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How do single people buy homes?

1235

Comments

  • #122
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    Buy a property to live in, presume i,ll be here for 10 years at least.
    do not buy a property As an investment unless you are an expert ,do not presume it will go up in value at least for 20 years from the day you move in.


    Before the crash in 2008 people were buying house, s anywhere , ah sure it,ll go up in value.
    I cant lose, i,ll pay 200k for a house in athlone .
    what could go wrong.


  • #123
    mariaalice
    Registered Users Posts: 12,356 ✭✭✭✭mariaalice


    https://www.instagram.com/cheapirishhouses/


  • #124
    c.p.w.g.w
    Registered Users Posts: 4,994 ✭✭✭c.p.w.g.w


    Only person I know who bought on their own was gifted €60 grand from family. She has a great job on roughly €45-€50 grand a year. Her house cost 185,000. Think the mortgage was for 130,000


  • #125
    [Deleted User]
    Posts: 0 ✭✭✭[Deleted User]


    riclad wrote: »
    not everyone needs a 3 bed house,
    you can buy an apartment for 150-170k.
    So you,d need about 18k saved up for a deposit.

    Please show me an apartment in Dublin for that.


  • #126
    mariaalice
    Registered Users Posts: 12,356 ✭✭✭✭mariaalice


    paddyg91 wrote: »
    Please show me an apartment in Dublin for that.

    https://www.myhome.ie/residential/brochure/25-charlestown-avenue-finglas-dublin-11/4382552

    A friend of mine had an appartmetn there its fine, great transport links.


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  • #127
    c.p.w.g.w
    Registered Users Posts: 4,994 ✭✭✭c.p.w.g.w


    riclad wrote: »
    not everyone needs a 3 bed house,
    you can buy an apartment for 150-170k.
    So you,d need about 18k saved up for a deposit.

    Most banks require a larger deposit for apartments


  • #128
    eviltwin
    Registered Users Posts: 17,495 ✭✭✭✭eviltwin


    paddyg91 wrote: »
    Do you honestly consider no holidays, little to no entertainment, never eating out and only buying clothes when it is absolutely required as reasonable sacrifices? He did this not for a few months, but a number of years.

    I don't see what he did as making reasonable sacrifices, moreso he made years of massive sacrifices to his life all to afford a house.


    It's an important life lesson that some things worth having take sacrifice and if the pay off is something you really want it's not that hard. You can't have it all unfortunately. Very few people can save for a deposit while having a high standard of living.


  • #129
    [Deleted User]
    Posts: 0 ✭✭✭[Deleted User]


    mariaalice wrote: »
    https://www.myhome.ie/residential/brochure/25-charlestown-avenue-finglas-dublin-11/4382552

    A friend of mine had an appartmetn there its fine, great transport links.

    You need a 20% deposit on 1 bedroom apartments by the way.


  • #130
    [Deleted User]
    Posts: 0 ✭✭✭[Deleted User]


    eviltwin wrote: »
    It's an important life lesson that some things worth having take sacrifice and if the pay off is something you really want it's not that hard. You can't have it all unfortunately. Very few people can save for a deposit while having a high standard of living.

    Guess it really matters where your priorities lie when it comes to what you want from life.

    Seeing what I can earn working in IT in countries like Switzerland/USA/Canada vs here is amazing, whilst also going to Asia and teaching English from a TEFL course my standard of living also would far exceed what it is here, you could also work in the Middle East earning tax free income for a number of years without having to pay for accomodation.

    All of these are options wherein you can still have a good/high standard of living without sacrificing years of your life.

    If you're a single person I'd see these as far more attractive options than to have done what OP done, but that is just my opinion. To each their own. That being said working in IT you have more flexibility, but anyone can do a TEFL course.


  • #131
    antimatterx
    Registered Users Posts: 2,649 ✭✭✭antimatterx


    paddyg91 wrote: »
    You need a 20% deposit on 1 bedroom apartments by the way.

    30%


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  • #132
    Empty_Space
    Registered Users Posts: 227 ✭✭Empty_Space


    paddyg91 wrote: »
    Guess it really matters where your priorities lie when it comes to what you want from life.

    Seeing what I can earn working in IT in countries like Switzerland/USA/Canada vs here is amazing, whilst also going to Asia and teaching English from a TEFL course my standard of living also would far exceed what it is here, you could also work in the Middle East earning tax free income for a number of years without having to pay for accomodation.

    All of these are options wherein you can still have a good/high standard of living without sacrificing years of your life.

    If you're a single person I'd see these as far more attractive options than to have done what OP done, but that is just my opinion. To each their own. That being said working in IT you have more flexibility, but anyone can do a TEFL course.

    What area of IT are you in?

    I always thought those English teaching jobs were more Gap year criteria as they pay little.


  • #133
    tomister
    Registered Users Posts: 271 ✭✭tomister


    It can be done but it really depends on your income and circumstances (stating the obvious I know!) I'm in the process of buying on my own at the moment, mortgage and everything is done but the house won't be ready until March.

    From my perspective I decided I was getting bored of paying rent and house sharing and wanted somewhere to call my own. I'm lucky in the sense that I have a very strong income so I didn't need to make too many sacrifices. One thing I did do was just track my spending for three months and then cut all the unnecessary expenses.

    My sister did it a few years ago with a much lower income, it took her a few years and she made a lot of sacrifices for it but would do it again in a heartbeat as she has what she wanted


  • #134
    [Deleted User]
    Posts: 0 ✭✭✭[Deleted User]


    Empty_Space wrote: »
    What area of IT are you in?

    I always thought those English teaching jobs were more Gap year criteria as they pay little.

    App support/Development

    They pay around $20-$30 an hour in Vietnam. Cost of living is so much lower that you can comfortably save on those wages. You can also work online teaching while there if you want to earn more money.

    https://www.gooverseas.com/blog/earn-teaching-english-in-vietnam

    Private language centers: $1,200-$1,800 per month
    Public schools: $1,500-$2,100 per month
    Universities: $900-$2,200 per month
    Tutoring: $60-$100 per hour
    Other jobs: $25-$30 per hour

    https://www.numbeo.com/cost-of-living/in/Hanoi?displayCurrency=EUR

    1 bedroom apartment in the Centre costs €313.17, utilities and internet cost another 80 on top of that.


  • #135
    gmisk
    Registered Users Posts: 31,816 ✭✭✭✭gmisk


    Empty_Space wrote: »
    What size house did you go for?
    Sorry didn't see this.
    It's a terrace house 2 good size bedrooms and one box room which is used as a dressing room.
    Decent little garden as well.
    I was renting for 10+ years.
    Only needed 10 percent at that stage.


  • #136
    mariaalice
    Registered Users Posts: 12,356 ✭✭✭✭mariaalice


    https://www.myhome.ie/residential/brochure/44-cappagh-drive-finglas-dublin-11/4352867

    I am not advising anyone to buy this, however, it is a 3-bed house under 150k and its near good transport links, the house beside has solar panels a sign that the people are doing the houses up, staying in the area. In years to come with population increases places like this will become valuable, a mature area with good transport links reasonably near the city center. The Luas will come to Finglas eventually.

    Lots of areas that were considered colorful at one time have now become fashionable and sought-after, someone has to be the first one to take a chance on an area.

    I know its not for the fait hearted.

    House 10% deposit.


  • #137
    antimatterx
    Registered Users Posts: 2,649 ✭✭✭antimatterx


    mariaalice wrote: »
    https://www.myhome.ie/residential/brochure/44-cappagh-drive-finglas-dublin-11/4352867

    I am not advising anyone to buy this, however, it is a 3-bed house under 150k and its near good transport links, the house beside has solar panels a sign that the people are doing the houses up, staying in the area. In years to come with population increases places like this will become valuable, a mature area with good transport links reasonably near the city center. The Luas will come to Finglas eventually.

    Lots of areas that were considered colorful at one time have now become fashionable and sought-after, someone has to be the first one to take a chance on an area.

    I know its not for the fait hearted.

    House 10% deposit.

    I’d buy that house if I wasn’t putting my life at risk living in Finglas


  • #138
    Empty_Space
    Registered Users Posts: 227 ✭✭Empty_Space


    antimatterx wrote: »
    I’d buy that house if I wasn’t putting my life at risk living in Finglas

    Maybe a bit of an exaggeration, but certainly risking antisocial behavior and miserable home.


  • #139
    mariaalice
    Registered Users Posts: 12,356 ✭✭✭✭mariaalice


    There is always cursing the dark option.

    The new children's hospital has a big effect on property prices in the area, yet the local area is still the same colorful area it always was. What is the mecinism that is suddnely makeing an area with potentiona antisocial behaviour more attractive just because it is beside a new hospital when it may have been a bit of a no go area 10 years ago?


    It was never easy for a single person to buy if someone is not in a position t to save 20k even if it takes a few years, and or earns under 35k maybe its not realistic to be thinking of buying in Dublin, maybe the answer is that there will have to be mass social housing for older single people.


  • #140
    [Deleted User]
    Posts: 17,728 ✭✭✭✭[Deleted User]


    mariaalice wrote: »
    ............maybe the answer is that there will have to be mass social housing for older single people.

    Quite likely, it'll be grim enough too if it's needed en-mass. Adult Shared Residential Accommodation type things perhaps. Shared kitchen and living room with en-suite bedrooms.


  • #141
    Umiq88
    Registered Users Posts: 1,558 ✭✭✭Umiq88


    The process is straightforward

    10% deposit
    Borrow up to 3.5 times salary

    If you can't buy under these conditions you have 3 choices
    1. Buy a cheaper house
    2. Save larger deposit
    3. Increase salary

    I'm not saying it's easy and fair doesn't come into it but thats the system.

    We saved deposit and bought as a 1 income family and will have the 200k borrowed paid back in under 10 years.


    As others have said you prioritise whats import and go for it. There's an element of luck with house prices and markets and a good salary helps.


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  • #142
    [Deleted User]
    Posts: 0 ✭✭✭[Deleted User]


    mariaalice wrote: »
    https://www.myhome.ie/residential/brochure/44-cappagh-drive-finglas-dublin-11/4352867

    I am not advising anyone to buy this, however, it is a 3-bed house under 150k and its near good transport links, the house beside has solar panels a sign that the people are doing the houses up, staying in the area. In years to come with population increases places like this will become valuable, a mature area with good transport links reasonably near the city center. The Luas will come to Finglas eventually.

    Lots of areas that were considered colorful at one time have now become fashionable and sought-after, someone has to be the first one to take a chance on an area.

    I know its not for the fait hearted.

    House 10% deposit.

    Cappagh Road, you're surrounded by Travellers, scumbags and Mr. Flashy's gangs. Good luck ever trying to sell that.

    If you ever want to know how bad an area is google the name of the road and google news

    https://www.google.com/search?q=cappagh+road&rlz=1C1VFKB_enIE796IE796&sxsrf=ACYBGNTRN8l8SKWjgYxqEVXGvS7WSden1w:1574344013523&source=lnms&tbm=nws&sa=X&ved=2ahUKEwiClbi9uPvlAhWRrHEKHdVkAlYQ_AUoA3oECBAQBQ&biw=1920&bih=1009


  • #143
    ebayissues
    Registered Users Posts: 446 ✭✭ebayissues


    Workwise I can be based in D1, D2 and D4, I'd like a place that cold easily reach this IFSC/St-stephen green/ballsbridge. Any ideas?


  • #144
    accensi0n
    Registered Users Posts: 2,738 ✭✭✭accensi0n


    ebayissues wrote: »
    Workwise I can be based in D1, D2 and D4, I'd like a place that cold easily reach this IFSC/St-stephen green/ballsbridge. Any ideas?

    https://www.daft.ie/dublin/houses-for-sale/donnybrook/4-eglinton-park-donnybrook-dublin-2321460/


  • #145
    [Deleted User]
    Posts: 17,728 ✭✭✭✭[Deleted User]


    ebayissues wrote: »
    Workwise I can be based in D1, D2 and D4, I'd like a place that cold easily reach this IFSC/St-stephen green/ballsbridge. Any ideas?

    What's your budget?


  • #146
    ebayissues
    Registered Users Posts: 446 ✭✭ebayissues


    Augeo wrote: »
    What's your budget?




    350K


  • #147
    GoldenSlumbers
    Registered Users Posts: 50 ✭✭GoldenSlumbers


    duffman3833 wrote: »
    I managed to buy a house at the start of the year through the rebuiling ireland home scheme
    banks were offering me feck all so going through this scheme i was able to get a house to the value of €150k including my deposit
    It was tough, luckily, i got a house for that amount and my monthly payments are low, worth looking into

    what's the benefit of this sceme? the interest rates seem the same as normal banks?

    also may I ask what do you earn annually. I wonder if I could ever buy a property in the 150 000 range on my 20 000 yearly net wage.


  • #148
    GoldenSlumbers
    Registered Users Posts: 50 ✭✭GoldenSlumbers


    bush wrote: »
    I lived at home and saved like crazy. I had to have 30% deposit to pull it off. It was a mad amount to save in a short time when I look back on it. The first year of owning the house every penny I had went it to furnish and decorate it. It was all very hard but I'm just through it all now and I can relax.
    The upside of having such a big deposit is my mortgage repayments are f all.

    why did you need a 30% deposit? because your house was worth more than 3.5x your income? sorry just curious as to why you needed such a big deposit


  • #149
    guyfawkes5
    Registered Users Posts: 291 ✭✭guyfawkes5


    GoldenSlumbers wrote: »
    why did you need a 30% deposit? because your house was worth more than 3.5x your income? sorry just curious as to why you needed such a big deposit
    You need a larger deposit for one bedroom properties, the logic being that you don't have a potential income from renting out the spare room after purchase.


  • #150
    Bass Reeves
    Registered Users Posts: 18,127 ✭✭✭✭Bass Reeves


    GoldenSlumbers wrote: »
    what's the benefit of this sceme? the interest rates seem the same as normal banks?

    also may I ask what do you earn annually. I wonder if I could ever buy a property in the 150 000 range on my 20 000 yearly net wage.

    It depends on where you want to live but there is still properties that can e bough for that. on an affordability assuming that you managed to get a deposit of 20K and qualified for a mortgage of 130K on a 5 year variable over 25 years is 580/month, over 30 years its 510/month. The crazy thing is such mortgages are easily affordable for lots of people on low wages its accessing the loan and deposit that is the issue.

    Slava Ukrainii



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  • #151
    Geuze
    Registered Users Posts: 13,047 ✭✭✭✭Geuze


    GoldenSlumbers wrote: »
    also may I ask what do you earn annually. I wonder if I could ever buy a property in the 150 000 range on my 20 000 yearly net wage.


    Average full-time earnings in 2019 were 49k.

    Average earnings for mortgage applicants are higher than 49k.


    20k net wage is low, I would even say very low.


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