Ever think you'll own your own place?

Elessar · 03-04-2017 8:40am #1

For those of you who haven't yet bought a place, do you ever think you will?

I was having a look at the prices in some estate agents recently and was shocked to say the least. Most were going for €600-700k. Now granted this was in an apparently desirable part of Dublin (Malahide), but even further out, places like Donabate and parts of Swords I'm still seeing lots of €400-500k+ houses.

I'm not sure how are people affording these. There's obviously a significant number of people who can. But if you haven't bought yet, particularly if you're in Dublin, do you reckon you will be able to?

Gunslinger92 · 03-04-2017 8:43am

I'm 25, living in Dublin, salary is in the low 30s, and I highly doubt I will

_Brian · 03-04-2017 8:46am

There's plenty of life outside Dublin and indeed even outside the pale.

Mich easier to afford a living and a house too.

DontThankMe · 03-04-2017 8:47am

No but sure the government will provide me with a house it's grand.

tomwaterford · 03-04-2017 8:47am

Not a hope....toyed with the idea/dream of building a house.....but would never get a mortgage (well 2.5 times my income wouldn't build a house)

All this is based on the presumption I'll never win the lotto

gramar · 03-04-2017 9:20am

https://www.youtube.com/watch?v=YxBSUA5pUgg

Noveight · 03-04-2017 9:23am

At some stage, yeh.

Pac1Man · 03-04-2017 9:32am

tomwaterford wrote: »

Not a hope....toyed with the idea/dream of building a house.....but would never get a mortgage (well 2.5 times my income wouldn't build a house)

All this is based on the presumption I'll never win the lotto

'Tis 3.5 times.

Did I just make this dream come true?!

SEPT 23 1989 · 03-04-2017 9:36am

Anyone on less than 35k should have their names on the housing list

Ash.J.Williams · 03-04-2017 9:36am

Me never

Akrasia · 03-04-2017 9:37am

Bought a 3 bed semi in a nice part of Ennis with a nice big south facing garden for 84k last year.

Dublin house prices are insane.

Glenster · 03-04-2017 9:40am

Elessar wrote: »

For those of you who haven't yet bought a place, do you ever think you will?

I was having a look at the prices in some estate agents recently and was shocked to say the least. Most were going for €600-700k. Now granted this was in an apparently desirable part of Dublin (Malahide), but even further out, places like Donabate and parts of Swords I'm still seeing lots of €400-500k+ houses.

I'm not sure how are people affording these. There's obviously a significant number of people who can. But if you haven't bought yet, particularly if you're in Dublin, do you reckon you will be able to?

your pricing seems in the high side.

if you're willing to live on the north side you can get a decent 3 bed for 350.

you could swing that on salaries of 35 and 25k, assuming you don't have massive debts.

the deposit is a matter of saving for two/three years.

BlinkingLights · 03-04-2017 9:42am

I think I'll probably just emigrate to the continent as soon as I can find a decent job there (I'm actively looking at the moment). The cost of housing here and the quality of what you get are just dire compared to a lot of Northern Europe.

I can rent in quite a few countries on an on-going basis more like a commercial lease - it's a viable prospect for the rest of my days, whereas in Ireland if I can't buy I'm basically condemned to dealing with crumby landlords, bad furniture, bad decor, poor quality, no stability of lease and being able to be turfed out.

Renting here was always seen as some kind of temporary situation for those who were just not buying yet. It's become a permanent thing for many of us now and the structures (legal framework, supply of quality homes, inspection regime, etc etc) are not in place to make it work.

I don't really want to live in the middle of nowhere (where I could afford a house) and I don't want to live in a hovel or share in my 30s in Dublin, Cork etc. So, my options are looking more like Germany now.

Permabear · 03-04-2017 9:47am

This post has been deleted.

CelticRambler · 03-04-2017 9:53am

_Brian wrote: »

There's plenty of life outside Dublin and indeed even outside the pale.

Mich easier to afford a living and a house too.

That was my analysis when "an opportunity arose" to move back to Dublin in 2003 from the UK.

Fortunately, I saw sense and swapped the remainder of a 30-year UK mortgage on a wooden hut for the cash purchase of a real house not in Dublin. Signed on the dotted line 13 years and 5 days ago and haven't regretted it one little bit. :cool:

thierry14 · 03-04-2017 9:53am

Akrasia wrote: »

Bought a 3 bed semi in a nice part of Ennis with a nice big south facing garden for 84k last year.

Dublin house prices are insane.

Did similar

Moved out of Dublin bought a 4 bed with garage in west Limerick for 120k last year too

Sure I had to take a hit with salary from 45k to 38k but similar property would be around 300k in Dublin

Had thought about buying in Dublin as we could get mortgage up to 300k but with child, working full time just isn't worth it for wife with childcare costs and transport

Rent had increased to 1500pm and baby was coming so had no choice but to leave

Vojera · 03-04-2017 9:56am

In Dublin, not a chance. And easy as it is to say to just move somewhere else, Dublin is where we have work so Dublin is where we'll stay.

The amount we pay in rent would more than cover a mortgage but we just can't save anything significant while paying that amount. So we've resigned ourselves to renting forever.

Samuel T. Cogley · 03-04-2017 9:58am

IF Dublin's property market ever sorts itself out a few things will happen

i) Working class people will live in working class areas. Working class people (now retired) living in Malahide and D4 moved there when property prices were artificially low. I say that with no aspersions what so ever, working class and living in a working class area.

ii) Property prices will be high in certain areas and remain high, this is simple supply and demand.

iii) People will start off in something smaller and trade up, as is the norm in the UK.

There is no disputing we need supply urgently, but even now there are affordable houses in Dublin D5 has some great value. There are also options in D12, D9, D11 and D15.

Grayson · 03-04-2017 10:01am

Glenster wrote: »

your pricing seems in the high side.

if you're willing to live on the north side you can get a decent 3 bed for 350.

you could swing that on salaries of 35 and 25k, assuming you don't have massive debts.

the deposit is a matter of saving for two/three years.

I'm not sure where you think someone on 35k could save 35k in 3 years.

Gunslinger92 · 03-04-2017 10:01am

It kinda bugs me people saying oh just move out of Dublin sure. But... I like Dublin. All my friends are here, my unusual hobby is here. I'm from Munster and I couldn't imagine settling there.

I'm aware I could change my mind, of course, but for the moment, no.

Samuel T. Cogley · 03-04-2017 10:02am

Gunslinger92 wrote: »

It kinda bugs me people saying oh just move out of Dublin sure. But... I like Dublin. All my friends are here, my unusual hobby is here. I'm from Munster and I couldn't imagine settling there.

I'm aware I could change my mind, of course, but for the moment, no.

Dogging goes on all over...

Grayson · 03-04-2017 10:05am

Gunslinger92 wrote: »

It kinda bugs me people saying oh just move out of Dublin sure. But... I like Dublin. All my friends are here, my unusual hobby is here. I'm from Munster and I couldn't imagine settling there.

I'm aware I could change my mind, of course, but for the moment, no.

My family live on the west coast now. They're always saying I should move there. If I moved there I'd be moving to the other side of the country, away from every friend I have. I'd be moving to an area where I'd be unlikely to find a job.
So I'd be unemployed, lonely and bored. But hey, at least the house prices are cheaper.

LirW · 03-04-2017 10:07am

Samuel T. Cogley wrote: »

IF Dublin's property market ever sorts itself out a few things will happen

i) Working class people will live in working class areas. Working class people (now retired) living in Malahide and D4 moved there when property prices were artificially low. I say that with no aspersions what so ever, working class and living in a working class area.

ii) Property prices will be high in certain areas and remain high, this is simple supply and demand.

iii) People will start off in something smaller and trade up, as is the norm in the UK.

There is no disputing we need supply urgently, but even now there are affordable houses in Dublin D5 has some great value. There are also options in D12, D9, D11 and D15.

Good that you brought that up because I genuinely want to know how working class is defined nowadays? I know a lot of people would avoid the postcodes you mentioned. Personally I do not understand that because for example in D11 there are so many parts that are perfectly fine.

We were looking into buying in D11, prices unfortunately overtook what we're willing to spend so we decided to look outside. And believe me, convincing a Dub who grew up in the wonderful entitled parts of D9 to move outside... tough bit of work here.

Have to say though, we're not the classic couple with the routine of education, work, wedding, mortgage, family so getting a mortgage in the first place is a good bit of work.

eeguy · 03-04-2017 10:11am

Probably yes. I'm in my late 20s, earn 50k and I spend very little. I'm fortunate that I don't work in a city and can pick up a nice house for about 150k.

LirW · 03-04-2017 10:12am

Grayson wrote: »

I'm not sure where you think someone on 35k could save 35k in 3 years.

Easy, move in with your parents or In-laws :pac:

Regarding moving out: I fully understand when people wanna stay in the city, that is your decision and for city life you're always going to pay a premium compared to outside. If you're really looking for buying your options are limited, either waiting for "the right time", putting up with the prices, moving out.
I don't wanna dismiss that there are huge problems on the housing market in the city but we can't change it. It's a take it or leave it really.

PARlance · 03-04-2017 10:13am

Gunslinger92 wrote: »

It kinda bugs me people saying oh just move out of Dublin sure. But... I like Dublin. All my friends are here, my unusual hobby is here. I'm from Munster and I couldn't imagine settling there.

I'm aware I could change my mind, of course, but for the moment, no.

Nobody is forcing you to leave Dublin. Just don't expect a house of your own there until you move up the salary scale and settle down with a (good salaried) partner.

At 25, I would say just enjoy Dublin life. You've plenty of time and options. It can kinda bug people when they hear people wanting it all when it's not really realistic.

Samuel T. Cogley · 03-04-2017 10:13am

LirW wrote: »

Good that you brought that up because I genuinely want to know how working class is defined nowadays? I know a lot of people would avoid the postcodes you mentioned. Personally I do not understand that because for example in D11 there are so many parts that are perfectly fine.

We were looking into buying in D11, prices unfortunately overtook what we're willing to spend so we decided to look outside. And believe me, convincing a Dub who grew up in the wonderful entitled parts of D9 to move outside... tough bit of work here.

Have to say though, we're not the classic couple with the routine of education, work, wedding, mortgage, family so getting a mortgage in the first place is a good bit of work.

I'd define it as anyone who doesn't have a profession such as Doctor, Lawyer, Accountant, IT Engineer etc. If you fit into the general category like me (semi-skilled), skilled work or trade you're generally working class. Again IMHO.

Caliden · 03-04-2017 10:16am

There will be another 'crash' soon enough. The rate of increase is simply not sustainable.

Despite the government saying 'there will be no crash', it reeks of 'DON'T PANIC, JESUS DON'T PANIC' while everything is on fire around them.
Many have vested interests in property so of course they would say that.

Experts have been saying it for the past 5 years that more houses need to be built at a faster rate, however, doing so would cause the crash.

Samuel T. Cogley · 03-04-2017 10:19am

Caliden wrote: »

There will be another 'crash' soon enough. The rate of increase is simply not sustainable.

Despite the government saying 'there will be no crash', it reeks of 'DON'T PANIC, JESUS DON'T PANIC' while everything is on fire around them.
Many have vested interests in property so of course they would say that.

Experts have been saying it for the past 5 years that more houses need to be built at a faster rate, however, doing so would cause the crash.

Crashes don't help. No one sells and when you find an old wreck someone has died in you can't get finance. It's aprt of the reason there is so much pent up demand and people with so much maney to plonk down, they started looking and saving in 2011.

LirW · 03-04-2017 10:20am

Samuel T. Cogley wrote: »

I'd define it as anyone who doesn't have a profession such as Doctor, Lawyer, Accountant, IT Engineer etc. If you fit into the general category like me (semi-skilled), skilled work or trade you're generally working class. Again IMHO.

I fully agree, can't wrap my head around though why it's used as a synonym for "Omg all those blokes in D13 are on the dole anyway, who in their right mind would buy there?" Don't wanna dismiss that there are problematic parts in town but there is definitely some snobbery going on.

Also, heard on the radio yesterday that Celtic Tiger prices are expected to be back in 3 years from now. :pac:

Samuel T. Cogley · 03-04-2017 10:22am

LirW wrote: »

I fully agree, can't wrap my head around though why it's used as a synonym for "Omg all those blokes in D13 are on the dole anyway, who in their right mind would buy there?" Don't wanna dismiss that there are problematic parts in town but there is definitely some snobbery going on.

Also, heard on the radio yesterday that Celtic Tiger prices are expected to be back in 3 years from now. :pac:

Aye it make me laugh too. Transits in loads of drivways, taxis parked on the street and everyone is suposedly unemployed!

Ever think you'll own your own place?

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