Advice Needed

Discrepancy · 30-11-2006 06:47PM #1

Hi,

I am in a alot of despair and i need advice on what to do...

I have a g/f of 7 years and we have a 4 yo boy. We were renting but last year we decided to move into my mother so that we could save for a house.

We have saved 20k and we need to get out of my mothers asap (for various reasons)

My options are...

Jump in and get a mortgage. I would get about 300k which is not gonna get me much in dublin and i dont want my son growing up in an area that i could afford right now (im living in clondalkin so im not a snob!) and im very anxious about investing in property at the moment until i see what happens with the market.

Wait and see if the affordable housing treshold increases (it 40k at the mo in my area, i earn about 45k)

Private rent

Private rent but get the social to pay for it, this would mean that she would have to give up her job, something she is not keen to do.

I am being driven to the depths of despair and would really appreciate any comments/suggestions.

Thanks

Alan

slumped · 30-11-2006 06:56PM

don't do anything until after the budget - looks likely that stamp duty for all first time buyers may become a thing of the past.

300k is enough for this http://www1.myhome.ie/search/property.asp?id=297285&np=&rt=search&searchlist= with 30k to spare

http://www1.myhome.ie/search/property.asp?id=294143&np=&rt=search&searchlist= with 20k to spare

http://www1.myhome.ie/search/property.asp?id=291961&np=&rt=search&searchlist= with 30k to spare

All look OK -

S

Suaimhneach · 30-11-2006 07:03PM

I havent a clue about the technical side of things, but best of luck!

the boss of me · 30-11-2006 07:54PM

:mad: :mad: .

Discrepancy wrote:

i earn about 45k)

Private rent

Private rent but get the social to pay for it,

I can't believe the cheek of you. You earn 45k and you want the welfare to pay your rent.Grow up,be a man. iT'S TIME TO FLY THE NEST. Stand on your own two feet,provide for your partner and child and stop whining.

Victor · 30-11-2006 08:18PM

the boss of me, stop flaming. No need to be so judgemental.

01-12-2006 02:08AM

The real estate bubble seems to have popped in the States. Housing is dropping in value. New housing starts are declining. Me thinks that housing is overpriced in Ireland as well, but the bubble has not popped there yet. You may want to look into this before taking on a huge mortgage? Timing could save you a lot and gain you a lot in the long run?

Advice Needed

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