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So how are you renters getting on?

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  • 18-02-2009 11:06am
    #1
    NewFrockTuesday
    Banned (with Prison Access) Posts: 1,405 ✭✭✭


    As suggested by Smcarrick in another thread, it would be interesting to see how people are getting on in the rental market in regard to the cost of rent, quality of apartment and intended duration of occupation.

    Rents are falling, the choice of property available to the renter is much better than it used to be and the availability of properties in your desired area is most likely to be tens times more than ever was before.

    Meanwhile, house prices are crashing - with another 30%+ (dont quote me, Im just plucking that out of thin air cos I most likely heard it about the place over the last few months), apartments are beginning to look tatty already, residency tax may be introduced and water meters are imminent (no doubt a touchy subject for the future). Insurance is huge, bills keep rising and where are interest rates going to go?

    So, what to do? Rent or buy? Are we going to go all continental and start renting on a life long basis? Or is it now just that we will rent longer and buy later? Are you happy youre renting instead of owning?

    Note - this is not a thread to thumb noses at people who have bought. Im pretty sure we dont have any property moguls on the board here, so no "Haha, they can all suffer now" digs as most owners here are just one house henrys who just want to keep it and weather the current conditions.

    Whats your rental situation 10 votes

    I couldnt afford to buy the standard of the acc Im renting
    0% 0 votes
    Im saving to buy but happy to rent
    60% 6 votes
    Rent is dead money
    20% 2 votes
    Im waiting till 2012 when a house will be worth €402.16 each
    20% 2 votes


Comments

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    #2
    Delirium
    Moderators Posts: 51,779 ✭✭✭✭Delirium


    Currently renting a place for 610 a month. Can't see myself buying anytime soon. Have had people telling me I should buy a house for a couple of years. But I can't really afford to do that by myself.

    If you can read this, you're too close!



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    #3
    shoegirl
    Registered Users Posts: 2,021 ✭✭✭shoegirl


    I'm renting a one-bed converted flat in Cork. I'm only paying 145 euros a week, but I don't have any real savings and would not be on an income high enough to save enough to pay a deposit without real long term pain, unless I went and lived in a very tiny house in a very remote area. Plus I am not from the area and unlikely to stay long term, so it would not be the wisest buy.

    Like a lot of people, my real issue is not having any savings to put down and not having a rich Daddy to give me the deposit or go guarantor.


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    #4
    ParkRunner
    Registered Users Posts: 3,026 ✭✭✭ParkRunner


    I was renting in a shared house in Dublin 3, €393 p/month which I loved but I would like to have a place to live and maybe even start a family, 2.4 kids and a dog! So I am back with the parents and saving half my wages in a bid to save a deposit, which is proving hard as the % of value mortgage available and level of deposit required changes fairly regularly, disposable income over the next few years is hard to predict and interest rates in the medium term will rise and rise. Also living with the parents is a test in itself!


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    #5
    shoegirl
    Registered Users Posts: 2,021 ✭✭✭shoegirl


    EF wrote: »
    I was renting in a shared house in Dublin 3, €393 p/month which I loved but I would like to have a place to live and maybe even start a family, 2.4 kids and a dog! So I am back with the parents and saving half my wages in a bid to save a deposit, which is proving hard as the % of value mortgage available and level of deposit required changes fairly regularly, disposable income over the next few years is hard to predict and interest rates in the medium term will rise and rise. Also living with the parents is a test in itself!

    I envy you lucky people who can live in the family home rent free.


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    #6
    SoupyNorman
    Registered Users Posts: 4,257 ✭✭✭SoupyNorman


    I dont fully agree with the notion that rents are falling as fast as is publicized. There is alot of potential buyers holding off from buying while prices fall, as there is no way that prices have bottomed out.

    People say 'sure the price couldnt go lower', you never know in a free and open economy...maybe in a year or 3 you could get a nice detached house for less then €80k! (well, thats what Im hoping)


    Maybe individual room rents and house rent is falling but for apartments in decent locations the dip has been marginal if at all.


    For the moment I'm pretty happy to rent as the cash saved due to property prices falling will far outweigh what I have spent on rent.


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    #7
    ParkRunner
    Registered Users Posts: 3,026 ✭✭✭ParkRunner


    shoegirl wrote: »
    I envy you lucky people who can live in the family home rent free.

    It's ok in the short term but any longer and it is worth the pain of paying rent/mortgage repayments, even if you can't buy fancy shoes ;)


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