poker--addict wrote: » sorry brief thread creep but what is or was general point of limiting the FTB support to new builds? Would buying an older house not still drive liquidity, movement, building all around...?
Brandon75 wrote: » So if your on a lower tax rate the better ? I will still save for sure and keep to my saving target.
HotMama89 wrote: » Bought mine in 2016 when I was 26 and a single parent (outside dublin but another city) Moved back home but still paid about 300 pm in rent bought our food etc took me about 18 months of saving 1000pm. Some banks reduced what they would give me but the majority would give me the 3.5 times amount. Had thought about trading up since and have mortgage approval for 300k but have decided to hold off for another 2-3 years I just can't justify paying 300k for the houses currently on the market the supply just isn't there.
true-or-false wrote: » They look at all your savings, it doesn't have to be in a joint account. I don't have kids so I didn't have to deal with the childcare costs piece, but my understanding is that they ask you about childcare costs and deduct that. At the same time, they also increase the minimum amount of disposable income you're expected to have left over after the proposed mortgage payment.
Brandon75 wrote: » brisan wrote: » True I have made a list of good advice I have come across on here. Wont be getting a cheap mattress and bed that's for sure . Any other good advice you got when buying your first home or bad ? You can change everything about a house except its location and the orientation of the garden When you buy do not rush in to major changes . Live in the house use the kitchen ,see what works for you and what does not Low level oven works when you are young ,not so much the older you get etc Same with the rest of the house Why add 2 extra bedrooms when you may have only 1 child If you rarely use a dining room table why spend big on one ,if you entertain a lot then do ,an island with stools may do just as well and be more useful Never leave a bath out in favour of a 2 person fancy dan shower Buy at your leisure and buy the best you can afford
brisan wrote: » True I have made a list of good advice I have come across on here. Wont be getting a cheap mattress and bed that's for sure . Any other good advice you got when buying your first home or bad ?
Geuze wrote: » Paid 278k, borrowed 155k, so had 123k deposit. That was accumulation of maybe decade of saving, plus some gifts. Gifts from parents are okay, parents may have to get legal advice.
brisan wrote: » Never leave a bath out in favour of a 2 person fancy dan shower
8-10 wrote: » Agree with everything you said except this one. I don't see the need for a bath at all, easy way to waste water. Only thing I had to think about was for kids but I just used a plastic half-size bath that was easier to fill and wash than a static full size tub until old enough to use the shower.
brisan wrote: » For one reason as you said kids Sickness is another As you get older you will take more baths ,I don't but my wife does Sale value in the future Kerb appeal ,bathrooms and Kitchens sell houses
8-10 wrote: » Yeah maybe a lot of it is preference but elderly people in my family (I'm not quite there yet) use a seat in a wet room shower with support handles, over a bath which is pretty dangerous for those with limited mobility. I have more than one example where the bath - having not been used in over a decade as a bath - had to be removed to make way for the walk in shower. Unless you have really long showers, baths are always going to be worse for the environment. On re-sale value, I'd hope that this is something that starts to change in future but you are correct for now. But I'd still say a well desinged and finished shower room would still appeal to many if presented correctly, especially in a smaller bathroom.
brisan wrote: » While the environment is a major concern ,I do not think it plays a big part in people's decision making when buying a house A rated house are built because that is the regulations set by the Government Every new build has a bath because A ) Its cheaper B ) Its what people want
8-10 wrote: » Yeah but many are now opting out of a bath for new builds. I don't disagree with your points I just disagree with the advice that it's "never" a good idea
brisan wrote: » Have you a link to a new build House without a bath as standard ? I am only going on my own experience of 38 years of buying 4 family homes and flipping 30 plus properties A bath will always be prefered to a shower ,both if possible granted Maybe you are right and trends are changing and I am behind the times
brisan wrote: » Its not Help To Buy Its either Help The Builder Or Help The Brickie Builders have built the HTB in to the price of a new build When the HTB ends the prices will drop the same way they increased when it was introduced
Paul_Mc1988 wrote: » I never really saved I just didnt waste money and it built up in my current account. After going back to college post downturn I got a job in 2015. After 4 years I had 75k. Herself saved for two years and had 35k. So 110k in total. Bought a 440k house and used the whole 110k as a deposit. So 330k mortgage (parents paid for stamp duty and solicitors fees) House was a gutter and we done it up with cost 40k we managed to save the 40k in 7 months of pure frugality. So no loans taken out. Currently 11 months into the mortgage and with ulster bank you can overpay on a fixed so I'm plowing it off. Should have it played off in 8 years all things going well.
whomitconcerns wrote: » Your going to repay about 50k a year... That's fair going!
Carter D wrote: » How does a gift work do they just need a letter from parents to say they are giving this much as a gift towards a mortgage? How much tax would I pay if got a 30k gift from parent towards a mortgage ?
pooch90 wrote: » If its from a parent then you wouldn't have to pay Capital Gains Tax on it. Parents sign a gift letter stating they have no claim to the property.
Carter D wrote: » Thanks for the reply I thought thought you had to pay tax if it was a good amount. Does my parent have to do a bank transfer or does the bank care once they have the letter . Say they gave me 15k cash then 15k a few weeks later ?
