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02-10-2015, 10:35   #46
lima
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Originally Posted by Flatzie_poo View Post
You missed the point. Apartments can be wider. Yes. But when you're judging the size of a property you go off total sq feet/meters.
The total measurements of the floorspace, yes? Or have I missed something? Are you counting something other than usable floorspace to measure the size of a property?
Please explain this, and how the total (usable) floorspace of a two story house differs with the total floorspace of an apartment that contains as much floor as the floor in a two story house.



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Originally Posted by Flatzie_poo View Post
That's just incorrect. Unless you're apartment is a complete dive.
Lol is it so, I bought a high-quality apartment in a decent north side area recently and it is significantly cheaper than an equivalent house. I will go back to it after work and enjoy it knowing that a house would have cost me significantly more


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Just because that's applicable in your complex, does not mean it's applicable in all other apartment complexes. A lot of complexes don;t allow satellites. Hence my point.
Well I have given you an example, so it is applicable in my apartment. You have not given an example, therefore as of right now I have proven that it is applicable in 100% of apartment complexes. How do you measure 'a lot'? If it's applicable in my apartment complex, it doesn't mean it's not applicable in other apartment complexes.


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A huge bonus.
I don't miss a garden.


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Originally Posted by Flatzie_poo View Post
How desirable and area is is subjective. Giving you a little leeway on this, Stoneybatter & Fairview are quite desirable to most people. Most prices there are not extortionate.
Lol, leeway. Well done.
How do you know they are desirable to most people? Pretty subjective isn't it?
I grew up neat Fairview and it's a sh*thole. Stoneybatter is close to bad areas and is only desirable to some because it's relatively cheap.

Nonetheless, houses in these areas are significantly more expensive than my apartment:
http://myhome.ie/residential/dublin-...ds=2&maxbeds=3
http://myhome.ie/residential/dublin-...ds=2&maxbeds=3




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Even the best sometimes miss the obvious.
That is equally the same for houses. There's risk there too.
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02-10-2015, 10:42   #47
Flatzie_poo
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Originally Posted by lima View Post
Nonetheless, houses in these areas are significantly more expensive than my apartment:
http://myhome.ie/residential/dublin-...ds=2&maxbeds=3
http://myhome.ie/residential/dublin-...ds=2&maxbeds=3.
€195k is a lot more expensive than your apartment?

I'm banging my head against a brick wall with you.

The total floor space is what I said you measure the size or a house or apartment with. You then come back saying along the lines of "take into account an apartment is wider."

do you not understand that that's already taken into account in total floor space?
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02-10-2015, 10:49   #48
Black_Knight
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Id suggest taking it to PMs. Apartment vs House has nothing to do with the OP.
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02-10-2015, 10:49   #49
Paulw
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Mod Note: Please stick to the topic, and enough of the back and forth about the rest.
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02-10-2015, 11:38   #50
nox001
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Originally Posted by syklops View Post
Yeah, all bought on the credit card, which is why we have such high levels of credit card debt in this country.

You've got 20 years to get the house fully kitted out. Whats the hurry. As another poster said, get your basics in, bed, kitchen table etc. and add to it when you can afford to.
No the friends of mine I'm referring to are building their houses rather than buying so part of the mortgage is set aside for fully furnishing the main rooms in the houses, no maxing out credit cards.
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02-10-2015, 13:51   #51
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Sounds like your doing well. Just try not take anything from your savings between now and then. Keep the amount your saving around what you expect your monthly mortgage payments to be. They generally expect to see at least six months evidence that you will be able to make the payments. In fact they usually calculate a stressed payment in case mortgage interest rates were to go up so make sure your savings match that. The quote someone else gave you regarding the solicitor is about right you usually end up paying around 2000-2500 plus stamp duty. Make sure you dont change job between now and then permanent employment is essential, they are not interested in contract work usually. And my only other advise would be to go into the banks and talk to them, dont rely on online calculators etc. Some banks are willing to work with you in relation to some aspects of your application. Now is the hard part just keep your head down and save as much as you can.
yeah we won't be touching any of he savings. We are saving €1000 a month so out mortgage repayments would be less as we are constrained by the new rules. Got a stress test and said we'd be able to afford between €130000 to €140000 mortgage even with herself a car loan
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05-10-2015, 18:59   #52
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An update, I found that Bank of Ireland changed their tune very quickly when I said ebs had given me a far better quote for a mortgage then they did a few months back and practicality matched what ebs had said. It's funny how that happened. I wonder how all this works in the end
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05-10-2015, 21:28   #53
MrMaki
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Originally Posted by nox001 View Post
I would say it's rare to wait so long, I haven't seen people I know furnishing houses wait more than a few weeks for stuff they bought.
Whats wrong with furniture from Ikea if somebody must save for long time to afford deposit for not too expensive house?
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06-10-2015, 10:44   #54
Greyian
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No the friends of mine I'm referring to are building their houses rather than buying so part of the mortgage is set aside for fully furnishing the main rooms in the houses, no maxing out credit cards.
So they're buying furniture with mortgage debt as opposed to credit card debt. That's still not very financially savvy.
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06-10-2015, 11:12   #55
Black_Knight
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So they're buying furniture with mortgage debt as opposed to credit card debt. That's still not very financially savvy.
How so? A mortgage APR is a whole lot less than a credit card.
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06-10-2015, 11:25   #56
nox001
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So they're buying furniture with mortgage debt as opposed to credit card debt. That's still not very financially savvy.
Furnishing a self build is part of building it of course you use some of the mortgage to pay for it. A mortgage is also the cheapest money you can get, credit card interest is many multiples of it.
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06-10-2015, 11:34   #57
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Furnishing a self build is part of building it of course you use some of the mortgage to pay for it. A mortgage is also the cheapest money you can get, credit card interest is many multiples of it.
No, money you saved yourself is the cheapest money you can get. The APR on mortgages is low but it's spread over so many years that you repay over twice the principal.

No one 'needs' a fully furnished house straight away. Start with the bare necessities and build it from there.
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06-10-2015, 11:35   #58
Greyian
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How so? A mortgage APR is a whole lot less than a credit card.
You also pay it off over a much longer time.

If you take out a mortgage of €200,000 over 30 years at 4%, that's a monthly repayment of €954.83.

If you take out a mortgage of €210,000 (so €10,000 for furniture) over 30 years at 4%, that's a monthly repayment of €1,002.57.

That's a difference of €47.74 per month, which comes to €17,186.40 over the course of the 30 years.

So you're paying more than €7,000 extra, because of impatience. Before the Celtic Tiger, it wasn't unusual to move into a house with minimal furniture and then pick stuff up over the months and years after moving in.
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06-10-2015, 11:48   #59
Black_Knight
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Or just pay a lump off of your mortgage when you get some cash together after furnishing. ie. Pay off your "furnishing loan" in year 1.

It wouldn't be my first choice anyways. Hence going to Aldi on Thursday and picking up one of these bad boys:


There's a blow up couch too!
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06-10-2015, 11:48   #60
nox001
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Originally Posted by Greyian View Post
You also pay it off over a much longer time.

If you take out a mortgage of €200,000 over 30 years at 4%, that's a monthly repayment of €954.83.

If you take out a mortgage of €210,000 (so €10,000 for furniture) over 30 years at 4%, that's a monthly repayment of €1,002.57.

That's a difference of €47.74 per month, which comes to €17,186.40 over the course of the 30 years.

So you're paying more than €7,000 extra, because of impatience. Before the Celtic Tiger, it wasn't unusual to move into a house with minimal furniture and then pick stuff up over the months and years after moving in.
Well I am talking about essentials, cooker, fridge, dishwasher, furniture for living room and sitting room, tvs for the living and sitting rooms, bed for main bedroom, kitchen table etc.

I look on it more like Im spending 200k to build the house, no way Im not spending the extra 10k to move into a house with a lot more comfort rather than building a lovely house and having nothing in it.
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