Off Topic Thread 4.0

kuang1 · 28-08-2018 3:21pm

mfceiling wrote: »

249...pm me

The lad that you put me in touch with was one I was very impressed with. I had emailed him last December at the very outset and he was very helpful and generous with his time and advice etc.

Sadly he's one of those who's too busy to take it on now.

sydthebeat · 28-08-2018 3:27pm

kuang1 wrote: »

It's a minimalist/builder's finish I'm asking for. Was told €235/240 could do it. Quote was 272K + VAT @13.5%.

Have rang the builder and now he suspects his QS may have fcuked up things a little and sent me the wrong price and will get back to me later.

Great start.

thats mental for what im assuming is a pretty standard 2100 sq ft?

unfortunately we're in a situation where tradesmen are incredibly busy and rare...... they can charge what they like really.

awec · 28-08-2018 3:31pm

270,000 for a 2100 square foot house.

I am depressed.

Zzippy · 28-08-2018 3:32pm

awec wrote: »

270,000 for a 2100 square foot house.

I am depressed.

I know. Expensive, isn't it! :P

molloyjh · 28-08-2018 3:33pm

awec wrote: »

270,000 for a 2100 square foot house.

I am depressed.

That's builders finish, so there'd be a lot more to be done after that I'm assuming. Flooring, tiling, fixtures and fittings. Plus there's the land to pay for.

But yeah, I hear ya!

stephen_n · 28-08-2018 3:37pm

I bought a site and built a 1200 sq ft house for £56,000 (€71,680) in 1999. It is absolutely insane how much the cost of housing has increased in the last 19 years.

awec · 28-08-2018 3:43pm

I am pretty sure my house, that the builders told me would be ready in December / January, is still just an untouched pile of soil.

kuang1 · 28-08-2018 3:50pm

molloyjh wrote: »

That's builders finish, so there'd be a lot more to be done after that I'm assuming. Flooring, tiling, fixtures and fittings. Plus there's the land to pay for.

But yeah, I hear ya!

Yeah spot on. Site (fully serviced) cost €135,000 + 6%stamp duty (€8,100...€5,400 of that will be refunded to me on completion of the build)

Site is 0.11 of an acre.

Squidgy Black · 28-08-2018 4:32pm

stephen_n wrote: »

I bought a site and built a 1200 sq ft house for £56,000 (€71,680) in 1999. It is absolutely insane how much the cost of housing has increased in the last 19 years.

My parents bought their house in 1994 for £60,000. Houses similar now selling for €470,000 in the estate.

Buer · 28-08-2018 4:40pm

My dad bought the family house for £6k. It has slightly appreciated in value since then.

errlloyd · 28-08-2018 4:42pm

My parents bought a 4 bed house in 1988 for 65k they can sell for 1m now. But it was in a recently converted from farmland estate in the middle of nowhere a twenty five minute walk from the nearest pub. It was on the outskirts of a city with no jobs, crap education etc. Now it's got a QBC, the m50, a twenty minute walk to the luas. But Dublin has changed.

I pay more than a third of my income in rent. It ****ing sucks. But I know we live in a sifnicantly better place than our parents.

irishbucsfan · 28-08-2018 4:43pm

What is a QBC?

Zzippy · 28-08-2018 4:45pm

Squidgy Black wrote: »

My parents bought their house in 1994 for £60,000. Houses similar now selling for €470,000 in the estate.

Anyone else feel old? My folks paid 5K for their house in 1972. Still living in it , prob worth 400k now. In fairness, they had to cope with 25% interest rates at one stage.

errlloyd · 28-08-2018 4:45pm

irishbucsfan wrote: »

What is a QBC?

Quality Bus Corridor. The 145. Reduced journey to town by twenty mins and increased frequency by about 400%

irishbucsfan · 28-08-2018 5:00pm

Ah OK, because I looked it up and saw this http://qbcbearings.com/

And was wondering if your parents were just really into ball bearings

Neil3030 · 28-08-2018 5:05pm

Wow. How is it sustainable having an average wage of 45k, with a 40% tax on anything over that (isn't there also a 50% band?), and the average house price nearing 400k? Ireland is a stressful place to grow up

If the government genuinely wanted to fix this, they first need to incentivise people away from bloody investment properties, i.e., bring in alternative mechanisms to save or invest in the stock market, such as the ISA in the UK, or roth IRAs in the U.S.

Podge_irl · 28-08-2018 5:39pm

I would argue properly taxing BTLs would be a better idea - like totally out the wazoo. There doesn't seem to me to be any real benefit to society having people owning an interest-only mortgage on a property in order to make 4-5% return.

We had ISAs for a brief period many moons ago did we not? I remember it when I was a kid.

Neil3030 · 28-08-2018 6:37pm

Podge_irl wrote: »

I would argue properly taxing BTLs would be a better idea - like totally out the wazoo. There doesn't seem to me to be any real benefit to society having people owning an interest-only mortgage on a property in order to make 4-5% return.

We had ISAs for a brief period many moons ago did we not? I remember it when I was a kid.

I may not be old enough to remember. What were the terms? The rule in the UK now is - you can now put £20k per year into either cash savings or securities, and all profits are tax free. Way more flexible, and a lot less hassle than owning a property, and comparable returns if you stick to something fairly robust like an index tracking ETF. Give people that option and you'll see interest in BTLs plummet.

irishbucsfan · 28-08-2018 7:23pm

I think McCreevy brought in ISAs.

Which is a coincidence because his tax reforms also helped to bring in Isa.

Podge_irl · 28-08-2018 7:39pm

Neil3030 wrote: »

I may not be old enough to remember. What were the terms? The rule in the UK now is - you can now put £20k per year into either cash savings or securities, and all profits are tax free. Way more flexible, and a lot less hassle than owning a property, and comparable returns if you stick to something fairly robust like an index tracking ETF. Give people that option and you'll see interest in BTLs plummet.

I don't think I'm older than you

They were brought in as a once off around 2000 or so I think. I recall as you had to be at least 16 to open one and my sister could avail but I could not. You got 25% return tax free after 5 years or something like that.

Neil3030 · 28-08-2018 7:58pm

Podge_irl wrote: »

I don't think I'm older than you

They were brought in as a once off around 2000 or so I think. I recall as you had to be at least 16 to open one and my sister could avail but I could not. You got 25% return tax free after 5 years or something like that.

Ahhh, you're talking about the SSIA - yeah it was a govt bonus 25% return if you committed a monthly saving for five years.

And we lapped it up like parched wildebeest.

There's an appetite to invest in Ireland, we just get no incentive for anything other than property.

Squidgy Black · 28-08-2018 8:11pm

Podge_irl wrote: »

I would argue properly taxing BTLs would be a better idea - like totally out the wazoo. There doesn't seem to me to be any real benefit to society having people owning an interest-only mortgage on a property in order to make 4-5% return.

We had ISAs for a brief period many moons ago did we not? I remember it when I was a kid.

I have absolutely no idea what any of this means.

errlloyd · 28-08-2018 8:30pm

Squidgy Black wrote: »

I have absolutely no idea what any of this means.

Buy to let is getting a mortgage becuase you can, not paying it off, only paying the interest, while renting out the property for profit.

thomond2006 · 28-08-2018 8:42pm

https://www.youtube.com/watch?v=l74083zafAM

thomond2006 · 28-08-2018 8:46pm

thomond2006 wrote: »

Who would be in for an NFL fantasy football league?

So I have:

Buer
Podge_irl
Scrubsfanchris

We need a few more! Any takers? Drop me a PM.

Neil3030 · 28-08-2018 9:35pm

errlloyd wrote: »

Buy to let is getting a mortgage becuase you can, not paying it off, only paying the interest, while renting out the property for profit.

Dear Bank manager,

Please give me a loan to invest in the S&P index, which tracks a broad category of businesses in the strongest economies on the planet, and which in my lifetime has provided average annual growth of 8%, up to nearly 10% if you reinvest dividends. Maintenance fees are less than half of 1%, it's flexible to adapt to shifts in industry, hedges risk globally, and I can quickly and easily sell my holding if my financial circumstances change.

Response: Laughed out of the building.

Dear Bank manager,

Please give me a loan to invest in a house, in one specific location in an economy largely built on building and selling houses. Tenants should be easy enough to find as long as people continue to build and sell houses. Rental income will cover mortgage repayments as long as interest rates don't change - even slightly. Maintenance fees will cost me 10% of annual revenue, if I'm lucky (but it's grand, I haven't factored that in yet!). I stack all my risk in this one region remaining economically prosperous, and if my financial situation changes, I face a lengthy, costly process of selling the holding, almost certainly jeapordising my ability to repay other debt I have outstanding to your institution.

Response: Approved! Come back once you get a tenant for 6 months and we'll give you 10 more.

kuang1 · 29-08-2018 8:45am

kuang1 wrote: »

It's a minimalist/builder's finish I'm asking for. Was told €235/240 could do it. Quote was 272K + VAT @13.5%.

Have rang the builder and now he suspects his QS may have fcuked up things a little and sent me the wrong price and will get back to me later.

Great start.

Builder got back to me to say that quote was €4,000 out.

So quote for a builders finish to a 2100 sq ft house: €304,000.

I have to hope that Buer is right and he's overpricing the job because of how busy he is.
Otherwise this house just cannot be built. Simple as that.

Buer · 29-08-2018 9:02am

kuang1 wrote: »

Builder got back to me to say that quote was €4,000 out.

So quote for a builders finish to a 2100 sq ft house: €304,000.

I have to hope that Buer is right and he's overpricing the job because of how busy he is.
Otherwise this house just cannot be built. Simple as that.

I would have been hoping for less but I wouldn't have expected a dramatic amount less even allowing for a rural location at this stage. We had quotes of over €200k for a full renovation of our house (and small extension) and that was 2-3 years ago.

If the cost is prohibitive, are there any cutbacks you can make? The one that jumps out immediately is the size of the house. 2,100 sq. ft. That's a good sized house, I know when you originally started discussing this item you were talking about 1,100 sq. ft. Is that negotiable? It would massively drop your costs by even reducing down to 1,500 sq. ft.

irishbucsfan · 29-08-2018 9:08am

Buer are you available for life-coaching appointments?

Buer · 29-08-2018 9:28am

irishbucsfan wrote: »

Buer are you available for life-coaching appointments?

I sure am.

Learn to drive.

That'll be €150.

Off Topic Thread 4.0

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