How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

Little Less Conversation · 10-02-2019 6:52pm #1

I wasn't thinking of the future in my 20s, I was useless at saving and who wants a life long commitment in your 20s. The recession hit in my late 20s and I gave up work to go back to college. Then I spent some time unemployed. I eventually got some work but the pay was horrible. I'm upskilling again because a change in jobs wouldn't have done it.

Just how do people do it. I'm a long way off from getting any kind of a deposit together and even if I can get something, I don't think a bank would even look at me.

I'd be quite happy in a mobile home except you need planning permission for that and the only way you would get granted planning permission for a mobile home is if it's part of a new build and it's used as temporary accommodation.

How are we meant to get our own place?

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Dakotabigone · 10-02-2019 6:58pm

A little more action maybe.

Poor Uncle Tom · 10-02-2019 6:59pm

I'm sorry but that just reads like excuses. You know that to qualify for a mortgage you need savings and probably from both applicants, there is no way around it, 100% mortgages are not sustainable, try your local authority get some ideas from them about a starter home, you may also qualify for the Help to Buy scheme.

judeboy101 · 10-02-2019 7:00pm

Marry a farmers son or daughter

Tuco88 · 10-02-2019 7:07pm

Id say joint mortgage is the only hope.

But eh... feck thats another can of worms ðŸ€£

Fiftyfilthy · 10-02-2019 7:35pm

Can be done

I’m a lone parent, work full time and secured a mortgage and sale agreed on an apartment

astrofool · 10-02-2019 7:35pm

Work hard for a few years, save as much as you can, try and get to the average salary, have a partner who also works, then it all becomes manageable.

Don't have a career, can't save, and plan to stay alone, then shared rent or live with parents.

Atlantic Dawn · 10-02-2019 7:39pm

The bigger question is who the feck will be left to pay the far too generous state pensions when normal working people can't afford to live and breed in the country.

Alkers · 10-02-2019 8:02pm

Lived in shared accommodation for a few years while saving a deposit, it's a lot cheaper than trying to rent a house just for yourself and partner. Dave a fixed amount every month, starting small when we weren't really planning anything and then when we had a plan we put everything we had into savings for about 18 monts
Bought when we were 30 & 31.

MSVforever · 10-02-2019 8:03pm

It's possible. You’ll be surprised how much you can save. Obviously it depends on your circumstances.

Are you living in Dublin? Do you live at home with your parents or do you have your own place?

What is your current rent?

What is your net salary?

You can save a lot of money by doing the following:

1. Bring your lunch to work
2. Bring your own coffee to work
3. Don't get takeaways and don't go to restaurants
4. If you drink then don't go to pubs
Have a few drinks at home instead.
5. Quit smoking if applicable.
6. If you live close enough to work then either get a taxsaver ticket or a bicycle
7. Get rid of the car if applicable.
8. Get rid of bill pay phone - pre pay instead
9. Quit gym and workout outdoors instead
10. Go on cheap holidays i.e. camping, air b&b, couch surfing etc
11. Team up with a girlfriend / boyfriend so you can save more and cut utility bills etc

Be frugal for a couple of years and you'll have a deposit in no time.

[Deleted User] · 10-02-2019 8:08pm

Single and in Dublin? Good luck. Other than those 2 things it's doable.

Jack0125 · 10-02-2019 8:16pm

A secondary school teacher said to the wood work class one day...you need to be saving a quarter of your net pay from your first job onwards

Its a good mantra...save from 23 to 30 years 5k a year. 40k deposit.

Cant arrive at 30 with no savings in the bank.

Jack0125 · 10-02-2019 8:16pm

A secondary school teacher said to the wood work class one day...you need to be saving a quarter of your net pay from your first job onwards

Its a good mantra...save from 23 to 30 years 5k a year. 40k deposit.

Cant arrive at 30 with no savings in the bank.

abcabc123123 · 10-02-2019 8:37pm

Buy an apartment, save for a couple of years and trade up?

Moonbeam · 10-02-2019 8:44pm

I took on a 2nd job first in night clubs then doing gig and hotel security,brought my lunch to work every day and lived in shared accomodation.(2005).
I did not have much of a social life and my house is not in my ideal location but it is a nice house and on a train line.
Later on met someone so we bought a bigger place in an area we really liked.

12gauge dave · 10-02-2019 8:45pm

That is what your 20's are for enjoying yourself:)
Dont panic just start saving what you can for 3 years amd see how you are then.
Dont be in a panic to commit yourself to a mortgage its not all its cracked up to be being a homeowner.

10-02-2019 8:47pm

Moved home and cut down on going out every weekend....saved religiously for the past two years and just about to close sale on house.

Nomis21 · 10-02-2019 8:52pm

I came to Ireland 12 years ago at the age of 53 with nothing. I still have nothing but I have had a good time.

You can't take it with you so just enjoy your life and stop getting fixated on house purchasing and a mortgage which will be a ball and chain round your neck for 25 years.

Kidkinobe · 10-02-2019 8:53pm

Jack0125 wrote: »

A secondary school teacher said to the wood work class one day...you need to be saving a quarter of your net pay from your first job onwards

Its a good mantra...save from 23 to 30 years 5k a year. 40k deposit.

Cant arrive at 30 with no savings in the bank.

15 years ago I worked 60 hours a week for 4 months flat and had a 10% deposit for a house within that 4 months. I was mid 30s married with two kids..If I done the same 4 month stint today, under the same conditions and allowing for inflation and house prices, my savings would only amount to 2.5% of the deposit.
Its so much more difficult today and you suggest saving from 23 to 30,that is 7 years of house price inflation, by historical stats, in that 7 years of saving, house prices would have gone up 75%, meaning they need to save near 70k in that 7 years to keep up with inflation/house prices. Count in a child two on the way and its next to impossible to get a home on the current median Irish wage without help from the bank of mum and dad, taking into a account the rule of 3.5 times income for a mortgage.

spurshero · 10-02-2019 8:56pm

MSVforever wrote: »

It's possible. You’ll be surprised how much you can save. Obviously it depends on your circumstances.

Are you living in Dublin? Do you live at home with your parents or do you have your own place?

What is your current rent?

What is your net salary?

You can save a lot of money by doing the following:

1. Bring your lunch to work
2. Bring your own coffee to work
3. Don't get takeaways and don't go to restaurants
4. If you drink then don't go to pubs
Have a few drinks at home instead.
5. Quit smoking if applicable.
6. If you live close enough to work then either get a taxsaver ticket or a bicycle
7. Get rid of the car if applicable.
8. Get rid of bill pay phone - pre pay instead
9. Quit gym and workout outdoors instead
10. Go on cheap holidays i.e. camping, air b&b, couch surfing etc
11. Team up with a girlfriend / boyfriend so you can save more and cut utility bills etc

Be frugal for a couple of years and you'll have a deposit in no time.

Jesus ya may as well be dead ....

bucketybuck · 10-02-2019 9:01pm

Basically the take away from this thread is that if you want to buy a house you need to make it your entire life's focus, give up everything that costs money, work every waking hour and then eventually in the next decade you will have a deposit and can start looking at houses. Though you won't get your dream house, it'll be some apartment or crappy starter home.

Wonderful.

Kidkinobe · 10-02-2019 9:05pm

bucketybuck wrote: »

Basically the take away from this thread is that if you want to buy a house you need to make it your entire life's focus, give up everything that costs money, work every waking hour and then eventually in the next decade you will have a deposit and can start looking at houses. Though you won't get your dream house, it'll be some apartment or crappy starter home.

Wonderful.

Its not really a lottery if you want a place to call your home...the alternative is renting for the rest of your life...Which a few might say they are content with, but in reality, given the chance, Im sure all of them would say that they would love their own bit of turf.

Eric Cartman · 10-02-2019 9:06pm

spurshero wrote: »

Jesus ya may as well be dead ....

and by christ if youre single youre fooked, most of the advice is stay indoors and do nothing and you'd have 0 chance to go out and meet someone , that and having to save twice as hard for the deposit.

the real lesson here is, if youre single, live places that houses cost 100k or under or wait until youre with somebody and the two of you can isolate yourselves completely from the outside world for 6 months-a year in order to just about to afford to live within 1.5 hours rush hour commute of a city.

Yaaaaaayy......

muddle84 · 10-02-2019 9:14pm

Bottom line, you will not get a mortgage without savings so just forget about it until you have savings. All the posts about dramatic changes in lifestyle will only work if you're happy to do that. Budget your wages, if you like a pint or whatever, allow for it in your budget and set a savings Target and stick to it. If you can only save 5k a year or 2k a year so be it go with that and if you get a raise or more money save more. You can still get a mortgage in your 40's so don't be daft regretting anything you done in your 20's and get on with it.

Ursus Horribilis · 10-02-2019 9:20pm

I bought a house when I was single but the saving grace was living outside Dublin. I got the deposit together by living in a house share. Not where I wanted to be after having split from my ex and having had to start again... I'd still be in renting hell if I lived in Dublin and I've a good job. Our capital city is a cold place for anybody single or not on a very good wage.

divillybit · 10-02-2019 9:24pm

I read a book called Irelands House Party by Derek Brawn back in 2008... I was 22 at the time, just started my first job... it focused my mind on saving for a house... I wont get into my circumstances but i had my house paid off when I was 31.. a few things worked in my favour, the main one was not living in Dublin for work.but being in the midlands... cost of living in Dublin is the killer

Wildly Boaring · 10-02-2019 9:37pm

Mid thirties and happily living in a 3 bed bungalow easily commutable from cork or limerick.

It was said earlier but save a bit every year from as early as possible.

I worked through college and managed to graduate at break even..

Straight away (ie during finals) I was driving tractors and milking for a neighbour.

Full time job after that harvest and full time employed since.

Enjoyed my 20s moving about, working and socialising in different spots most years. I've never brought a packed lunch to work and I've spent silly money on cars at different times.

But I always saved a bit. 3 or 4k year 1, repeat, repeat, repeat. My now wife did the same.
That's about 300 a month saved.

After 10 years at 3k a year you'd have 30k. 2 people doing the same have 60k.

As we earned more we saved more. Over 100k saved when we bought, 10 years after I left college.

Eric Cartman · 10-02-2019 9:51pm

divillybit wrote: »

I read a book called Irelands House Party by Derek Brawn back in 2008... I was 22 at the time, just started my first job... it focused my mind on saving for a house... I wont get into my circumstances but i had my house paid off when I was 31.. a few things worked in my favour, the main one was not living in Dublin for work.but being in the midlands... cost of living in Dublin is the killer

See thats where its possible, Ive met a fair few lads on the 'morgage will be paid off before 35' bandwaggon, the one thing in common with all is the house was under 150k,

15k in savings and a 35-40k a year job in the midlands, or outside a city where a pint is still under a 5er and you can live in a house share for 300 a month while saving is very easily doable.

Theres a lot to be said for it, there are many now in dublin on 50-60k , which is solid money who because of splitting a 2 bed apartment for 800 each a month and paying through the nose for everything would struggle to save that 15k for a midlands house, let alone the average of 300k dublin is now commanding.

Colonel Claptrap · 10-02-2019 9:53pm

spurshero wrote: »

Jesus ya may as well be dead ....

I don't think there's anything unreasonable in that list.

Owning a house is not for everybody. Some people are woeful at budgeting, and live pay cheque to pay cheque. Regardless of salary, these people should not be taking out loans. Especially a mortgage.

A friend of mine decided to start saving for a deposit just before christmas. Now it's February and she regularly gets a taxi to work if it's raining, buys her lunch every single day, and in January alone - joined a gym, a separate pilates class, and signed up for a weekly frozen health food delivery service.

She's far too impulsive, and unsurprisingly owes even more on her credit card, and put no money aside for savings.

She cribs and moans about the housing crises and how unfair it is for people like her in their 30's.

listermint · 10-02-2019 9:55pm

Eric Cartman wrote: »

and by christ if youre single youre fooked, most of the advice is stay indoors and do nothing and you'd have 0 chance to go out and meet someone , that and having to save twice as hard for the deposit.

the real lesson here is, if youre single, live places that houses cost 100k or under or wait until youre with somebody and the two of you can isolate yourselves completely from the outside world for 6 months-a year in order to just about to afford to live within 1.5 hours rush hour commute of a city.

Yaaaaaayy......

Most people meet other people through jobs and work.

So errrr no your assertion isn't really accurate.

Yaaaay .

More chance of meeting someone from working

MSVforever · 10-02-2019 10:13pm

spurshero wrote: »

Jesus ya may as well be dead ....

You don't have to do all of this but unless you earn a decent salary you can't have it both ways (speaking from experience ).

Similar to the OP I had zero interest in owning a property in my twentieth. It was all about going to uni, working part time, travelling and getting wasted etc

Once you meet your other half and start having a family your priorities change drastically.

If you live frugal for 3-5 years you still have enough time to enjoy yourself

How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

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