »

Repeat after me: "the market is good, the market is great, I surrender my wages, as of this date."

Yeah, that'll probably fix it alright.
Or you could try saving like everyone else.

baby and crumble

Why are people moaning about people who want to live in Dublin, or Cork, or Galway? The simple fact is that a lot of people want to live where there are jobs, and infrastructure and things to do. I'm originally from outside Dublin but frankly I wouldn't want to settle down where I grew up even though I could have probably bought a nicer house down there for the same money we paid for our house in Finglas. Because there's f*ck all there. There's so little investment going into rural areas and small towns. They died a death during the recession when people HAD to leave to find a job, and many haven't recovered or are recovering slowly.

martingriff

Idbatterim wrote: »

this kind of post makes me laugh! Didnt varadkar himself say, "saving and getting a mortgage for a house were never easy" I dont doubt that, but it was a hell of a lot easier than now, probably a multiple!

All of these posts saying, "I moved hours away" "I saved and got my own place" all well and good, was that when the banks were throwing out money like confetti? Were you able to take advantage of the overshoot on the way down. Well guess what? many couldnt! Did you manage to pay back virtually no mortgage during the recession and get away with staying in "your" home?

It is a totally different story now, so unless you have bought recently with the current rules and havent had a hand out from the bank of mum and dad, spare me the laughable comparisons!

I am sorry but that sounds like poor me. Guess what as a person who will have a mortgage for 20+ years I can tell you it was tough for a lot of people in those time also. These people now have repayments I the thousands.it is not these people are living life of leisure now. I am sorry to burst your bubble but if you want something it takes sacrifices and that means not having the latest phone eating cheaper not going out or no holidays. This is the real world it is hard and tough and you have to work for it

GreeBo

baby and crumble wrote: »

Why are people moaning about people who want to live in Dublin, or Cork, or Galway? The simple fact is that a lot of people want to live where there are jobs, and infrastructure and things to do. I'm originally from outside Dublin but frankly I wouldn't want to settle down where I grew up even though I could have probably bought a nicer house down there for the same money we paid for our house in Finglas. Because there's f*ck all there. There's so little investment going into rural areas and small towns. They died a death during the recession when people HAD to leave to find a job, and many haven't recovered or are recovering slowly.

No one minds someone who wants to live in Dublin, its the "I'm entitled to live in Dublin even though I cant afford it and didnt even try to save for it" attitude that people have an issue with.

Then when you point out that they cant afford it, rather than that being their problem, its suddenly everyone elses problem and we should magic up a few nice houses in nice areas for 100K for them.

Feckin Margaret Cash would be embarrassed for these people.

upinsmoke

baby and crumble wrote: »

Why are people moaning about people who want to live in Dublin, or Cork, or Galway? The simple fact is that a lot of people want to live where there are jobs, and infrastructure and things to do. I'm originally from outside Dublin but frankly I wouldn't want to settle down where I grew up even though I could have probably bought a nicer house down there for the same money we paid for our house in Finglas. Because there's f*ck all there. There's so little investment going into rural areas and small towns. They died a death during the recession when people HAD to leave to find a job, and many haven't recovered or are recovering slowly.

Common myth, what does Dublin have over a county like Kilkenny has except congestion

Idbatterim

I am sorry but that sounds like poor me. Guess what as a person who will have a mortgage for 20+ years I can tell you it was tough for a lot of people in those time also. These people now have repayments I the thousands.it is not these people are living life of leisure now. I am sorry to burst your bubble but if you want something it takes sacrifices and that means not having the latest phone eating cheaper not going out or no holidays. This is the real world it is hard and tough and you have to work for it

Im now sitting in the family home, purchased for 16 thousand pounds in 1989, in Dublin 14. the property is over a hundred years old, needed total gutting, extension etc. You know what this property would cost now in the same condition as it was bought in? I would say E350,000! I know the interest rates were far higher then, but that was probably a years salary back then!

All of this "it takes sacrifice etc" yeah of course it does! But all of you seem to think, "ah ill just become a slave to debt, stop living for a few years" etc, thats grand, fire away. But dont expect all of us to think along the same lines!

You wouldnt question in the insane or very convenient planning policies in Dublin, that force people to move a hundred kilometers away? you dont question margarget cash and her ilk getting housed in central Dublin at great cost, while you work to pay for it and then commute back on some **** journey in your car at another great expense or on the third world transport system here?

Only in Ireland, seriously. This **** wouldnt be tolerated anywhere else!

f@steddie

Idbatterim wrote: »

But all of you seem to think, "ah ill just become a slave to debt, stop living for a few years" etc, thats grand, fire away. But dont expect all of us to think along the same lines!

Not this BS again. No one is suggesting becoming a 'slave to debt' or to 'stop living'. It doesn't have to come to that. You just have to be sensible and save for a few years.

Idbatterim

f@steddie wrote: »

Not this BS again. No one is suggesting becoming a 'slave to debt' or to 'stop living'. It doesn't have to come to that. You just have to be sensible and save for a few years.

and probably live somewhere relatively "crap"...

many of your mortgage brokers on here or bank chairmen per chance?

Yurt2

GreeBo wrote: »

Rightmove.co.uk:

Lisbon has 179 properties for sale with 2 or less beds for 200K.
I'm pretty sure the wages are a lot lower in Lisbon.

Copenhagen has 16.

https://www.numbeo.com/cost-of-living/city_price_rankings?itemId=100&region=150&displayCurrency=EUR



Yeah, that'll probably fix it alright.
Or you could try saving like everyone else.

Rightmove has 769 1-2 bed apartments in Lisbon for sale live right now. And that's just one site. Keep shuffling the goalposts until you seem right.

f@steddie

Yurt! wrote: »

Rightmove has 769 1-2 bed apartments in Lisbon for sale live right now. And that's just one site. Keep shuffling the goalposts until you seem right.

I thought you wanted an average 3 bed semi? Keep those goalposts moving.

baby and crumble

upinsmoke wrote: »

Common myth, what does Dublin have over a county like Kilkenny has except congestion

I'm not getting in to a tit-for-tat here, it's pointless.

My family home is in the countryside. Nearest town 5 miles away.

My dad still lives there.

I'm not approaching this from a 'hurr durr cities are great everyone outside Dublin is a culchie with a horse and cart' perspective.

There are no, to my knowledge, jobs in my sector in my home town. I would say there might be a handful in the county.

Everyone has their own priorities when it comes to deciding on a place to live and call home. I have friends who would despise living in a city or even a bigger town. All I'm saying is there's an attitude of "it's your fault" if you're someone who is trained and wants to work in a sector that is based in large urban centres, to live within an easy commute and who wants to utilise the urban environs rather than somewhat more rural environs to live their lives. Nobody is entitled to their dream house, obviously. I don't want to live where I live but we quickly realised we needed to reprioritize when we came to buy. But I don't demonise people who strive for that.