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23-10-2019, 11:24   #16
James Bond Junior
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I bought by myself in 2015. Sold assets eg nice car, took on extra work and saved my butt off. Bought a very modest place in Limerick city in a decent area which is bordered by a very rough area and a very good area on each side. My wife and I are currently working abroad to gather the deposit for the next place and I so I hopefully won't need to sell the first place. You need to make sacrifices, which is easier outside Dublin admittedly but look at your options and evaluate what you can do to increase income or decrease outgoings.

Last edited by James Bond Junior; 23-10-2019 at 11:27.
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23-10-2019, 11:28   #17
Bass Reeves
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It mostly a Dublin area issue.in most other cities houses/Apartment sub 200k are available. There are still houses and apartments available sun 100k in smaller villages and towns within 50 km of cities other than Dublin. However there are fewer and fewer in this bracket.
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23-10-2019, 11:29   #18
terrydel
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Originally Posted by lawred2 View Post
They have incomes/inheritance/parents etc that facilitate such purchases

Nothing cryptic about it
Pretty sad that that is whats its come to in this country. Owning a home is fast becoming an aspiration only for the well off.
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23-10-2019, 11:32   #19
Plumbthedepths
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We bought 2 years ago (for context) and needed to save a 20% deposit.
20 per cent? So not a first time buyer.
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23-10-2019, 11:32   #20
lawred2
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Pretty sad that that is whats its come to in this country. Owning a home is fast becoming an aspiration only for the well off.
Was there a time where that wasn't the case?

Were houses and land handed out to Irish people?

And I'm don't mean through plantations.
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23-10-2019, 11:33   #21
terrydel
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I bought by myself in 2015. Sold assets eg nice car, took on extra work and saved my butt off. Bought a very modest place in Limerick city in a decent area which is bordered by a very rough area and a very good area on each side. My wife and I are currently working abroad to gather the deposit for the next place and I so I hopefully won't need to sell the first place. You need to make sacrifices, which is easier outside Dublin admittedly but look at your options and evaluate what you can do to increase income or decrease outgoings.
I think the vast majority know they have to make sacrifices and are willing to and actually doing so.
The is a narrative now that the current generation are not willing to do so and want to have their cake and eat it. Imho, this is very unfair. There will always be a small % who have this mindset but for the most part, this generation and those who suffered most during the recession, are no different to those that came before. They want the same things, a secure roof over their head somewhere that allows them a decent life.
But thru mostly no fault of their own, our society is now structured to make that extremely difficult and in many cases impossible.
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23-10-2019, 11:36   #22
pg633
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The log cabins you reference come up here and in the building forum regularly - you are unlikely to get planning permission for one and if you did they probably wouldn't meet building requirements.

Edit: once we had kids and went to one income and rented a bigger place it was much harder to save. The bulk of savings were from before then.
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23-10-2019, 11:36   #23
machaseh
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It depends entirely on your circumstances and your income level. With my specific circumstances, I will never ever be able to buy a home until I win the lottery or something (not that I participate in that but you know what I mean).

- I am medically unable to drive a car, meaning I have to live in larger cities with public transportation. The rent is then obviously a lot higher. If I would live in a small town my freedom of movement would be severely restricted, I might not be able to go anywhere if the bus doesnt run on sunday for example, and that would severely impact my quality of life. How would I shop, how would I travel to work? Etc.

- I don't earn that much money, I just have about a median salary or so. Of course as my career progresses I'll be earning more, but so will the house and rent prices.

- I don't have a partner and don't see any relationship happening soon. Of course this might change but one can never know.

- I am not from a rich family and I have a lot of problems with the relationship with my father. I might receive not a single penny of inheritance at all, they sure as hell don't support me now anyway, I'm on me own feet.

I simply don't see me ever being able to purchase a house where I come from (netherlands) let alone here in Ireland.
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23-10-2019, 11:38   #24
denartha
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I’ve noticed a few apartments going for sale in my block too. It is absolutely terrifying to see dual income families with children scrambling to find places to rent and I’m worrying it will be me next.

Well done on saving up for deposit. That is great news and I wish you all the best with your new home.
I live in a small corner apartment. I have just enough room for my stuff and I live alone. Opposite me is another corner apartment there is a family of four. I honestly can't imagine what it must be like for them. They own it but can't afford anything larger currently.

I'm in a similar boat OP. Trying to save but my rent sucks so much money, saving anything substantial is slow. No chance of help from parents. No chance of a free site. Just keep saving and watch it slowly add up. I reckon I need at least 30, if not 35k for a deposit.

I went to a mortgage advisor. There was a free clinic in my local bank branch. The advice was ridiculous.

-Don't buy daily cups of coffee(I don't any way)
-Bring lunch to work (I do that already)
-Reign back on holidays(I had my first holiday this year in 3 years)
-Consider down sizing your car(I don't have one)

The advice was one step up from cancel your sky and stop eating avocado toast.
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23-10-2019, 11:43   #25
Wayne Jarvis
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I recently bought an apartment by myself with no help from anybody. I don't know what you're exact situation is OP but I started my job 13 years ago and only earned 18K a year. Now I'm on somewhere between 32-35k depending on bonuses. I moved out of my parents house about 10 years ago and have been renting with others since then. The way I did it was to just be frugal really, I shop in Aldi or Lidl, don't go out drinking 3-4 nights a week , don't order takeaways 2-3 times a week, don't buy the latest "must have thing" like a slightly updated iPad, I don't know what version of iPad I have but it works grand still so no need to change!, I don't buy lunches/coffee in work in Starbucks or similar every week, I make my own lunches. I still do most of those things but just not every single week. Two people I know do most of that stuff every week and then complain that they "barely get by", when it's pointed out to them how they can save money they get mad and blame the government!
I do also spend money sometimes too
Since I started this job I have bought 3 cars, nothing too new or fancy but they get me around, I have had a good few holidays but have had to put work into finding good deals on them, I have an iPad, laptop, iPod, still socialise etc...
I was able to pay for half of the property price myself with my savings and still have a sizeable amount left over and now half a small enough mortgage (less that 100k).
Again I'm not saying you spend too much, I'm just giving my take on my own experience. Good luck to you frillyleaf!
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23-10-2019, 11:48   #26
sportsfan90
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Originally Posted by denartha View Post
I went to a mortgage advisor. There was a free clinic in my local bank branch. The advice was ridiculous.

-Don't buy daily cups of coffee(I don't any way)
-Bring lunch to work (I do that already)
-Reign back on holidays(I had my first holiday this year in 3 years)
-Consider down sizing your car(I don't have one)

The advice was one step up from cancel your sky and stop eating avocado toast.
Just because those things don't apply to you doesn't make them bad advice. Several people I know waste ridiculous amounts of money on those things without thinking what it all adds up to.

If you want a more in-dept personalised savings plan, pay a financial advisor rather relying on a free clinic.

Last edited by sportsfan90; 23-10-2019 at 11:51.
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23-10-2019, 11:52   #27
evillive
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Single buyer here - my experience was I went to a mortgage broker with my details, savings/earnings, they came back with suggested limits/availability of mortgage products, I eventually found a property within the limit and the small detail got set/approved then. I'd certainly recommend that route as an option for you, let the experts do that work, just make sure yourself then you're happy with the finer detail/costs etc if it comes to getting the loan
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23-10-2019, 11:54   #28
Creamy Goodness
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Unfortunately apart from new builds there's not alot of incentives out there for a person looking to buy. In fact its the opposite as you have to pay stamp duty.
There's the rebuilding Ireland scheme https://rebuildingireland.ie not sure how feasible this is for the OP.

New builds require paying stamp duty as well, no one gets away from paying stamp duty. Unless you mean LPT? Which is true there's no LPT on new builds at the moment, LPT is a bit of a small fish though it's not causing people to not be able to afford a home.
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23-10-2019, 11:59   #29
BrownFinger
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20 per cent? So not a first time buyer.
We were 1st time buyers but couldn't get a mortgage for what we wanted so had to save around 20% also.

Saving as a single applicant isn't the biggest hurdle its the 3.5times salary cap that will get you.
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23-10-2019, 12:00   #30
frillyleaf
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I live in a small corner apartment. I have just enough room for my stuff and I live alone. Opposite me is another corner apartment there is a family of four. I honestly can't imagine what it must be like for them. They own it but can't afford anything larger currently.

I'm in a similar boat OP. Trying to save but my rent sucks so much money, saving anything substantial is slow. No chance of help from parents. No chance of a free site. Just keep saving and watch it slowly add up. I reckon I need at least 30, if not 35k for a deposit.

I went to a mortgage advisor. There was a free clinic in my local bank branch. The advice was ridiculous.

-Don't buy daily cups of coffee(I don't any way)
-Bring lunch to work (I do that already)
-Reign back on holidays(I had my first holiday this year in 3 years)
-Consider down sizing your car(I don't have one)

The advice was one step up from cancel your sky and stop eating avocado toast.
Well done for trying to get deposit together.

I don’t buy cups of coffee and don’t eat out. All food is made. I don’t go on holidays and I definitely don’t own a car that is large enough to downsize. I live quite frugally as it is even. I don’t have sky or any unnecessary items that would be considered a luxury. In terms of clothes it is the bare minimum that I have and only buy clothes when needed. Even without all of these things owning a house seems out of reach long term. In terms of size, I would happily live in a small two bed apartment but prices are still out of reach even outside Dublin so it’s not that I’m being unrealistic and wanting to buy close to the city centre. Maybe it’s common now for people not to be able to afford to buy a home but I’m trying to be positive.
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