Monthly Salary not enough to rent

Bubbaclaus · 30-04-2018 9:46pm

N.96 wrote: »

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

125k would barely buy you a parking space in Dublin, never mind a property of any sort.

Samuel T. Cogley · 30-04-2018 9:52pm

Bubbaclaus wrote: »

125k would barely buy you a parking space in Dublin, never mind a property of any sort.

Buys you this 2 bed with an identity crisis of whether it's in Coolock or Clarehall.:pac:

Creative83 · 30-04-2018 9:55pm

Samuel T. Cogley wrote: »

Buys you this 2 bed with an identity crisis of whether it's in Coolock or Clarehall.:pac:

Strange because it seems to be in Darndale

Along with the Hilton "Dublin Airport"

N.96 · 30-04-2018 9:57pm

Bubbaclaus wrote: »

125k would barely buy you a parking space in Dublin, never mind a property of any sort.

I guess it depends how picky the OP is when it comes to location and whether they have any savings put aside

Pelvis · 30-04-2018 10:04pm

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

You're doing something very wrong. I'm on similar money, renting my own flat in D6 and still able to put away over 1k per month towards a deposit for my own place. And I still manage to spend obscene amounts on coffee and lunch daily

Cash_Q · 01-05-2018 7:39am

I'm surprised how many people don't see why op mentioned hating a bedroom in house share. Didn't any of you see the Prime Time episode where landlords had multiple bunk beds shoved into every room in the house? Ok not commonplace but becoming increasingly so.

Wesser · 01-05-2018 7:45am

Ok well then just get a house share without it being a room.share.
Plenty of those.

Avatar MIA · 01-05-2018 9:43am

Cash_Q wrote: »

Ok not commonplace but becoming increasingly so.

Just say, 'No thanks. I'll await my opportunity where just one person, namely myself, is allotted a single bed bedroom.'

Now, en-suite or not *breaks the internet*

irishman86 · 01-05-2018 7:35pm

Heres Johnny wrote: »

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

Mid thirties with some children, Clifden, Westport are lovely spots
I'd take Westport myself as ive lived in Clifden for a long spell
But i moved to Salthill in Galway and i 100% prefer it here, Im a country boy but prefer the city life and would have defo lived in the city at 22, its really not a hard choice

Moonbeam · 01-05-2018 7:43pm

Have a look at areas ike Balbriggan,far out but there is a decent train service.

mischascha · 01-05-2018 7:56pm

LucyIrish06 wrote: »

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!

that's how this system works, its a way of forcing an individual in its persuits to chose between their options which is - taking a mortgage, or to dream about taking a mortgage and feeling ok about it... so the big buisness can legaly operate. Shelter and privacy is a basic human need, and they are making a big investments out of it. you can try this guys option:

https://m.youtube.com/watch?v=Uq-2xzgHak4

Wheeliebin30 · 01-05-2018 8:00pm

mischascha wrote: »

that's how this system works, its a way of forcing an individual in its persuits to chose between their options which is - taking a mortgage, or to dream about taking a mortgage and feeling ok about it... so the big buisness can legaly operate. Shelter and privacy is a basic human need, and they are making a big investments out of it. you can try this guys option:https://m.youtube.com/watch?v=Uq-2xzgHak4

Do you mean every single human should live in a house on their own if they want cause it’s a human need????

Mrs OBumble · 01-05-2018 8:03pm

N.96 wrote: »

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.

The OP is earning approx 20k annually.

They cannot afford to service a mortgage, much less maintain a house.

OP - at 22 my advice is simple: get an apprenticeship or go to college - anything that will help you get a job with some prospects. Yes, it will be a pay cut for now (but security can be done part time while you study). But worth it in the long run.

Working in security you are guaranteeing yourself a life of poverty, and your only hope of your own place will be a council house, which takes a zillion years to get allocated if are a single male.

Wesser · 01-05-2018 10:00pm

Op is a female I'd say.... name Lucy

mischascha · 01-05-2018 10:15pm

Wheeliebin30 wrote: »

Do you mean every single human should live in a house on their own if they want cause it’s a human need????

me? No... That's one of crazy Gadaffi ideas! mental!:)

fraytag · 01-05-2018 11:29pm

man,
we are a couple in their 30s and are both professionals on good salaries..
we pay for our apartment 2k but it's really great standard

but even we have to share this apartment... there are 2 bedrooms and two bathrooms, almost brand new, so it's possible to share, have own room and private bathroom, you just need to pend more time on DAFT

Pelvis · 01-05-2018 11:48pm

fraytag wrote: »

man,
we are a couple in their 30s and are both professionals on good salaries..
we pay for our apartment 2k but it's really great standard

but even we have to share this apartment... there are 2 bedrooms and two bathrooms, almost brand new, so it's possible to share, have own room and private bathroom, you just need to pend more time on DAFT

If you're paying 2k a month then no, you don't have to share, you choose to share... bizarrely.

fraytag · 01-05-2018 11:54pm

Pelvis wrote: »

If you're paying 2k a month then no, you don't have to share, you choose to share... bizarrely.

True... absolutely!
But when you have a choice of having 12k more in the year or wasting 12k that makes a difference

zl1whqvjs75cdy · 02-05-2018 11:55am

fraytag wrote: »

True... absolutely!
But when you have a choice of having 12k more in the year or wasting 12k that makes a difference

Jesus must be some place for 4k a month! There's loads of nice places for 2k a month and you wouldn't have to share.

GreeBo · 02-05-2018 1:03pm

aw95y0viud36b2 wrote: »

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

Become a vegetarian...plants are cheaper than meat.
:rolleyes:

_brendand_ · 02-05-2018 3:28pm

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

Hmmm. More than 2.5 times is over 50k. That gives you at least 3k Euro a month. You can find a place for a grand if it's just you, no problem, *maybe* a bit more. Another grand for living and a grand for saving - you're in a good spot. I hope you're giving your parents a good chunk of money for staying with them at that age. Bit cheeky.

_brendand_ · 02-05-2018 3:31pm

fraytag wrote: »

man,
we are a couple in their 30s and are both professionals on good salaries..
we pay for our apartment 2k but it's really great standard

but even we have to share this apartment... there are 2 bedrooms and two bathrooms, almost brand new, so it's possible to share, have own room and private bathroom, you just need to pend more time on DAFT

So between the two parties you're paying 4 grand? Why are you letting yourself get ripped off like that. Even if you can afford it, would be money better spent elsewhere.

ispeakdatruth · 02-05-2018 4:13pm

_brendand_ wrote: »

I hope you're giving your parents a good chunk of money for staying with them at that age. Bit cheeky.

It absolutely is a bit cheeky.

Lot's of young lads/ladies that just don't want to stand on their own two feet these days.
Convincing themselves that it's better to live at home while they squirrel all their money away.

Pathetic really.

Anyway, in the OP's case, house share is the way to go (and a rethink about expectations).

_brendand_ · 02-05-2018 4:20pm

ispeakdatruth wrote: »

It absolutely is a bit cheeky.

Lot's of young lads/ladies that just don't want to stand on their own two feet these days.
Convincing themselves that it's better to live at home while they squirrel all their money away.

Pathetic really.

Anyway, in the OP's case, house share is the way to go (and a rethink about expectations).

I can just about understand it if you're on low wages/unemployed and you'd really struggle if you were paying market rent. If I was 29 on 50k (I'm older and earn more, but have a family to support) I'd like to think I'd have too much pride to stay with my parents.

02-05-2018 7:13pm

ispeakdatruth wrote: »

It absolutely is a bit cheeky.

Lot's of young lads/ladies that just don't want to stand on their own two feet these days.
Convincing themselves that it's better to live at home while they squirrel all their money away.

Pathetic really.

Anyway, in the OP's case, house share is the way to go (and a rethink about expectations).

Pathetic? Far far from it's the opposite, very very smart. People talk about how our parents could afford houses etc but this is exactly what they did: live at home until they got married.

If you have the opportunity to still live at home while working in a good job thus enabling you to save large amounts of money rather than burn it on rent then it is a very wise decision to do so. It's no coincidence that of my friends who own houses most of them lived at home until their late 20's and moved straight from home to their own house. Also the vast majority of parents are only delighted to have their children living at home and being able to help them save towards their own house etc.

Bubbaclaus · 02-05-2018 7:46pm

Jaylee Attractive Numerically wrote: »

Pathetic? Far far from it's the opposite, very very smart. People talk about how our parents could afford houses etc but this is exactly what they did: live at home until they got married.

If you have the opportunity to still live at home while working in a good job thus enabling you to save large amounts of money rather than burn it on rent then it is a very wise decision to do so. It's no coincidence that of my friends who own houses most of them lived at home until their late 20's and moved straight from home to their own house. Also the vast majority of parents are only delighted to have their children living at home and being able to help them save towards their own house etc.

Sure why don't they just live with them forever and get breastfed until they are 45 while they are at it.

02-05-2018 8:36pm

Bubbaclaus wrote: »

Sure why don't they just live with them forever and get breastfed until they are 45 while they are at it.

Leaving aside the silly comment on being breastfed in our patents generation it was also the common thing for one child to stay at home for good and take on the family home so while you joke about it there is nothing wrong or unusual about it.

messy tessy · 02-05-2018 8:40pm

Jaylee Attractive Numerically wrote: »

Also the vast majority of parents are only delighted to have their children living at home and being able to help them save towards their own house etc.

I honestly don't know why this is trotted out every time on these threads. I imagine the majority of parents would want their adult children to have some form of independence.

Pelvis · 02-05-2018 8:53pm

Only those that live at home with mam and dad would profess how "very very smart" it is to do so.

I don't care either way, there's a good case to be made for staying home at the moment because the rental market is such a mess that the best option is to get a mortgage sorted ASAP.

But. If you're at home earning over 50k and have no special circumstance that forces you into that position then tbh it's just a bit weird that you aren't wanting to get out, be independent, be a grown up!

Heres Johnny · 02-05-2018 8:59pm

If you're living at home with a definite plan and goal in mind it's fine. And if you're paying a few quid.

Staying at home indefinitely with no plan and not paying up is for wasters.

Not as black and white as some posters would have you believe.

Monthly Salary not enough to rent

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