Anyone 25+ live with their parents?

phonypony

https://www.boards.ie/discussion/comment/119182764#Comment_119182764

Correct. But even on a median salary of €36k, netting ~€2,500/month, rent/food/transport/heating leaves very little (if anything) for any savings in much of the country. And this is without what many would see as essential additional spending like health insurance and pension contribution.

Your scenario of moving out, renting and saving enough of a deposit for a house in South County Dublin currently applies to a very narrow and privileged group.

HerrKuehn

https://www.boards.ie/discussion/comment/119182918#Comment_119182918

He is a Psychologist who has studied adolescence as his specialty and came up with the idea of the extended adolescence that we see today. I think you might be being a bit harsh on the girl, she was from a different culture where living at home in your 20's was seen differently. I can say at the time, around 2002, a lot of my friends from growing up (average working class area) were quite happy living at home indefinitely as "rent is dead money" apparently. The people I met through college and work were all a lot more independent at that age though. It seems over time it has become more acceptable here. I don't regard moving back for a bit while you get renovation works done is the same thing at all.

Also, I am really just looking at it from the parents point of view as it seems all the views here are what is best for the child. While most parents will allow their kids to stay living in the family home into their 30's, I would say very few would regard it as desirable or ideal (obviously not those needing care etc). So, for those who prefer to live at home instead of "paying someone else's mortgage", do you think of the impact it has on your parents life?

o1s1n

https://www.boards.ie/discussion/comment/119182937#Comment_119182937

How much is your average house share room at the moment? about 800?

2,500 minus 800 on rent leaves 1,700 to live on and save. If you were a frugal single person / couple with no children and both earners you could save a decent amount on that.

Not saying that person could afford a home in South Co.Dublin by the way, you'd need a much higher salary than that to do so, but there's definitely room on that salary to save.

phonypony

https://www.boards.ie/discussion/comment/119184347#Comment_119184347

Definitely room to save, but not much. If you assume that single person sharing at €800/month, needing a car (and all the added expense that entails), maybe €10k a year in frugality for bills/groceries/transport/unforeseen expenses, that leaves about €10k a year max for savings (assuming no pension, health insurance or holidays).

Add that to your €126k maximum mortgage and you'll be saving at least 10-12 years to afford an apartment in Meath/Kildare at today's prices.

Let's be honest; it's grim.

HerrKuehn

https://www.boards.ie/discussion/comment/119184474#Comment_119184474

You could do without a car and yes, it might involve saving for 10 years.

Trigger Happy

I moved out of the family home at 17 and never looked back.

But my son who is now 11 will not have the same luxury. I dont know if he will be still be living with us at 25 but it might not be far off it.

o1s1n

https://www.boards.ie/discussion/comment/119184474#Comment_119184474

I think it's safe to say the days of single earners applying for mortgages are well and truly over unfortunately!

If you take that 36,000 as two graduates together in a couple, so 72,000 total, you're now looking at a 252,000 mortgage potentially.

4 years saving 500 a month from that 1,700 left over after rent (especially if they're only spending 400 each on the room in the house share if they're splitting it) and they'd have almost 50k saved between them.

Would then be hitting in and around 300k with the mortgage included.

If they wanted they could do the above for 2 years rather than 4 and have about 275k.

Still not South County Dublin stuff but it really does show you the power of a joint mortgage application in so far as options available thereafter.

Does make me wonder if you'll start seeing more and more platonic friends going in on houses together to buy.

Ubbquittious

https://www.boards.ie/discussion/comment/119184642#Comment_119184642

Wouldnt be bad if platonic friends started doing that. Probably have more success than a lot of marriages

fatbhoy

https://www.boards.ie/discussion/comment/119172225#Comment_119172225

That house has Pyrite.

THIS PROPERTY HAS CONFIRMED PYRITE, REMEDATION WORKS INCOMPLETE

THIS PROPERTY IS NOT SUITABLE FOR PARTIES OBTAINING FINANCE/MORTGAGE

Princess Calla

https://www.boards.ie/discussion/comment/119184642#Comment_119184642

In the height of the Celtic tiger some of my friends bought together or siblings bought together. Single mid 20's foot on the property ladder investment had increased before they even got the keys and kept on rising etc (and by god was that the subject every single weekend ).

All good, slowly they started getting serious with boyfriends/girlfriends started thinking they'd rather be living with them than their platonic friend/sibling.

Crash happened, house now in negative equity, the 100% mortgage wasn't as good an investment as they thought etc

I'd think long and hard before going down that route. Eventually one of you will want to move on. It can end up getting very messy.

Sugar_Rush

https://www.boards.ie/discussion/comment/119184944#Comment_119184944

How did you do that indentation for the capital letter sentences??

How did you do that indentation for the capital letter sentences??

Chris_5339762

Yes.

Moved out at age 25 (approx), lived in Galway and Dublin for a few years.

Moved back down a few years ago intending to buy elsewhere... so moved in with the parents temporarily. Then Covid hit, then my mum got sick, now I'm barrelling towards being a full time carer. Just bear that in mind if you are living with elderly parents.

Its has its benefits at 38, it has its disadvantages, but it is is possible. Forget about ever meeting someone though! No modern woman wants that sort of baggage.

fatbhoy

https://www.boards.ie/discussion/comment/119189842#Comment_119189842

I'm not telling you.