Do you own property?

JDigweed wrote: »

Nope. The banks seem to think I can't afford a mortgage even though I am essentially paying someone else's mortgage (€1,200 monthly rent for going on 6 years now)

Do you think the mortgage is only €600 a month? The landlord will be paying 50% tax on the rental income before they pay the mortgage.

You are essentially paying for a service which you are getting.

The banks like to see your deposit first and calculate out the other expenses. As you rent you don't need insurance life or property. You have no maintenance costs nor need to pay LPT. So the banks are probably right.

Ellison Rough Padding wrote: »

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.

That was my sense at the time too. Well, he's welcome to pay whatever the hell he wants now

Bought my first house 16 months ago Mortgage free as I had saved alot, I rented it out and am saving heavily to buy another as soon as possible. I am just into my thirties with zero debt and home of my own when I need it. My secret of success is that I don't drink or smoke and I live within my means. I am building my own little empire and later in life I will inherit alot also, our family farm has been in the family for almost 200 years and survived the British and various boom and bust cycles and I will be the 7th generation to inherit that.

Owning your own home for me is incredibly important and any man that can't keep a roof over his head and his woman has gone badly somewhere along the line.

Better Than Christ wrote: »

I do wonder how women who aren't owned by men manage to keep roofs over their own heads.

Yes make it into a feminist argument :rolleyes:, as has been rightly pointed out earlier alot of the people whinging and looking for free houses have plenty money for a takeaways 7 nights a week, Sky TV and both parents smoking and drinking. Meanwhile Joe Soap shops in Aldi, pays enormous rent or mortgage and pays a combined 70% tax rate. But Sky TV people demand their forever home for their enormous brood of kids while Joe Soap can't afford his Car Insurance never mind the dream of owning his own home but struggles on for low salary.

This country is a sick joke at how it is ran.

Better Than Christ wrote: »

I call it greed.

That's called capitalism buddy.
That's what provides the taxes for our services (as bad as they are)

Better Than Christ wrote: »

I'll never learn unless I'm taught.

I'm listening reading...

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.

Actually, from a governance perspective, the housing crisis is mainly due to the councils (responsible for planning) than the national government. Unfortunately, our city councils are typically dominated by sinn fein and friends, along with "traditionalists", so priority is always given for maintaining our ridiculously low density city centres.

In terms of the current prices (purchase or rent), that is dependant on the economy. So what you are actually saying is "a vote for Finn Gael is probably the best chance of the economy growing". But, I a somehow don't think that is what you actually meant.

Better Than Christ wrote: »

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.

And when will the next crash be? You could be waiting a lifetime. That would be a silly thing to do.

If you can't get a mortgage today, you wouldn't be able to get one during a crash. A lot of people had the same idea back around '05-'08. Most of them weren't able to buy until '15 onwards by which time prices had mostly recovered.

But why vote for Fianna Fail? I don't get it. Is it that you think if Fianna Fail lead the next government, it will increase the chance of a crash in the near-term? I don't understand.

Better Than Christ wrote: »

I call it greed.

you would!

Better Than Christ wrote: »

I call it greed.

Or begrudgery. Common in " working class " areas when Mary gets a house near her Ma

My partner and I bought a house 3 years ago. We wanted to borrow 90k. We had a deposit of 115k (through inheritance etc) and we were refused. Talk about a job we had convincing them. I'll never forget what a pain in the arse the whole thing was. Eventually they gave us 80k (over 17 yrs cos I was shoving 50). I wouldn't like to be going through the process again.

theguzman wrote: »

Bought my first house 16 months ago Mortgage free as I had saved alot, I rented it out and am saving heavily to buy another as soon as possible. I am just into my thirties with zero debt and home of my own when I need it. My secret of success is that I don't drink or smoke and I live within my means. I am building my own little empire and later in life I will inherit alot also, our family farm has been in the family for almost 200 years and survived the British and various boom and bust cycles and I will be the 7th generation to inherit that.

Owning your own home for me is incredibly important and any man that can't keep a roof over his head and his woman has gone badly somewhere along the line.

Ridiculous thing to say. Plenty of reasons why any man (or woman) might not have been able to buy. Unlike you, I graduated right into the recession and could barely get a job washing pots or answering phones. Spent years struggling on minimum wage jobs and heading abroad for work, my wages just about covering my rent, bills, food and transport. There are loads like me born around that time who were set back nearly a decade by the economic crisis. Not through laziness or being stupid with money, but purely through not being able to find enough well paid work while simultaneously spending a fortune on rent. There is no way on earth I could have saved a deposit by 30, no matter how hard I worked or how many things I gave up.

Funny how people like you always think your success is down to your own hard work. I don't believe for a single second that you didn't have significant help, whether that was being able to live at home for free while in college/working, help with college costs...even knowing that you will inherit a farm is an enormous weight off your shoulders and allowed you to make decisions knowing you had a safety net in the future. You have no concept of having to stand on your own two feet.

Two and a bit houses , one is just gone sale agreed.

The bit is a share I own in another house, theres a family feud going on about it currently.

Myself and my partner bought a place recently. The process was a laborious nightmare to go through though. When we finally got the keys it was like a mountain of stress and uncertainty had lifted off us. My only regret is that I didn't do it years ago. All that money wasted on renting and buying crap I didn't need