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Getting a mortgage alone

[Deleted User]

I am in my early thirties. Coming to the realisation I’m not gonna meet someone and need to start thinking of myself and setting up my own home. I have a good professional career and salary is good.

but - BOI, TSB and EBS calculators are all telling me I will not get more than €110k alone.

is this correct ? How is anyone buying a somewhat decent home alone then if that’s the case?

i feel hopeless. What’s the point if that’s the case?

What are my options here? Besides winning the lotto

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L1011

https://www.boards.ie/discussion/comment/121223139#Comment_121223139

I'm a moderator here asking questions to determine whether a poster needs to be sanctioned. Do not reply to this post.

RichardAnd

https://www.boards.ie/discussion/comment/121223019#Comment_121223019

For the briefest moment, I thought that you were taking the mick....

It's a throw-away comment made to add a modicum of humour to what is otherwise a fairly grim discussion. In other words, it doesn't mean anything.

L1011

https://www.boards.ie/discussion/comment/121223781#Comment_121223781

In future, put far more care and attention in to your attempts at humour, lest they be assumed to be a cheap attempt to brand an entire nation as dodgy, thanks.

Your post was reported and required investigation.

Do not reply to this post.

realitykeeper

I see Minister McGrath says the Help to Buy scheme will not be extended to second hand properties. He claims the reason is it's purpose is to incentivise new building. The real reason of course is that he knows second hand housing stock has been inflated by Irish governments using 200 billion euro, which they borrowed since 2008.

Solving the housing crisis is simple. Just tax existing owners of existing properties (the beneficiaries of the 200 billion) and exempt new builds and first time buyers from the tax. This would not only cause house prices to become affordable, it would create a building boom as existing owners sell up to buy new houses to escape the tax.

Padre_Pio

https://www.boards.ie/discussion/comment/121306004#Comment_121306004

Ignoring that A: there is no extra capacity to build more homes and B: extending the HTB to second-hand homes would inflate them further, you would see that the government that implements your ludicrous plan will get voted out of office and the new government will repeal it.

Home owners won't vote against their own interests, and there are far more home owners than home buyers.

realitykeeper

https://www.boards.ie/discussion/comment/121306093#Comment_121306093

I was not advocating extending the Help to Buy scheme to second hand properties, I was highlighting the fact that existing housing stock has been deliberately inflated by governments since 2008. Before 2008, people bought houses. Not new houses necessarily. Just houses. Government interference in the housing market has caused this anomaly where the young are confined to new builds. Most houses already exist. The problem is existing properties have been inflated with 200 billion euro of borrowed money, to enrich the people who went mad in the naughties and to price young people out of the market.

You mentioned capacity constraints. Well that's what you get when you do what Irish governments have done since 2008. This by the way was pointed out to Enda Kenny's FG back in 08. But they just didn't care. They were only concerned with with the next election.

Padre_Pio

https://www.boards.ie/discussion/comment/121306335#Comment_121306335

The young are not confined to new builds. The young can buy whatever they want.

It's just that new builds offer more value for money than an older house in the same price range (IMO)

A rated, modern layout, no existing issues, usually private parking.

realitykeeper

https://www.boards.ie/discussion/comment/121306365#Comment_121306365

Of course new builds offer more value. That is because they have not been inflated with 200 billion euro of borrowed money since 2008 like existing housing stock has.

Another advantage to taxing existing owners of existing properties is it would force them to sell in order to buy new builds and this would make existing housing stock affordable to first time buyers and raise 200 billion to return the national debt to 2008 levels, before the great manipulation.

realitykeeper

Before the government went on it's post 2008 borrowing binge, existing house prices were half what they are now and plummeting. In an un-manipulated market, they would be again.

That 200 billion needs to be returned to the ECB and existing property owners need to be taxed to pay it.

That would return both the national debt and existing house prices to where they were in 2008.

Padre_Pio

https://www.boards.ie/discussion/comment/121306421#Comment_121306421

I have no idea how any of this is practical in any way.

Tax property owners so they sell and become buyers of non-existent properties.

Current buyers buy the second-hand houses that they don't want... and presumably get taxed too?

Government profits?

Your name doesn't live up to its claim.

Geuze

https://www.boards.ie/discussion/comment/121306641#Comment_121306641

The Govt never borrowed a penny from the ECB, as that is illegal, and has never happenned.

L1011

https://www.boards.ie/discussion/comment/121306004#Comment_121306004

You were told to take your nonsense crayon economics off this forum before. Nothing has changed.