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Do you own property?

Winning_Stroke

Wondering what kind of mix we have here. I bought my first house last year (with my wife) but bloody hell I can't help but feel that me ten years ago, starting a grad job, should have been smarter with money and picked up a nice cheap place to have flogged in the mean time. The rent I paid in those years would easily have got me a nice leg up in life. Oh well.

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Woshy

We sold our house recently and we're looking to buy another. Finding there's not much on the market atm though (well where we are looking and what we are looking for).

Pherekydes

House paid for four years ago. £71,500. Probably worth more now. Probably.

Jim Root

I'm not sure - my wife owns our family home outright, no debt/mortgage - does that make me an owner?!

Salary Negotiator

Bought with a mortgage just before my 35th birthday, probably could have bought sooner but I spent 1 deposit travelling and another going back to college when I was 30 to help with a career change.

Glad to not be renting anymore.

jimgoose

Jim Root wrote: »

I'm not sure - my wife owns our family home outright, no debt/mortgage - does that make me an owner?!

Did she own it when you married her? If not, then maybe!

jimgoose

FTA69 wrote: »

...Owning your own gaff is great and congrats to whoever does it but it’s certainly not a guaranteed route to happiness I learned that the hard way.

One should endeavour to not get into any sort of co-ownership setup with a crazy person or persons.

FTA69

jimgoose wrote: »

One should endeavour to not get into any sort of co-ownership setup with a crazy person or persons.

Unfortunately many people end up sticking with unhappy relationships that start off great and then go sour over time; if kids are involved it then becomes very difficult to extricate yourself

Jim Root

jimgoose wrote: »

Did she own it when you married her? If not, then maybe!

Nope; she inherited it from a family member after we were married. We moved into it then together. Guess I'm a lucky man?

jimgoose

Jim Root wrote: »

Nope; she inherited it from a family member after we were married. We moved into it then together. Guess I'm a lucky man?

You sure are.

Better Than Christ

AH Election Poll results suddenly make sense. A vote for Fine Gael is probably the best chance of keeping house prices up and (for the benefit of those of you who own more than one 'property') preventing rent prices from dropping to a humane and sensible level. The term "I'm alright, Jack" springs to mind.

I'm renting at the moment. I could have bought outright a few years ago, but the location (in terms of proximity to Dublin and also the general area itself) wasn't great. A bit of a mistake though, as it would be worth at least €40,000 more now. Anyhow, I won't be buying anything until the next crash. Hopefully I'll have enough saved not to require a significant mortgage. And that's why I'll be voting for Fianna Fail.

Antares35

Ellison Rough Padding wrote: »

That seems odd. I can't imagine a court ordering someone to give his ex-wife 80% of his take-home pay.

This is Ireland! It wasn't court ordered however the solicitor he saw pretty much told him it wouldn't be lowered all that much. She had a few illnesses that "prevented" her from working (didn't stop the cash in hand jobs mind) and one of the kid has ADD so I think solicitor was probably right. Right or wrong, I hightailed out of there at quick speed, knowing any children we had would have pretty much zero future.

In terms of house ownership/ mortgages etc. I only recently realised that having dependants seriously reduces the reckonable income for purposes of borrowing multiples too.

Winning_Stroke

Antares35 wrote: »

didn't stop the cash in hand jobs

:eek:

nkl12xtw5goz70

Antares35 wrote: »

This is Ireland! It wasn't court ordered however the solicitor he saw pretty much told him it wouldn't be lowered all that much.

I'm no legal expert, but if a solicitor advised your friend to pay his ex €3,200 a month out of €4,000 in take-home earnings, leaving him €9,600 a year to support himself, then he needs a new solicitor. Based on what I know about Irish family law, that is completely out of whack with the norm.

dotsman

Jim Root wrote: »

Nope; she inherited it from a family member after we were married. We moved into it then together. Guess I'm a lucky man?

jimgoose wrote: »

You sure are.

Afraid not exactly. If the genders were reversed, then yes, you definitely would be an owner in all senses of the word. Right now, you are technically an owner, but in the case of a divorce, where 95% of divorces are about transferring every bean from the man to the woman, I find it hard to believe a judge would do the opposite and give you some of the wife's wealth. Especially if there are children involved. When that happens, the wife gets everything and the man must suffer a life of destitution.

Welcome to Feminist Ireland!

dotsman

Better Than Christ wrote: »

AH Election Poll results suddenly make sense. A vote for Fine Gael is probably the best chance of keeping house prices up and (for the benefit of those of you who own more than one 'property') preventing rent prices from dropping to a humane and sensible level. The term "I'm alright, Jack" springs to mind.

I'm renting at the moment. I could have bought outright a few years ago, but the location (in terms of proximity to Dublin and also the general area itself) wasn't great. A bit of a mistake though, as it would be worth at least €40,000 more now. Anyhow, I won't be buying anything until the next crash. Hopefully I'll have enough saved not to require a significant mortgage. And that's why I'll be voting for Fianna Fail.

So much wrong here, I don't know where to start.

Cienciano

I'm in my 40's and have a deposits saved from inheritances to my wife over the years. It's crazy how hard it is now, I think for a lot of young people they don't even bother trying.
Back when my parents bought a house in the early 70's it was a 20 year mortgage, one wage household, no college education just a job from leaving school at 16. And that was a nice 3 bedroom semi in a good area of Dublin where you could walk to the city centre. That avocado toast must be good

Better Than Christ

dotsman wrote: »

So much wrong here, I don't know where to start.

I'll never learn unless I'm taught.

I'm listening reading...

eviltwin

I bought a house 16 years ago. I was 25 and everyone thought I was mad and should be partying, travelling but I had a young child and we were desperate for our own place. It was also a point of pride, I had been a teen parent and sofa surfing for a while and some people told me I'd never do it. We will pay our final mortgage payment in November touch wood.

blastman

Does an acre of the moon count?

banie01

Yep, I own our family home outright(Well since marriage "we" do) and rather than sell her house we have rented it out.
So 2 homes, sounds sweet but the rental property whilst washing its face is a PITA with regards admin and costs.
Lovely tenants though, so we are lucky in that regard.

Purchased back in 2005, and luckily mortgage free now on family home with @12yrs left on the 2nd property.

Cina

Yep, bought an apartment myself 3 1/2 years ago when I was still single, was the most I could get in Dublin with my savings and wages. People told me I was mad and to wait til I could get a house, but I'm so glad I did.

My mortgage is only slightly more than I was paying in rent at the time and I'm not sharing with anyone and it's a far nicer place than anywhere I've ever rented. Right after I moved in I met my current partner and she moved in after about a year and pay towards the mortgage too. Could never have done that if I was still renting with someone. Now we have a nice big 2 bed to ourselves, can have people over staying when we want, and pay a fraction of what we would if we had to rent a sh*tty 1 bed together.

Some day we might want to get a house but honestly the apartment is great and anyone who is put off by the idea of owning an apartment shouldn't be, I can assure you it's exponentially better than renting. Plus the place is already worth about 50k more than when I bought it so if I ever do want a house it'll help me pay for it far better than saving and renting would have.

ceadaoin.

Yes. We bought a house a couple of years ago, no mortgage. I was shocked to discover that even with no mortgage, the house can still be foreclosed and sold out from under us if we dont pay our HOA fees (US). If we buy here again we'll be avoiding those

Raconteuse

Cina wrote: »

Yep, bought an apartment myself 3 1/2 years ago when I was still single, was the most I could get in Dublin with my savings and wages. People told me I was mad and to wait til I could get a house, but I'm so glad I did.

My mortgage is only slightly more than I was paying in rent at the time and I'm not sharing with anyone and it's a far nicer place than anywhere I've ever rented. Right after I moved in I met my current partner and she moved in after about a year and pay towards the mortgage too. Could never have done that if I was still renting with someone. Now we have a nice big 2 bed to ourselves, can have people over staying when we want, and pay a fraction of what we would if we had to rent a sh*tty 1 bed together.

Some day we might want to get a house but honestly the apartment is great and anyone who is put off by the idea of owning an apartment shouldn't be, I can assure you it's exponentially better than renting. Plus the place is already worth about 50k more than when I bought it so if I ever do want a house it'll help me pay for it far better than saving and renting would have.

Yeah I don't get the anti apartment thing for just a couple or two friends or a person on their own. Noisy neighbours I suppose - but you could get that anywhere built up.

It's easier as a starter too.

What would be the point in a single person's first property purchase being a house? Unless it's a small two-bedroom I guess. Not easy to come by though.

Arghus

Owning my own home is basically science fiction stuff at the moment for me. I'd love an apartment, I'd prefer it over a house, but fck it, forget it...

Jim Root

dotsman wrote: »

Afraid not exactly. If the genders were reversed, then yes, you definitely would be an owner in all senses of the word. Right now, you are technically an owner, but in the case of a divorce, where 95% of divorces are about transferring every bean from the man to the woman, I find it hard to believe a judge would do the opposite and give you some of the wife's wealth. Especially if there are children involved. When that happens, the wife gets everything and the man must suffer a life of destitution.

Welcome to Feminist Ireland!

surely a judge would have to ensure some sort of "proper provision" for the male spouse?

lozenges

dotsman wrote: »

Afraid not exactly. If the genders were reversed, then yes, you definitely would be an owner in all senses of the word. Right now, you are technically an owner, but in the case of a divorce, where 95% of divorces are about transferring every bean from the man to the woman, I find it hard to believe a judge would do the opposite and give you some of the wife's wealth. Especially if there are children involved. When that happens, the wife gets everything and the man must suffer a life of destitution.

Welcome to Feminist Ireland!

Not really. In the event of a divorce, the children's welfare is prioritised, so they pretty much always stay in the family home. The parent who is deemed to be their primary carer also stays in the family home as this is usually what is most beneficial to the children.

Guess who the primary carer usually is?
If men want to take on the burden of childcare, they would be more likely to benefit in such situations. Can't have it both ways.

Ipso

Better Than Christ wrote: »

AH Election Poll results suddenly make sense. A vote for Fine Gael is probably the best chance of keeping house prices up and (for the benefit of those of you who own more than one 'property') preventing rent prices from dropping to a humane and sensible level. The term "I'm alright, Jack" springs to mind.

I'm renting at the moment. I could have bought outright a few years ago, but the location (in terms of proximity to Dublin and also the general area itself) wasn't great. A bit of a mistake though, as it would be worth at least €40,000 more now. Anyhow, I won't be buying anything until the next crash. Hopefully I'll have enough saved not to require a significant mortgage. And that's why I'll be voting for Fianna Fail.

Good choice of voting. They have a stellar record in property, great foresight and take no sh1t from the banks.

jester77

Only bought because of kids. Was a very painless process, €50 deposit, talked to my broker and he sorted the mortgage deals. Never had to even visit a bank. First 100k at 1% and the rest at 2% for the 20 year duration. Will sell it then and move back into an apartment, kids should hopefully be moved out by then.

gmisk

Thankfully have a house in dublin 3 bedrooms (1 a box room) bought about 5 years ago not to long after crash (33 then lived here since I was 21/22).
Like the area handy to town, nice neighbours it needed a lot of work (single glazing, garden like something from a Tim Burton film) but nearly there. Similar houses going for approx 140k more than I paid.
I got married last year so we might move somewhere else but no real rush.

Your Face

I own a site. Ill never do anything with it.
Its ok renting. Its dead money but at least I'm not tied down to anything.