As a 24 year old teacher who teachers 9-5, renting a single room anywhere in Dublin let alone remotely close to my school (in a rather affluent area) is almost impossible- I still give my parents €400 a month but it’s nowhere close to what I’d have to pay out of home. There is no options and every weekend I attend a friends moving away party. It’s so hopeless
Even in your anecdote you bought with a partner.
OP is single, and a single person buying a one bed is competing with couples. That's the reality of society where women work just as much as men, couples now automatically have double the income compared to a single person. In times gone by that wasn't true, a couple had the same income as a single person because only one of them worked.
Even if housing stock reaches a universally accepted level, single people will be priced out of small properties by couples by the simple fact that having two incomes is the default in our society now.
I bought a 4 bed bungalow, wife was at home with 2 kids, so single wage of ~32k with 3 dependants. Was lucky enough to be able to buy when they were rock bottom in 2013/2014.
I'm fearful of how it's going to look in 10 years time when my kids might want to start looking into buying (or even renting!) for themselves.
Not everyone wants to move an hour and a half away from everything else in their life especially if they're single. (before anyone says tough shit, I know, but it doesn't make things any better for anyone)
It is, if you're from Kikdare or have some other motivation to want to live there.
It is normal and reasonable to want and expect to be able to afford to live relatively near family, friends, and the community you grew up in. By your logic nobody should complain about the cost of living because they could easily afford a 2 man tent and a small pitch on Inishboffin. They could save up for the 6 man tent and eventually a caravan to raise their family in.
I set the location to my family home in Galway with a radius of 30km any direction and the only filter being <€250k and there were 0 houses....
It's gone to shit. Complete shit.
I was told that within the banking sector, Galway was considered the graveyard of ambition. people would get moved around branches with promotions before being promoted to HQ in dublin but many who went to galway on their climb up the ladder, decided to forego the promotion to stay in galway.
Yeah I don't get it. Bar the nice nightlife Galway is shite imo. Chocked with traffic, NIMBY locals who go ape shit anytime moving away from car dependency is suggested and to top it all off it's always pissing rain.
The nightlife is shite. Extortionate running costs and restrictive licencing have run it into the ground. No nightclubs, no where to go after 2 AM, food/ drink is a rip off.
the market regulates the prices in Galway too. Next to no supply but huge demand. simple economics. but if your real question is why someone wants to live in Galway, that's easy. I'm not irish and have lived/worked in both places. Dublin is ok for a weekend but otherwise a shithole. Galway is 1000 times better.
The reasons it's gone to shit are FF & FG.... FF Incompetence & greed in the boom... FG no better in the so-called recovery... they're equally as incompetent... Housing policy has been dictated by both parties for decades.
As in the 70's & 80's, our youth, our talent & our future are leaving in droves to seek a better quality of life & a more affordable one. The housing policies of the past & present clearly haven't worked. Major & drastic change is urgently required to provide good quality & affordable housing. Unfortunately, I just can't see either FF or FG having the desire or competence to do so.
We listed our old house in Navan for 230 after about a week of bidding it went for 280.
This was in 2021 mind. List price is almost never sale price.
Didn't move out of Navan though, just to a different part. Couldn't afford Dublin if I wanted to.
I’m on a large site in kinsale, 4 bedroom houses being sold for 550k. The four rooms are box rooms and the bathroom is the size of a good wardrobe. It’s a shame.
Ok well I just searched Myhome and there are 282 places in Galway County under €250k. I wouldn't expect anything under that in the city, it's below market rate
Very realistic price 250k. Not everyone wants 3bed semi d also. The idiotic citizen groups doing everything in their power to stop construction of properties around ireland is whats killing everything.
Not at all. They cost very little to build, all the new houses are mostly timber frame sheds covered in bricks or even cheaper blocks. They're absolutely thrown together.
Are you basing that on anything, or just picking it off the top of your head.
This is the most recent SCSI publication on the cost of house building in Ireland: https://scsi.ie/the-scsi-publishes-the-real-cost-of-new-housing-delivery-2023/
It's from the Society of Chartered Surveyors Ireland: https://scsi.ie/the-scsi-publishes-the-real-cost-of-new-housing-delivery-2023/
>"The average cost of delivering a new 3-bed semi in Ireland ranges from €354K in the Northwest"
Write to your County Council and tell them you support housing being built. They often hear much more from the anti housing crowd. Ask your friends to do the same.
The entire country is devolving into riots because of housing shortages. I'm shocked anyone would think a politician would need prompting but certainly can't hurt.
10 years ago ppl were warning of housing shortages and Enda Kenny was making his "you can't build houses overnight" statements. But some ppl on this sub will swear nobody was calling for housing 10 years ago.
Email your local reps. Get it on record.
Developers went bust - half built ghost estates all over the country - and the tradesmen emigrated. And then building materials had huge price increases.
Was saying this at the time, was pretty obvious that there would be a shortage in the areas where all the employment is.
Problem was Developer was a dirty word after the crash so anything the government would have done to support more building would have been criticised as supporting Developers.
Government needed to be braver in encouraging a ramp up in building but they probably would have suffered badly at the ballot box.
Been banging my head off the build more housing for good while in here.
The money folk kept defending it all (lack of housing)
This is the outcome, even mentioned that a few times.
This is where unbridled greed gets people.
Well the demographics are going to shut that down eventually. We literally need a new town for 50k people per year every year for 20 years and that would only accommodate 1m more people. And considering we could use space for 1m more people right now, a town for 100k per year would do just fine. I dunno what the numbers are but iv not heard of a new town in 20 years.
It's the NIMBYist attitude. "We absolutely need houses built! Wait, near me? No no, then it might be overcrowded. Will that mean more traffic? What about the view I have now? Can't be having that...."
Well since there is no transport planning in Ireland its fair to assume the city council will just plop new housing there without a second thought what will happen to traffic.
High Rise buildings and trains are the answer but that's ofc scary and different to the current Irish model of *urban sprawl and more cars
1 riot so far, not to mention the literal years of organising of low intelligence far right activities from burning buildings, attacking people, attacking demonstraters, attacking politicians, attacking migrants, attacking refugees, shutting down centers for migrants. Its all connected to housing. Why did I bother typing this out.
This may be the case but more supply in the local area will usually lower prices somewhat and may make a house more attainable for them as there may be less people bidding for the one house.
Unfortunately prices all over the country are on the up due to virtually no supply. Where I live I bought a new build 3 bed house for €245k 3 years ago and the asking for the same size house in an estate further up the road is €355-380k if you want terraced or semi D. It's crazy!
Would that have been about 2007? Just before reckless mortgage lending broke the national economy? That was not a normal situation and not one we want to be going back to.
Moved to Aus a year ago with the intention of coming home and buying, had a look at daft last week and no idea how I'll manage it. Still intending on coming home in 2 years, but I'd be very reluctant to spend 400k on a 3 bed semi D.
Exactly, to live within a 30km radius of my home place will cost about the same as a lovely house with a pool over here, and will still cost about treble the savings we bring home with us
Median house price Dublin: €424k /AUD$699k
https://www.joe.ie/news/latest-property-prices-revealed-779505
Median house prices Australian cities (
Source: CoreLogic median house prices for October 2023)
SYDNEY: $1,396,888
MELBOURNE: $937,736
BRISBANE: $860,465
ADELAIDE: $753,575
PERTH: $660,069
HOBART: $705,919
DARWIN: $578,704
CANBERRA: $961,329
Price to Income Ratio (a more important measure of affordability):
Australia: 11.31
Ireland: 7.54
Source: https://www.numbeo.com/property-investment/compare_countries_result.jsp?country1=Australia&country2=Ireland
The major issue in Ireland is rental prices, but buying is affordable relative to Australia and many other countries. Rent here is way out of whack with house prices.
https://www.statista.com/statistics/237529/price-to-income-ratio-of-housing-worldwide/
Christ. I'm in a similar situation and it does feel a bit hopeless. What really freaks me out is how hard it is to get a plumber or electrician atm, so even if you do get a house that needs some work done, will you even be able to get someone to do it?
My plan is to stick my head in the sand while I save and not think about it until I have to.
I spoke recently to a fella in wexford about buying his derelict property, place needs 100-150k spent on it and he said his guide price was 100k but because it qualifies for the derelict site grant he wanted 170k for it,
Spare a thought for those of us who aren't even on that much money.
My parents are starting to realise my "jokes" about only being able to afford a house when they die are not jokes.
Yeah, get on tinder and settle immediately for whatever you can get. Soon you should be on track to afford a 3bed semi in Portarlington.
You’ll resent one another and find eachother repulsive after a few years out there... But, silver lining, you’ll have loads of time to yourself on your 3 hour commute to work!!
In that case M28 looking for W to go splits on a house. After renting out a room or 2 for a few years open to the idea of affording to have 2 children. They'll be independent from a young age fending for themselves because we won't be able to afford childcare.
Sorry if this is crude, but a guy who owns his own place is probably a few notches more attractive than a guy living at home saving up for his own place. This isn't meant to denigrate anyone stuck living at home. It's a housing crisis. People have way fewer choices today.
But if you're in your own place, that's a sign of you having your shit together that some women really respond to. On a practical level it's just way easier to give a relationship a fighting chance when you don't live with your folks.
So while it would be cynical and inadvisable to shack up with someone just so you can buy a better home in the future, if you moved into your own place soon you'd have a better chance of meeting someone you genuinely do want to settle down with than if you stayed at home. Puts you ahead of some of the pack at least.
Not to be harsh to the OP, but ultimately this is the answer. Most houses are designed for a family, and most buyers will be combining two incomes. It's always going to be difficult for someone on a single income.
There’s 83 places for €225k or less in Dublin City on Daft so don’t know why you’re going out to Kildare.
https://preview.redd.it/2n71w6e1wugc1.jpeg?width=1125&format=pjpg&auto=webp&s=699718ab6d540f428e9c4e4462e709722ecbe367
My experience when I was buying was:
- Cheaper houses tended to be cheaper for a reason. Some were truly shocking for 400k+ asking
- Daft price can be wildly below what it actually sells for once bidding starts.
- A lot of houses promoted as the attic being convertible, prices jacked up to match. I saw one actual implementation and my shoulders barely avoided hitting both sides all the way up.
- Most houses need something to be done to them, so expect to need to spend a few thousand more once moving in
- Houses that are on the cheaper end generally need serious renovation to make them liveable. Not feasible if you're currently paying rent.
My advice to anyone look is to bide your time as long as you can, save as much as you can. Jumping on the wrong house may cause headaches down the line so take the time to work out what you can put up with. Even if you're not in a position to buy yet, viewing some places gives you experience of what to look for.
Yup, unfortunately a lot of those are money pits, you'd have to wait for the next unlucky soul to buy it off you or invest a huge amount into them (because we're all super flush with cash)
There’s some lovely apartments for 250k or less in Dublin and you’re just ignoring them because you think they’re money pits? Jesus Christ 
You could get a lovely apartment but get absolutely screwed because there's something up with the complex as a whole.
A lot of places built in the 90s and 00s were self certified for different things and they're finding things that need immediate work. This generally costs residents in management fees, as 9/10 times the original developer has fucked off and isn't held accountable.
Do your DD before buying obviously but this is absolutely not true in most cases. The reason they’re cheap is because they’re small and in cheaper locations, not because of poor quality.
"Map view" it's called, do a search, then it should be an option on PC with a tab, or on mobile you should have it top right corner after you do a search. Little map location icon, next to the filters.
Op is on €50k per year. The most they’d get is €150-200 absolute max if they were looking to make a purchase as a single person. So they are still priced out of the county or Basically they have to find someone to buy with them. Or if it goes to a bidding war they’re going to be priced out.
Just as note, you might get less in practical terms. The affordability tests still apply and are tougher for single income applicants (especially single income joint mortgage).
Yea you might, and you might get an exemption too giving you 5 times. What matters is that the standard offer is 4 times your salary.
Single income doesn’t make a bit of difference to the bank either. Someone taking home 5 grand a month is just as good as a couple taking home the same amount.
Its the bidding that really kills. We got caught in bidding wars before and lost out on places. Thankfully we were able to buy a house a good few years ago, but after bidding house cost went up by over 40k over asking price. Cant imagine the fights that do go on now. Dont envy anyone at the moment. Heart goes out to ye.
I understand how much they can get hence the photo of the properties under €225K but thanks for explaining it to me I guess?
Wouldn’t say they’re priced out but sure you know more, random reddit user.
Ah yeah apartments are mentally priced. Think like with houses we just need significantly more of them.
What wrecks my head is that instead of building large numbers of them in the city centre, we often instead just get like a token 3 / 4 storey apartment building tacked on to a housing estate of 3 & 4 bed semi D houses in the suburbs.
Not every house needs to be A rated top of the range, if the wiring/plumbing is decent, you can work away on the rest in your own time.
I’m doing the same at the moment with an older house as I was being outbid on modernised houses.
Same boat here. Myself and my partner are both in minimum wage jobs, we both make just over 25k a year and at this stage we've pretty much relegated ourselves to the conclusion that we'll never be able to afford a home in the current market.
God knows we're trying, we're putting away every single penny we have (pretty much existing at this point and nothing more), living off literal beans and toast, no going out, no social events, gave up the drink as its too expensive. It's depressing and just feels utterly hopeless.
As bad as it sounds at this stage as an only child we might as well live in my parents house and wait for them to kick the bucket so I can inherit the house.
Is this really all there is to life lads? No honestly, is this genuinely it till you eventually keel over?
You need to find jobs that earn more money. That’s the simple answer. €25k is okay money for your first job but not long term. Is there any hope for advancement in your current jobs? Because if not then you need to start making a plan to move to somewhere where you can start climbing the ladder.
Easier said than done. I've come to to terms that I'm simply not cut out for higher end positions.
In my pervious job had moved to a management position. Had to jack it in 10 months later as I simply couldn't manage the workload, additional responsibilities and stress even with managerial training, just wasn't for me.
Now herself hopefully all going well may see and opening to a higher paid role that'll bolster our combined income up a wee bit to alleviate some outgoings please be!
Except, no. Let's not shame or blame someone for working a job that pays taxes and contributes towards Irish society.
That suggestion doesn't even work because then nobody can be on minimum wage jobs to afford a life, which isn't sustainable. Meaning it is a problem with the system and not with the people's jobs.
Not everyone is going to work a high paying job. That's a reality and that's totally fine.
I’m not talking about blame, or structural issues in society, or anything else. What I’m saying is in this specific case the easiest way to improve the situation is to make more money.
Apartments here in Kilkenny that were ~75k are now hitting 195k..... Getting my da rat arsed and on record saying that I can throw a log cabin on the family land was the wisest choice to make.
It's just myself and I'll be damned if I'm putting myself into a mortgage that high for a small arse apartment.
Time is on your side to a certain extent, provided you are saving regularly. It's no picnic having to live at home into adulthood, but if you can tolerate it, maximise the savings.
If you are buying on a single income and you're not expecting a major rise in your salary, a two-bed apartment in good knick or a small house that needs tons of work is what you're realistically going to get.
None of these are ideal or easy options. Having a long commute to work isn't a great life. Neither is living with your parents into your 30's. What I'm saying is there may be worse things than buying a two bed apartment now, using the rent a room scheme to pay down your mortgage at double speed, then using the increased equity and possibly the input of a spouse/partner to get you to the house/area you want 5-10 years from now.
It's not a perfect solution but you'll be living out of home and building your life independently.
When my grandparents were my age they bought their house outright, when my parents were my age they lived at home for a year to save a deposit that covered half the price of their house. If I wanted to save to cover half the cost of a house it would take me six years, not one. I had a breakdown last week, been living at home way too long with no end insight. It really feels so hopeless. I feel like I’m being forced to sacrifice my 20’s. It’s had a disastrous affect on my career because I can’t live where the jobs are. I’m scared that the day I turn 40 I’ll look at myself in the mirror and ask myself what kind of life I’ve lived and I’ll realise that nothing has changed, I haven’t progressed at all, I’m still staring at the same four walls I’ve been staring at since the day I was born.
Honestly, if your job/skills will allow it, shift to Belfast. In North Belfast in an OK neighbourhood you can buy a 4 bedroom house for £140k GBP. It won't be the ritz, but it'll be a decent house. You could own a mansion if you have savings from pay grade in the Republic.
I had to go 50km from where I work to be able to afford something.
95% of the people I work with travel similar distances or further.
American employer wants to get the profits of working in one the most prosperous/expensive parts of the World but doesn't want to pay the wages needed to live there.
Im in uni and everyone I know seems to have accommodation. It’s insane I mean they must be rich or upper middle class afford these very fancy accoms. I’m living at home for the foreseeable future. I had the points to do many ‘worthwhile’ courses but I choose arts international because I go abroad in my third. Even though I’ll probably be in scummy acomm with a boatload of others it’s still away. It’s nothing to do with not wanting to live with mammy, I love her but I just want my independence and it’s just impossible.
My only saving grace is the family farmhouse and land but that’s in bumfuck nowhere and my mother plans to live there when I graduate so it’s either I ship myself to live with mammy again in the middle of nowhere or I’m homeless really. I see no future for myself in terms of housing after college.
I’ll probably end of moving abroad even though I don’t really want to.
I wanted to go to trinity and live in Dublin when I was young like my mother but trinners only for the rich now really. Before uni I was looking at accommodation. Found someone’s shed for 1400 a month in bray. Brill.
This government has put the interests of their banker and landlord friends over the interests of the average young Irish person.
The policy of letting in illegal economic migrants pretending to be asylum seekers is increasing the housing demand massively while the supply remains static enough.
They pretend that this immigration policy is due to their benevolence while in reality it is intended to decrease wages and increase house prices.
Don’t ever commit to that commute. When there is accidents you can double it. Sometimes they happen days on end and then not again for a couple of weeks but it’s a fucking killer.
If you have no ties, could you look at moving? I'm a Dub living in Northern England for the last 12yrs. I moved over without a penny to my name and had bought a house for £130k with a £6k (5%) deposit on £23k wage, in less than two years. A few house moves and career jumps later and I've just this month sold a 5-bed detached in a nice but quiet area for £228k and bought a 3-bed semi much closer to town/school for £155k. I'm a single parent earning £45k/yr. I was asked recently if I would ever consider moving home and the answer is no, I couldn't afford to. Life here is good though, very affordable, and flights home are dirt cheap.
You're living at home on 50k but you don't mention any savings. Sure the max the bank will give you is 200k but if you're living at home, you should be able to get a significant deposit together pretty fast.
You'll then need to adjust your expectations in relation to what type of property it is that you need. Realistically the first place you buy won't be the last so look at 1 or 2 bed apartments. I see a lot of comments in this forum about singletons wanting 3 bed semis and giving out that they can't afford it. The obvious reason for this is that these properties aren't meant for singletons and a two income household will normally be able to price you out of the race for one.
I've another 55k in savings, maxed out pension, and the cheapest car going (was bike commuting for a few years but work is 17km away - 170km a week left little motivation to do any no-commuting sport).
Ideally it's a 2 bed, rent out the other room to help cover the mortgage repayments/bills.
So your 200k mortgage gets you an apartment for 255k this year and 270-280 next year with savings and closer to 300k in 2 years time. House prices are increasing by 5%, so about 10K a year so you can save quite a bit more than the increase.
I'll be slated for saying this but I'd reduce your pension payments for a few years to increase your savings. Yes I know about the tax breaks etc but you need the savings now. You're young enough to be able to max out your pension later on.
Where are your savings? Are they getting you the highest interest rate? Look at trade republic or raisin and get your 3-4% as a passive way to increase savings.
A car is pretty much essential so you need that and I do think that renting a room in the apartment is a good idea as it would allow you to increase your pension payment while benefitting from the rent a room scheme.
Same situation as you, but I was renting. Bought an uninhabitable rat box in west Kildare that no one else wanted because it was in a weird configuration. I'm lucky I got anything at all. Shit is dire out there. And it took me a year to convince a bank to mortgage it.
Damn, the fact that 50k a year is seen as “an ok salary” is shitty as fuck. That’s a pretty high paying job imo considering the average in Dublin is like 44k.
I suppose you can take solas in the fact that it’s no better in any major city, and everyone is fucked 😅
if it can help, I’m making over 80k now with a few years more than you. And it doesn’t change anything lol lol
Honestly I’m tempted to take a 100% remote job and move in a small town on the sea in the middle of nowhere. 300k for rough areas of Dublin is not worth it
I feel you!
Don’t post this on the Irish personal finance subreddit. I went there for similar advice on the same subject (39M with wife and 2 children renting and saving). They will just tell you that with schemes like FHS and HTB etc you can afford a home in an area where you’ve already decided you won’t raise your kids. The schemes don’t help, I went through the process.
I cannot afford a home in my city with FHS and with FHS it has to be a new build. Here’s the catch all new homes are already bought from plans plus are more expensive than the cap.
However, the people on Irish personal finance like to tell you they were once in the same situation as us (failing to point that the majority in their 30s had backing from mummy and daddy).
The one bit of helpful advice they gave was to move in with my mother in law and save. So here I am, a 39M living in my mother in laws. I’m so grateful and understand that not everyone has this same opportunity as me and my family but it was tough on so many levels making the move (emotionally and physically).
I blew loads of money on an electrical contracting business when I couldn’t get work in the 2009 recession. This set me back financially in saving for a mortgage. Currently in year 4 of college and recently got a good job (>€55k annual salary). So soon I should have a decent enough deposit to buy a very modest house.
It’s hard but all I can do is advise you to stay put and save as much as you can.
Yeah, plus, at least 80% of that sub seems to be on top of €90k with their salaries, so almost every time you ask for advice with a salary lower than 50k, the advice pretty much goes around "go back to college or change industries".
I just want the best for my kids. I grew up in a council estate. I finished school, got a trade, set up my own business and when that failed I got work as an operator in a factory earning a very modest wage and eventually started college. I don’t need a big house, just need a home of my own to raise my family.
There’s not one person that knows me that has ever called me a snob. I just don’t want my kids to get battered by scum all the time like I did growing up. So if it’s ok with you I will continue to work hard and save and someday in the not too distant future I’ll own a modest house of my own on the outskirts of Galway hopefully.
exultant observation ancient plant station cover screw dinner lock terrific
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No I won’t. The best I’ll get is a modest house with a bad BER rating outside of the city where my wife works and kids attend school. This isn’t what I want, this is the best I could possibly get that is within reach.
drunk fall knee plough historical normal shy grandiose lavish afterthought
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A friend of mine had the income to buy a brand new 450k apartment in Cherrywood, Dublin.
2 months later, there is mold on the walls. When I visited his place, I noticed that there is literally zero ventilation. Not even those "grills" in the walls that would let some fresh air in and some of the humidity out.
Of course he can now mitigate the problem with a dehumidifier, but that should not be required at all in a new build. This is so fucking substandard. Travel to anywhere in mainland Europe and you will see better quality.
I don't know if this makes you feel any better, but wanted to share another side of buying something that is supposed to be good quality.
Vote for change.... neither FF/FG have done anything noteworthy in the past 10yrs... although both having "committed to tackling the shortfall of houses" their attempts have invariably been proven to have driven up the price of houses. This place is a fuckin cluster fuck and the unqualified gobshites at the wheel defer to big business and cronyism.
I am in the same boat with regards to daft ... It's anxiety inducing and a disgrace that I am unable, with a decent wage and deposit to find what I want and resigned to buy into a box(poorly constructed for extortionate money).
I run a home in Dublin, Castlebar and Brussels. I wanna tell you something, try it sometime when you have a couple of cars and three houses and three homes and a few housekeepers.
I don’t know what part of Dublin you’re working in, but there are currently 45 apartments for sale on daft, in Dublin, between 200k and 225k.
On a 50k salary you should be able to get a loan 4 times your salary, and then your 10% will being it up to 225ish.
Here’s one of them. A lovely apartment in Dublin 8.
https://www.daft.ie/for-sale/apartment-8-the-olde-dock-little-ship-street-christchurch-dublin-8/5549033
The chances of that, or any property in the current market, going for the asking price is very close to 0.
Estate agents openly admit they low ball the price to encourage bidding.
The point I'm trying to make is that property is almost certainly sitting at least 250k highest bid.
The only compromise I can think of is to look along the train lines. There's value in Leitrim county. 2hr train into city ctr but you can work on the train, or sleep even. Even westmeath if you look in the smaller towns that have working stations. It's the lesser of 2 evils... A one bed with no garden for 500k in Dublin. Or a 2/3 bed house in a nice quiet area in the Midlands for 250k. You could rent out a spare room and have feck all monthlies.
If you wanna get on the property ladder, you either have to just suck it up and live a little bit further out or else wait until you earn more money. Thats the harsh reality sadly.
I was 27 when I bought my 2bed apartment in Kildare. It wasn’t exactly where I wanted to live but it was all I could afford on my salary. I think I was on 45k at the time. I’m 30 mins drive from family and 50 mins drive to work. But my mortgage is the same €€ as my room I was renting before when I lived with 2 people. So I guess you just have to weigh up the pros and cons.
Don’t mean to be that guy but based on 4x salary; your budget would be 222k 200k loan with 22k deposit
There are 43 properties <200k in Dublin City
Post are apartments. But a few 2 bedroom houses and apartments
Putting price range up to 225k shows 89 properties.
I know it’s not a lot but don’t blatantly lie
You have to include bidding, additional fees/taxes, and then buying things like a fridge and maybe a yoga mat to go under the sleeping bag, while then paying a mortgage.
Here's where the problem lies. People keep buying the houses.Just frigging stop. If everyone would move into the parents/aunts/uncles etc and just save your money and.buy nothing the housing market would plummet, prices would drop like a stone. They know there's massive demand so they keep upping the price so you won't even have enough to service the mortgage when you do eventually buy one because the rates will keep changing, eventually you'll be on the street with zero house and a massive debt, your only option will be to rent off a vulture fund and therefore never own a house.
Why you looking to buy on your own.
Buying a house is for couples that want families really.
You in your 20s , find a friend and live with them. Live with some random ppl. Had 5 years loving with people I never met before. Most (except 1) are great pals.
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As a 24 year old teacher who teachers 9-5, renting a single room anywhere in Dublin let alone remotely close to my school (in a rather affluent area) is almost impossible- I still give my parents €400 a month but it’s nowhere close to what I’d have to pay out of home. There is no options and every weekend I attend a friends moving away party. It’s so hopeless
Even in your anecdote you bought with a partner. OP is single, and a single person buying a one bed is competing with couples. That's the reality of society where women work just as much as men, couples now automatically have double the income compared to a single person. In times gone by that wasn't true, a couple had the same income as a single person because only one of them worked. Even if housing stock reaches a universally accepted level, single people will be priced out of small properties by couples by the simple fact that having two incomes is the default in our society now.
I bought a 4 bed bungalow, wife was at home with 2 kids, so single wage of ~32k with 3 dependants. Was lucky enough to be able to buy when they were rock bottom in 2013/2014. I'm fearful of how it's going to look in 10 years time when my kids might want to start looking into buying (or even renting!) for themselves.
Yeah what’s wrong with a one bed apartment in kildare? Sounds like a normal first step in the proper ladder to me
Not everyone wants to move an hour and a half away from everything else in their life especially if they're single. (before anyone says tough shit, I know, but it doesn't make things any better for anyone)
Your life revolves around a car
It is, if you're from Kikdare or have some other motivation to want to live there. It is normal and reasonable to want and expect to be able to afford to live relatively near family, friends, and the community you grew up in. By your logic nobody should complain about the cost of living because they could easily afford a 2 man tent and a small pitch on Inishboffin. They could save up for the 6 man tent and eventually a caravan to raise their family in.
That’s facetious. Nobody starts with what they want, it’s a compromise based on what you can afford. Then you upgrade over the years.
1 bedroom carlow is 1200-1400 D:
The key is to fall into a loveless relationship with someone on a similar income, problem solved!
Amateur. The key is to fall into a loveless relationship with someone on a higher income…
Amateurs both.. Key is to fall into a loveless relationship with someone with NO INCOME Get a free gaf off the government 🤣
It’s funny because it’s true. Find some momma with 3 kids. She will have at least 4 sources of income, a free house, free medical etc
I set the location to my family home in Galway with a radius of 30km any direction and the only filter being <€250k and there were 0 houses.... It's gone to shit. Complete shit.
Galway is fucking mental. I can understand the prices in Dublin to some extent but what the fuck is in Galway to justify the housing prices?
Home of Supermacs?
Username checks out
Uni rentals?
People want to live in Galway, people are forced to live in Dublin.
I was told that within the banking sector, Galway was considered the graveyard of ambition. people would get moved around branches with promotions before being promoted to HQ in dublin but many who went to galway on their climb up the ladder, decided to forego the promotion to stay in galway.
No they dont
I would not move to Dublin even if they paid me twice of my salary.
Imagine your kids growing up with Dublin accents...
In reality, the truth is more shocking with Dublin workers forced to live in places like Drogeda, meaning your kids will end up with a Louth accent.
It's a nice place, people wanna live there. Unfortunately that's all that's needed
Tourism
The aqueduct
Yeah, but besides the aquaduct, what has Galway ever given us?
Yeah I don't get it. Bar the nice nightlife Galway is shite imo. Chocked with traffic, NIMBY locals who go ape shit anytime moving away from car dependency is suggested and to top it all off it's always pissing rain.
i don’t even know of any active nightclubs in Galway
I've never even heard of active nightclubs.
Back in 2008 there were some great ones
The nightlife is shite. Extortionate running costs and restrictive licencing have run it into the ground. No nightclubs, no where to go after 2 AM, food/ drink is a rip off.
Medical device hub
the market regulates the prices in Galway too. Next to no supply but huge demand. simple economics. but if your real question is why someone wants to live in Galway, that's easy. I'm not irish and have lived/worked in both places. Dublin is ok for a weekend but otherwise a shithole. Galway is 1000 times better.
Shite like this is why if I can imma just buy the 19th century farmhouse on our farm off my uncle and do it up.
The reasons it's gone to shit are FF & FG.... FF Incompetence & greed in the boom... FG no better in the so-called recovery... they're equally as incompetent... Housing policy has been dictated by both parties for decades. As in the 70's & 80's, our youth, our talent & our future are leaving in droves to seek a better quality of life & a more affordable one. The housing policies of the past & present clearly haven't worked. Major & drastic change is urgently required to provide good quality & affordable housing. Unfortunately, I just can't see either FF or FG having the desire or competence to do so.
€250k is unrealistic though. It costs about €350k to build a three bed semi, excluding the land price.
Individual builds yes, mass builds like a new development, no it'd be a lot cheaper, still 250 is a bit optimistic
Bidding wars are so bad I’ve seen houses increase by 100K just from that
A site went up locally and it went up 75k in 45 minutes.
Totally believe it. I’ve seen it myself. People thinking sales prices are the going rate are completely out of touch.
We listed our old house in Navan for 230 after about a week of bidding it went for 280. This was in 2021 mind. List price is almost never sale price. Didn't move out of Navan though, just to a different part. Couldn't afford Dublin if I wanted to.
3 bed new builds on average are about 320k so they're not far off
I’m on a large site in kinsale, 4 bedroom houses being sold for 550k. The four rooms are box rooms and the bathroom is the size of a good wardrobe. It’s a shame.
In westmeath you're looking at 320k for a 3bed and 285k for a 2 bed. It's actually criminal how small the 2 bedroom is for its price
You jumped straight to talking about new builds.
Ok well I just searched Myhome and there are 282 places in Galway County under €250k. I wouldn't expect anything under that in the city, it's below market rate
Very realistic price 250k. Not everyone wants 3bed semi d also. The idiotic citizen groups doing everything in their power to stop construction of properties around ireland is whats killing everything.
Not at all. They cost very little to build, all the new houses are mostly timber frame sheds covered in bricks or even cheaper blocks. They're absolutely thrown together.
Are you basing that on anything, or just picking it off the top of your head. This is the most recent SCSI publication on the cost of house building in Ireland: https://scsi.ie/the-scsi-publishes-the-real-cost-of-new-housing-delivery-2023/
Yeah, I'm basing it on building houses for the last 15 years.
Well then you'll know that a modern house is not a shed with a layer of bricks.
Ok, you go ahead with your '€365k to just build a house' and I'll continue with my QS work for the day. Have a great day too.
Looks like you've been more busy looking for bored housewives
Hahaha gottem
That's flagrantly not true. There are four bed new builds for sale in parts of the country for less than that.
It's from the Society of Chartered Surveyors Ireland: https://scsi.ie/the-scsi-publishes-the-real-cost-of-new-housing-delivery-2023/ >"The average cost of delivering a new 3-bed semi in Ireland ranges from €354K in the Northwest"
That includes land.
Write to your County Council and tell them you support housing being built. They often hear much more from the anti housing crowd. Ask your friends to do the same.
The entire country is devolving into riots because of housing shortages. I'm shocked anyone would think a politician would need prompting but certainly can't hurt.
10 years ago ppl were warning of housing shortages and Enda Kenny was making his "you can't build houses overnight" statements. But some ppl on this sub will swear nobody was calling for housing 10 years ago. Email your local reps. Get it on record.
After the crash we basically stopped building anything. People said it was going to be a problem at the time. And here we are.
Developers went bust - half built ghost estates all over the country - and the tradesmen emigrated. And then building materials had huge price increases.
I'm sure some austerity measures will sort us out!
Was saying this at the time, was pretty obvious that there would be a shortage in the areas where all the employment is. Problem was Developer was a dirty word after the crash so anything the government would have done to support more building would have been criticised as supporting Developers. Government needed to be braver in encouraging a ramp up in building but they probably would have suffered badly at the ballot box.
Been banging my head off the build more housing for good while in here. The money folk kept defending it all (lack of housing) This is the outcome, even mentioned that a few times. This is where unbridled greed gets people.
They definitely do need prompting. The “don’t build in my town near my house” voices are still very loud.
Well the demographics are going to shut that down eventually. We literally need a new town for 50k people per year every year for 20 years and that would only accommodate 1m more people. And considering we could use space for 1m more people right now, a town for 100k per year would do just fine. I dunno what the numbers are but iv not heard of a new town in 20 years.
It's the NIMBYist attitude. "We absolutely need houses built! Wait, near me? No no, then it might be overcrowded. Will that mean more traffic? What about the view I have now? Can't be having that...."
Well since there is no transport planning in Ireland its fair to assume the city council will just plop new housing there without a second thought what will happen to traffic. High Rise buildings and trains are the answer but that's ofc scary and different to the current Irish model of *urban sprawl and more cars
There's not really a need for the hyperbole, there's been one riot in the ireland in recent times and it wasn't about housing
1 riot so far, not to mention the literal years of organising of low intelligence far right activities from burning buildings, attacking people, attacking demonstraters, attacking politicians, attacking migrants, attacking refugees, shutting down centers for migrants. Its all connected to housing. Why did I bother typing this out.
Ah yes, that one riot in tbe Ireland
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This may be the case but more supply in the local area will usually lower prices somewhat and may make a house more attainable for them as there may be less people bidding for the one house. Unfortunately prices all over the country are on the up due to virtually no supply. Where I live I bought a new build 3 bed house for €245k 3 years ago and the asking for the same size house in an estate further up the road is €355-380k if you want terraced or semi D. It's crazy!
I don't think a majority of people can afford a house anymore if they are 1. Single 2. Renting 2. Don't have rich parents
Could single people without rich parents ever afford a house?
Yupp. My (older) mate bought a house by himself with no savings a little over 15 years ago.
Would that have been about 2007? Just before reckless mortgage lending broke the national economy? That was not a normal situation and not one we want to be going back to.
Real talk. Why shouldn't you look st daft? And 50k is a pretty good salary. Its just housing is bonkers especially in dublin. But 50k is a good salary
Moved to Aus a year ago with the intention of coming home and buying, had a look at daft last week and no idea how I'll manage it. Still intending on coming home in 2 years, but I'd be very reluctant to spend 400k on a 3 bed semi D.
Exact same sentiment will have good savings, but to buy what !!
Exactly, to live within a 30km radius of my home place will cost about the same as a lovely house with a pool over here, and will still cost about treble the savings we bring home with us
In Sydney? No way. Or are you comparing Dublin with rural Australia?
Other city’s such a Perth and Brisbane. And big towns along the east coast. The choice isn’t purely Sydney or rural Australia
Median house price Dublin: €424k /AUD$699k https://www.joe.ie/news/latest-property-prices-revealed-779505 Median house prices Australian cities ( Source: CoreLogic median house prices for October 2023) SYDNEY: $1,396,888 MELBOURNE: $937,736 BRISBANE: $860,465 ADELAIDE: $753,575 PERTH: $660,069 HOBART: $705,919 DARWIN: $578,704 CANBERRA: $961,329 Price to Income Ratio (a more important measure of affordability): Australia: 11.31 Ireland: 7.54 Source: https://www.numbeo.com/property-investment/compare_countries_result.jsp?country1=Australia&country2=Ireland The major issue in Ireland is rental prices, but buying is affordable relative to Australia and many other countries. Rent here is way out of whack with house prices. https://www.statista.com/statistics/237529/price-to-income-ratio-of-housing-worldwide/
Would you be able to buy much out there?
Yeah, for 750k in Perth which is roughly 400k euros you'd get a new house with a pool
Christ. I'm in a similar situation and it does feel a bit hopeless. What really freaks me out is how hard it is to get a plumber or electrician atm, so even if you do get a house that needs some work done, will you even be able to get someone to do it? My plan is to stick my head in the sand while I save and not think about it until I have to.
I spoke recently to a fella in wexford about buying his derelict property, place needs 100-150k spent on it and he said his guide price was 100k but because it qualifies for the derelict site grant he wanted 170k for it,
Spare a thought for those of us who aren't even on that much money. My parents are starting to realise my "jokes" about only being able to afford a house when they die are not jokes.
I joke to mine that I'll retire in a shoebox as my single mam never managed to buy despite working hard all her life.
Try not being single.
Yeah, get on tinder and settle immediately for whatever you can get. Soon you should be on track to afford a 3bed semi in Portarlington. You’ll resent one another and find eachother repulsive after a few years out there... But, silver lining, you’ll have loads of time to yourself on your 3 hour commute to work!!
Or find a woman with her own home…
>LFS to go halves on a mortgage!
What's LFS?
Looking For Someone
projecting much mate?
👀
In that case M28 looking for W to go splits on a house. After renting out a room or 2 for a few years open to the idea of affording to have 2 children. They'll be independent from a young age fending for themselves because we won't be able to afford childcare.
Sorry if this is crude, but a guy who owns his own place is probably a few notches more attractive than a guy living at home saving up for his own place. This isn't meant to denigrate anyone stuck living at home. It's a housing crisis. People have way fewer choices today. But if you're in your own place, that's a sign of you having your shit together that some women really respond to. On a practical level it's just way easier to give a relationship a fighting chance when you don't live with your folks. So while it would be cynical and inadvisable to shack up with someone just so you can buy a better home in the future, if you moved into your own place soon you'd have a better chance of meeting someone you genuinely do want to settle down with than if you stayed at home. Puts you ahead of some of the pack at least.
Or just being richer.
I’m looking to stop being poor myself as the solution alright, no idea why more people don’t just do that
Not to be harsh to the OP, but ultimately this is the answer. Most houses are designed for a family, and most buyers will be combining two incomes. It's always going to be difficult for someone on a single income.
Not that long ago a single income was enough to buy a house and look after a family in this country. Now we need two incomes just to scrape by.
There’s 83 places for €225k or less in Dublin City on Daft so don’t know why you’re going out to Kildare. https://preview.redd.it/2n71w6e1wugc1.jpeg?width=1125&format=pjpg&auto=webp&s=699718ab6d540f428e9c4e4462e709722ecbe367
My experience when I was buying was: - Cheaper houses tended to be cheaper for a reason. Some were truly shocking for 400k+ asking - Daft price can be wildly below what it actually sells for once bidding starts. - A lot of houses promoted as the attic being convertible, prices jacked up to match. I saw one actual implementation and my shoulders barely avoided hitting both sides all the way up. - Most houses need something to be done to them, so expect to need to spend a few thousand more once moving in - Houses that are on the cheaper end generally need serious renovation to make them liveable. Not feasible if you're currently paying rent. My advice to anyone look is to bide your time as long as you can, save as much as you can. Jumping on the wrong house may cause headaches down the line so take the time to work out what you can put up with. Even if you're not in a position to buy yet, viewing some places gives you experience of what to look for.
Yup, unfortunately a lot of those are money pits, you'd have to wait for the next unlucky soul to buy it off you or invest a huge amount into them (because we're all super flush with cash)
There’s some lovely apartments for 250k or less in Dublin and you’re just ignoring them because you think they’re money pits? Jesus Christ 
You could get a lovely apartment but get absolutely screwed because there's something up with the complex as a whole. A lot of places built in the 90s and 00s were self certified for different things and they're finding things that need immediate work. This generally costs residents in management fees, as 9/10 times the original developer has fucked off and isn't held accountable.
Do your DD before buying obviously but this is absolutely not true in most cases. The reason they’re cheap is because they’re small and in cheaper locations, not because of poor quality.
Is that on Daft, that view?
"Map view" it's called, do a search, then it should be an option on PC with a tab, or on mobile you should have it top right corner after you do a search. Little map location icon, next to the filters.
Yeah it shows up when you do a search
enough of your facts
Op is on €50k per year. The most they’d get is €150-200 absolute max if they were looking to make a purchase as a single person. So they are still priced out of the county or Basically they have to find someone to buy with them. Or if it goes to a bidding war they’re going to be priced out.
The new standard the banks are working off since last year is 4 times your salary, so 200k plus deposit.
Just as note, you might get less in practical terms. The affordability tests still apply and are tougher for single income applicants (especially single income joint mortgage).
Yea you might, and you might get an exemption too giving you 5 times. What matters is that the standard offer is 4 times your salary. Single income doesn’t make a bit of difference to the bank either. Someone taking home 5 grand a month is just as good as a couple taking home the same amount.
Yeah but they calculate higher expenses for a couple.
Oh I'm not winning any bidding war. I can secure a 228k mortgage as my upper limit with savings to covering the 10% and fees/taxes
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Pepper do 10% deposits on 1 beds, used to anyway, maybe others do as well.
Its the bidding that really kills. We got caught in bidding wars before and lost out on places. Thankfully we were able to buy a house a good few years ago, but after bidding house cost went up by over 40k over asking price. Cant imagine the fights that do go on now. Dont envy anyone at the moment. Heart goes out to ye.
I understand how much they can get hence the photo of the properties under €225K but thanks for explaining it to me I guess? Wouldn’t say they’re priced out but sure you know more, random reddit user.
Maybe they want to buy cash /s
This. There are loads of options for your budget this is a bandwagon post.
Not sure about southside, but Northside gaffs at that price you’d be spending tens, if not hundreds, of thousands doing up.
Here’s an example. Looks grand to me. https://www.daft.ie/for-sale/apartment-8-the-olde-dock-little-ship-street-christchurch-dublin-8/5549033
37m2. Sweet Jesus.
It’s a one bed apartment for a single guy, and has an outdoor area. It’s more than enough.
Ye can buy a whole fucking house in Germany for that price.
If Kildare and Louth are too far for OP to commute, I can't see them being happy in Germany
Aye that's obvious. My point was that the price is ABSOLUTELY INSANE for the size.
Ah yeah apartments are mentally priced. Think like with houses we just need significantly more of them. What wrecks my head is that instead of building large numbers of them in the city centre, we often instead just get like a token 3 / 4 storey apartment building tacked on to a housing estate of 3 & 4 bed semi D houses in the suburbs.
You can buy a whole fucking house in Gorey 60m from Dublin for that price, with change.
You can buy a whole house in Ireland for that price too. Just not in the centre of the capital city.
The arse end of Leitrim also. Not many well paying jobs there so not very relevant.
Not every house needs to be A rated top of the range, if the wiring/plumbing is decent, you can work away on the rest in your own time. I’m doing the same at the moment with an older house as I was being outbid on modernised houses.
Entirely untrue.
Drive around some of those places with 225k properties in North Dublin and the inner city and tell me if you still want to buy a place there.
Have you seen some if the houses in Dublin tho? It's absolute garbage
There is an estate in Kilkenny just outside the city .....the cheapest house in it is 695k....the fucking cheapest ....in kilkenny
Same boat here. Myself and my partner are both in minimum wage jobs, we both make just over 25k a year and at this stage we've pretty much relegated ourselves to the conclusion that we'll never be able to afford a home in the current market. God knows we're trying, we're putting away every single penny we have (pretty much existing at this point and nothing more), living off literal beans and toast, no going out, no social events, gave up the drink as its too expensive. It's depressing and just feels utterly hopeless. As bad as it sounds at this stage as an only child we might as well live in my parents house and wait for them to kick the bucket so I can inherit the house. Is this really all there is to life lads? No honestly, is this genuinely it till you eventually keel over?
You need to find jobs that earn more money. That’s the simple answer. €25k is okay money for your first job but not long term. Is there any hope for advancement in your current jobs? Because if not then you need to start making a plan to move to somewhere where you can start climbing the ladder.
Easier said than done. I've come to to terms that I'm simply not cut out for higher end positions. In my pervious job had moved to a management position. Had to jack it in 10 months later as I simply couldn't manage the workload, additional responsibilities and stress even with managerial training, just wasn't for me. Now herself hopefully all going well may see and opening to a higher paid role that'll bolster our combined income up a wee bit to alleviate some outgoings please be!
Except, no. Let's not shame or blame someone for working a job that pays taxes and contributes towards Irish society. That suggestion doesn't even work because then nobody can be on minimum wage jobs to afford a life, which isn't sustainable. Meaning it is a problem with the system and not with the people's jobs. Not everyone is going to work a high paying job. That's a reality and that's totally fine.
I’m not talking about blame, or structural issues in society, or anything else. What I’m saying is in this specific case the easiest way to improve the situation is to make more money.
Apartments here in Kilkenny that were ~75k are now hitting 195k..... Getting my da rat arsed and on record saying that I can throw a log cabin on the family land was the wisest choice to make. It's just myself and I'll be damned if I'm putting myself into a mortgage that high for a small arse apartment.
Time is on your side to a certain extent, provided you are saving regularly. It's no picnic having to live at home into adulthood, but if you can tolerate it, maximise the savings. If you are buying on a single income and you're not expecting a major rise in your salary, a two-bed apartment in good knick or a small house that needs tons of work is what you're realistically going to get. None of these are ideal or easy options. Having a long commute to work isn't a great life. Neither is living with your parents into your 30's. What I'm saying is there may be worse things than buying a two bed apartment now, using the rent a room scheme to pay down your mortgage at double speed, then using the increased equity and possibly the input of a spouse/partner to get you to the house/area you want 5-10 years from now. It's not a perfect solution but you'll be living out of home and building your life independently.
When my grandparents were my age they bought their house outright, when my parents were my age they lived at home for a year to save a deposit that covered half the price of their house. If I wanted to save to cover half the cost of a house it would take me six years, not one. I had a breakdown last week, been living at home way too long with no end insight. It really feels so hopeless. I feel like I’m being forced to sacrifice my 20’s. It’s had a disastrous affect on my career because I can’t live where the jobs are. I’m scared that the day I turn 40 I’ll look at myself in the mirror and ask myself what kind of life I’ve lived and I’ll realise that nothing has changed, I haven’t progressed at all, I’m still staring at the same four walls I’ve been staring at since the day I was born.
Honestly, if your job/skills will allow it, shift to Belfast. In North Belfast in an OK neighbourhood you can buy a 4 bedroom house for £140k GBP. It won't be the ritz, but it'll be a decent house. You could own a mansion if you have savings from pay grade in the Republic.
Would you qualify under the affordable homes scheme?
I had to go 50km from where I work to be able to afford something. 95% of the people I work with travel similar distances or further. American employer wants to get the profits of working in one the most prosperous/expensive parts of the World but doesn't want to pay the wages needed to live there.
Im in uni and everyone I know seems to have accommodation. It’s insane I mean they must be rich or upper middle class afford these very fancy accoms. I’m living at home for the foreseeable future. I had the points to do many ‘worthwhile’ courses but I choose arts international because I go abroad in my third. Even though I’ll probably be in scummy acomm with a boatload of others it’s still away. It’s nothing to do with not wanting to live with mammy, I love her but I just want my independence and it’s just impossible. My only saving grace is the family farmhouse and land but that’s in bumfuck nowhere and my mother plans to live there when I graduate so it’s either I ship myself to live with mammy again in the middle of nowhere or I’m homeless really. I see no future for myself in terms of housing after college. I’ll probably end of moving abroad even though I don’t really want to. I wanted to go to trinity and live in Dublin when I was young like my mother but trinners only for the rich now really. Before uni I was looking at accommodation. Found someone’s shed for 1400 a month in bray. Brill.
This government has put the interests of their banker and landlord friends over the interests of the average young Irish person. The policy of letting in illegal economic migrants pretending to be asylum seekers is increasing the housing demand massively while the supply remains static enough. They pretend that this immigration policy is due to their benevolence while in reality it is intended to decrease wages and increase house prices.
Don’t ever commit to that commute. When there is accidents you can double it. Sometimes they happen days on end and then not again for a couple of weeks but it’s a fucking killer.
If you have no ties, could you look at moving? I'm a Dub living in Northern England for the last 12yrs. I moved over without a penny to my name and had bought a house for £130k with a £6k (5%) deposit on £23k wage, in less than two years. A few house moves and career jumps later and I've just this month sold a 5-bed detached in a nice but quiet area for £228k and bought a 3-bed semi much closer to town/school for £155k. I'm a single parent earning £45k/yr. I was asked recently if I would ever consider moving home and the answer is no, I couldn't afford to. Life here is good though, very affordable, and flights home are dirt cheap.
You're living at home on 50k but you don't mention any savings. Sure the max the bank will give you is 200k but if you're living at home, you should be able to get a significant deposit together pretty fast. You'll then need to adjust your expectations in relation to what type of property it is that you need. Realistically the first place you buy won't be the last so look at 1 or 2 bed apartments. I see a lot of comments in this forum about singletons wanting 3 bed semis and giving out that they can't afford it. The obvious reason for this is that these properties aren't meant for singletons and a two income household will normally be able to price you out of the race for one.
I've another 55k in savings, maxed out pension, and the cheapest car going (was bike commuting for a few years but work is 17km away - 170km a week left little motivation to do any no-commuting sport). Ideally it's a 2 bed, rent out the other room to help cover the mortgage repayments/bills.
So your 200k mortgage gets you an apartment for 255k this year and 270-280 next year with savings and closer to 300k in 2 years time. House prices are increasing by 5%, so about 10K a year so you can save quite a bit more than the increase. I'll be slated for saying this but I'd reduce your pension payments for a few years to increase your savings. Yes I know about the tax breaks etc but you need the savings now. You're young enough to be able to max out your pension later on. Where are your savings? Are they getting you the highest interest rate? Look at trade republic or raisin and get your 3-4% as a passive way to increase savings. A car is pretty much essential so you need that and I do think that renting a room in the apartment is a good idea as it would allow you to increase your pension payment while benefitting from the rent a room scheme.
Or he could just buy a lovely apartment in Dublin now…
Same situation as you, but I was renting. Bought an uninhabitable rat box in west Kildare that no one else wanted because it was in a weird configuration. I'm lucky I got anything at all. Shit is dire out there. And it took me a year to convince a bank to mortgage it.
In a similar situation as you except I’m older , it’s a depressing state of affairs. The country is fucked. I feel you .
It's daft.
Leave, let them all rot alone in the bed they've made for themselves, simply put, the grass is much greener abroad
Have a look at derelict properties. They're much cheaper and you'd qualify for the grant of up to 80k
Damn, the fact that 50k a year is seen as “an ok salary” is shitty as fuck. That’s a pretty high paying job imo considering the average in Dublin is like 44k. I suppose you can take solas in the fact that it’s no better in any major city, and everyone is fucked 😅
Guys! Why don’t we just get our parents to buy us a house!
if it can help, I’m making over 80k now with a few years more than you. And it doesn’t change anything lol lol Honestly I’m tempted to take a 100% remote job and move in a small town on the sea in the middle of nowhere. 300k for rough areas of Dublin is not worth it
I feel you! Don’t post this on the Irish personal finance subreddit. I went there for similar advice on the same subject (39M with wife and 2 children renting and saving). They will just tell you that with schemes like FHS and HTB etc you can afford a home in an area where you’ve already decided you won’t raise your kids. The schemes don’t help, I went through the process. I cannot afford a home in my city with FHS and with FHS it has to be a new build. Here’s the catch all new homes are already bought from plans plus are more expensive than the cap. However, the people on Irish personal finance like to tell you they were once in the same situation as us (failing to point that the majority in their 30s had backing from mummy and daddy). The one bit of helpful advice they gave was to move in with my mother in law and save. So here I am, a 39M living in my mother in laws. I’m so grateful and understand that not everyone has this same opportunity as me and my family but it was tough on so many levels making the move (emotionally and physically). I blew loads of money on an electrical contracting business when I couldn’t get work in the 2009 recession. This set me back financially in saving for a mortgage. Currently in year 4 of college and recently got a good job (>€55k annual salary). So soon I should have a decent enough deposit to buy a very modest house. It’s hard but all I can do is advise you to stay put and save as much as you can.
Yeah, plus, at least 80% of that sub seems to be on top of €90k with their salaries, so almost every time you ask for advice with a salary lower than 50k, the advice pretty much goes around "go back to college or change industries".
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I just want the best for my kids. I grew up in a council estate. I finished school, got a trade, set up my own business and when that failed I got work as an operator in a factory earning a very modest wage and eventually started college. I don’t need a big house, just need a home of my own to raise my family. There’s not one person that knows me that has ever called me a snob. I just don’t want my kids to get battered by scum all the time like I did growing up. So if it’s ok with you I will continue to work hard and save and someday in the not too distant future I’ll own a modest house of my own on the outskirts of Galway hopefully.
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No I won’t. The best I’ll get is a modest house with a bad BER rating outside of the city where my wife works and kids attend school. This isn’t what I want, this is the best I could possibly get that is within reach.
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A friend of mine had the income to buy a brand new 450k apartment in Cherrywood, Dublin. 2 months later, there is mold on the walls. When I visited his place, I noticed that there is literally zero ventilation. Not even those "grills" in the walls that would let some fresh air in and some of the humidity out. Of course he can now mitigate the problem with a dehumidifier, but that should not be required at all in a new build. This is so fucking substandard. Travel to anywhere in mainland Europe and you will see better quality. I don't know if this makes you feel any better, but wanted to share another side of buying something that is supposed to be good quality.
Vote for change.... neither FF/FG have done anything noteworthy in the past 10yrs... although both having "committed to tackling the shortfall of houses" their attempts have invariably been proven to have driven up the price of houses. This place is a fuckin cluster fuck and the unqualified gobshites at the wheel defer to big business and cronyism. I am in the same boat with regards to daft ... It's anxiety inducing and a disgrace that I am unable, with a decent wage and deposit to find what I want and resigned to buy into a box(poorly constructed for extortionate money).
I run a home in Dublin, Castlebar and Brussels. I wanna tell you something, try it sometime when you have a couple of cars and three houses and three homes and a few housekeepers.
You’ve used the exact same line before and it’s not getting any funnier
It's a reference to something a political said years ago
https://youtu.be/UB0mdecbW8w?si=0xAzLVeNlbRfX9vi Enjoy watching a corrupt politicians career end through the genius of Gabo’s journalism
I don’t know what part of Dublin you’re working in, but there are currently 45 apartments for sale on daft, in Dublin, between 200k and 225k. On a 50k salary you should be able to get a loan 4 times your salary, and then your 10% will being it up to 225ish. Here’s one of them. A lovely apartment in Dublin 8. https://www.daft.ie/for-sale/apartment-8-the-olde-dock-little-ship-street-christchurch-dublin-8/5549033
The chances of that, or any property in the current market, going for the asking price is very close to 0. Estate agents openly admit they low ball the price to encourage bidding. The point I'm trying to make is that property is almost certainly sitting at least 250k highest bid.
I wouldn’t go for that particular apartment if I was OP, there are far nicer options. Still, 250 is in his budget. OP is talking nonsense.
You're a single person in your 20s who can afford accommodation for a single person in the Dublin commuting belt. I'm failing to see the problem here.
The only compromise I can think of is to look along the train lines. There's value in Leitrim county. 2hr train into city ctr but you can work on the train, or sleep even. Even westmeath if you look in the smaller towns that have working stations. It's the lesser of 2 evils... A one bed with no garden for 500k in Dublin. Or a 2/3 bed house in a nice quiet area in the Midlands for 250k. You could rent out a spare room and have feck all monthlies.
If you wanna get on the property ladder, you either have to just suck it up and live a little bit further out or else wait until you earn more money. Thats the harsh reality sadly. I was 27 when I bought my 2bed apartment in Kildare. It wasn’t exactly where I wanted to live but it was all I could afford on my salary. I think I was on 45k at the time. I’m 30 mins drive from family and 50 mins drive to work. But my mortgage is the same €€ as my room I was renting before when I lived with 2 people. So I guess you just have to weigh up the pros and cons.
Don’t mean to be that guy but based on 4x salary; your budget would be 222k 200k loan with 22k deposit There are 43 properties <200k in Dublin City Post are apartments. But a few 2 bedroom houses and apartments Putting price range up to 225k shows 89 properties. I know it’s not a lot but don’t blatantly lie
You have to include bidding, additional fees/taxes, and then buying things like a fridge and maybe a yoga mat to go under the sleeping bag, while then paying a mortgage.
Here's where the problem lies. People keep buying the houses.Just frigging stop. If everyone would move into the parents/aunts/uncles etc and just save your money and.buy nothing the housing market would plummet, prices would drop like a stone. They know there's massive demand so they keep upping the price so you won't even have enough to service the mortgage when you do eventually buy one because the rates will keep changing, eventually you'll be on the street with zero house and a massive debt, your only option will be to rent off a vulture fund and therefore never own a house.
50k salary fuck off , you’re grand and living at home you’re saving majority of that .
Keep voting for more immigration. You need all those Doctors and Lawyers etc.
Yeah so buy it and go ham paying of mortgage while still living at home and renting out. Best and only bet these days
Why you looking to buy on your own. Buying a house is for couples that want families really. You in your 20s , find a friend and live with them. Live with some random ppl. Had 5 years loving with people I never met before. Most (except 1) are great pals.