Getting Over Ourselves when it Comes to Housing

Getting on the ladder isn't flawed if you can afford it but for some that bought at the height of the market in 2008 the ladder became more of a slippery plank when negative equity dragged them down and made it impossible to take steps up said ladder. The big difference to 2008 and now is the lack of cheap rental property. We bought in late 2011 which was near enough the bottom of the market and were able to afford a 5 bed West of Cork City. We bought with the intention that it was a permanent move to do us long term. The market conditions made it possible at the time.

Well, I think fair play to you. It requires a lot of sacrifice over a number of years to buy a home in most cases. The ones who comment negatively are unable/unwilling to make the sacrifice, hiding behind "it shouldn't be like that". It is hard to have the discipline to save for several years, but the rewards are worth it in the end in my opinion. Some people would rather sit on the toilet waiting for the council to come around and wipe their hole though.

Well then tell us why it's good to pay rent for the rest of your life. Tell us why it's good to be still paying rent when your 80 when all of your house owner friends have their mortgages paid off years?

To be fair, until you have the final payment made on your house, you don't really 'own' it. Another financial crisis on the scale of 2008 and people find that out pretty quickly. I get where they were coming from, but when people look down on renters because they think they're a 'homeowner' by getting themselves a few 100k in debt makes me chuckle. There's a time for renting and a time for getting a mortgage depending on peoples situation and plans, I don't think it's as easy for OP to say 'owning' is outright better.

I know if you take out a mortgage you don't own it until the final payment. But you have more security than if you rent . If you buy wisely your property is appreciating while your debt is decreasing so hang onto it long enough and you should gain. Paying rent is not gaining any wealth for yourself. I don't look down on renters at all - Of course rental properties are necessary but renters should aspire and work towards owning their own property if they can at all - it makes no sense for someone who can get and afford a mortgage to continue to rent. I feel sorry for people who fail to see the benefits of owning their own property and think that owners are fools.

You obviously don't get the point - I have no interest in trying to explain to you how to be financially savvy. Best of luck to for the future👍👍🙏🙏

Good post. It boils down to having some security. There are stories here and of landlords selling up and people having to leave and having no where to go. This is pure trauma and stress especially if people are tied to the location with jobs, schools etc. it’s just not a good way to live.

It's hard to save a large deposit while renting, but the problem now is house prices are going up every year , a 200k house will probably cost 250k plus in 3 years . There are not enough houses for sale to meet demand. I don't think h saying everyone should have the right to buy property would even solve the problem , someone who works in dublin probably won't want to buy a house in kerry or louth even if it's alot cheaper than a house in coolock. I would not like to try and give someone advice now as to how to buy a house in 10 years time, as who can predict what energy costs. inflation, rental costs wage rates, house prices will be in 2032. The problem is most young people work in city's or large towns so they all.want to buy in certain areas maybe within a hours commute of where they work

For sure the end goal for most is to own a property, but just because someone can get a mortgage doesn't mean they should right away. I don't think people who get a mortage are fools at all, but I do think most people fail to see the benefits of renting in the short term. It you're younger with not a lot of responsibilities (kids etc.) it gives you flexibility to quickly relocate for better paid work, if you're still figuring out what it is you want for a career, renting allows you to take more risks with changing your life (I know plenty people who are miserable in jobs and say they can't take a risk to change career because 'I have to pay the mortgage'), in tough times or if you want to use savings to start a business etc. you can quickly downsize rental property. There are benefits for both depending on circumstances and goals. It just seemed that OP was turning their nose up at their friends for still renting. At the end of the day it doesn't even matter really, everyone just do them 😂

As far as jobs go just now, it's a sellers market. The model is changing and home working will be supported from sides from now on. The FDI investors arent really too fussed about the housing market, because they are satisfied to have their staff in Country and online.

The happiest people I know are the ones that chucked it in and made the best of their money by buying in small towns and rural areas. For me, nothing is second to quality of life. Nothing is secondary to being time rich and absolutely nothing is worth developing ulcers and heart disease for.

My wife and I are mid 40s, have spent recent years making our work life more footloose and by 2024 we'll have sold up the two properties we have in Dublin, both about 50% mortgage paid and we'll take the equity and buy a place near the south coast that we can live happily for the rest of our days in. It'll be near some local services, have a good standard of broadband and a big back field for the dogs to play and visitors to pitch tents in the summer, a garage to park the electric car and my old classic and somewhere to hang the bikes.

We'll be set for life for 350k and money to spare and be able to keep earning as long as our minds desire and bodies are able.

Don't give the best years of your life to a landlord or a bank. It makes to difference which. Get out and live.

Perhaps to you but when you see what the alternative is it makes complete sense