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How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

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    #962
    Naos
    Registered Users Posts: 4,728 ✭✭✭Naos


    Geuze wrote: »

    2014 median earnings = 41,829 for FT workers.

    That is in "Industry, construction and services (except public administration, defense, compulsory social security)"

    To be fair, that's about 300k out of 2m workers that the median wage is not accounting for.


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    #963
    jim-mcdee
    Registered Users Posts: 373 ✭✭jim-mcdee


    lainey_d_123 wrote: »
    It's insane how many people just accept that 'that's the way it is'. Accept that they were born to spend their lives commuting two hours each way five days a week and then sit in their tiny village in the middle of nowhere all weekend eating beans on toast on their own just so they can pay the mortgage on their shoddily built house, which they bought so they could go to work in Dublin every day. Do none of these people ever question any of this?

    Nobody should accept that. The fact is quite a few people CHOOSE to do just that. Well not as extreme as you put it but similar. I read an article a while ago about a bunch of guys that commute from Limerick to Dublin daily. The particular guy had a good job and had been doing the commute 10+ years. He could have easily gotten a same job in Limerick. But he choose to commute to have access to higher paid jobs in Dublin. Horses for courses or whatever they say. Yes it is insane, but there are insane people out there.


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    #964
    GreeBo
    Registered Users Posts: 27,087 ✭✭✭✭GreeBo


    Naos wrote: »
    To be fair, that's about 300k out of 2m workers that the median wage is not accounting for.

    Or all of those 2M full time workers or does that include part time/temporary workers?


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    #965
    [Deleted User]
    Posts: 4,727 ✭✭✭ [Deleted User]


    handlemaster wrote: »
    so what is the consensus, can someone buy or not in their thirties ?I think alot of people think housing should be easy to get , with little work or savings

    The answer is yes, but you'll need an above average job if you want to live in Dublin.

    Nobody thinks it should be easy, but it shouldn't be this hard either.

    Trying to rent in Dublin and save for a deposit is hell. I know because I just moved into my new house after years of renting.


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    #966
    Eric Cartman
    Registered Users Posts: 26,282 ✭✭✭✭Eric Cartman


    DubJJ wrote: »
    Neither of these statements are without merit as they are both referring to different periods of time.
    Personally I believe that the restrictions that are in place at the moment are necessary to stop the prices inflating even higher, but the bigger issue is the credit that was available 10+ years ago which allowed prices to go of the rails in the first place.
    handlemaster wrote: »
    so what is the consensus, can someone buy or not in their thirties ?I think alot of people think housing should be easy to get , with little work or savings

    I think the concensus is :

    people who are a double income household with no dependents over 120k can just about buy in dublin , either an apartment in somewhere well serviced or in a soulless housing estate thats an hour commute out.

    Anyone who does not fit that description is relegated to a house in a really rough estate in a few areas that have long standing issues with drugs and gang violence , but thats only for those with a 70K + income

    anyone without a 70k income, dependents or any other circumstances is pretty much left 1.5 hours commute minimum from dublin but that might be fine if they have a job elsewhere.

    the division seems to come from whether something should be done to enable people on 70k a year to live in dublin or not. SOme say no, others say yes.

    The real lesson I think ive learned here is though, if I was an unskilled worker or making <30k a year id be applying to every job in sligo/roscommon/leitrim , you can have a house bought and a better standard of living there on 20k than you can in dublin for 45k. Rural Ireland is definitely an avenue more lower earners should explore.


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    #967
    GreeBo
    Registered Users Posts: 27,087 ✭✭✭✭GreeBo


    Eric Cartman wrote: »
    I think the concensus is :

    people who are a double income household with no dependents over 120k can just about buy in dublin , either an apartment in somewhere well serviced or in a soulless housing estate thats an hour commute out.
    I think this is nonsense. On 120k with or without dependents you can more than "just about" buy in Dublin.
    Most "housing estates" are an hour commute out, soulless or otherwise. How long do you think it takes to commute from the Dublin suburbs? Sure you could be an hour from Templeogue to city centre. Is Templeogue a soulless housing estate?
    Eric Cartman wrote: »

    Anyone who does not fit that description is relegated to a house in a really rough estate in a few areas that have long standing issues with drugs and gang violence , but thats only for those with a 70K + income

    anyone without a 70k income, dependents or any other circumstances is pretty much left 1.5 hours commute minimum from dublin but that might be fine if they have a job elsewhere.

    the division seems to come from whether something should be done to enable people on 70k a year to live in dublin or not. SOme say no, others say yes.
    Again, to summarise.
    "poorer people live in poorer areas than richer people do" Exactly how it works all over the world and it always has worked.
    Eric Cartman wrote: »
    The real lesson I think ive learned here is though, if I was an unskilled worker or making <30k a year id be applying to every job in sligo/roscommon/leitrim , you can have a house bought and a better standard of living there on 20k than you can in dublin for 45k. Rural Ireland is definitely an avenue more lower earners should explore.

    Which is exactly the counter-argument that has been proposed on this thread over and over again.
    Stop trying to live in Dublin if you can't afford to.


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    #968
    zedhead
    Registered Users Posts: 601 ✭✭✭zedhead


    Eric Cartman wrote: »
    I think the concensus is :

    people who are a double income household with no dependents over 120k can just about buy in dublin , either an apartment in somewhere well serviced or in a soulless housing estate thats an hour commute out.

    Anyone who does not fit that description is relegated to a house in a really rough estate in a few areas that have long standing issues with drugs and gang violence , but thats only for those with a 70K + income

    anyone without a 70k income, dependents or any other circumstances is pretty much left 1.5 hours commute minimum from dublin but that might be fine if they have a job elsewhere.

    the division seems to come from whether something should be done to enable people on 70k a year to live in dublin or not. SOme say no, others say yes.

    The real lesson I think ive learned here is though, if I was an unskilled worker or making <30k a year id be applying to every job in sligo/roscommon/leitrim , you can have a house bought and a better standard of living there on 20k than you can in dublin for 45k. Rural Ireland is definitely an avenue more lower earners should explore.

    This isnt true. We bought just over a year ago with combined income of 80k. One of us self employed so not the most attractive for mortage from the banks. We saved the deposit in 4 years while renting in dublin with no help from parents or lump sums to add and at the time we started saving we were each earning less than 25k each (while paying rent and bills). We got a semi d in dublin in a safe and quiet part of one of the 'undersirable' areas people keep talking about, and in the time since we bought the selling prices of the houses around us have not gone up much since then.

    While luck plays a small part in how your life turns out, you can't write off peoples ahrd work and determination. I worked really hard to get what I want, and this idea that I was just lucky in my circumstances disregards that all together. I have an arts degree, started my job just over 5 years as an administrator (after making stupid career choices in my 20's) and within 5 years, through hard work and determination (and no additional studying) have doubled my salary and increased my future prospects.

    Yes the above is not realistic for a single person, but again why should it be. A single person does not have the same housing needs as a couple. We have friends who have bought singly in the past few years, it wasnt easy and they all had to make compromises on their dream home in terms of location, size, property type but it is possible.

    Its not easy, and for some it may be out of reach. But if you just decide the market is useless and you don't even try you will never get there.


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    #969
    Eric Cartman
    Registered Users Posts: 26,282 ✭✭✭✭Eric Cartman


    zedhead wrote: »
    This isnt true. We bought just over a year ago with combined income of 80k. One of us self employed so not the most attractive for mortage from the banks. We saved the deposit in 4 years while renting in dublin with no help from parents or lump sums to add and at the time we started saving we were each earning less than 25k each (while paying rent and bills). We got a semi d in dublin in a safe and quiet part of one of the 'undersirable' areas people keep talking about, and in the time since we bought the selling prices of the houses around us have not gone up much since then.

    While luck plays a small part in how your life turns out, you can't write off peoples ahrd work and determination. I worked really hard to get what I want, and this idea that I was just lucky in my circumstances disregards that all together. I have an arts degree, started my job just over 5 years as an administrator (after making stupid career choices in my 20's) and within 5 years, through hard work and determination (and no additional studying) have doubled my salary and increased my future prospects.

    Yes the above is not realistic for a single person, but again why should it be. A single person does not have the same housing needs as a couple. We have friends who have bought singly in the past few years, it wasnt easy and they all had to make compromises on their dream home in terms of location, size, property type but it is possible.

    Its not easy, and for some it may be out of reach. But if you just decide the market is useless and you don't even try you will never get there.

    so basically what I said was correct....


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    #970
    limnam
    Registered Users Posts: 9,152 ✭✭✭limnam


    Eric Cartman wrote: »
    so basically what I said was correct....




    Safe and quiet doesn't sound like what you said...


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    #971
    zedhead
    Registered Users Posts: 601 ✭✭✭zedhead


    Eric Cartman wrote: »
    so basically what I said was correct....

    No we are in a safe and quiet area with little crime and very nice neighbours. All of the 'undesirable areas' people keep spouting about have pockets like this if you do a bit of research and adjust your expectations. Would I have liked to buy down the road from where i grew up, of course. But I couldn't afford it so I had to look further a field. I was realistic about what we could afford and found something that met as many of my requirements as possible.


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    #972
    antimatterx
    Registered Users Posts: 2,679 ✭✭✭antimatterx


    I think in just comes down to saving as much as possible in your 20s. I know its hard, and people say you should be enjoying your 20s, but if you don't, you'll be kicking yourself when you're 30.


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    #973
    muddle84
    Registered Users Posts: 1,681 ✭✭✭muddle84


    antimatterx wrote: »
    I think in just comes down to saving as much as possible in your 20s. I know its hard, and people say you should be enjoying your 20s, but if you don't, you'll be kicking yourself when you're 30.

    I think the key is that you save what you can and start saving as soon as you start earning and when you save never touch it. I burnt it at both ends in my twenties and wouldn't change a thing. If i saved more i'd have a smaller mortgage now but i don't regret it.

    I know everybody circumstances are different but that has been my experiences even if its only a fiver a week keep saving.


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    #974
    KaneToad
    Registered Users Posts: 3,177 ✭✭✭KaneToad


    Family "help" plays a big part.
    Inheritance tax should be levied at a lower threshold to help create more social equality.


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    #975
    antimatterx
    Registered Users Posts: 2,679 ✭✭✭antimatterx


    KaneToad wrote: »
    Family "help" plays a big part.
    Inheritance tax should be levied at a lower threshold to help create more social equality.

    I'm almost mid 20s and getting family help, but thats in the form of living at home and being able to save close to 2K a month.

    My parents have offered to give me money, but I don't need it. The ability to live at home and save is a gift.


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    #976
    antimatterx
    Registered Users Posts: 2,679 ✭✭✭antimatterx


    muddle84 wrote: »
    I think the key is that you save what you can and start saving as soon as you start earning and when you save never touch it. I burnt it at both ends in my twenties and wouldn't change a thing. If i saved more i'd have a smaller mortgage now but i don't regret it.

    I know everybody circumstances are different but that has been my experiences even if its only a fiver a week keep saving.

    Everyone can save something. You just get to crunch your spending and see where you can make cut backs, or see if you can move job and make some more money a year.


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    #977
    muddle84
    Registered Users Posts: 1,681 ✭✭✭muddle84


    antimatterx wrote: »
    Everyone can save something. You just get to crunch your spending and see where you can make cut backs, or see if you can move job and make some more money a year.

    Exactly but at the same time people should really enjoy their twenties, you only get one shot at them. Even if it means you don't buy your house until you're 40 so what!


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    #978
    antimatterx
    Registered Users Posts: 2,679 ✭✭✭antimatterx


    muddle84 wrote: »
    Exactly but at the same time people should really enjoy their twenties, you only get one shot at them. Even if it means you don't buy your house until you're 40 so what!

    I'm enjoying my 20s, I'm very happy in life. I don't need to go away twice a year, buy fancy cars, buy expensive watches to "prove" to people I'm enjoying myself.

    I'm happy going to work, seeing my friends a few times a week, saving towards goals. Just trying to build a life.


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    #979
    yourdeadwright
    Registered Users Posts: 20,552 ✭✭✭✭yourdeadwright


    KaneToad wrote: »
    Family "help" plays a big part.
    Inheritance tax should be levied at a lower threshold to help create more social equality.

    Inheritance tax is a load of **** ,

    I work my bollox off to get what I have and i'm taxed on it.

    When I die if I want to leave my hard work to my children why in gods name should it be taxed again,


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    #980
    yourdeadwright
    Registered Users Posts: 20,552 ✭✭✭✭yourdeadwright


    antimatterx wrote: »
    I'm enjoying my 20s, I'm very happy in life. I don't need to go away twice a year, buy fancy cars, buy expensive watches to "prove" to people I'm enjoying myself.

    I'm happy going to work, seeing my friends a few times a week, saving towards goals. Just trying to build a life.

    Your spot on, some people are sheep and don't understand there are other ways people "Enjoy" there life than spending money on nonsense

    Todays generation are sheep , spend absolute fortune on ****e holidays, horrific looking clothes ,Jewellery and the likes just to get a instagram picture they think will get them likes,


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    #981
    Bandana boy
    Registered Users Posts: 4,325 ✭✭✭Bandana boy


    yourdeadwright wrote: »
    Inheritance tax is a load of **** ,

    I work my bollox off to get what I have and i'm taxed on it.

    When I die if I want to leave my hard work to my children why in gods name should it be taxed again,

    It is not taxed again , there is no tax liability on you when you give away money.

    Income though is taxed on the recipient as it is when you get paid for a job or make a profit on selling an asset.

    there was tax payed on the money used to pay you every month , its no different.


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    #982
    muddle84
    Registered Users Posts: 1,681 ✭✭✭muddle84


    The inheritance tax threshold for a parent to a child is €335,000 though which is alot of money. If you're passing more than that on to your child fair play to you but that is a lot of money or value to pass on before you're taxed.


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    #983
    Iscreamkone
    Registered Users Posts: 724 ✭✭✭Iscreamkone


    muddle84 wrote: »
    The inheritance tax threshold for a parent to a child is €335,000 though which is alot of money. If you're passing more than that on to your child fair play to you but that is a lot of money or value to pass on before you're taxed.

    That's €335k per parent if organised properly. Also, parents can gift children €3k per annum. That's €6k or €60k over 10 years.

    Also, cash is hard to track.


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    #984
    wyndham
    Registered Users Posts: 2,284 ✭✭✭wyndham


    Iscreamkone wrote: »
    That's €335k per parent if organised properly. Also, parents can gift children €3k per annum. That's €6k or €60k over 10 years.

    Also, cash is hard to track.

    It's not per parent.


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    #985
    Iscreamkone
    Registered Users Posts: 724 ✭✭✭Iscreamkone


    wyndham wrote: »
    It's not per parent.

    I believe I can gift my child €335k tax free. My child's mother can also gift her a separate €335k tax free.

    The only thing stopping us is the lack of funds


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    #986
    muddle84
    Registered Users Posts: 1,681 ✭✭✭muddle84


    Iscreamkone wrote: »
    I believe I can gift my child €335k tax free. My child's mother can also gift her a separate €335k tax free.

    The only thing stopping us is the lack of funds

    I'm afraid that's not how it works. The threshold is per child not per parent. The tax is paid by the person that inherits the money so if i am to inherit money from both parents if the sum is greater than that i pay tax on it. If i inherit €335k (€770k total) from each of my parents i'm paying tax on €335k.


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    #987
    Aisling(",)
    Registered Users Posts: 6,384 ✭✭✭Aisling(",)


    Iscreamkone wrote: »
    I believe I can gift my child €335k tax free. My child's mother can also gift her a separate €335k tax free.

    The only thing stopping us is the lack of funds

    No you can't.The group a threshold is pooled for any gifts/inheritances received from parents/step parents.


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    #988
    Iscreamkone
    Registered Users Posts: 724 ✭✭✭Iscreamkone


    Aisling(",) wrote: »
    No you can't.The group a threshold is pooled for any gifts/inheritances received from parents/step parents.

    I'll bow to your superior knowledge in this area but it didn't say that on the revenue website re thresholds. Must be in the small print somewhere.


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    #989
    Lux23
    Registered Users Posts: 7,134 ✭✭✭Lux23


    I had a very similar experience as you OP; I was made redundant in 2010 at 28, studied for a year and then started a job in 2011 at 29. I was made redundant from that role in 2013 at 31, and then it was 2015 before I had a paid job again after I completed another qualification at 33. That job paid very little, so I got a new one and was only in a position to start saving in late 2017 at 35. We have our deposit, but we have had nothing but bad luck in the last year with our car and my partner's health that I reckon I will be in my 40s by the time I actually buy somewhere. We might have to move soon so that is another chunk of our money gone.


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    #990
    Aisling(",)
    Registered Users Posts: 6,384 ✭✭✭Aisling(",)


    Iscreamkone wrote: »
    I'll bow to your superior knowledge in this area but it didn't say that on the revenue website re thresholds. Must be in the small print somewhere.

    https://www.revenue.ie/en/gains-gifts-and-inheritance/cat-thresholds-rates-and-aggregation-rules/cat-aggregation-rules.aspx


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    #991
    CBear1993
    Banned (with Prison Access) Posts: 1,397 ✭✭✭CBear1993


    Would rather spend my money on travel than any of the above. Seeing the world is something everyone should do IF they can before they have kids and settle down.

    No use both sitting in your house in your early 30s with a child and neither of you have been anywhere bar a trip to galway and it's pishing rain. The ones who are extremely tight, miserable bast*rds tend to have a lot of resentment and regret as they get older.

    But hey, each to their own. I've met people delighted with themselves who wouldn't know where Dublin airport is never mind what it looks like.


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