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28-10-2020, 12:49   #46
brisan
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Yeah but your house today has a lot more in it than a house in the 80's. People moved into their houses in the 1980's and did up one room at a time over a few years.



And what of the cost of servicing that mortgage?





The average person should surely be able to save 100k by their 30th birthday should they not? With a bit of effort? No? A couple looking to buy a house at age 30 could have 150k saved between them? Unrealistic or not? Would be less than 200 quid a week to put away.


Edit: Assuming they go to college and start work at 22.
Would they still be able to go out out or would they be restricted to just going out
Would pre drinks be affordable and what about Prosecco with brunch
Too many imponderables
They would need to take a year out to find themselves
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28-10-2020, 12:49   #47
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People who still have their communion money maybe, not your average 30 year old.
Difference in being able and being willing
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28-10-2020, 13:26   #48
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I would disagree with that. I know plenty of people in their early 30s who would have more than 100k in savings. Some of course is via inheritance but mostly though saving hard. A person on 80k plus (which is average enough in Dublin) should be able to save this with a bit of disciplince
Ha HA
And I am on 80k plus but its no where near average
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29-10-2020, 08:34   #49
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Originally Posted by Donald Trump View Post
The average person should surely be able to save 100k by their 30th birthday should they not? With a bit of effort? No? A couple looking to buy a house at age 30 could have 150k saved between them? Unrealistic or not? Would be less than 200 quid a week to put away.


Edit: Assuming they go to college and start work at 22.
Do people on here actually believe that it's easy for someone to save 100k by the time they're 30?

Median gross income in Ireland is only around 35k a year. According to PWCs income tax calculator that gives you about 560 a week net.

Assuming you started saving at 22, in order to save 100k by the time they're 30 you actually need to save 240 euro a week, not 200. Say 250 a week for rent (assuming you don't mind living in a house share when you're 30), that would leave you a grand total of 70 quid a week for bills, food, transport costs and any discretionary spending. So yeah, if you graduated college at 22, walked into a job paying a median salary the minute you graduated, and lived like a hermit for 8 years you might just about save 100k. Good luck ever going on holiday, buying a car etc. though.

Of course though the idea that the average person graduates college at 22 and walks into a well paying job is a fantasy. Only half of the 25-34 age group are college graduates and by definition half of the workers in the country are earning below the median salary with newer entrants into the labour force over-represented in lower income brackets.

Me personally I graduated college in 2009, at the age of 23 with a STEM degree. I spent 6 months trying to find ANY job, without success before I gave up and decided to go back and do a masters. I graduated from my masters in 2011 at the age of 25, about 20 grand in debt, and despite finishing top of my class it still took me 6 months to get a job. I got my first real job at 26, and it wasn't until I was 28 that I had payed off my college debt. And I was one of the lucky ones, most of my friends from school and college still aren't making decent money.

EDIT: While overall median weekly wage is 560 a week, median wage for the 25-29 age group is actually only 470 according to the CSO. Totally realistic for the average person to save over half their income for 8 years in order to save for a house deposit.

Last edited by IAmTheReign; 29-10-2020 at 10:44.
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29-10-2020, 12:56   #50
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Originally Posted by IAmTheReign View Post
Do people on here actually believe that it's easy for someone to save 100k by the time they're 30?

Median gross income in Ireland is only around 35k a year. According to PWCs income tax calculator that gives you about 560 a week net.

Assuming you started saving at 22, in order to save 100k by the time they're 30 you actually need to save 240 euro a week, not 200. Say 250 a week for rent (assuming you don't mind living in a house share when you're 30), that would leave you a grand total of 70 quid a week for bills, food, transport costs and any discretionary spending. So yeah, if you graduated college at 22, walked into a job paying a median salary the minute you graduated, and lived like a hermit for 8 years you might just about save 100k. Good luck ever going on holiday, buying a car etc. though.

Of course though the idea that the average person graduates college at 22 and walks into a well paying job is a fantasy. Only half of the 25-34 age group are college graduates and by definition half of the workers in the country are earning below the median salary with newer entrants into the labour force over-represented in lower income brackets.

Me personally I graduated college in 2009, at the age of 23 with a STEM degree. I spent 6 months trying to find ANY job, without success before I gave up and decided to go back and do a masters. I graduated from my masters in 2011 at the age of 25, about 20 grand in debt, and despite finishing top of my class it still took me 6 months to get a job. I got my first real job at 26, and it wasn't until I was 28 that I had payed off my college debt. And I was one of the lucky ones, most of my friends from school and college still aren't making decent money.

EDIT: While overall median weekly wage is 560 a week, median wage for the 25-29 age group is actually only 470 according to the CSO. Totally realistic for the average person to save over half their income for 8 years in order to save for a house deposit.
You can expect the details of this to be ignored by the posters in question who will inform you they in fact saved 117% of their income between 22-30 whilst getting out of bed before they got into it as they had to find time to work 4 jobs.

The fact that house price were half the multiple of average earnings at the time will not be mentioned.
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29-10-2020, 13:24   #51
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Originally Posted by Dwarf.Shortage View Post
You can expect the details of this to be ignored by the posters in question who will inform you they in fact saved 117% of their income between 22-30 whilst getting out of bed before they got into it as they had to find time to work 4 jobs.

The fact that house price were half the multiple of average earnings at the time will not be mentioned.
The asking price of houses outside Dublin is 64% lower than in Dublin. If I were a median or lower wage earner in Dublin and wanted to buy, rather than rent my entire life, I would be thinking about moving to somewhere where housing was cheaper.
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29-10-2020, 13:28   #52
Dwarf.Shortage
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The asking price of houses outside Dublin is 64% lower than in Dublin. If I were a median or lower wage earner in Dublin and wanted to buy, rather than rent my entire life, I would be thinking about moving to somewhere where housing was cheaper.
Yeah it's the only solution for a lot of people, it's not much good to people who absolutely have to be in Dublin for work but those people are more likely to be above average earners tbf.
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29-10-2020, 13:50   #53
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https://www.myhome.ie/residential/br...lin-15/4355868

That is a new apartment in Dublin for 205K.

I am not saying it is for everybody.
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29-10-2020, 13:55   #54
Dwarf.Shortage
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Originally Posted by mariaalice View Post
https://www.myhome.ie/residential/br...lin-15/4355868

That is a new apartment in Dublin for 205K.

I am not saying it is for everybody.
That's is a one bed apartment in Meath

I don't mean that figuratively, click into the map view of the actual ad.
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29-10-2020, 14:02   #55
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Originally Posted by IAmTheReign View Post
Do people on here actually believe that it's easy for someone to save 100k by the time they're 30?

Median gross income in Ireland is only around 35k a year. According to PWCs income tax calculator that gives you about 560 a week net.

Assuming you started saving at 22, in order to save 100k by the time they're 30 you actually need to save 240 euro a week, not 200. Say 250 a week for rent (assuming you don't mind living in a house share when you're 30), that would leave you a grand total of 70 quid a week for bills, food, transport costs and any discretionary spending. So yeah, if you graduated college at 22, walked into a job paying a median salary the minute you graduated, and lived like a hermit for 8 years you might just about save 100k. Good luck ever going on holiday, buying a car etc. though.

Of course though the idea that the average person graduates college at 22 and walks into a well paying job is a fantasy. Only half of the 25-34 age group are college graduates and by definition half of the workers in the country are earning below the median salary with newer entrants into the labour force over-represented in lower income brackets.

Me personally I graduated college in 2009, at the age of 23 with a STEM degree. I spent 6 months trying to find ANY job, without success before I gave up and decided to go back and do a masters. I graduated from my masters in 2011 at the age of 25, about 20 grand in debt, and despite finishing top of my class it still took me 6 months to get a job. I got my first real job at 26, and it wasn't until I was 28 that I had payed off my college debt. And I was one of the lucky ones, most of my friends from school and college still aren't making decent money.

EDIT: While overall median weekly wage is 560 a week, median wage for the 25-29 age group is actually only 470 according to the CSO. Totally realistic for the average person to save over half their income for 8 years in order to save for a house deposit.
I often hear this argument about a single person trying to buy a house on the salary. When I was young it was typically expected that you'd be buying a home as a couple getting married with two salaries. Apart from the fact that any single person buying has to compete on price with double income couples, why is there an expectation that a single person has to buy and be alone? Are we entering an ERA where people plan to live their lives alone or end up as a couple with two properties?
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29-10-2020, 14:06   #56
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Originally Posted by Dwarf.Shortage View Post
That's is a one bed apartment in Meath

I don't mean that figuratively, click into the map view of the actual ad.
The address is given as Dublin 15 plus you would have the help to buy scheme.
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29-10-2020, 14:10   #57
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Originally Posted by cnocbui View Post
The asking price of houses outside Dublin is 64% lower than in Dublin. If I were a median or lower wage earner in Dublin and wanted to buy, rather than rent my entire life, I would be thinking about moving to somewhere where housing was cheaper.
It's not always that easy though. If you're talking about a couple that are both working it might not be that easy for both to find a job in a smaller town. There's very little decent public transport so you may need to get a second car, you may have been relying on grandparents to do childminding and would have to pay for a creche if you moved, etc.

Plus it's far easier to find a new job in a bigger city than it is in a small town. I lived in Limerick and Sligo for a while, and I liked both well enough while I lived there but would never have considered moving there permanently. In both in the industry I am in there was limited opportunities to work and if you didn't like the place tough, there was nowhere else to go. And employers know that and pay you accordingly.
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29-10-2020, 14:10   #58
Dwarf.Shortage
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The address is given as Dublin 15 plus you would have the help to buy scheme.
The address is wrong, the apartment is in Meath. This is not subjective in any way.
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29-10-2020, 14:11   #59
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I dont think its unfair, I think buying your first home or indeed subsequent homes is challenging and difficult but something that we all generally get through.
It takes determination and sacrifice which imo not everyone has.

I also think people have to let go of the idea that they need to live in a certain area, or that they deserve too almost. You live where your pay check says you live. People need to be realistic
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29-10-2020, 14:13   #60
mariaalice
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The address is wrong, the apartment is in Meath. This is not subjective in any way.
Yes but it is still on the border of Dublin and somewhat affordable for a single applicant especially with help to buy.
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