Monthly Salary not enough to rent

LucyIrish06 · 30-04-2018 2:56pm #1

Hey Folks,
Was hoping you could help me out as I’m in a bit of a rut.
I’ve just had a look on daft.ie and seen rentals going for 1200+, and some of the places I genuinely wouldn’t let my dog live in it (really don’t know how landlords are getting away with renting these places).
I barely make 1500 a month (after tax), I would love my own place as I’ve been living at home and would like to have somewhere I can call my own and have somewhere to relax after a hectic day at work (I’m 22 and work in security).
These rentals would literally leave me with scrapings to survive on, even saving for a mortgage is way out of the question.
I wouldn’t feel comfortable “house sharing” as most of them consists of a single bed in a room that already has two other beds, it’s just not for me.
I’m not eligible for rent allowance as I work full time and I genuinely don’t know what to do and I don’t really fancy living at home until I’m in my 30s.

Would anyone have any advice or tips ? Anything will be greatly appreciated!

Cuddlesworth · 30-04-2018 3:00pm

You share a house with other people.

dubrov · 30-04-2018 3:00pm

1500 a month just isn't enough to afford rent on your own in Dublin without state help.

You need to try to upskill and get a better job or check if rent allowance will be sufficient

AlmightyCushion · 30-04-2018 3:03pm

In most house shares you would have your own room. Sure some have a few beds in each room but just ignore them.

Topgear on Dave · 30-04-2018 3:04pm

House sharing is how its done..... Did it myself for about 15 years.

ionapaul · 30-04-2018 3:04pm

Everybody shares when starting out - at least everyone did in Generation X and I would expect it is the same for the current crop of 20-somethings? Your own place is a nice-to-have rather than a must-have for your first decade or so; I never had my own place until my then-girlfriend (now wife) moved in together in my mid-30s and even then there were two of us to split the rent.

mel123 · 30-04-2018 3:06pm

Like minded people in a house share (as others have said, get your own room) and you will really enjoy it more than likely

heretothere · 30-04-2018 3:08pm

Afraid you will either need to house share or stay living at home. Personally if you don't mind living with your parents I would stay at home and start saving up a nest egg. 'Living with the parents' sounds naff until you tell someone you've saved €20k towards your house deposit! When I lived in Dublin the huge rent always just seemed like such a waste of money

CiniO · 30-04-2018 3:21pm

As others have said.
Making 1500 a month you can't afford a 1200+ house.

Either do house share, stay with your parents, look for cheaper house somewhere else (f.e. 500 p.m.) or get a better paid job.
I can't think of any other solution.

CiniO · 30-04-2018 3:25pm

LucyIrish06 wrote: »

I’ve just had a look on daft.ie and seen rentals going for 1200+, and some of the places I genuinely wouldn’t let my dog live in it (really don’t know how landlords are getting away with renting these places).
!

Simple rule of open market - supply Vs demand.

Now there's more demand than supply so even poor quality places go for big money.
Couple years back it was opposite (more supply than demand), and you could get a nice house for less than 300 in some parts of the country.

TheBoyFromAus · 30-04-2018 3:28pm

I dont know many people that would have been able to afford living in their own place at 22

Moonbeam · 30-04-2018 3:36pm

your wages are very low and Dublin is very expensive.
Your choices are to job hunt,leave Dublin or live in a house share.
Most people in DUblin live in house shares in their early 20's.

Bubbaclaus · 30-04-2018 3:36pm

You're being completely unrealistic expecting to live on your own in Dublin at 22 on that salary. House share means sharing the house and having your own bedroom, it doesn't mean sharing a bedroom.

one armed dwarf · 30-04-2018 3:51pm

Yep, house share is what people do.

28 here and living with 6 others in London, lol...

Heres Johnny · 30-04-2018 4:01pm

Did you say you are in Dublin? I cant see that anywhere but ill assume you are given the amounts quoted, definitely an urban city area anyway.

Sharing is the only way. And 1500 a month will still be tight if you want a car and a bit of spending money. Maybe you don't want a car though. In which case you'll be fine.

Sharing will cost about 500 a month plus bills. It's the only way to move out of home.

And I suggest you upskill and get qualified in something better paid as you seem to have goals and plans. You won't realise these goals on a 20k per year salary.

Samuel T. Cogley · 30-04-2018 5:24pm

I'd say you'd struggle even at 500 these days. Best bet is stay at home if you can.

ouxbbkqtswdfaw · 30-04-2018 6:11pm

Leave Dublin and get a job in the country. Rents much less. Better quality of life.

Bubbaclaus · 30-04-2018 7:37pm

aw95y0viud36b2 wrote: »

Leave Dublin and get a job in the country. Rents much less. Better quality of life.

Pure baloney

Cash_Q · 30-04-2018 7:41pm

If I were you I'd stay at home and save really really hard for a few years and buy with a mortgage. Renting is dead money - I know, I spent over 80,000 renting over the years. You'll eventually need to move back in with family to save for a mortgage anyway if you remain on that wage (which is not too shabby at 22 by the way). If you set up a direct debit for 1000 per month you'll have a deposit saved in a few years and will be able to live independently and own your own property. I know 1000 per month is a lot to save, but what are you spending money on anyway? If it's gone before you can touch it you'll easily get by on 500 per month disposable income.

Wheeliebin30 · 30-04-2018 7:43pm

Sure the homeless groups now class this fella as homeless.

Living at home with parents is now homeless.

Utter nonsense.

fallen01angel · 30-04-2018 7:52pm

Hi Op, you've only got 2 realistic options I'm afraid :
A) House share.
or

Continue to live at home.

My own experience : I lived at home till I was a lot older than you,yes it can be a pain remaining at home with parents/siblings but I bought my own house which I got by saving all the money I would have had to use for rent (obviously I contributed €€€€ at home!!) Renting and saving for a mortgage is near impossible to on a single salary. And if you do decide to stay at home I would strongly advise you to set up a weekly/monthly direct debit (depending how you're paid) into a separate account with as much as you can afford .......it'll really stand to you if you decide to go for a mortgage at a later stage!!!

irishman86 · 30-04-2018 8:02pm

Bubbaclaus wrote: »

Pure baloney

From the west of Ireland and i cant help but wonder where people came up with that notion. Life is rarely better for a 22 year old in the country. Perhaps a 60 year old who wants to slow down

bucketybuck · 30-04-2018 8:10pm

LucyIrish06 wrote: »

I wouldn’t feel comfortable “house sharing” as most of them consists of a single bed in a room that already has two other beds, it’s just not for me.

You have a very warped view of house sharing, its not ideal for older people but the vast majority of house shares are nothing like a "single bed in a room that already has two other beds", and are perfectly acceptable for a kid starting out.

Stop being such a snowflake. Its a pointless thread anyway, your options are very simple and it won't take long to figure them out.

Avatar MIA · 30-04-2018 8:21pm

I spent a couple of years working away from home and I house shared during the week. You'll get a far better quality of home sharing than renting alone. You'll be able to get a room of your own.

Okay, not as private, but needs must.

_brendand_ · 30-04-2018 8:35pm

Sadly having your own place at 22 isn't really realistic. All I can say is put yourself on a career path to making more money and eventually some day you'll be able to afford it - in the meantime you need to share, if not with a friend or partner, then with people in a similar situation to yourself. This is the only realistic option.

Ursus Horribilis · 30-04-2018 9:11pm

I house shared back in the day and it was a mostly positive experience. I even made a couple of good friends from it. I don't know where you get the idea that you'd have to share your room too. Is that a throwback to student accommodation days?

Creative83 · 30-04-2018 9:25pm

From your monthly wage after tax I reckon you are on €20,000 or a bit less. Unfortunately you would need to earn twice that to have any hopes of affording a place to yourself... and I don't just mean in Dublin. Unfortunately you will have to share. I know, it's a ****ty deal but I reckon the majority in this forum have been through it, myself included. Wish you the best of luck anyway and remember it will hopefully only be temporary as you start your career.

Evd-Burner · 30-04-2018 9:35pm

Creative83 wrote: »

From your monthly wage after tax I reckon you are on €20,000 or a bit less. Unfortunately you would need to earn twice that to have any hopes of affording a place to yourself... and I don't just mean in Dublin. Unfortunately you will have to share. I know, it's a ****ty deal but I reckon the majority in this forum have been through it, myself included. Wish you the best of luck anyway and remember it will hopefully only be temporary as you start your career.

I'm on more than 2.5 times that and I can't afford to rent on my own. Almost 29 and still with the parents, it's not ideal but I've no other choice. Saving as much as I can and I still can't afford to buy

Heres Johnny · 30-04-2018 9:36pm

irishman86 wrote: »

Bubbaclaus wrote: »

Pure baloney

From the west of Ireland and i cant help but wonder where people came up with that notion. Life is rarely better for a 22 year old in the country. Perhaps a 60 year old who wants to slow down

Young lads should get to experience living in a city definitely. I'm mid 30s now and sometimes I'd just love to live in the West and open a B and B. One of the nice towns though, clifden or Westport or strandhill or something

Creative83 · 30-04-2018 9:41pm

Evd-Burner wrote: »

I'm on more than 2.5 times that and I can't afford to rent on my own. Almost 29 and still with the parents, it's not ideal but I've no other choice. Saving as much as I can and I still can't afford to buy

Where are you looking and what do you want... on €40,000 a year you could easily get a nice 1 or 2 bed apartment outside of Dublin for between €1,000 & €1,400... granted you won't be saving very much on the latter but at least you have a place to yourself.

N.96 · 30-04-2018 9:44pm

Rental prices are ridiculous at the moment, it might be worth your while having a look at the 'Rebuilding Ireland Home Loan' if you were considering a mortgage... The interest rates are so low (around 2% over 25 - 30 years) that they're practically giving away money.

Requirements:
First time buyer (house can be new or old)
In continuous employment for the last 2 years
Refused for a mortgage twice (you can just go apply to two banks and they'll turn you down... free of charge)

There's a calculator on the website and based on the info you've given and assuming you're based in Dublin it seems you could borrow up to 125,000 or there abouts!

http://rebuildingirelandhomeloan.ie

Monthly Salary not enough to rent

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