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Advice!

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  • 30-11-2006 6:48pm
    #1
    Discrepancy
    Closed Accounts Posts: 2 ✭


    Hi,

    I am in a alot of despair and i need advice on what to do...

    I have a g/f of 7 years and we have a 4 yo boy. We were renting but last year we decided to move into my mother so that we could save for a house.

    We have saved 20k and we need to get out of my mothers asap (for various reasons)

    My options are...

    Jump in and get a mortgage. I would get about 300k which is not gonna get me much in dublin and i dont want my son growing up in an area that i could afford right now (im living in clondalkin so im not a snob!) and im very anxious about investing in property at the moment until i see what happens with the market.

    Wait and see if the affordable housing treshold increases (it 40k at the mo in my area, i earn about 45k)

    Private rent

    Private rent but get the social to pay for it, this would mean that she would have to give up her job, something she is not keen to do.

    I am being driven to the depths of despair and would really appreciate any comments/suggestions.

    Thanks

    Alan


Comments

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    #2
    jdivision
    Registered Users Posts: 4,260 ✭✭✭jdivision


    The income limits for affordable housing are different if you're applying as a couple. In addition, the limit in Dublin City Council for a single person is e65k and there is no limit on the Dun Laoghaire Rathdown list which will open again in December - there's usually a deluge of applications however. In addition you should apply to the affordable housing initiative - the income limit there is typically e55k.


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    #3
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭Zambia


    Mate just rent ...

    Keep looking about for a house, and if you are renting barter for a good deal a lot of Landlords will take a lower rent than advertised for the right couple..

    I know I did

    However I have sold all my property in the republic I felt i was on the top off a very slower boring ride downhill...


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    #4
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    Renting may be your best option, or else just buy what you can afford.

    House prices aren't going to decrease dramatically in the near future. The prices are only levelling out right now, and if the govt do change anything in relation to first time buyers, then this will fuel price increases again. A change to stamp duty will not help the prices.

    Bottom line - you know your own finances.


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    #5
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    well done saving 20k too.


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    #6
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭Zambia


    Sponge Bob wrote:
    well done saving 20k too.

    Agree totally ... bet your sick of koka noodles by now


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