Rent prices

Alf Veedersane · 18-02-2014 02:09PM

average_runner wrote: »

Can get a good size 2 bed for 160,000 outside the city like Lucan etc

I'd rather have rented where I was for the same price as the mortgage for a house in Lucan given the extra expense that would have involved.

I'd find more value in renting and enjoying living where I live than owning and not enjoying where I live.

OldNotWIse · 18-02-2014 02:12PM

It's scary alright. We are going through the mill at the moment with our landlord who is essentially attempting an illegal eviction because rents have shot up since we signed a lease. Tough sh1t I say but she's hopping, no doubt thinking about the extra money she could be getting now. If you check DAFT, it shows price fluctuations per property and most have increased substantially in the very recent past. We are thinking about sharing when our lease expires :mad: Or maybe moving in with mammy and giving her the money instead

average_runner · 18-02-2014 02:13PM

Inspector Coptoor wrote: »

I currently cycle to work, going in and out to Lucan would make that commute harder.
My fiancée needs to be located close to where we are now due to the on call nature of her job.
It's not as simple as move to the periphery of Dublin

Work out the range from your other half workplace and yours.
Her response time for getting to work etc. How bad traffic in her area is.
Example Lucan has bus lane, so 30 -40 mins during rush hour to city centre.

For you its easy, you cycle, you can live within 10-12 mile radius of work as it be a 30-40 min cycle which is grand and good for you.

average_runner · 18-02-2014 02:14PM

Alf Veedersane wrote: »

I'd rather have rented where I was for the same price as the mortgage for a house in Lucan given the extra expense that would have involved.

I'd find more value in renting and enjoying living where I live than owning and not enjoying where I live.

Thats your choice and fair play.

OldNotWIse · 18-02-2014 02:16PM

average_runner wrote: »

Just before the trackers went. Doesnt matter where i bought, the house value was 450 at the time.

Rent is dead money, you get nothing in return, buying is not, even if your house only ends up with a value of 2000 euro, you still get something that is yours to do what you want to it and not wonder will you have to leave after lease is up.

Only buy what you can afford, but think of the future, say 2 kids and one of ye lose a job. Calculate the worst scenario

What happens if you have a mortgage of 400k on a property thats only worth 200k? Will you still have something left?

average_runner · 18-02-2014 02:17PM

OldNotWIse wrote: »

What happens if you have a mortgage of 400k on a property thats only worth 200k? Will you still have something left?

Wont you have a house after you paid it off? What does it matter if your going to live there forever and your happy?

Our house is out of negative equity, but i dont care if it goes up 200,000 or down as its my home.

tmc86 · 18-02-2014 02:20PM

11% rise in rent, that's gotta be the whole country right?

Dublin alone rent has gone up 20% in our experience over the last two years.

Won't be able to afford to buy for another few years so no choice but to grin and bear it.

OldNotWIse · 18-02-2014 02:20PM

average_runner wrote: »

Wont you have a house after you paid it off? What does it matter if your going to live there forever and your happy?

Our house is out of negative equity, but i dont care if it goes up 200,000 or down as its my home.

Negative equity is clearly not an issue of you are planning to stay there forever. It might be an issue for your successors though.

average_runner · 18-02-2014 02:22PM

OldNotWIse wrote: »

Negative equity is clearly not an issue of you are planning to stay there forever. It might be an issue for your successors though.

Why?

Property has proven thru history that its a bad investment opportunity, so you buy to live in it, negative equity wont matter. Always buy what you can afford if things go pear shape.

The Diabolical Monocle · 18-02-2014 02:22PM

Inspector Coptoor wrote: »

I'm getting a service - ie, shelter.

So is he.

But he owns something at the end.

awec · 18-02-2014 02:31PM

average_runner wrote: »

Why?

Property has proven thru history that its a bad investment opportunity, so you buy to live in it, negative equity wont matter. Always buy what you can afford if things go pear shape.

Well, negative equity does matter because you are paying more for something than it's worth. You are in higher debt and you get nothing in return for that larger debt.

I would far rather be in the situation where I am renting than be in negative equity.

average_runner · 18-02-2014 02:32PM

awec wrote: »

Well, negative equity does matter because you are paying more for something than it's worth. You are in higher debt and you get nothing in return for that larger debt.

I would far rather be in the situation where I am renting than be in negative equity.

But your always paying over the odds for renting as you end up with nothing.

Also what i paid in rent for city centre 15 years has double since. Yes wages will go up but the cost of the mortgage will not double.

OldNotWIse · 18-02-2014 02:34PM

average_runner wrote: »

Why?

Property has proven thru history that its a bad investment opportunity, so you buy to live in it, negative equity wont matter. Always buy what you can afford if things go pear shape.

Again, I know. Its not an issue if you live there all your life. Most people move more than once though. Especially those who bought in a celtic tiger panic just to get on the ladder with the intention to upgrade when the family got bigger or the value went up etc. A relative of mine is stuck in a dogbox she overpaid for when she first married. Chilod number 2 is due soon. I dont think she envisaged rearing two children in a 2 bed, 5th floor apartment in an unfinished complex. Not everyone buys their dream home first time.

awec · 18-02-2014 02:35PM

average_runner wrote: »

But your always paying over the odds for renting as you end up with nothing.

You have somewhere to live without the worry that you are paying 400,000 for something worth 200,000.

This is like arguing that someone shouldn't lease a car but rather pay 10,000 euro for one worth 5,000 euro because while they may as well flush that extra 5,000 euro down the toilet they'll own a 5,000 euro car at the end of it.

When you are renting you at least have options open to you. When you are in negative equity your options are very limited because you are financially screwed.

OldNotWIse · 18-02-2014 02:36PM

average_runner wrote: »

But your always paying over the odds for renting as you end up with nothing.

You're paying for a service ie; somewhere to live. Not everything has to be an investment.

Alf Veedersane · 18-02-2014 02:37PM

average_runner wrote: »

But your always paying over the odds for renting as you end up with nothing.

Having nothing tangible after spending money isn't the same thing as having nothing.

If I got public transport all my life I wouldn't consider it money that was wasted when I could have had a car.

awec · 18-02-2014 02:38PM

OldNotWIse wrote: »

Again, I know. Its not an issue if you live there all your life. Most people move more than once though. Especially those who bought in a celtic tiger panic just to get on the ladder with the intention to upgrade when the family got bigger or the value went up etc. A relative of mine is stuck in a dogbox she overpaid for when she first married. Chilod number 2 is due soon. I dont think she envisaged rearing two children in a 2 bed, 5th floor apartment in an unfinished complex. Not everyone buys their dream home first time.

I'm willing to bet that this person would much rather be in the scenario that they are renting their apartment rather than owning it.

average_runner · 18-02-2014 02:40PM

OldNotWIse wrote: »

Again, I know. Its not an issue if you live there all your life. Most people move more than once though. Especially those who bought in a celtic tiger panic just to get on the ladder with the intention to upgrade when the family got bigger or the value went up etc. A relative of mine is stuck in a dogbox she overpaid for when she first married. Chilod number 2 is due soon. I dont think she envisaged rearing two children in a 2 bed, 5th floor apartment in an unfinished complex. Not everyone buys their dream home first time.

I agree with with you there, but I didnt buy my dream home first time either. What I did do was my homework. I bought a two bed house where I knew i could raise a family if i couldnt afford to move.

The problem in the celtic tiger panic was, people didnt think much about the future.
I hope we learn from this, but i fear we wont as the same mistakes are starting again.

Inspector Coptoor · 18-02-2014 02:42PM

average_runner wrote: »

But your always paying over the odds for renting as you end up with nothing.

Also what i paid in rent for city centre 15 years has double since. Yes wages will go up but the cost of the mortgage will not double.

To address your earlier point about range, my OH has to be within 15-20 min distance of workplace when the call comes in

I'm paying considerably under the odds at present.

House ownership would be nice, but I don't WANT to live in Lucan or somewhere else that would cost €50 to get a taxi home after a night out.

Inspector Coptoor · 18-02-2014 02:42PM

average_runner wrote: »

I agree with with you there, but I didnt buy my dream home first time either. What I did do was my homework. I bought a two bed house where I knew i could raise a family if i couldnt afford to move.

The problem in the celtic tiger panic was, people didnt think much about the future.
I hope we learn from this, but i fear we wont as the same mistakes are starting again.

This is a great point, which is why I'm so cautious about buying in the next 12-24 months

average_runner · 18-02-2014 02:45PM

Inspector Coptoor wrote: »

To address your earlier point about range, my OH has to be within 15-20 min distance of workplace when the call comes in

I'm paying considerably under the odds at present.

House ownership would be nice, but I don't WANT to live in Lucan or somewhere else that would cost €50 to get a taxi home after a night out.

its not 50 euro for a taxi either its 27 euro. And blackrock wont be far off 20 euro in a fare!

But if you go down the route of having a family, you won't have to worry about nights out and when you do get a night out, it be such an odd thing, the cost of a taxi won't be a issue.

OldNotWIse · 18-02-2014 02:45PM

average_runner wrote: »

I agree with with you there, but I didnt buy my dream home first time either. What I did do was my homework. I bought a two bed house where I knew i could raise a family if i couldnt afford to move.

The problem in the celtic tiger panic was, people didnt think much about the future.
I hope we learn from this, but i fear we wont as the same mistakes are starting again.

I think it was more to to with the belief that a house bought for 400k on Monday would be worth 800k on Friday

Ridiculous times tbh and I dont think people are to blame. (Although my sympathy only extends to those who bought family homes. No way does it cover buy to lets). Remember the special savings?? Pure madness. They were practically throwing money at people. I even remember being given a credit card while still in college, with no income and a 2k limit, that I had applied for to see what happens! I suppose it was easy to get swept up in the whole thing. Had I graduated a little earlier, I too may have bought.

Inspector Coptoor · 18-02-2014 02:46PM

Yet another reason not to have kids!

average_runner · 18-02-2014 02:47PM

Inspector Coptoor wrote: »

This is a great point, which is why I'm so cautious about buying in the next 12-24 months

I wish you all the best, its a hard one to call, but I hope the prices crash for ye so you get the place you need.

JohnMearsheimer · 18-02-2014 02:48PM

I was offered a job in Dublin last month so I went on Daft to have a look around. I was shocked at how much the rents were. I last lived in Dublin in 2008 and I was paying €400 a month for a double room, including bills. I was hoping to find something around that but not a hope. I saw some single rooms going for €450. I was really out of touch with the Dublin rental market.

I was living and working in Galway last year and I was only paying €285 for a double room with the main bathroom of the house to myself. Internet, tv and bins were included in the €285. My girlfriend pays €280 for a double en-suite room in Limerick. I realise you're going to pay more anyway because it's Dublin but the disparity between Dublin and the rest of the country seems so big. I got a job in Cork since anyway so I'll just stay at home. I'd rather give my parents money to help with the bills than pay some stranger's mortgage.

average_runner · 18-02-2014 02:49PM

OldNotWIse wrote: »

I think it was more to to with the belief that a house bought 400k on Monday would be worth 8ook on Friday Ridiculous times tbh and I dont think people are to blame. (Although my sympathy only extends to those who bought family homes. No way does it cover buy to lets). Remember the special savings?? Pure madness. They were practically throwing money at people. I even remember being given a credit card while still in college, with no income and a 2k limit, that I had applied for to see what happens! I suppose it was easy to get swept up in the whole thing. Had I graduated a little earlier, I too may have bought.

Stupid money it was, we were offered a mortgage 2.5 times the amount we took out. It would of left us with feck all each month! Pure madness.

Alf Veedersane · 18-02-2014 02:50PM

average_runner wrote: »

The problem in the celtic tiger panic was, people didnt think much about the future.

To be honest, I don't think they even thought about the present and what kind of mortgage they could afford without spending one week of every four living on bread and water.

syklops · 18-02-2014 02:59PM

I've been saying this for weeks and people were laughing at me in the accomodation and rental forum. Serious shortage of quality properties in Dublin, and the price even of hovels has gone up seemingly exponentially. I saw a bedsit in Rathmines for 900 a month.

Went to see an apartment a few weeks back. Ad went up at 9am, went to see it at 13.30 with 9 other people, all of whom wanted it. Wasn't cheap either.

Moving into the new place tonight. At 1200 a month also not cheap, but its a nice enough place very close to the luas. Only took 3 months to find it.

Daith · 18-02-2014 03:02PM

Yup it's insane especially given the standard of some of the accommodation.

I am considering moving back in with the folks for a year to save more money for a deposit to buy.

o1s1n · 18-02-2014 03:04PM

Alf Veedersane wrote: »

Having nothing tangible after spending money isn't the same thing as having nothing.

If I got public transport all my life I wouldn't consider it money that was wasted when I could have had a car.

I get what you're saying, but still there's a difference when it comes to a home.

You don't need a car, and being left without one after renting isn't going to be the same as being left without a home after renting.

You'll still need to find another home. (you won't necessary need to find a car)

Rent prices

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