Owning a house

cena · 22-11-2013 12:53AM #1

I wish I could afford to buy a house, cause this renting is a waste of money. Only best bit of renting is if something need fixing you don't have to pay the plumber for a call out etc

Anyone else feel the same?

Pat Mustard · 22-11-2013 12:55AM

Tis dead money OP. What a fella like you wants is a massive fcuking mortgage.:pac:

Mint Aero · 22-11-2013 12:56AM

Renting is a fools game, buying is where it's at :cool:

chopper6 · 22-11-2013 12:57AM

Money down the drain,renting.

kwestfan08 · 22-11-2013 12:58AM

cena wrote: »

I wish I could afford to buy a house, cause this renting is a waste of money. Only best bit of renting is if something need fixing you don't have to pay the plumber for a call out etc

Anyone else feel the same?

And not being tied to the one place, able to move if you don't like the area etc

Femme_Fatale · 22-11-2013 12:58AM

cena wrote: »

I wish I could afford to buy a house, cause this renting is a waste of money.

Ok there is nothing wrong with wanting to buy a house - I'm not remotely a member of the "People who take out mortgages are fools" brigade. Renting forever is an understandably unappealing prospect to many people. But how is it a waste of money? It's a really necessary service, seeing as it's the only alternative to taking out a mortgage. It's a service with a return, like any other service you pay for. Maybe look at moving into somewhere with cheaper rent? Rent should be at a set rate though, IMO.

Teagwee · 22-11-2013 12:58AM

With property tax, septic tank charges, water charges, communication tax etc, I feel as if I'm only renting my house even though I 'own' it - and I still have to fix everything that goes wrong

jester77 · 22-11-2013 01:00AM

So true OP, much better paying interest to the banks instead of rent to landlords. Sure most landlords are only cowboys, bankers are sound and deserve their big bonuses.

Lando Griffin · 22-11-2013 01:01AM

And dont talk to me if you want to add a 2 car garage to one side of the house.
You would think those in the Planning dept would have feck all to do these days and just pasd the feckin thing.

OneArt · 22-11-2013 01:05AM

All the taxes, water charges etc. coupled with the constant f*cking maintenance of the roof, heating system and all that sh!t that owning a property brings, it's a bigger pain in the arse than renting.

"Dead money" my hole. In that case the money you pay for your car and health insurance is also "dead money".

We all die in the end anyway and our houses get overgrown with weeds and vines and become either the playhouses of ravenous monkey-lions (this will be in the future) or oiling stations for robot prostitutes.

Holsten · 22-11-2013 01:05AM

Depends on individual circumstances.

You have to look at both from a long term perspective, e.g 10+ years.

Do up the maths to see if it's better to rent or buy.

chopper6 · 22-11-2013 01:06AM

Lando Griffin wrote: »

And dont talk to me if you want to add a 2 car garage to one side of the house.
You would think those in the Planning dept would have feck all to do these days and just pasd the feckin thing.

I needed planning permission to add a driveway to the front of the house!

cena · 22-11-2013 01:07AM

Lando Griffin wrote: »

And dont talk to me if you want to add a 2 car garage to one side of the house.
You would think those in the Planning dept would have feck all to do these days and just pasd the feckin thing.

We once had a a one car garage. Brother took it over as his work shop before we sold it.

Henlars67 · 22-11-2013 01:07AM

It would take me up until I'm 70 to spend on rent what repayments on a house would cost me.

I also don't have to spend any money on repairs, paint etc. It's much easier to move if I ever need to for whatever reason.

As it stands I wouldn't get a mortgage but even if I can in a few years time there is absolutely no way that I will.

I really don't see the advantage of buying over renting.

It's just an Irish thing that people think they have to buy their own home. The rate of home ownership here is almost 70%, compared to Germany where it's just over 40% and the Germans seem to be getting on just fine.

cena · 22-11-2013 01:09AM

Femme_Fatale wrote: »

Ok there is nothing wrong with wanting to buy a house - I'm not remotely a member of the "People who take out mortgages are fools" brigade. Renting forever is an understandably unappealing prospect to many people. But how is it a waste of money? It's a really necessary service, seeing as it's the only alternative to taking out a mortgage. It's a service with a return, like any other service you pay for. Maybe look at moving into somewhere with cheaper rent? Rent should be at a set rate though, IMO.

What would suggest should be a set rate?
I'm not on about a big mortgage. I don't need a big house

theblaqueguy · 22-11-2013 01:09AM

Just buy a tent and camp in the local field its alot cheaper than renting

chopper6 · 22-11-2013 01:11AM

theblaqueguy wrote: »

Just buy a tent and camp in the local field its alot cheaper than renting

BUY a tent?

You dont know much about saving money do you?

cena · 22-11-2013 01:11AM

theblaqueguy wrote: »

Just buy a tent and camp in the local field its alot cheaper than renting

Did you not hear of the tent tax coming in?

evolving_doors · 22-11-2013 01:14AM

OneArt wrote: »

All the taxes, water charges etc. coupled with the constant f*cking maintenance of the roof, heating system and all that sh!t that owning a property brings, it's a bigger pain in the arse than renting.

"Dead money" my hole. In that case the money you pay for your car and health insurance is also "dead money".

We all die in the end anyway and our houses get overgrown with weeds and vines and become either the playhouses of ravenous monkey-lions (this will be in the future) or oiling stations for robot prostitutes.

Renting..
Dead Money..

Hmm let me see now ..(consults goolge for these ancient phrases)

Vaguely familiar words I've heard before .... aggghhhhh it's started again...

Quick...Buy now OP and flip it in 5 years you'll be minted...
Prices are only going to go up

Have you considered decking yet?

Charlie19 · 22-11-2013 01:15AM

Mortgage all the way.

Because if I live till my 80s or so.
I'm loving the idea of having the option to either

Leave the property to the family or cash in and go on a cruise.

keith16 · 22-11-2013 01:17AM

Charlie19 wrote: »

go on a cruise.

I was on a cruise once. Tom Cruise.

MadsL · 22-11-2013 01:41AM

Just bought a house. I have never worked as hard in my life with all the stuff needed doing to it.

Only reason we bought is that rents are bad value in the area..

Renting can be cheaper than buying, as long as you invest the money you would have put into the house to offset the lack of return on your rent money.

guppy · 22-11-2013 01:54AM

I've been renting 10 years. My son was born during this time. I definitely see the benefits of renting, but I just want my own house now to decorate and furnish as I want. I want double glazing and not have to live with windows that steam up all winter long. I want better quality fittings.

Renting is seen as a stop gap in Ireland. If the system was different, I could do all of the above in my rented accommodation and I'd be happier, but it's rare in Ireland to be able to redecorate a rental property yourself, and I've no incentive to invest in upgrading it. The landlord won't bother either as it's less profit for him

KyussBishop · 22-11-2013 04:52AM

Some interesting links along my Google travels:
http://www.numbeo.com/property-investment/gmaps_rankings.jsp?indexToShow=getAffordabilityIndex&year=2013
https://en.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate
http://www.globalpropertyguide.com/Europe/ireland/price-gdp-per-cap

From what I understand, the rental market in Ireland isn't all too good compared to the continent, and there's much room for improvement there - I always thought house prices here were a bit ridiculous myself (and, compared to the US at least, there's room for improvement), but apparently (judging by first link) it's not too bad compared to other places.

Ireland is certainly unusual in its high rate of home ownership, and I think a transition to a better regulated/organized rental market would be a good thing - there are also some other interesting alternatives that are less explored, like co-op rental communities, where the places are community-owned rather than managed by a landlord or letting agency:
https://en.wikipedia.org/wiki/Housing_cooperative

I'm surprised that home-ownership isn't a more common thing, because when you compare the actual material cost of building a home versus the average persons salary, it should not be unfeasible at all for most people, but it is the premium placed on land/location and the interest payments on a mortgage (which are compounded and become extremely punishing the longer the mortgage goes on - for no reason other than to profit the banks, and it doesn't even need to be setup this way), which make it impractical.

In my own opinion, I don't think it should be that way - I think home ownership should become a more acceptable standard, and that provision of land/housing should be protected against rent-seeking and speculative bubbles like we saw in the run up to the economic crisis.

Houses (and the land they are on) are literally the most expensive things the average person will ever buy, so manipulating control over land/housing and how credit is made available for mortgages, is one of the primary ways of wielding significant political/economic/social control over the rest of society (to both ensure people have to put in a lot of work/labour to afford a home, while also extracting a huge share of the compensation i.e. money they earn for that labour).

22-11-2013 05:32AM

Being able to change living arrangements on a whim based on current situation is worth it for the "dead money".. Bit of downturn in finances, move somewhere cheaper. Things looking good, get something nicer. Job in another part of the city/country/world, move.

I think people should only get mortgages well into their 30's with big % of it being down payment.

mojesius · 22-11-2013 07:17AM

Unless I get a cash windfall, I can't see myself buying. I've seen some nice places on Daft.ie in nice areas recently, but most of them have insane annual service charge fees or else they're are in serious need of a costly revamp, so I'm not bothered (Am I bovvered?!)

I rent a really nice, affordable apartment in the city centre, everything including work on my doorstep, landlord is excellent, no commuting costs unless I'm going to visit family, friends etc., no need for a car and flexibility to end my lease if and when I need to.

What bugs me about the rental market in Ireland is that it's so backward it discourages people from renting long-term. We have no rent control/stabilisation schemes similar to cities in Germany, France or Belgium where you can rent the same place for years without the rent being unfairly increased when the landlord decides to do so.

Irishcrx · 22-11-2013 09:53AM

I own a house and it has it's good points and bad points. Good points being that i can decorate it to my own , plan for the future with kids etc , I enjoy maintaining it as it's mine , I don't mind putting money into it as it's a long term thing , I hated having to move all the time, I'm not at the mercy of landlords (Rented for years and can be a nightmare dealing with them or estate agents). Bad points being all the taxes and charges but that's part of it.

Depends on situation as well, you have some people who have huge mortgages and are stuck with them say €1500 - €2000 a month plus everything on top of that when they could have rented a place for say €900 - €1200 a month.

Or you could have some who have small enough mortgages and the rates aren't too bad at the minute so they could be paying €550 a month for their mortgage in a 3 bed semi which they own and someone else could be paying €1100 a month for a dingy 2 bedroom house which they are renting and has a a**hole for a landlord. I know people in each of these situations.

JP85 · 22-11-2013 09:53AM

One of the nice things about owning your own house is that you can have decent furniture and not cheap plastic/ IKEA cr@p all over the place

Irishcrx · 22-11-2013 10:09AM

JP85 wrote: »

One of the nice things about owning your own house is that you can have decent furniture and not cheap plastic/ IKEA cr@p all over the place

Take that back sir, IKEA is a place of wonder and cheer. I can't even remember life before Ikea it would be like medevial times all over again.

I love Ikea, love it - I especially love it on a Saturday when I have to covertly make my way around the army of buggies to avoid being knocked down. Their low price food, well better than a can of pedigree chum and who doesn't enjoy being in a que for an hour and a half at the end of it all.

What a great day out, and sure the furniture if guaranteed to last at least 6 month's

flanzer · 22-11-2013 10:12AM

As a mortgage holder myself, I'd still prefer to spend just over a 1/3 of my life paying for a mortgage, than spending he whole of my life paying rent. Thank you very much

Kintarō Hattori · 22-11-2013 10:13AM

JP85 wrote: »

One of the nice things about owning your own house is that you can have decent furniture and not cheap plastic/ IKEA cr@p all over the place

Irishcrx wrote: »

Take that back sir, IKEA is a place of wonder and cheer. I can't even remember life before Ikea it would be like medevial times all over again.

What a great day out, and sure the furniture if guaranteed to last at least 6 month's

In fairness to them they have price and quality to suit a wide variety of people. Spend cheaply and you'll get cheap furniture. Go up the scale and the quality of their furniture is much better. Their kitchens are guaranteed for 25 fecking years!

Owning a house

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