Boards.ie uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Click here to find out more x
Post Reply  
 
 
Thread Tools Search this Thread
23-10-2019, 12:26   #46
gigantic09
Registered User
 
gigantic09's Avatar
 
Join Date: Sep 2009
Posts: 229
Quote:
Originally Posted by Creamy Goodness View Post
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.


But with new builds or self builds there you can claim tax back of up to 20000 over 3 or 4 years if I remember correctly. The help to buy scheme looks good on paper but you still need to have a deposit together although they will accept a 'gift payment' to cover a substantial part of this. Also I heard anecdotally that here in mayo they have only given out a handful to date and its not as straight forward as appears on the website.
gigantic09 is offline  
Advertisement
23-10-2019, 12:28   #47
Geuze
Registered User
 
Join Date: Jul 2010
Posts: 6,784
Quote:
Originally Posted by dvdman1 View Post
Are you earning above the so called avg industrial wage of 39k?
Average earnings of FT workers, incl overtime and irregular earnings, are 46k approx.

Let me check - actually 47,596.


Note that the average earnings of mortgage applicants will exceed this.
Geuze is offline  
23-10-2019, 12:31   #48
Creamy Goodness
Registered User
 
Creamy Goodness's Avatar
 
Join Date: Nov 2001
Posts: 24,559
Quote:
Originally Posted by gigantic09 View Post
But with new builds or self builds there you can claim tax back of up to 20000 over 3 or 4 years if I remember correctly. The help to buy scheme looks good on paper but you still need to have a deposit together although they will accept a 'gift payment' to cover a substantial part of this. Also I heard anecdotally that here in mayo they have only given out a handful to date and its not as straight forward as appears on the website.
yup you can use 4 years of your tax payments to apply for 5% of the purchase price as a help to bolster your deposit. Of course you still need a deposit to go along with this as the clue is in the 'help to buy'. There's limits in place in this scheme as the house can't be over 500k, you have to have a minimum 5% deposit yourself and no more than 30% including the HTB. It's not for everyone but if it's for you it helps.

The submission and claiming process is fairly straight forward provided you're a PAYE worker, self employed is a little more involved.
Creamy Goodness is offline  
Thanks from:
23-10-2019, 12:34   #49
HotMama89
Registered User
 
HotMama89's Avatar
 
Join Date: Oct 2019
Posts: 3
Bought in 2015 as a single parent (in a city but outside of Dublin). Basic 3 bed that needed a bit of work but in nice area. I was fortunate I could move back to my parents for 1.5 years (still paid rent just lower) and between frugality and being able to work for myself on the side I got there. Ironically my salary is now twice what it was back then and if I was buying this year Id just about be able to afford my own house!! It was all about the timing.
HotMama89 is offline  
Thanks from:
23-10-2019, 12:38   #50
Geuze
Registered User
 
Join Date: Jul 2010
Posts: 6,784
The average income of FTB mortgage applicants is 75k.

https://www.centralbank.ie/financial...and-commentary
Geuze is offline  
Thanks from:
Advertisement
23-10-2019, 12:38   #51
Seanachai
Registered User
 
Join Date: Dec 2010
Posts: 2,215
Quote:
Originally Posted by Plumbthedepths View Post
You won't get permission for a log cabins that are sold here as a permanent dwelling. For a log cabin to meet regulations the cost is similar to a traditional build.
There's a few down my way off the beaten track, I better not dox them in that case
Seanachai is offline  
Thanks from:
23-10-2019, 12:41   #52
TitianGerm
Registered User
 
Join Date: Jan 2012
Posts: 17,515
Quote:
Originally Posted by frillyleaf View Post
Genuinely asking how people are managing to do this. I’m currently renting and am constantly nervous of being given notice. Any time something is wrong with house I pay for it to be fixed unless it is to do with water or electricity. Rent privately but don’t I feel secure. Any time a letter comes in post I’m nervous it is an eviction notice. Have had to move house a few times now and want to get out of rent trap.

Long term I would like to buy but I just can’t see how this is ever going to be a possibility with current rental market and cost of living. I’m starting to become anxious about my future and children’s future.

How do people manage to buy as single applicants? Ideally I would like to stay in my area as children are in school here. I don’t live in an “affluent” area but can’t afford to buy. What are the options for single people to buy?

I feel quite disheartened and negative so I’m hoping there will be some positive feedback
What do you work as OP and what sort of salary do you bring in each month? As you have two kids they will be taken into account when applying for a mortgage.
TitianGerm is offline  
23-10-2019, 12:46   #53
 
Join Date: Oct 2014
Posts: 192
Check out your local authority website to see if they have an affordable housing scheme planned. There was a lot of talk about them in the news earlier this year.

https://www.irishtimes.com/news/soci...heme-1.3891244

South Dublin Co Council are inviting people to apply. Conditions are that you earn under 36,800 euro and have been in employment for 6 months.

Last edited by karenalot; 23-10-2019 at 12:50.
karenalot is offline  
Thanks from:
23-10-2019, 12:53   #54
The Student
Registered User
 
The Student's Avatar
 
Join Date: Nov 2015
Posts: 602
Quote:
Originally Posted by frillyleaf View Post
Genuinely asking how people are managing to do this. I’m currently renting and am constantly nervous of being given notice. Any time something is wrong with house I pay for it to be fixed unless it is to do with water or electricity. Rent privately but don’t I feel secure. Any time a letter comes in post I’m nervous it is an eviction notice. Have had to move house a few times now and want to get out of rent trap.

Long term I would like to buy but I just can’t see how this is ever going to be a possibility with current rental market and cost of living. I’m starting to become anxious about my future and children’s future.

How do people manage to buy as single applicants? Ideally I would like to stay in my area as children are in school here. I don’t live in an “affluent” area but can’t afford to buy. What are the options for single people to buy?

I feel quite disheartened and negative so I’m hoping there will be some positive feedback
If you are paying rent privately chances are you can afford to buy. You just need to accumulate the deposit. Maybe moving back in with parents for a time to save on rent to raise the deposit. Maybe moving to a lower cost area to give you time to save for a deposit.

All of the above are possible with a bit of effort. I appreciate you don't want to uproot your family but it might be necessary in the short term for the long term benefit.
The Student is offline  
(2) thanks from:
Advertisement
23-10-2019, 12:58   #55
frillyleaf
Registered User
 
Join Date: Aug 2014
Posts: 109
Quote:
Originally Posted by HotMama89 View Post
Bought in 2015 as a single parent (in a city but outside of Dublin). Basic 3 bed that needed a bit of work but in nice area. I was fortunate I could move back to my parents for 1.5 years (still paid rent just lower) and between frugality and being able to work for myself on the side I got there. Ironically my salary is now twice what it was back then and if I was buying this year Id just about be able to afford my own house!! It was all about the timing.
That’s incredible well done. Huge achievement to be able to buy your own house as a single parent. This gives me some hope that it will be possible in the future. Maybe the prices will come back down in a few years to the way they were! Who knows it could happen again
frillyleaf is offline  
23-10-2019, 12:59   #56
machaseh
Registered User
 
machaseh's Avatar
 
Join Date: May 2019
Posts: 266
Quote:
Originally Posted by The Student View Post
If you are paying rent privately chances are you can afford to buy. You just need to accumulate the deposit. Maybe moving back in with parents for a time to save on rent to raise the deposit. Maybe moving to a lower cost area to give you time to save for a deposit.

All of the above are possible with a bit of effort. I appreciate you don't want to uproot your family but it might be necessary in the short term for the long term benefit.
Not everybody has parents to move back to. Parents might be severely ill, passed away, there might have been family issues in the past such as abuse etc.

Not everybody is able to drive a car and commute a very long distance into Dublin for work every day. Some people are medically unable to drive.

Stop assuming that everybody can 'just move back to their parents in their old village and commute to work to save money'. It's a myth that is simply impossible for many people.
machaseh is offline  
23-10-2019, 13:04   #57
The Student
Registered User
 
The Student's Avatar
 
Join Date: Nov 2015
Posts: 602
Quote:
Originally Posted by machaseh View Post
Not everybody has parents to move back to. Parents might be severely ill, passed away, there might have been family issues in the past such as abuse etc.

Not everybody is able to drive a car and commute a very long distance into Dublin for work every day. Some people are medically unable to drive.

Stop assuming that everybody can 'just move back to their parents in their old village and commute to work to save money'. It's a myth that is simply impossible for many people.
I did not "assume" anything. I merely suggested options. Your response indicates that you have automatically gone on the defensive rather than seeing the post for the spirit in which it was intended.
The Student is offline  
23-10-2019, 13:08   #58
machaseh
Registered User
 
machaseh's Avatar
 
Join Date: May 2019
Posts: 266
Quote:
Originally Posted by The Student View Post
I did not "assume" anything. I merely suggested options. Your response indicates that you have automatically gone on the defensive rather than seeing the post for the spirit in which it was intended.
So what would your suggested options be for someone who doesnt have parents to move back to and someone who is unable to drive a car due to medical reasons?
machaseh is offline  
23-10-2019, 13:09   #59
jon1981
Registered User
 
Join Date: Jan 2007
Posts: 4,086
RSUs
jon1981 is offline  
Thanks from:
23-10-2019, 13:11   #60
Fiftyfilthy
Registered User
 
Fiftyfilthy's Avatar
 
Join Date: Dec 2018
Posts: 422
I was very fortunate, last 20 years renting. My salary is exactly average according to media reports

I was able to save a deposit over the last 12 years. Had no holidays, had the same car 15 years, lived a very frugal existence

I tried for a mortgage 4 years ago but mortgage approval wasn’t enough to buy in Dublin

Applied for the rebuild Ireland scheme as soon as it became available

My landlord was selling and offered it at market price and not the price on the open market

Without the rebuilding Ireland and my landlord selling at market value without external bidders, I would not have been able to purchase

I was very fortunate

From my side, I received no inheritance or cash from anyone. My salary is average and I have a dependent. I just made sure I had no debt, loans and regular savings. I’m not saying for a moment it’s as easy as that , it just gave me more of a chance.

Renting was always stressful as I would tend to stay 4-5 years in a place with my child then all of a sudden , notice that landlord is selling

The worry of trying to find somewhere, able to afford was soul destroying

I never forget how fortunate I am

I’d love to see some sort of legislation for working families who pay rent to be taken into account when going for a mortgage

Ie rent 2k a month for a couple the last 5-10 years means they only need 5% deposit or something

Last edited by Fiftyfilthy; 23-10-2019 at 13:14.
Fiftyfilthy is offline  
Post Reply

Quick Reply
Message:
Remove Text Formatting
Bold
Italic
Underline

Insert Image
Wrap [QUOTE] tags around selected text
 
Decrease Size
Increase Size
Please sign up or log in to join the discussion

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Share Tweet