Will you buy a place of your own?

Rhea Rose · 18-02-2016 08:39PM

corner of hells wrote: »

I'm not , its an observation.

Like I said I agree with you about Germany but its worth Googling to get an idea about the rest of Europe.

Yes, you said that. And I informed you that my comment is based on my own experience. So, I have no need to Google it.

corner of hells · 18-02-2016 08:40PM

Rhea Rose wrote: »

Yes, you said that. And I informed you that my comment is based on my own experience. So, I have no need to Google it.

No problem.

Buona Fortuna · 18-02-2016 08:42PM

Are you two going to rent to start with or buy a place together?:pac:

Elessar · 18-02-2016 08:42PM

No, at least no intention to. I'm an only child and the family home will pass to me, but I guess I'm lucky in that regard.

corner of hells · 18-02-2016 08:43PM

Buona Fortuna wrote: »

Are you two going to rent to start with or buy a place together?:pac:

We're going traveling first , to see how we get on.

PandaPoo · 18-02-2016 08:46PM

Bought a house two years ago, looking to convert the attic and stick an extension on it...been saying that for two years. Probably be easier just to move

I do love having my own house though, being able to put nails in the walls, repaint it, change the furniture etc

spakman · 18-02-2016 08:46PM

VisibleGorilla wrote: »

Yes, not in Ireland though.

Bought in 2014 before prices took off again, and before the new mortgage rules. Consider myself very lucky.

john the one · 18-02-2016 08:50PM

magicmushroom wrote: »

I rent already, so I am already paying out more than the cost of a mortgage each month.
I do save around €200 a month but even though I could prove to the banks I can comfortably afford a mortgage, have never been a day late on payments for my rent once in the past 3.5 years and that I also have the ability to save - it's not enough to get a mortgage!

Who says? If you can show you are paying rent plus saving and have your deposit down, you shouldnt have an issue getting a mortgage.

Rhea Rose · 18-02-2016 08:54PM

corner of hells wrote: »

We're going traveling first , to see how we get on.

Ah fcuk, I was in in a bit of a mood this evening (ill)- but this has cracked me up:pac:

osarusan · 18-02-2016 08:54PM

We own a property in Japan.

Once my job situation sorts itself out and we know we will be staying in one place, we will look to buy a home.

RobertKK · 18-02-2016 08:55PM

I will have owned my house for 20 years in October this year, I was given the house when I was 20 along with the farm.

corner of hells · 18-02-2016 08:57PM

Rhea Rose wrote: »

Ah fcuk, I was in in a bit of a mood this evening (ill)- but this has cracked me up:pac:

Terrible annoying fcukers round here .

john the one · 18-02-2016 08:57PM

Buying a house in the next few weeks, by myself. It was stressful and i'm still not out of the woods but in a few weeks i will have high speed broadband and a bathroom i can leave the door open in when i'm using it.

I also plan on having a wooden mug to drink my beer from like the dwarves in LOTR. The simple things.

corner of hells · 18-02-2016 08:59PM

osarusan wrote: »

We own a property in Japan.

Once my job situation sorts itself out and we know we will be staying in one place, we will look to buy a home.

I own a bit, of field in Roscommon , at the moment I use a small boat to cross it.

Skatedude · 18-02-2016 09:08PM

With the 3.5 times your salary rule on mortgages,as I'm single thats 100k for me , which is pretty much useless for Dublin.

Only option is way out in the middle of nowhere really. All my friends and family where living here for 3 generations and now priced out of the market.

PARlance · 18-02-2016 09:10PM

Bought a house in Dublin (with the gf at the time, now wife) 8 years ago. It was just at the start of the crash, we didn't need a deposit and were both in good jobs. Trackers were being phased out so we took the one we had been offered.

We moved out of a two bed house that we were renting and took on a mortgage. We were paying the same on the mortgage as we had been paying on rent from the start. We've just moved down West and have rented the house out, we're clearing the mortgage and a little bit to cover any taxes, maintenance. 22 years left on the mortgage and the hope is that it will continue to do that. Interest rates are not a major worry at present but by the time they start to rise again we'll be in a position that the capital will be well eroded. The house will be paid off when I'm 55 and it'll be a nice pension for us to add to the pot.

We've decided to rent for the next 2-3 years. I'm not one of these that see it as wasted money. It serves a purpose. We're getting twice the house for half what we were paying on the mortgage down here so we'll save the difference until we decide to buy or build.

I don't get the "crippling" arguments at all. Buy within your means and you won't be crippled. It is getting harder to get on the ladder with the deposits sought but I think that's prudent.

I don't see the ownership culture changing. We're not an anomaly with that culture. I do think it's important to get on the ladder as soon as possible. Renting is fine but I don't fancy renting in my retirement with no income. The anti-buyers rarely look that far ahead.

I don't want my accommodation to be a drain on me in retirement, I don't fancy the potential of landlords making house moves a possibility in my 50's, 60's etc.

Get on the ladder as soon as possible and don't go nuts is my view.

Alf Veedersane · 18-02-2016 09:13PM

Rhea Rose wrote: »

This Irish thing about 'having to' buy a house is something that's always made me feel incredibly un-Irish. I just don't get it. If I rent, I can live where I want and move when I choose. I love having that freedom and I'd be slow to give it up.

If I buy a house, I'll be tied down with a mortgage for 40 odd years and won't own the place til I'm about to kick the bucket anyway. Why? I mean, what's the point? I'm almost 30 now and people often assume I'm 'saving for a mortgage deposit'. Eh no, I'm too busy saving for my next adventure!

At the moment, I rent my own place in Dublin and I work from home (or anywhere), so it's the perfect set-up for me. I'll move again in the future, either to a new place here or a new country, and I still have that option. I want to have that option.

Then again, if I was minted I'd just buy a gaff in every country in the world and I'd be sorted

There's a lack of longer-term security renting in Ireland. Two places I really liked living in and where we got on with the landlord, we ended up having to leave because the landlord wanted to sell or wanted to move in family coming home.

If you're secure in the knowledge that you will be able to stay in a place you like for minimum five years, you're more likely to do things like paint rooms etc.

If there was more security as in Germany and, I'm not sure on this but maybe France, then people here might have a different outlook on renting.

18-02-2016 09:23PM

I always said I would never buy but as I get older (into my late 20's..whoa!) I can see myself buying in a few years. The rental situation in Cork is shocking. Very expensive and most rental houses are not in great condition, and that's if you can find a house to rent! Luckily we are renting a nice enough house but it does have its problems.

Will be hard to save for a deposit but luckily I have an alright paying job. Just need to save more. Most of my friends that bought houses received "gifts" from their families to put towards the cost of buying a house. Unfortunately myself and my OH won't be getting any of that, so will need to pay for everything ourselves. Better get saving fast!

RayM · 18-02-2016 10:43PM

If I was prepared to move to Leitrim or somewhere, I could afford to buy something quite nice without a mortgage, right now... and then maybe eventually save enough to move to somewhere that isn't Leitrim. Mortgages scare the shit out of me. As does long-term renting.

Inspector Coptoor · 18-02-2016 10:50PM

Have gone sale agreed on a place in South County Dublin.

Hope to get the keys in the next two weeks.

End of terrace 4 bed for €430k.

Saved like a man possessed the last few years with my wife and we're ready to buy.

20% deposit saved and affordable mortgage repayments.

Looking forward to moving out of our poky one bed apt after nearly 6 years

Electric Sheep · 19-02-2016 05:34AM

Maurice Abundant Jockey wrote: »

Things are back to how they were decades ago. In my day a single person could rarely afford to buy. It took two incomes to qualify for a mortgage of 80% and one of those incomes went fully to paying the mortgage. We build our home when we married and wouldn't have it any other way than to own our own house.

Indeed. It used be be two people living with their respective parents, saving every penny for 3-4 years to get together a deposit and pay for the wedding. Maybe one or both going to work in Tripoli or Australia for a couple of years. Does anyone remember the Marriage Grat, and how that was a large part of the equation for a lot of people?

Apart from the Credit Bubble, it was never easy to buy a house in Ireland, apart from for a privileged few.

Graces7 · 19-02-2016 07:44AM

Alf Veedersane wrote: »

There's a lack of longer-term security renting in Ireland. Two places I really liked living in and where we got on with the landlord, we ended up having to leave because the landlord wanted to sell or wanted to move in family coming home.

If you're secure in the knowledge that you will be able to stay in a place you like for minimum five years, you're more likely to do things like paint rooms etc.

If there was more security as in Germany and, I'm not sure on this but maybe France, then people here might have a different outlook on renting.

Some excellent points here. Many of us though have no choices. There has never been a time in my own life when I could have saved for a house as I have chronic illness and now a pensioner. I did get into home ownership from a legacy but abandoned it after 20 years both because of a major life style change which impacted on the fact that ordinary maintenance was impossible for me. A I need Rent Allowance I have always been at the lower end of the rental market and have lived in some difficult places. That is not a complaint simply a fact. I have simple needs and thankful to have a roof over my head. Been here 4 years and yes, landlord making vague noises re selling OR moving his family in here. Many here speak re " choices" and that is fine too. At my advanced age I am not looking too many years ahead now..The rental market here has changed in the years I have been here and not for the better.

19-02-2016 07:51AM

I'm 30 now, between myself and herself we could probably pay a reasonable amount monthly for the mortgage, but we're absolutely miles away from securing a mortgage because we can't even nearly afford the deposit.

19-02-2016 03:24PM

Not in the foreseeable future.. I've no idea where I'll be in two years, never mind five or ten and I'd only buy in Ireland or a country I had rock solid plans to stay in.

If I ever actually buy, I'd probably want at least half of it paid up front.

19-02-2016 03:34PM

Absolutely, renting is a temporary solution and a total waste of money done long term. I can't even bring myself to pay the full rent for a place so will share until I buy.

steddyeddy · 19-02-2016 03:51PM

I'll buy outright. Non of this mortgage crap.

Potential-Monke · 19-02-2016 03:53PM

I'm on the opposite side to most people. I bought in 2009, with everyone telling me that a house is the way to go, renting is dead money, etc. Now, i had been renting apartments for myself for years, and loved every minute of it. I do like my own place.

However, if i could turn back time, i woulnd't have bought. I'm single (at the time in a relationship, but there was no co-buying, we lived in different counties). I really shouldn't have got the mortgage, i had no savings, no record of savings, had a massive loan already, but because i was public service i got a mortgage.

And then the recession really kicked in and i'm down €100+ a week. Suddenly, i can still afford everything, until something goes wrong. I worked it out, after paying for everything, i've €20 a week to "save". But then a situation occurs, like just after new years, where i blacked out (nothing taken to help this, just simple lost consciousness) and broke a tooth. €800 later and my gob is grand, but i'm behind on the mortgage and a couple of loans.

So, anyone thinking of buying a house, make sure you have at least €400 a month you can still put away. Houses are expensive to upkeep. You have to rely on yourself to fix things when something goes wrong. And i personally woulnd't recommend it. The plus to renting is you can up and leave whenever you want. With a mortgage, you're stuck in the one place for 20+ years. I will certainly be looking to sell as soon as possible, but i've to wait another few years before i can break even at least. And i'm gone the second i can break even. I don't want a profit, i just want to get out of here.

cherryghost · 19-02-2016 03:58PM

Spent x amount of years in an apartment, I bought a house in SW Dublin just before Christmas. I just got the point that
a) We had too much stuff for a 1 bedroom apartment
b) Rent was more expensive than house mortgage monthly
c) Wanted a garden

Best decision ever. I feel so out of place in a large house though

leahyl · 19-02-2016 04:07PM

magicmushroom wrote: »

I would love to buy somewhere of my own but sadly, as a singleton with very modest savings, it's impossible.

I rent already, so I am already paying out more than the cost of a mortgage each month.
I do save around €200 a month but even though I could prove to the banks I can comfortably afford a mortgage, have never been a day late on payments for my rent once in the past 3.5 years and that I also have the ability to save - it's not enough to get a mortgage!

Hopefully one day, but it's not in my immediate future.

I would have quite a bit saved but still doesn't make it any easier to buy! The supply isn't there basically and anything half decent that does come on the market, everyone out there wants it so it drives the price way over asking. Frustrating in the extreme

lertsnim · 19-02-2016 05:10PM

I have no plans to ever own a house.

Will you buy a place of your own?

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