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20-09-2019, 06:17   #31
nak
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Originally Posted by thomasdylan View Post
If you're renting in Dublin and can afford it you could well be better off buying. Paying 1500e a month in rent by however many months it takes for a drop in prices may be a worse deal than buying unless there's a significant and fairly rapid drop. If you're in a secure job, a mortgage in Dublin is going to be less in rent and if you've kids or are thinking of starting a family it could make sense to buy.
In the process of buying in Dublin as rent is now 1744/month for a 2 bed apartment. Finally saved enough money - renting since I started uni. House is a long term home, mortgage on a 3 bed house will be a few hundred per month less and we won't have to worry about rent increases or the landlord selling up.
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20-09-2019, 10:48   #32
dor843088
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In the process of buying in Dublin as rent is now 1744/month for a 2 bed apartment. Finally saved enough money - renting since I started uni. House is a long term home, mortgage on a 3 bed house will be a few hundred per month less and we won't have to worry about rent increases or the landlord selling up.
You'll only have to worry about boiler breakdowns property taxes going up house insurance going up interest rates going up and all the other costs and maintenance of your property that people dont factor in when comparing rent vs own. Not saying renting is great but a mortgage is certainly not the only cost associated with owning a home.
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20-09-2019, 11:31   #33
Edgware
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Originally Posted by dor843088 View Post
You'll only have to worry about boiler breakdowns property taxes going up house insurance going up interest rates going up and all the other costs and maintenance of your property that people dont factor in when comparing rent vs own. Not saying renting is great but a mortgage is certainly not the only cost associated with owning a home.
He never said it was. Being an owner means you have control. Why should house insurance go up outside basic rises? There are several schemes where you get low cost boiler service as part of your utility bill. A lot of house maintenance can be done by the owner. Painting, gardening etc are not complicated and there is plenty advice available from DIY sites
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20-09-2019, 13:14   #34
JohnnyChimpo
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Originally Posted by dor843088 View Post
You'll only have to worry about boiler breakdowns property taxes going up house insurance going up interest rates going up and all the other costs and maintenance of your property that people dont factor in when comparing rent vs own. Not saying renting is great but a mortgage is certainly not the only cost associated with owning a home.
I don't think you can equate getting your boiler repaired with the existential prospect of getting turfed on to the street because your LL pulled the rug from under you and there's minimal supply in the rental market. Please try to engage with the reality of what's happening in Dublin at the moment.
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20-09-2019, 13:34   #35
nak
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I don't think you can equate getting your boiler repaired with the existential prospect of getting turfed on to the street because your LL pulled the rug from under you and there's minimal supply in the rental market. Please try to engage with the reality of what's happening in Dublin at the moment.
Yeah, had a stressful period where a previous landlord gave us notice and we couldn't find anywhere to rent for 3 months. I also have friends in full time employment who were effectively homeless for 2 weeks recently between homes, no one should have to go through that.

I am not a child and well aware of the additional costs of maintaining a property, have had home insurance as a tenant. Our last boiler service was free, property tax is way less than the council tax we paid in the UK plus our previous LL wasn't great at fixing things or gardening (they lived in house before us) so we did most of the maintenance on the property ourselves.

Last edited by nak; 20-09-2019 at 16:24.
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20-09-2019, 23:01   #36
Glenbhoy
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Originally Posted by malandrini View Post
Every coin has two sides, if there is a crash, it is true the banks wont give you money initially, but they will be desperate to sell you the home of that guy/woman/couple who was not paying the mortage for several months.... and then, if you are reliable, they will give you money.
Theoretically sound, however, the option of replacing the person not paying with someone who will/can pay isn't really an option open to Irish banks, at least not a short to medium term option.
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23-09-2019, 12:57   #37
padd b1975
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Originally Posted by godtabh View Post
We bough 18 months ago. Recently had it revalued and after doing some work (c. €60k) the value increased by €125k.

When we moved in a neighbor mentioned that there was a few builder bidding on houses local. Doing them up and selling them on.

Another houses is on the estate for sale. Asking is about €30k more than what we paid for ours and in a similar condition.
Symptoms of a bubble?
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