Can you afford a home?

Buddy Bubs

crooked cockney villain wrote: »

A 3 bed semi in fairly stable parts of West Dublin (better parts of Blanch, Tallaght, Clondalkin)

In saying that, 210 to 260 was the price for these type of homes pre Covid, the pent up demand has pushed it upwards.

Hopefully only temporary, who knows.

Not a hope for 240k. 130 3 bed properties in Dublin asking between 225 and 275k but you can guarantee they are selling way above asking.

Fils

Fils wrote: »

Social housing is everywhere, I mean everywhere.

I know!

Yet I've seen threads where potential buyers reject perfectly decent reasonably priced estates outright because of social housing nearby.

Manic Moran

Have two, one I bought at 39 on my own, one with the wife at 43 (I'm 46). I'm not going to say I'm 'house-poor', as I can still spend money on 'things', and go on trips and so on, but I'm basically working three jobs to cover the bills. The one I have rented out is actually a cash-losing enterprise (Between repairs, mortgage, etc, the rent doesn't cover the cash outlay), but it is a net-worth-positive. The desired end-state is that shortly after I retire, I'll have income from the one, and won't have to pay rent/mortgage on the other.

It's no small amount of saving involved, though, prior to the purchase. You can't just wake up one day and say "I think I'll buy a house next year". Next decade is more like it.

SnuggyBear

[Deleted User] wrote: »

I know!

Yet I've seen threads where potential buyers reject perfectly decent reasonably priced estates outright because of social housing nearby.

Half the houses in the estate could be rented to scumbags anyway

pgj2015

RacoonQueen wrote: »

I've a cousin going through this now. It is hell for him.

I think they split up about 18 months ago and he can't get the dozy cow out of the house. He has even given her an extra 7k or something and she still won't sign the paperwork and get out.

His stupid sister now wants to buy a house with some lad she's only known a few months.

my rule is I will live in my house and you will live in yours. if we break up, its a clean break.

Fils

Deleted User wrote: »

I know!

Yet I've seen threads where potential buyers reject perfectly decent reasonably priced estates outright because of social housing nearby.

I wouldn’t blame them. Social housing is the posh phrase for council house. Sadly 98% of council house dwellers are people who would be a nightmare to be neighbours with.

mcmoustache

Padre_Pio wrote: »

Hey!

Wanna buy a house?

Just get married to someone with a good job! It's easy!!

Lol.

Not saying it's right. It's just that Johnny the web developer is going to have a tough time outbidding Tom the DBA and Mary the head of QA. I was being a bit flippant the forum that we're in.

Padre_Pio

bubblypop wrote: »

I would buy a two bed house.
Not everyone has or wants kids you know

Even the two beds are small for a couple.

Tony EH

RacoonQueen wrote: »

His stupid sister now wants to buy a house with some lad she's only known a few months.

What age is she?

Is she at the age where she's looking to set up shop, quirt out a kid or two and play happy families with the first schlub that comes along?

Maybe you should have a word with her.

crooked cockney villain

Buddy Bubs wrote: »

Not a hope for 240k. 130 3 bed properties in Dublin asking between 225 and 275k but you can guarantee they are selling way above asking.

Maybe now, a year ago this was the standard price in most of Dublin.

It was always very funny reading articles with teachers and other graduates (couples) crying that they can't afford a house in Dublin so they're stuck living in Navan.

What they meant was they couldn't afford a house in the type of upper tier middle class areas their colleagues bought in the 90s/ 2000s (Castleknock, Raheny, Glasnevin level areas)

God forbid these people would move to Clonsillla and end up living next door to a bus driver or a plumber. The horror of it.

crooked cockney villain

bubblypop wrote: »

I would buy a two bed house.
Not everyone has or wants kids you know

I would wager upwards of 90& of couples do, tbh. Now, many would have a passing interest while others an obsession, but I'd put 90% in the probably ballpark.

SnuggyBear

SnuggyBear wrote: »

Half the houses in the estate could be rented to scumbags anyway

You could buy in a perfectly lovely private estate, and half the houses could be rented to scumbags.

Fils

Fils wrote: »

I wouldn’t blame them. Social housing is the posh phrase for council house. Sadly 98% of council house dwellers are people who would be a nightmare to be neighbours with.

I would say you're a nightmare to be neighbors with!

SunnySundays

I'm in my late 30s. Probably could have a house by now but I wanted to live to. I enjoyed my 20s and travelled a lot, still did up until Covid. I also got sick of house sharing but have a good deal considering living along.

I can afford a house now but it will require compromise, moving out of Dublin or an apartment instead of a house.

I have decided to wait to until things return to normal and then decide. Think I would be happy enough outside of Dublin at the moment but not when I'm back working in the office, social life back etc. Just going to keep saving and do it in my own time.

No avocado toast, 9 year old car etc.

Tony EH

bubblypop wrote: »

I would say you're a nightmare to be neighbors with!

Not good with percentages either. :pac:

Fils

Padre_Pio wrote: »

Even the two beds are small for a couple.

Too much stuff. A lot of women have over 100 bras, slim it to 3. More space already.

crooked cockney villain

crooked cockney villain wrote: »

I would wager upwards of 90& of couples do, tbh. Now, many would have a passing interest while others an obsession, but I'd put 90% in the probably ballpark.

Still leaves plenty of people who would like to live in a 2 bed house

SATSUMA

Like yourself late 30's, single, always worked, good education. The answer is no. Wanna get married?

mcmoustache

Padre_Pio wrote: »

What's the job market like in the Midlands if you lose your job?

Like everything else in the midlands. Depressing. There are motorways out of it though, so it's not all bad.

Fils

bubblypop wrote: »

I would say you're a nightmare to be neighbors with!

I don’t live in a council estate.

mcmoustache

SATSUMA wrote: »

Like yourself late 30's, single, always worked, good education. The answer is no. Wanna get married?

Sorry. Taken. Another time perhaps.

crooked cockney villain

Deleted User wrote: »

You could buy in a perfectly lovely private estate, and half the houses could be rented to scumbags.

I really can't fathom the type of idiot who drops 400k on one of those new build monstrosities springing up all over West Dublin/ Fingal.

Not only are they pig ugly, but with housing policies these days you can well find 15% of the estate sold to the council by default, with plenty of the remainder either sold to vulture funds who will rent to HAP, or other large swathes of the estate bulk bought by councils/ AHB's.

Anybody prepared to pay 400k to live potentially surrounded by wasters paying 40 a week for the same house needs their head checked. As a point of principle I'd never seek to pay more than 250K for a house.

Padre_Pio

bubblypop wrote: »

Still leaves plenty of people who would like to live in a 2 bed house

Not when builders are trying to maximise profit per acre.

alias no.9

The Mighty Quinn wrote: »

Just thinking, haven't heard the term "accidental landlord" in a long time.
Whoops I bought a house I need to rent out now, I'm a landlord!

Surely anybody who had been in this situation is well out of it now?

Anyone caught by the last crash still operating as a landlord has made a conscious decision to continue and can no longer claim to be an accidental landlord. We're more than a decade past the worst period of that crash, while many will never recover the purchase price, negative equity should be a dim and distant memory after a decade of mortgage repayments.
For full disclosure, we bought a 2 bed apartment in 2006 (booking deposit paid in 2005 so priced a little short of peak madness) but we were fortunate enough to get over the line with a second mortgage in 2013 after about 18 months of questioning every cent that was spent.
There is no way we could buy the same house now and keep the apartment despite significantly higher salaries and the benefit of a decent redundancy a few years back with a new job lined up before finishing the one I was made redundant from.
The current market is crazy but we know from history that anything that boosts affordability for buyers, gets immediately swallowed up by sellers, for example help to buy scheme, 100‰ mortgages and the 0% Stamp Duty for FTBs. I don't have the answers but I can recognise the problems.

Tony EH

Fils wrote: »

I wouldn’t blame them. Social housing is the posh phrase for council house. Sadly 98% of council house dwellers are people who would be a nightmare to be neighbours with.

crooked cockney villain wrote: »

I really can't fathom the type of idiot who drops 400k on one of those new build monstrosities springing up all over West Dublin/ Fingal.

Not only are they pig ugly, but with housing policies these days you can well find 15% of the estate sold to the council by default, with plenty of the remainder either sold to vulture funds who will rent to HAP, or other large swathes of the estate bulk bought by councils/ AHB's.

Anybody prepared to pay 400k to live potentially surrounded by wasters paying 40 a week for the same house needs their head checked. As a point of principle I'd never seek to pay more than 250K for a house.

The pair you charmers should pool your resources and get a house together.

Stihl waters

Padre_Pio wrote: »

What's the job market like in the Midlands if you lose your job?

With a lot of people wfh, shouldn't people start looking at options which doesn't include living within a 20 minute cycle of the city centre

El Gato De Negocios

RacoonQueen wrote: »

You also, I'm guessing, will have a far lower mortgage on the house you are building than you'd have had on anything you would have been buying in Dublin so you could likely get a job even in different industry on lower wage and still survive.

Mortgage will be hefty enough as the house we are building is approx 2700 sq but still significantly lower than if we were to buy at the top of our "budget" for buying in Dublin. We could build much smaller and have a lower mortgage but we figured if we are making the move then we would build something we would never in a million years be able to afford to buy in Dublin.

Tony EH

Stihl waters wrote: »

With a lot of people wfh, shouldn't people start looking at options which doesn't include living within a 20 minute cycle of the city centre

Working from home won't last.

crooked cockney villain

crooked cockney villain wrote: »

Why would anybody buy a 2 bed home? If you happen to have a boy and girl you're either moving on or doing an attic conversion within 10 years (or even two boys once they start killing each other)

Really baffles me. There weren't even any two beds built from circa the 60's to just a few years ago.

I bought a two bed, built in 1985 as it happens. I only had one child and knew I wouldn't have anymore. 2 beds also suit single people or downsizers.

If I wanted to sell it in the morning it would be snapped up due to downsizers.

Or the council would take it off my hands.

crooked cockney villain

SunnySundays wrote: »

No avocado toast, 9 year old car etc.

The outrage over the avocado toast says it all really.

Plenty of people will spend 5 euro on a Spar chicken fillet roll, 3 euro on a coffee.

2 grand a year.

From the age of 18 to around 34 when they start seriously looking at housing.

32 grand. On lunch.

People really don't realise that the savings quickly add up if they get the nightlink over a taxi, Wetherspoons over anywhere else, cheapest beer in other pubs over your traditional one, can of Tuborg over your regular brand, etc etc etc.

In saying that I've come across plenty of people (mainly graduates originally from the country) who have bought while they and their partner were on very modest salaries.

Reason? Students tend to be tight as a nun. So many of them never grow out of it.

Unfortunately it shows by way of their appalling dress sense.