Buy house, don't pay mortgage, live rent-free for 9 years. MOD WARNING POST #268

Cuddlesworth · 19-05-2020 9:12am

Maitguel wrote: »

There are no immediate disadvantages to not paying your mortgage, yes you will not own the property or be able to sell it unless you get up to date or do a deal, but if you don’t fee like paying, there is nothing a bank can do except try and get a court order, which most of time ends up like this story here. It’s unconscionable that you would “throw someone out of their house” for not paying their mortgage here because the banks “got bailed out”. They talked about not doing debt forgiveness because of moral hazard, so they just put in a system in place that takes a minimum 5 years for a bank to repossess, from the early stages of arrears to getting the sheriff out, which is creating its own moral hazard.

Nah, you get people out of their houses much easier then this. Very few people have the money to drag things through the courts for years. Or get to spend multiple years paying nothing before the process ever starts.

And there were factors in this that would not be the case in other areas, like the loans changing hands, the bank agreeing on deals which were then reneged on or having media friends who paint storeys about the big bad loan companys.

Uncle Pierre · 19-05-2020 9:34am

Cuddlesworth wrote: »

Do you see any downsides in picking a country home like you linked over a house in the city suburbs?

Personally, not really. I grew up in the countryside, lived in Dublin for a few years when I was younger, and am happy to now be back living in the countryside too. Before lockdown, I travelled to Dublin roughly once per fortnight in connection with work, and every time, I thought both "I'm glad I don't have to do this more often" and "I'm glad I don't live here".

I understand however that others may prefer to live in Dublin or any other city, for their own personal reasons.

As an aside, I reckon many people who have spent their whole lives in towns or cities have a wrong idea about what country living is like. Many country people spend at least a few years in a town or city while in college or starting careers, etc., but not as many go in the other direction. People originally from the countryside are therefore often in a better position to compare and contrast the two.

But I'm not trying to turn this into a city living v country living debate. I was merely remarking upon the differences in prices when you consider what your money gets you.

The Clontarf house in question here is 1,500 sq. ft. semi-d with an asking price of €695,00 and which once sold for over a million. You'd buy a house of that size and standard in Enniscorthy or Gorey or many other provincial towns for between €200,000 and €250,000. So I just think it's excessive that there's a premium in the region of €450,000 based on location alone.

smelly sock · 19-05-2020 4:03pm

Uncle Pierre wrote: »

Personally, not really. I grew up in the countryside, lived in Dublin for a few years when I was younger, and am happy to now be back living in the countryside too. Before lockdown, I travelled to Dublin roughly once per fortnight in connection with work, and every time, I thought both "I'm glad I don't have to do this more often" and "I'm glad I don't live here".

I understand however that others may prefer to live in Dublin or any other city, for their own personal reasons.

As an aside, I reckon many people who have spent their whole lives in towns or cities have a wrong idea about what country living is like. Many country people spend at least a few years in a town or city while in college or starting careers, etc., but not as many go in the other direction. People originally from the countryside are therefore often in a better position to compare and contrast the two.

But I'm not trying to turn this into a city living v country living debate. I was merely remarking upon the differences in prices when you consider what your money gets you.

The Clontarf house in question here is 1,500 sq. ft. semi-d with an asking price of €695,00 and which once sold for over a million. You'd buy a house of that size and standard in Enniscorthy or Gorey or many other provincial towns for between €200,000 and €250,000. So I just think it's excessive that there's a premium in the region of €450,000 based on location alone.

All only relevant if you can work remotely. Most will never buy a house in Clontarf though. They have no choice though but to buy a house in the commuter belt for 350k. The same house in the middle of nowhere or a depressing Irish village is probably 150k.

Gorey is the commuter belt i suppose. You'd do well to get a decent house there for 200k.

amdublin · 19-05-2020 4:06pm

smelly sock wrote: »

All only relevant if you can work remotely. Most will never buy a house in Clontarf though. They have no choice though but to buy a house in the commuter belt for 350k. The same house in the middle of nowhere or a depressing Irish village is probably 150k.

Gorey is the commuter belt i suppose. You'd do well to get a decent house there for 200k.

Surely it would be 2 hours each way if you commuted to Dublin from Gorey?? Nightmare

smelly sock · 19-05-2020 4:11pm

amdublin wrote: »

Surely it would be 2 hours each way if you commuted to Dublin from Gorey?? Nightmare

From Maynooth on the train to pearse station and then walk up to stephens green is 1.3 hours.

Uncle Pierre · 20-05-2020 10:05am

Think last few posts might actually show a few examples of city people having the wrong idea of life "down the country". You do realise that there are good jobs to be had outside of Dublin too?

Both my wife and I are in middle to senior management positions - she in Gorey and me in Wexford town. Commutes of 15 minutes for her and 25 minutes for me, both to places on the outskirts of town, so never any traffic problems or parking problems or anything like that. Both on what most people would call good money and both very happy with where we are.

I agree that a commute from here or anywhere else this far from Dublin would be a nightmare if you still had to be there in person each day. Already said that when I do occasionally have to travel up, I think how glad I am that I don't have to do it more often.

Overall, am just saying that when you consider what's possible in a nice part of the countryside, it's crazy to consider the premium you'd have to pay for a much smaller house and smaller garden if you wanted to live in a nice part of the city instead.

fret_wimp2 · 20-05-2020 11:58am

Uncle Pierre wrote: »

Think last few posts might actually show a few examples of city people having the wrong idea of life "down the country". You do realise that there are good jobs to be had outside of Dublin too?

I get a contrary impression, I'm from the country, moved to Dublin and all i ever hear when i go home is "when are you going to get out of that kip" and sentiment of a similar nature. Similar here, all we hear from people who live in the country is "would hate to live in the city, too expensive, houses too small etc etc".

Thats fine, thats an opinion but a massive amount of people dont share it, they (we) are happy in Dublin and see life as more than just a house. the services & facilities around it that the city provides are worth a premium.

In my career there is much less choice of jobs down the country, all with less benefits last time i investigated, so again, its a case of your mileage may vary.

Uncle Pierre wrote: »

Overall, am just saying that when you consider what's possible in a nice part of the countryside, it's crazy to consider the premium you'd have to pay for a much smaller house and smaller garden if you wanted to live in a nice part of the city instead.

Its crazy To you. Again, horses for courses, your mileage may vary, or whatever aphorism you wish to use. Im not for a second saying Dublin is for everyone, i know the countryside suits many, but anyone I speak to who lives in the countryside is convinced Dublin is a total compromise and anyone living there, paying for housing is an idiot.

padd b1975 · 20-05-2020 3:32pm

Eric Cartman wrote: »

Was probably only in Aldi to get one of the wine cooler fridges they were selling. Story most likely took place in donnybrook fair.

Nolan's would be my guess.

eagle eye · 30-05-2020 1:51am

fret_wimp2 wrote:

Its crazy To you. Again, horses for courses, your mileage may vary, or whatever aphorism you wish to use. Im not for a second saying Dublin is for everyone, i know the countryside suits many, but anyone I speak to who lives in the countryside is convinced Dublin is a total compromise and anyone living there, paying for housing is an idiot.

I lived in Dublin, Boston , London and Galway for a few years each. I now live down the country on the outskirts of a town and I wouldn't give it up.
If I had to go back to one of those places I'd choose Galway first, then Boston then London but I couldn't do Dublin again. The properties are just not nice, too small for the most part, too close together, very plain neighbourhoods with barely a plant to be seen in most areas. Terrible public transport system, very expensive, I just don't see the appeal.

Cyrus · 30-05-2020 7:56am

eagle eye wrote: »

I lived in Dublin, Boston , London and Galway for a few years each. I now live down the country on the outskirts of a town and I wouldn't give it up.
If I had to go back to one of those places I'd choose Galway first, then Boston then London but I couldn't do Dublin again. The properties are just not nice, too small for the most part, too close together, very plain neighbourhoods with barely a plant to be seen in most areas. Terrible public transport system, very expensive, I just don't see the appeal.

All depends on the areas to be fair

You wouldn’t say that if you lived near Killiney hill I wouldn’t have thought ?

eagle eye · 30-05-2020 2:20pm

Cyrus wrote:

All depends on the areas to be fair
You wouldnâ€™t say that if you lived near Killiney hill I wouldnâ€™t have thought ?

I'm talking about for an average middle earner or lower.

fret_wimp2 · 30-05-2020 2:23pm

eagle eye wrote: »

I lived in Dublin, Boston , London and Galway for a few years each. I now live down the country on the outskirts of a town and I wouldn't give it up.
If I had to go back to one of those places I'd choose Galway first, then Boston then London but I couldn't do Dublin again. The properties are just not nice, too small for the most part, too close together, very plain neighbourhoods with barely a plant to be seen in most areas. Terrible public transport system, very expensive, I just don't see the appeal.

Did you even read my post? the country is for you, fair play to you for finding your place.
Its not for everyone, just as the city is not for everyone. Im glad your happy in the country, but can country folk stop p*ssing on people for choosing to and enjoying living in the city?

Uncle Pierre · 30-05-2020 10:56pm

Cuddlesworth wrote: »

Do you see any downsides in picking a country home like you linked over a house in the city suburbs?

Actually, just to contradict the answer I put up a few days ago...

Yes, I can think of one downside after all.

In the countryside, we don't get free water and sewage services.

:D:D

smelly sock · 30-05-2020 11:30pm

Uncle Pierre wrote: »

Actually, just to contradict the answer I put up a few days ago...

Yes, I can think of one downside after all.

In the countryside, we don't get free water and sewage services. :D:D

We don't in urban areas either.

tbayers · 30-05-2020 11:42pm

smelly sock wrote: »

We don't in urban areas either.

Well you do. Yes people pay for it through general taxation but you aren't charged specifically for it, like those in the country are.

runawaybishop · 30-05-2020 11:45pm

tbayers wrote: »

Well you do. Yes people pay for it through general taxation but you aren't charged specifically for it, like those in the country are.

Don't forget bins! I could not believe when people starting giving out that they had to pay for bins, we always had to pay for water and bins here.

smelly sock · 30-05-2020 11:57pm

tbayers wrote: »

Well you do. Yes people pay for it through general taxation but you aren't charged specifically for it, like those in the country are.

Contradicting yourself to be fair.

runawaybishop · 31-05-2020 12:28am

smelly sock wrote: »

Contradicting yourself to be fair.

He's not, country people pay taxes just like everyone else and then on top pay for water and sewage.

John_Rambo · 31-05-2020 1:16am

runawaybishop wrote: »

He's not, country people pay taxes just like everyone else and then on top pay for water and sewage.

If you're off certain grids you're going to have to take a bit of pain and pay a little bit more for some services due to the nature of where you are!!

If you want to avail of existing infrastructure and amenities that are already in situ you can take some pain and pay more for a dwelling in an urban areas that already have the facilities.

It's your call, you made your choice, and if it's a one off in a rural setting you've a bigger environmental impact and a much much bigger carbon footprint, you're less likely to use public transport, you're probably car reliant, you're dispersed area is harder to police and service.... your postman uses a van instead of a bike etc... the list goes on...

smelly sock · 31-05-2020 9:41am

runawaybishop wrote: »

He's not, country people pay taxes just like everyone else and then on top pay for water and sewage.

General taxation covers our water charges etc in towns. It's well known and accepted that if you decide to live in the countryside it has extra over heads which is only right. This is a bit like anyone down a boreen wanting fibre broadband ran into their house.

Cuddlesworth · 31-05-2020 4:10pm

Uncle Pierre wrote: »

Actually, just to contradict the answer I put up a few days ago...

Yes, I can think of one downside after all.

In the countryside, we don't get free water and sewage services. :D:D

So basically you have a clear bias towards country living.

eagle eye · 31-05-2020 7:30pm

fret_wimp2 wrote:

Did you even read my post? the country is for you, fair play to you for finding your place. Its not for everyone, just as the city is not for everyone. Im glad your happy in the country, but can country folk stop p*ssing on people for choosing to and enjoying living in the city?

I did read your post, did you read mine. My point was that Dublin is awful in comparison to the other cities I spent a good portion of time in. I said I could live in the other three again but I could never live in Dublin.

smelly sock · 31-05-2020 7:53pm

eagle eye wrote: »

I did read your post, did you read mine. My point was that Dublin is awful in comparison to the other cities I spent a good portion of time in. I said I could live in the other three again but I could never live in Dublin.

Dublin is a big enough place. It really depends on the part of the city you are talking about. I spent time in dundalk. Its a kip for the most part. Doesn't mean the whole countryside is a kip though.

Feets · 31-05-2020 7:59pm

StackSteevens wrote: »

By 'downsizing' they probably mean relocating to a less salubrious area of Dublin! The downsizing would apply to their self-esteem!

Is there any chance they will get a mortgage though? They will be renting all the way. Big black marks on their bank records.

Feets · 31-05-2020 8:01pm

Tacklebox wrote: »

And if you're rubbing shoulders with celebs, attractive looking and have a lovely smile....

I know a few similar couples in Clare who are living it up and haven't paid any of their mortgages in years.

Still making money and going on holidays, new car's etc.

There's definitely something wrong somewhere.
No way should they have gotten away with that.

I guarantee you, they'll get on with their lives and they'll not feel one bit of remorse, shame or guilt.

It's just another day for the middle classes, laughing at everyone else.

This will make that couple feel invincible now.

They'll be celebrating and cracking open the champers, and they'll land on their feet.....

Curious, are the banks after them? Do they admit to this way of life?

smelly sock · 31-05-2020 8:09pm

Feets wrote: »

Is there any chance they will get a mortgage though? They will be renting all the way. Big black marks on their bank records.

They'll buy with the cash they saved.

eagle eye · 31-05-2020 8:28pm

smelly sock wrote:

Dublin is a big enough place. It really depends on the part of the city you are talking about. I spent time in dundalk. Its a kip for the most part. Doesn't mean the whole countryside is a kip though.

The whole city centre and any area built up over the last thirty years.

Spanish Eyes · 31-05-2020 9:26pm

eagle eye wrote: »

I did read your post, did you read mine. My point was that Dublin is awful in comparison to the other cities I spent a good portion of time in. I said I could live in the other three again but I could never live in Dublin.

Dublin can be heaven and country/rural can be hell.

lomb · 01-06-2020 9:27am

Pamela commenting on the joys of living in Clontarf. Doesn't mention anything about not paying mortgage. Oh how funny. Page 6
https://www.owenreilly.ie/wp-content/uploads/2019/01/The-Sunday-Times-190106-Property-Price-Guide-2019.pdf

ButtersSuki · 01-06-2020 9:37am

lomb wrote: »

Pamela commenting on the joys of living in Clontarf. Doesn't mention anything about not paying mortgage. Oh how funny. Page 6
https://www.owenreilly.ie/wp-content/uploads/2019/01/The-Sunday-Times-190106-Property-Price-Guide-2019.pdf

There must be something in the water in Clontarf. Between Pamela, Ivor Callely, and Joe Duffy not an ounce of shame or self-awareness between them.

eagle eye · 01-06-2020 10:45am

Spanish Eyes wrote:

Dublin can be heaven and country/rural can be hell.

I wasn't comparing Dublin to rural Ireland, I was comparing it to other cities.

Buy house, don't pay mortgage, live rent-free for 9 years. MOD WARNING POST #268

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