How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

bigpink · 12-02-2019 3:24pm

clonesbabe wrote: »

This is achievable with a long term plan and commitment. I am a single parent of one child and I now own my house outright.

The first thing I did was clear all loans I had, stopped impulse buying, got rid of my credit card, then I saved like mad. I even sold things I no longer needed like kids clothes that were outgrown, toys that were no longer played with.

I will also say I had visions way above my station when It came to where I wanted to live but I had to let them go and settled for a house that was cheap, in a good area and I put the money into doing it up over a number of years when I could afford it. Its now paid off in full and I am saving for my "forever home".

Good luck

Would you really move again?

angel eyes 2012 · 12-02-2019 3:33pm

I started with the old SSIA back in 2001 (I think). I was in college at the time working part time but my mother encouraged me to save little and often from an early age. I commenced working in 2003 and continued to save, increasing the amount here and there. While I have been consistently working since then - in that I never took time off to live abroad - I did go on some holidays, bought nice clothes, went out etc. I was also very fortunate in that I lived at home for most of my 20's and was very grateful to have that opportunity.

By the time I met my husband, we had decent savings built up between us but we didn't have to live a frugal life to achieve the overall aim of buying a house.

Timing is a massive factor when purchasing a house and we were lucky in that we were able to buy together at the height of the recession in a decent area. Had I met my husband say around 2006, it's quite possible that we would be living either in an apartment in negative equity or in a location far from home.

I'd suggest that the prevailing message from this thread, is to commence saving, ideally by a monthly standing order, even if the amount is small.

clones1980 · 12-02-2019 3:41pm

bigpink wrote: »

Would you really move again?

Absolutely. Well I keep saving and if I see a house I love well and good but I am in rush.

miamee · 12-02-2019 3:46pm

angel eyes 2012 wrote: »

I'd suggest that the prevailing message from this thread, is to commence saving, ideally by a monthly standing order, even if the amount is small.

I don't remember where I read this (probably some 'inspirational' Facebook meme :P) but you can also apply it to saving:

The best time to plant a tree was 20 years ago. The second best time to plant one is today.

--

I'd say to anyone just do it, however much you can afford. If you're not stretched in month/week one, increase the amount and keep increasing it until you feel you've reached your limit for the moment. If you have anything left at the end of the month before payday, add that to savings too. When a loan repayment ends or you get a raise, increase savings accordingly. Sometimes you'll have to decrease what you are saving too, things happen but keep on saving whatever you can. It all adds up.

There are some very inspirational posts in this thread for big time saving, I've enjoyed reading them and they have given me some ideas of my own

bigpink · 12-02-2019 3:58pm

clonesbabe wrote: »

Absolutely. Well I keep saving and if I see a house I love well and good but I am in rush.

Fair play if you can afford a second house
Do you not like your current property?

Sunrise_Sunset · 12-02-2019 4:02pm

We did it. Well, we have the deposit saved, we just have to find a place now. Family of four with one salary. Only started saving in our early thirties after we had our first kid. Budgeting is definitely the key factor. If it's what you want, then you have to make sacrifices in other areas of your life.

lainey_d_123 · 12-02-2019 4:04pm

pwurple wrote: »

*eyeroll* Sure, I'm dead already. I've never been across africa, syria, or iceland,or lived in the US and switzerland. Never abseiled a glacier, never saw a sunrise over a hawaiian volcano. Never had a family, never rode motorbikes across europe. Never stood on standby in Austin texas for 40 hours waiting for jumpseats to be available, and heard some crazy stories. Except, wait, yes I did all those things. Within my means, while working.

Only one parent works in our house too. To do that, you need to spend less. Kinda like the 70's.

Back in the 70's (and yes, I was there too) we all had way less. We had one car, that didn't have back seats. Family of 7. All shared bedrooms. No mobiles, no internet, no meals out, no cafe coffee, no holidays to anywhere on an airplane. I didn't see an elephant in real life until I was 24. The Zoo? Don't be silly, that's crazy money.

You want more, like people generally have now, you pay more for it. That's how it works.

There was a thread in PI recently where the whole of boards seemed to think it was ludicrous that a guys new girlfriend didn't think a telly and a subscription was necessary in her house. She's right, it's a luxury. I remember my parents buying their first one.

And actually, if you want to be a bit more like people who you think have what you want... a house, a lifestyle, whatever, read and pay attention to what they say about getting there. Learn from their experience. Also also learn from people who f-ed it up. Most of the time they are bitter , but you can learn from that too.

I used to read heaps of books on this when I was in my twenties, and now, I read a good bit on FatFIRE, and LEANFire, for planning my retirement. People who have money, don't spend it on unimportant stuff, and have learned how to earn it.

Ah, would you give over? If you were around in the 70s, then you have no idea what it's like to be 30ish now. I love how people from your generation think they worked harder and sacrificed more and conveniently forget how much more affordable housing was when you were young.

All this 'don't go to Starbucks' sh1te is just that - sh1te. I could never buy another latte in my life and it wouldn't make a blind bit of difference regarding being able to get a mortgage or not. I'm a single woman in my early thirties and you know why I can't afford a house?

- Didn't get any help from parents for college, or a grant, so had to take out loans of over 3k euros a year, in addition to working every summer and term time.
- Graduated right into the 2008 recession, and spent a few years taking any old sh1tty job going, just to pay the rent.
- While doing the above, I was paying a fortune in rent and bills. Well over half my paycheck every single month gone on just survival, before I even got into paying for food, student loan repayments, travel to work, etc.
- Have a chronic illness which costs me a lot of money in doctors visits and medication costs, am not entitled to a medical card.
- Still earning a below average wage now in my thirties due to the above issues and have only just been able to start saving anything at all. Still paying a fortune to rent a room and struggle to save anything.

I've never had a car. Never even had a driving lesson because I couldn't afford them. Never gone out drinking every single weekend. Never gone on a 'gap year'. I simply just have never had any money. As a single person who has always had to rent since leaving school, almost all my money has gone on essentials. There are plenty of people like myself.

I love how so many of the people here are thinking they're great for saving a mortgage when they have a partner and both are earning a decent wage. The funniest one is the guy whose partner already had savings. What are the rest of us meant to do, magic up a partner who already has money saved in the bank?

clones1980 · 12-02-2019 4:05pm

bigpink wrote: »

Fair play if you can afford a second house
Do you not like your current property?

Apologies I should have made that clearer... I do intend to sell my house and the money from that along with my savings will be used to purchase a new home. I had originally intended to keep the house and rent it out but tbh I don't think I like the idea of dealing with tenants.

Absolutely I do like my house but it is a 2 bed house that suited our circumstances when I bought it and even now. I just know that as my son gets older I would love an extra bedroom and a second living room.

DublinWriter · 12-02-2019 4:15pm

lainey_d_123 wrote: »

Ah, would you give over? If you were around in the 70s, then you have no idea what it's like to be 30ish now. I love how people from your generation think they worked harder and sacrificed more and conveniently forget how much more affordable housing was when you were young.

I totally agree. I'm 49 and I really wouldn't like to be starting over now.

People tend to belittle millennials, but I really think that they're the 'beaten generation' financially when you look at all the debt they're coming out of college with.

Cyrus · 12-02-2019 4:15pm

lainey_d_123 wrote: »

Ah, would you give over? If you were around in the 70s, then you have no idea what it's like to be 30ish now. I love how people from your generation think they worked harder and sacrificed more and conveniently forget how much more affordable housing was when you were young.

All this 'don't go to Starbucks' sh1te is just that - sh1te. I could never buy another latte in my life and it wouldn't make a blind bit of difference regarding being able to get a mortgage or not. I'm a single woman in my early thirties and you know why I can't afford a house?

- Didn't get any help from parents for college, or a grant, so had to take out loans of over 3k euros a year, in addition to working every summer and term time.
- Graduated right into the 2008 recession, and spent a few years taking any old sh1tty job going, just to pay the rent.
- While doing the above, I was paying a fortune in rent and bills. Well over half my paycheck every single month gone on just survival, before I even got into paying for food, student loan repayments, travel to work, etc.
- Have a chronic illness which costs me a lot of money in doctors visits and medication costs, am not entitled to a medical card.
- Still earning a below average wage now in my thirties due to the above issues and have only just been able to start saving anything at all. Still paying a fortune to rent a room and struggle to save anything.

I've never had a car. Never even had a driving lesson because I couldn't afford them. Never gone out drinking every single weekend. Never gone on a 'gap year'. I simply just have never had any money. As a single person who has always had to rent since leaving school, almost all my money has gone on essentials. There are plenty of people like myself.

I love how so many of the people here are thinking they're great for saving a mortgage when they have a partner and both are earning a decent wage. The funniest one is the guy whose partner already had savings. What are the rest of us meant to do, magic up a partner who already has money saved in the bank?

you cant help getting ill, thats just unfortunate, but it sounds like your choice of college degree and subsequent career choices havent been great. you have to take that one on the chin.

also for various other reasons times in the 70s and 80s were very hard too, this thing that every generation assumes they had it harder than the last isnt always factual either ( i am in my 30s by the way)

12-02-2019 4:18pm

clonesbabe wrote: »

This is achievable with a long term plan and commitment. I am a single parent of one child and I now own my house outright.
...........

Do you earn megabucks or was the house really inexpensive?

pwurple · 12-02-2019 4:18pm

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

lainey_d_123 wrote: »

Ah, would you give over? If you were around in the 70s, then you have no idea what it's like to be 30ish now. I love how people from your generation think they worked harder and sacrificed more and conveniently forget how much more affordable housing was when you were young.

All this 'don't go to Starbucks' sh1te is just that - sh1te. I could never buy another latte in my life and it wouldn't make a blind bit of difference regarding being able to get a mortgage or not. I'm a single woman in my early thirties and you know why I can't afford a house?

- Didn't get any help from parents for college, or a grant, so had to take out loans of over 3k euros a year, in addition to working every summer and term time.
- Graduated right into the 2008 recession, and spent a few years taking any old sh1tty job going, just to pay the rent.
- While doing the above, I was paying a fortune in rent and bills. Well over half my paycheck every single month gone on just survival, before I even got into paying for food, student loan repayments, travel to work, etc.
- Have a chronic illness which costs me a lot of money in doctors visits and medication costs, am not entitled to a medical card.
- Still earning a below average wage now in my thirties due to the above issues and have only just been able to start saving anything at all. Still paying a fortune to rent a room and struggle to save anything.

I've never had a car. Never even had a driving lesson because I couldn't afford them. Never gone out drinking every single weekend. Never gone on a 'gap year'. I simply just have never had any money. As a single person who has always had to rent since leaving school, almost all my money has gone on essentials. There are plenty of people like myself.

I love how so many of the people here are thinking they're great for saving a mortgage when they have a partner and both are earning a decent wage. The funniest one is the guy whose partner already had savings. What are the rest of us meant to do, magic up a partner who already has money saved in the bank?

Lols. Sums. Sure I can't possibly remember 2 years ago.

Also, and I don't know how many times I've got to repeat myself here, the post you are quoting was a response to the question of how people in the 70's were able to buy houses on one income. It's because THEY HAD LESS STUFF! I'm not saying we should all live like the 70's now, obviously we don't. But this is the reason it takes two incomes now... we all have shedloads more schtuff now, to pay for.

You're dead right. You can't save until you have an income to put away. That's why my initial post had "Work work work". That's step one. Then you can make savings. No point in saving a pittance and not progressing in work.

clones1980 · 12-02-2019 4:23pm

Augeo wrote: »

Do you earn megabucks or was the house really inexpensive?

The house was really inexpensive. It needed work but was structurally sound.

DublinWriter · 12-02-2019 4:25pm

pwurple wrote: »

There was a thread in PI recently where the whole of boards seemed to think it was ludicrous that a guys new girlfriend didn't think a telly and a subscription was necessary in her house. She's right, it's a luxury. I remember my parents buying their first one.

I remember reading that and it sounded more like a bigger control issue on her part, they were paying joint rent and he ended the relationship.

lainey_d_123 · 12-02-2019 4:28pm

Cyrus wrote: »

you cant help getting ill, thats just unfortunate, but it sounds like your choice of college degree and subsequent career choices havent been great. you have to take that one on the chin.

also for various other reasons times in the 70s and 80s were very hard too, this thing that every generation assumes they had it harder than the last isnt always factual either ( i am in my 30s by the way)

But that wasn't an issue for that generation. Degrees were valued. It was that generation who told us 'any degree from a good college will get you far in life.' That was true right up to around 2008. Nobody can possibly know how the economy will change in the few years they're in college, how technology will move on or how valued their skillset will be. Luck plays an enormous part. Nobody who has chosen a solid degree subject and done well in it should be financially crippled into their thirties. Nobody's choice of degree at the age of 17 should decide whether or not they'll be able to buy a house, for Christ's sake!

DublinWriter · 12-02-2019 4:29pm

pwurple wrote: »

Also, and I don't know how many times I've got to repeat myself here, the post you are quoting was a response to the question of how people in the 70's were able to buy houses on one income. It's because THEY HAD LESS STUFF!

True in part, but the main driver is the exponential growth of house prices as a ratio of the average industrial wage.

Here's the science bit:
http://finfacts.ie/irishfinancenews/article_1012464.shtml

Graham · 12-02-2019 4:30pm

pwurple wrote: »

how people in the 70's were able to buy houses on one income. It's because THEY HAD LESS STUFF! I'm not saying we should all live like the 70's now, obviously we don't. But this is the reason it takes two incomes now... we all have shedloads more schtuff now, to pay for.

It's not just that people has less stuff in the 70s. Most families in the 70s as you point out had 1 income, this meant buyers could only drive up prices to the borrowing power of 1 income.

As 2 income households became more common, house prices crept up (leapt-up) to the borrowing power of 2 incomes.

pwurple · 12-02-2019 4:30pm

lainey_d_123 wrote: »

But that wasn't an issue for that generation. Degrees were valued. It was that generation who told us 'any degree from a good college will get you far in life.' That was true right up to around 2008. Nobody can possibly know how the economy will change in the few years they're in college, how technology will move on or how valued their skillset will be. Luck plays an enormous part. Nobody who has chosen a solid degree subject and done well in it should be financially crippled into their thirties. Nobody's choice of degree at the age of 17 should decide whether or not they'll be able to buy a house, for Christ's sake!

What degree did you do?

I think earning power is fairly vital to determining if you can buy anything, to be honest.
We were advised, in the 80's and 90's , to either get a trade, or a professional degree.

lainey_d_123 · 12-02-2019 4:31pm

pwurple wrote: »

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

Lols. Sums. Sure I can't possibly remember 2 years ago.

Also, and I don't know how many times I've got to repeat myself here, the post you are quoting was a response to the question of how people in the 70's were able to buy houses on one income. It's because THEY HAD LESS STUFF! I'm not saying we should all live like the 70's now, obviously we don't. But this is the reason it takes two incomes now... we all have shedloads more schtuff now, to pay for.

You're dead right. You can't save until you have an income to put away. That's why my initial post had "Work work work". That's step one. Then you can make savings. No point in saving a pittance and not progressing in work.

But plenty of people 'work, work, work' and still can't save much, if anything. Where is this endless supply of good jobs you seem to think exists? I don't have a bad job, but by the time I've paid my rent, bills, food, transport, medical costs and other odds and ends, I can barely save a cent.

You obviously didn't read my post, because I don't have any of this 'stuff' you keep harping on about. What 'stuff'?

12-02-2019 4:37pm

lainey_d_123 wrote: »

But that wasn't an issue for that generation. Degrees were valued. It was that generation who told us 'any degree from a good college will get you far in life.' That was true right up to around 2008. ............

Dunno about that, plenty good colleges have degrees that don't line the pocket.
A BA in history or English won't see you on megabucks........... nursing is a degree and well.....no need to say anymore on that one :pac:
I was in school in the 90s..........I wouldn't have done a BA in a fit as I was sure I wanted to earn a nice few quid from work. I couldn't see how a BA would facilitate that, generally speaking without further study, luck or some other factor.

pwurple · 12-02-2019 4:40pm

lainey_d_123 wrote: »

But plenty of people 'work, work, work' and still can't save much, if anything. Where is this endless supply of good jobs you seem to think exists? I don't have a bad job, but by the time I've paid my rent, bills, food, transport, medical costs and other odds and ends, I can barely save a cent.

You obviously didn't read my post, because I don't have any of this 'stuff' you keep harping on about. What 'stuff'?

You have internet access. Did they have that in the 70's? Did they have mobile phones? Did they have insulation in their houses? Our lives are far more expensive now, at a very basic level. And people expect things like living with more space. Ensuite bathrooms, not sharing. That's how it is now.

Where are the jobs... I don't think I've ever worked at a time when there were more jobs available. Any careers websites has hundreds of jobs.

What's your degree?

yourdeadwright · 12-02-2019 5:19pm

Its tuff one for single people living in Dublin who want to buy I really do feel for them ,

I Know a lad in his 30's who had to refuse a promotion and a slight pay rise, which could have lead to a much better paid job in the long run ,

His reason was that if he took the pay rise he wouldn't be able to get the HAP anymore and then it would actually cost him more over the year paying for rent on his own ,

He really didn't want to do this but financially it would have made no sense to him and his situation

To add to that he was getting 34 grand a year after tax so gets 1200 a month HAP , So his pay rise would have to be over 14 grand for him not to lose money, its a quite crazy system

snotboogie · 12-02-2019 5:24pm

If I was young, college educated, without responsibilities and sacrificing all disposable income to save for a house, I would take a step back and really think about why I wanted to buy in that area or city, why I was working a job that afforded me nothing more than subsistence living and what I could do to change my situation. I know people who sacrificed their youth for incredible careers or to lift their family out of a desperate situation, that’s worth it, a semi d in Dublin or Cork isn’t.

Eric Cartman · 12-02-2019 5:25pm

pwurple wrote: »

You have internet access. Did they have that in the 70's? Did they have mobile phones? Did they have insulation in their houses? Our lives are far more expensive now, at a very basic level. And people expect things like living with more space. Ensuite bathrooms, not sharing. That's how it is now.

Where are the jobs... I don't think I've ever worked at a time when there were more jobs available. Any careers websites has hundreds of jobs.

What's your degree?

Not saying this poster has done any of this but in the old days people went and got a degree that had a good job out at the end , then degrees became the done thing and you had people cruising through doing english and anthropology through arts, now you have crap like masters in gender studies etc... a traditional degree thats now almost meaningless is journalism . People need to re focus on getting degrees with real careers at the end , not just the easiest / least hours / warms their little lefty heart degrees.

12-02-2019 5:31pm

yourdeadwright wrote: »

........Its tuff one for single people living in Dublin who want to buy I really do feel for them ,.....

To add to that he was getting 34 grand a year after tax so gets 1200 a month HAP , So his pay rise would have to be over grand for him not to lose money, its a quite crazy system

He's on almost €3000/month take home and get's HAP?

yourdeadwright · 12-02-2019 5:38pm

Augeo wrote: »

He's on almost €3000/month take home and get's HAP?

According to there websites as single person you qualify in Dublin if you earn under 35 grand after tax .That would be for 1200 towards rent, The rent allowance goes up depending how many kids and so on

Brego888 · 12-02-2019 5:40pm

Augeo wrote: »

He's on almost €3000/month take home and get's HAP?

Yeah surely this can't be true?

Geuze · 12-02-2019 5:41pm

Brego888 wrote: »

Yeah surely this can't be true?

2016 HAP income limits

https://www.housing.gov.ie/sites/default/files/migrated-files/en/Publications/DevelopmentandHousing/Housing/table_with_2016_income_limits.pdf

12-02-2019 5:42pm

yourdeadwright wrote: »

According to there websites as single person you qualify in Dublin if you earn under 35 grand after tax .That would be for 1200 towards rent.........

If that's true it's a total joke.........I reckon it's not true tbh.

yourdeadwright · 12-02-2019 5:43pm

Augeo wrote: »

If that's true it's a total joke.........I reckon it's not true tbh.

It is true, someone just posted the section form there website,

At the moment the general public don't seem to be wide to it ,when they are it'll be knocked on the head ,

At the moment the usual suspects who know every way to save few quid are all over it ,

yourdeadwright · 12-02-2019 5:46pm

You have to go through checks and be assed .
For instance they check if your parents can house you and things like that,

Caliden · 12-02-2019 5:47pm

Augeo wrote: »

If that's true it's a total joke.........I reckon it's not true tbh.

It is true.

Like someone else said, I don't think people realise that it's 35k AFTER tax

Claw Hammer · 12-02-2019 5:53pm

Jack0125 wrote: »

A secondary school teacher said to the wood work class one day...you need to be saving a quarter of your net pay from your first job onwards

Its a good mantra...save from 23 to 30 years 5k a year. 40k deposit.

Cant arrive at 30 with no savings in the bank.

What sort of an eejit would work for 20k net a year. That's less than €400 a week.

milhous · 12-02-2019 5:55pm

Little Less Conversation wrote: »

I wasn't thinking of the future in my 20s, I was useless at saving and who wants a life long commitment in your 20s. The recession hit in my late 20s and I gave up work to go back to college. Then I spent some time unemployed. I eventually got some work but the pay was horrible. I'm upskilling again because a change in jobs wouldn't have done it.

Just how do people do it. I'm a long way off from getting any kind of a deposit together and even if I can get something, I don't think a bank would even look at me.

I'd be quite happy in a mobile home except you need planning permission for that and the only way you would get granted planning permission for a mobile home is if it's part of a new build and it's used as temporary accommodation.

How are we meant to get our own place?

Well I suppose most people who are home owners in their early 30's may have left school, did a worthwhile degree in college and worked since, maybe took a year or two to **** around a bit with travelling but were still career focused. Then saved a bit in their late 20's and bought.

Or worked straight out of school, worked up in their industry and saved/bought.

I'd say some are couples, Some may have had help from parents, some inheritance, some frugal, some opportunistic.

I think 5 or 10 year plans are a great tool.

yourdeadwright · 12-02-2019 5:58pm

Caliden wrote: »

It is true.

Like someone else said, I don't think people realise that it's 35k AFTER tax

The general public seem to not have coped it, Anyone iv spoke to haven't had a clue

If you earn say 34500 after tax you can live the same as someone making 48900 after tax by getting on the Hap.

A single person in Dublin will be saving 14400 on rent a year,

bigpink · 12-02-2019 6:34pm

Claw Hammer wrote: »

What sort of an eejit would work for 20k net a year. That's less than €400 a week.

Many people do that doesn’t make them eejits

upinsmoke · 12-02-2019 6:51pm

klaaaz wrote: »

The vast majority of replies here are from dual income buyers, the question was "someone" not "couples" I think we know the answer for a single person, it's extremely hard to afford a house on their own presently. Maybe easier to afford an apartment though.

Not really outside of Dublin to be fair. Even if your on 35K will be able to get something.

Little Less Conversation · 12-02-2019 7:13pm

What is this HAP scheme? Can I possibly have my rent paid for me?

Eric Cartman · 12-02-2019 8:07pm

Little Less Conversation wrote: »

What is this HAP scheme? Can I possibly have my rent paid for me?

If youre a traveller with a load of kids and double digit criminal convictions they pay all your rent for a city centre apartment

lainey_d_123 · 12-02-2019 8:14pm

pwurple wrote: »

You have internet access. Did they have that in the 70's? Did they have mobile phones? Did they have insulation in their houses? Our lives are far more expensive now, at a very basic level. And people expect things like living with more space. Ensuite bathrooms, not sharing. That's how it is now.

Where are the jobs... I don't think I've ever worked at a time when there were more jobs available. Any careers websites has hundreds of jobs.

What's your degree?

That's a silly argument. Nobody had mobile phones or internet then so they didn't miss them, but they did have things which were expensive at the time, things which are now very cheap. I've never had an ensuite bathroom, so not sure how you think people 'expect' those. I live in a shared house, and share a bathroom with four strangers. I can't afford an ensuite room.

Sure, there are jobs, but the point is they don't pay enough. My dad had a very average job at my age which enabled him to buy a 3-bed semi-detached house in Dublin and support a family of five. I have the same kind of average job and I can't even afford to rent on my own. And yet instead of acknowledging this basic fact, people are rabbiting on about not going to Starbucks.

GAA Beo · 12-02-2019 8:17pm

A lot of landlords don't take HAP tenants. It can be very difficult to find one who will.

alexmalalex · 12-02-2019 8:26pm

pwurple wrote: »

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

Lols. Sums. Sure I can't possibly remember 2 years ago.

Also, and I don't know how many times I've got to repeat myself here, the post you are quoting was a response to the question of how people in the 70's were able to buy houses on one income. It's because THEY HAD LESS STUFF! I'm not saying we should all live like the 70's now, obviously we don't. But this is the reason it takes two incomes now... we all have shedloads more schtuff now, to pay for.

You're dead right. You can't save until you have an income to put away. That's why my initial post had "Work work work". That's step one. Then you can make savings. No point in saving a pittance and not progressing in work.

Your assumption is wrong, here. While it is true to say people had less stuff, this is absolutely not the reason for non-affordability of housing. The issue of affordability is due to the price of housing, and the fact that greedy banks, developers, and real estate companies want to maximize their margin.

And please explain what you mean by work, work, work? It doesn't make sense. As I have said repeatedly, the key is earnings potential. if I'm a junior doctor, can I earn more money by delivering pizzas at the weekend? yes, in the short-term. But in the long-term I won;t make consultant.

Your advice is misleading, and you seem out of touch with the reality of the property market.

(P.S. Nothing wrong with self-esteem, so long as it is counterbalanced with some humility and who said I was Irish?).

lainey_d_123 · 12-02-2019 8:33pm

Eric Cartman wrote: »

If youre a traveller with a load of kids and double digit criminal convictions they pay all your rent for a city centre apartment

Basically. The people who are really fcked are the ones who are not quite poor enough to qualify for help. People who earn above average (or are lucky enough to have a partner to greatly reduce rent/bills) can save enough to eventually buy a house and be financially secure. People who earn nothing get given a medical card, house, etc. People who are taking home 1500 euro a month and paying out over half of that to rent a room and pay the bills and get to work every day, how are they supposed to do it?

lainey_d_123 · 12-02-2019 8:39pm

alexmalalex wrote: »

Your assumption is wrong, here. While it is true to say people had less stuff, this is absolutely not the reason for non-affordability of housing. The issue of affordability is due to the price of housing, and the fact that greedy banks, developers, and real estate companies want to maximize their margin.

And please explain what you mean by work, work, work? It doesn't make sense. As I have said repeatedly, the key is earnings potential. if I'm a junior doctor, can I earn more money by delivering pizzas at the weekend? yes, in the short-term. But in the long-term I won;t make consultant.

Your advice is misleading, and you seem out of touch with the reality of the property market.

(P.S. Nothing wrong with self-esteem, so long as it is counterbalanced with some humility and who said I was Irish?).

And also the fact that not everyone can be a high earner. That's basic economics. It used to be that pretty much anyone with a halfway decent job (or not even) could buy a modest house. Now, you need to be either a very high earner or a couple both earning quite good money just to buy the same kind of modest house.

In the nineties, my family bought a house for 65,000. My dad at the time was earning around 40,000 a year. The house wasn't even double his annual salary. That same house is now worth 350,000 and that same job is paying 55,000. How does this very basic maths escape so many people? House prices have skyrocketed, wages have not.

Yurt2 · 12-02-2019 9:04pm

lainey_d_123 wrote: »

And also the fact that not everyone can be a high earner. That's basic economics. It used to be that pretty much anyone with a halfway decent job (or not even) could buy a modest house. Now, you need to be either a very high earner or a couple both earning quite good money just to buy the same kind of modest house.

In the nineties, my family bought a house for 65,000. My dad at the time was earning around 40,000 a year. The house wasn't even double his annual salary. That same house is now worth 350,000 and that same job is paying 55,000. How does this very basic maths escape so many people? House prices have skyrocketed, wages have not.

You missed the memo: people who can't afford a house are morally defective and eat too many avocados / are on the dole or both. They should all live in abandoned famine cottages in Leitrim and subsist off rhubarb until they learn coding and can work for some IDA subsidised crowd in Sandyford Industrial Estate. After that, we might let them live in Meath... maybe.

Sheepdish1 · 12-02-2019 10:11pm

Wood wrote: »

Currently single ( fiancé who is a single parent). Had a crap job then got promoted.

Have about 5% of a deposit. Basically begged stole and borrowed to make the 10%.

Still not approved. Mortgage repayments are 40% of current rent.

So to answer your question. I have no idea.

Income is over 100k a year beyween us. Can't get a mortgage for 200k.

Why can’t you get approved for 3.5 times your income ?

WrigleysExtra · 12-02-2019 10:16pm

Reading the OPs post it just screams of excuses. Wasn't thinking of his future, poor at saving, unemployed at one point blah blah blah. How about take some damn responsibility for your own actions and stop blaming everyone else.

GreeBo · 12-02-2019 10:18pm

OP you are basically saying "how do people run a marathon? I never did any exercise or training and when i get to the race I'm surrounded by all these fit experienced people who are better than me. I don't understand it. What can i do?!"

People in their thirties buy houses because they saved something when they were in their twenties. You didn't have to live like a hermit, just not like the world was ending tomorrow. You have the most disposable income at the start and end of your life and the least in the middle. Hence the middle is a bad time to only start worrying about these things.

I'm afraid to even mention pensions tbh.

alexmalalex · 12-02-2019 10:52pm

GreeBo wrote: »

OP you are basically saying "how do people run a marathon? I never did any exercise or training and when i get to the race I'm surrounded by all these fit experienced people who are better than me. I don't understand it. What can i do?!"

People in their thirties buy houses because they saved something when they were in their twenties. You didn't have to live like a hermit, just not like the world was ending tomorrow. You have the most disposable income at the start and end of your life and the least in the middle. Hence the middle is a bad time to only start worrying about these things.

I'm afraid to even mention pensions tbh.

You know that is complete rubbish! The problem is that the fit and experienced people cannot run the marathon because the marathon is now 52 miles. The goalpost has changed.

The logic makes no sense - if someone doesn't have a mortgage and a family, then they likely have as much disposable income as a 25 year old.

Why mention pensions then?

GreeBo · 12-02-2019 11:08pm

alexmalalex wrote: »

You know that is complete rubbish! The problem is that the fit and experienced people cannot run the marathon because the marathon is now 52 miles. The goalpost has changed.

The logic makes no sense - if someone doesn't have a mortgage and a family, then they likely have as much disposable income as a 25 year old.

Why mention pensions then?

No the marathon is the same length for all the other 30 somethings I'm afraid. Some of them just thought about the future and planned for it. The OP seems to be surprised that houses cost money.

I'm just outside the OPs range and have traded up more then once, because i planned it.

Why bring up someone without a mortgage? Why not use lotto winners to prove some other irrelevant point?

I brought up pensions so hopefully the OP doesn't get another surprise when they are 70 and are shocked to discover it still costs money to live.
Someone who didn't save any money when they were young probably doesn't have a pension now either.

How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

Comments