Looking for some advice on my situation

sashafierce · 29-10-2018 3:05pm

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Geuze · 29-10-2018 3:11pm

sashafierce wrote: »

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https://www.askaboutmoney.com/threads/23-of-the-value-of-total-ftb-lending-exceeded-the-3-5-lti-limit-only-7-loans-exceeded-90-ltv.209857/#post-1585423

FTB average income = 73,272

SSB average income = 106,285

sashafierce · 29-10-2018 3:13pm

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SteM · 29-10-2018 3:15pm

volchitsa wrote: »

What about buying with a friend? People do that in London, the idea being that in a few years either one of the two buys out the other or both sell and move on.

2 friends of mine did that during the last boom, it did not turn out well for them. Friends go into these things with the best of intentions but then life gets in the way.

Fol20 · 29-10-2018 3:15pm

sashafierce wrote: »

I don't want to say what my salary is I'm easily identifiable on here. I saved 17k in the last 10 years. I've also bought a car out right, travelled extensively and lived abroad in that time so I think 17k at the end of that is decent. I could of saved double that and had no life

I hear you. On the other end of the spectrum. While you and I may have travelled. Other people have saved and saved and not done any of those things so they can afford their own houses. It’s all about comprimising and prioritizing your goals whatever that might be in life. To get a house. Normally you would have to at least plan 3-5yrs in advance in preparation of what you want to achieve.Some I’m sure have been saving for 10years or more.

29-10-2018 3:16pm

sashafierce wrote: »

I don't know anyone at 28 years old making 73k . As a couple year sure but not an individual

That income figure is per application, 70% are joint applications.

Geuze · 29-10-2018 3:16pm

To give you a comparison, 15 years ago I was saving 700 pm towards a deposit, while running a car, paying non-Dublin rent, and going on 2-3 holidays (not extravagant) each year.

Sorry to be negative, but 17k savings isn't a lot when buying a house.

Geuze · 29-10-2018 3:17pm

sashafierce wrote: »

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The average age of FTB is 34.

Yes, many FTB are couples.

Average earnings in Ireland, incl overtime, are 46k.

sashafierce · 29-10-2018 3:17pm

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Ursus Horribilis · 29-10-2018 3:19pm

You'll need to subtract about €5k from that €17k as well. Solicitor's fees, stamp duty, property tax, the surveyor and the valuer all need to be paid before you draw down your mortgage.

29-10-2018 3:22pm

sashafierce wrote: »

I get that and I'm not doubting people have more saved but people on here seem to think that everyone in their late 20s are pushing the 80k mark and that's not accurate. I've a good job, a degree requiring job it's not like I'm on minimum wage here.

All I wanted was some tips not to be told my saving is white and that I'm coming across this that and the other.

Happy for this to be closed now

Seems like you're done with the thread but if you do read this - if you don't get regular savings going again every month then the banks just won't give you a mortgage. Maybe moving home for a short spell will let you save again. They will ask for 6 months of savings statements and you have to have saving going in every month and you can't touch that money.

Your savings obviously aren't ****e and I'm fairly sure you've probably got more saved up than most people your age so it's a good start.

sashafierce · 29-10-2018 3:22pm

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sashafierce · 29-10-2018 3:25pm

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limnam · 29-10-2018 3:27pm

sashafierce wrote: »

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You're probably taking this a bit to personal.

People tend to come here for advice/help you seem to be taking that as an attack on you. It's not, it's just the reality of the current situation.

If you're not happy with what's been said, fine.

Lots of people have degrees/jobs and can't afford to buy a specific type of home in a specific areas

There's nothing specifically fair or unfair about it, it's just the way it is.

If you're on 40kish with your savings you can buy a property on your own.

The type it is and where it is will then probably be your next "unfair".

No one has the "right" to own a property and there's nothing "unfair" about it.

limnam · 29-10-2018 3:28pm

sashafierce wrote: »

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WTF.

Heres Johnny · 29-10-2018 3:28pm

The only thing anyone took exception to was the fact you said you were being discriminated against and that you would absolutely not compromise on your job or on your location to buy.
That's entitlement attitude. Nobody likes that. The simple fact is now and into the future Dublin is going to be difficult to buy in for single people and for joint applicants without a high salary. But it can be done.

sashafierce · 29-10-2018 3:30pm

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username2013 · 29-10-2018 3:31pm

Bluefoam wrote: »

I currently live in Dublin suburbs only 5k from the city center, I have a 1.5 hour commute...

Get a bike if ya can, would cut that down to about 15 minutes.

sashafierce · 29-10-2018 3:32pm

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limnam · 29-10-2018 3:36pm

sashafierce wrote: »

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You can buy though.

What you can buy and where is going to be the only restriction for you currently.

Wildly Boaring · 29-10-2018 3:37pm

sashafierce wrote: »

Thanks. This thread has just upset me and made me feel like nothing I've done is good enough and I should change my job and never get my hopes up to buy.

Or chin up and formulate plan.
You've 17k saved while getting in a nice bit of travel and purchasing car.

You're late 20s and degree qualified so what 6 years working total? But nice bit of savings went to travel and car.

You want to buy a house decide what and where. Research. Average 1 2 and 3 bed prices.

Then look how to achieve.

You may need to move home for say 2 years and commute....
You may need to start looking at working out from Dublin city centre or looking for a better job.

Or you may be happy with job and decide to go for a 1 bed with commute

wersal gummage · 29-10-2018 3:38pm

For what it's worth, I mentioned your savings amount purely in the context of whether you'd satisfy a banks stress testing of a mortgage application. I mentioned it only because YOU twice stated that you've saved for ten years (with a certain touch of woe is me about it). You gave the impression that you were struggling. I see you've subsequently mentioned holidays and cars etc so that is not the case. My comment was in no way a personal criticism of you or of the amount that you have saved. Best of wishes to you and your house hunting

Hhugedick · 29-10-2018 3:39pm

sashafierce wrote: »

I don't mind the hour commute for a year or so. Not an option forever. I already work outside the city but want to be able to move jobs if ever needed.

Ideal place to buy would be somewhere like Lucan. Since I don't make 50k a year does this mean I'm basically discriminated against for not being in a couple? So only individuals in top end jobs will ever be able to buy?
Because there's not enough pressure on single females to "find someone" uuuugh

I lived in Lucan when younger, grand spot but was to expensive for me to buy, anyway a bit of advice on moving out the country or considering it. Done it myself and pretty much regretted it from about 2 months after getting keys to my lovely two bed apartment. Yep I got two months of enjoyment. Am in portarlington but I might as well be belmullet. Commute to Dublin cc is not the worst bit, I find having to run for public transport on a Friday night at 10.30pm or not been able to get home the most frustrating bit.. Your drunk and having a great time with friends and then you have to worry about getting the last bus. My advice is to think long and hard about leaving Dublin. If like me your a born and bred dub thin living in a town of 8 thousand people can be tough. Im stuck here now because I bought at wrong time but it does get a little easier but not for a while..

sashafierce · 29-10-2018 3:41pm

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Wildly Boaring · 29-10-2018 3:42pm

Hhugedick wrote: »

I lived in Lucan when younger, grand spot but was to expensive for me to buy, anyway a bit of advice on moving out the country or considering it. Done it myself and pretty much regretted it from about 2 months after getting keys to my lovely two bed apartment. Yep I got two months of enjoyment. Am in portarlington but I might as well be belmullet. Commute to Dublin cc is not the worst bit, I find having to run for public transport on a Friday night at 10.30pm or not been able to get home the most frustrating bit.. Your drunk and having a great time with friends and then you have to worry about getting the last bus. My advice is to think long and hard about leaving Dublin. If like me your a born and bred dub thin living in a town of 8 thousand people can be tough. Im stuck here now because I bought at wrong time but it does get a little easier but not for a while..

Ha
I've a mate constantly extolling the great train to and from portarlington.

Your main gripe seems to be you can't get home after pints.
Maybe try joining some clubs etc and socialising where you live like the rest of us.

29-10-2018 3:44pm

username2013 wrote: »

Get a bike if ya can, would cut that down to about 15 minutes.

Assuming the poster is actually working in Dublin city then yes a million percent this.

sashafierce · 29-10-2018 3:47pm

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pnecilcaser · 29-10-2018 3:47pm

A lot of people I have talked to about "buying with friends" have been extremely wary of the situation. Even with family. Once money gets involved in a relationship things can go sour pretty quickly. That said one of my friends has just bought in Tallaght at around the 250k mark with the girl he has been renting with for the past ten years. He's gay, but aside from that they are practically a married couple on paper

I wouldn't rule out teaming up with someone to afford a mortgage. Circumstances have changes and as long as all agreements and contingencies are planned for and everything is in writing I wouldn't be put off the idea.

Bluefoam · 29-10-2018 3:48pm

Dakota Repulsive Yawn wrote: »

username2013 wrote: »

Get a bike if ya can, would cut that down to about 15 minutes.

Assuming the poster is actually working in Dublin city then yes a million percent this.

Thanks for the advice... I have a bike, thank you. I wasn't in fact complaining of my commute, I was expressing surprise that the OP considered an hour's commute to be excessive... I would have thought that an hour each way would be considered relatively normal for many not living in Dublin city centre

sashafierce · 29-10-2018 3:50pm

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Wildly Boaring · 29-10-2018 3:54pm

sashafierce wrote: »

"Like the rest of us" maybe he likes drinking.

Yeo but if he's living in portarlington perhaps he should socialise in portarlington or portlaoise.

It's an odd one to give out about in my opinion.

I grew up an hour from Dublin and often ran for the last bus. I also stayed with friends or family. Or got hotel. Or you know socialised near home.

You cannot expect to have it all when you buy unless you are absolutely minted. Everyone makes compromises. People on 100k a year make huge compromises on buying smaller or further away or away from the sea or whatever. Couples comprise hugely on what the other half needs or wants. People with kids compromise on schools or further college locations.

Not being able to get home from Dublin city after pints is a minor inconvenience compared to most real problems

Bluefoam · 29-10-2018 3:54pm

sashafierce wrote: »

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An hour away isn't always an hour away.... I lived in Portlaoise for 4 months which is an hour away but in commute terms is 2hours+ away[/quote]
I would have thought that if it was 2+ hours away that it would be described as over two hours away... Like I said my commute is an hour and a half, but if I drove in on a Sunday it would only take 15-20 minutes.

Wildly Boaring · 29-10-2018 3:55pm

"Away from the sea" was a poor addition really

sashafierce · 29-10-2018 3:57pm

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Hhugedick · 29-10-2018 3:58pm

sashafierce wrote: »

I commuted from Portlaoise for 4 months and it was fine as I have parking at work but I don't enjoy living down the country which is why I would most likely like to buy in a Dublin suburb

Well you are definite on that and that's good. I wasn't and rushed in and bought because I couldn't do the renting and sharing any longer. I just didn't factor in commute and the fact the town was so small. If I was you I would stick to your guns, country not for you. Continue saving, bite the bullet and go back to your parents to save for a while. I wouldn't worry to much about prices continuing to rise because they won't. There starting to plateau already, I think a correction is on the way. Oh by the way keep an eye on sallins house market.. Still a bit affordable, close to Dublin and Lucan. If I could move I would try to get to sallins.

Fol20 · 29-10-2018 3:59pm

sashafierce wrote: »

I get that and I'm not doubting people have more saved but people on here seem to think that everyone in their late 20s are pushing the 80k mark and that's not accurate. I've a good job, a degree requiring job it's not like I'm on minimum wage here.

All I wanted was some tips not to be told my saving is white and that I'm coming across this that and the other.

Happy for this to be closed now

The average income in Ireland is about 45 I believe. I do know of people on circa 70-80k at around the 30 year mark. Not the norm but it can be done.

Tbh of you want to save and it sounds like your not able to save at the moment. It might be time to cut back on the expenses. Less holidays. Stop getting coffees outside. Bring your own lunch to work. Have one drink instead of two when you head out and maybe every second time you head out. Stay at home. Same for cinema. You mentioned you don’t like house sharing., how about house sharing for the next 3+ years to save more money and in the back of your head, you knows it won’t be forever until you can afford your own place.The list goes on. You either need to find a way to increase your income or cut back on the expenses or potentially both if possible.

Geuze · 29-10-2018 4:02pm

sashafierce wrote: »

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House buying in Ireland is always frustrating, and especially so these days.

I share your pain.

I'm sorry if any of my posts were negative.

Stay positive.

Bluefoam · 29-10-2018 4:02pm

Hhugedick wrote: »

I just didn't factor in commute and the fact the town was so small.

Jaysus, they are definitely two things I would have on my list of considerations if I was spending hundreds of thousands on something that had the potential to effect my life.

sashafierce · 29-10-2018 4:07pm

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Hhugedick · 29-10-2018 4:08pm

Wildly Boaring wrote: »

Ha
I've a mate constantly extolling the great train to and from portarlington.

Your main gripe seems to be you can't get home after pints.
Maybe try joining some clubs etc and socialising where you live like the rest of us.

Ah no man its more than getting home after pints, I wish it was only that. I lived in London, Boston and Dublin covering 15 years. I loved the three cities, I rushed in to buying in portarlington and didn't do my homework. Its a combination of a few things. Anyway its getting easier, I just miss my Sunday morning walk on the bull wall.. I suppose we can't have everything

Hhugedick · 29-10-2018 4:12pm

Bluefoam wrote: »

Jaysus, they are definitely two things I would have on my list of considerations if I was spending hundreds of thousands on something that had the potential to effect my life.

Its far from a couple of hundred thousand I spent. Why do you think I moved there?

sashafierce · 29-10-2018 4:12pm

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Wildly Boaring · 29-10-2018 4:26pm

Hhugedick wrote: »

Ah no man its more than getting home after pints, I wish it was only that. I lived in London, Boston and Dublin covering 15 years. I loved the three cities, I rushed in to buying in portarlington and didn't do my homework. Its a combination of a few things. Anyway its getting easier, I just miss my Sunday morning walk on the bull wall.. I suppose we can't have everything

Serious walks around there. Away up the slieve blooms. Nature better than any man made environment for the head

Hhugedick · 29-10-2018 4:43pm

sashafierce wrote: »

And portarlingon of all places! Would you try move to Portlaoise instead? Or go walk in emo that's a decent Sunday walk

Oh know its the other direction I'm going, back towards Dublin or as close as I can get. Portarlington is grand now, it just took a while to get use to it. I grew up in knocklyon, my school friends play 5 a side soccer once a week and I drove to it for 3 years after work, I had to pretty much give it up recently due time and costs involved. Needless to say all my mates lived 15 minutes from all weather pitches. Portarlington has a few dubs like me, would move back to Dublin in a heartbeat.

Hhugedick · 29-10-2018 4:45pm

Wildly Boaring wrote: »

Serious walks around there. Away up the slieve blooms. Nature better than any man made environment for the head

Am with you on that one, nature anyday

the_syco · 29-10-2018 4:51pm

sashafierce wrote: »

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A few. One mate got married, and bought a house in Enfield with his wife. He works in Dublin. If you want a house in Dublin, you either have to get a job that pays better, or [sarc] pop out 50 or so sprogs whilst unemployed [/sarc].

sashafierce wrote: »

I'm on a decent wage for my line of work and I'm happy in my job so don't wanna leave. It's just upsetting that I've been saving for the most part of my 20s and not I'm at a bit of a dead end

Well then, be quite. You either push yourself out of your comfort zone to be able to afford a house in Dublin, or buy one within a 2 hour commute of Dublin.

But you say your job is not in Dublin city centre, so maybe look into getting a car so you can drive direct to the job, and avoid the CC? A previous job was in Swords. Commute was 1.5 to 2 hours by public transport, but would've been only 40 minutes if I had a car at the time.

sashafierce wrote: »

It's renting with strangers that just gets me down and makes me wanna buy

Would advise renting from Facebook pages (eg; Rentdublin & RentalDublin) where you meet the tenants, and look for a house that you like both the house & the tenants. Renting a place through a landlord means you won't really know who you're renting with until it's too late. Rented a place via the tenants in Toronto, and it made living there a lot nicer.

sashafierce wrote: »

An hour away isn't always an hour away.... I lived in Portlaoise for 4 months which is an hour away but in commute terms is 2hours+ away

I call a spade a spade. If it's 2 hours commute, it's two hours away.

sashafierce wrote: »

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Take it as it is; a wake up call.

Heck, at least the houses here are somewhat affordable! In Toronto you either buy what's no better than a mobile home on the flight path of Pearson in Mississauga, or you buy a house "only" an hours drive away (if there's no traffic), in the likes of Orangeville if you're lucky.

Hhugedick · 29-10-2018 5:01pm

the_syco wrote: »

A few. One mate got married, and bought a house in Enfield with his wife. He works in Dublin. If you want a house in Dublin, you either have to get a job that pays better, or [sarc] pop out 50 or so sprogs whilst unemployed [/sarc].

Well then, be quite. You either push yourself out of your comfort zone to be able to afford a house in Dublin, or buy one within a 2 hour commute of Dublin.

But you say your job is not in Dublin city centre, so maybe look into getting a car so you can drive direct to the job, and avoid the CC? A previous job was in Swords. Commute was 1.5 to 2 hours by public transport, but would've been only 40 minutes if I had a car at the time.

Would advise renting from Facebook pages (eg; Rentdublin & RentalDublin) where you meet the tenants, and look for a house that you like both the house & the tenants. Renting a place through a landlord means you won't really know who you're renting with until it's too late. Rented a place via the tenants in Toronto, and it made living there a lot nicer.

I call a spade a spade. If it's 2 hours commute, it's two hours away.

Take it as it is; a wake up call.

Heck, at least the houses here are somewhat affordable! In Toronto you either buy what's no better than a mobile home on the flight path of Pearson in Mississauga, or you buy a house "only" an hours drive away (if there's no traffic), in the likes of Orangeville if you're lucky.

Jesus I'm shocked Toronto is Dearing than Dublin, I always had the impression that it was a kinda of a German styled rent controlled sort of a city. The complete opposite to the big expensive city's around the world.

Addle · 29-10-2018 5:13pm

I'm amazed that this issue is such a shock to you OP.

Hhugedick · 29-10-2018 5:17pm

Addle wrote: »

I'm amazed that this issue is such a shock to you OP.

I know its shocking isn't it. Who would have thought it? Absolutely flabbergasted and shocked I am.

messy tessy · 29-10-2018 5:26pm

sashafierce wrote: »

I don't drink, bring lunch every day and have never bought a coffee in my life. I do however love holidays. Honestly they're my only real passion in life is travelling. From Japan to Brazil I've been to them all and I honestly think I'd rather never own a place than not travel!

I'm a bit confused by this thread...

You really need to sort out your priorities. Everyone makes sacrifices when looking to buy a house, even couples. If travel is your thing that's great! If buying your own place is your main priority then do everything you can to work towards that.
Realistically it is going to be alot tougher to get somewhere on a single salary, but if you want something badly enough you'll find a way, if not you'll find an excuse.

Looking for some advice on my situation

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