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How do most people get their deposit to buy a house?

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    #92
    wandatowell
    Registered Users Posts: 8,435 ✭✭✭wandatowell


    In reagrds to gifts from parents, My auntie and husband struck a compromise with their son, for every euro he saved they would gift him €.50

    This started once he completed college and it gave him a goal to work towards.


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    #93
    HerrKuehn
    Registered Users Posts: 2,066 ✭✭✭HerrKuehn


    bigdaddy2010 wrote: »
    We have been saving for a few years now and have accumulated 120k.

    My income 2550 a month after tax and my wife 3290.

    Savings per month:
    Me- 1516. Wife- 1000

    Rent- 700

    Free to air TV

    Both on tesco mobile 15e each

    It can be tough but we have sacrificed and have 2 10 year+ cars which take us from a to b.
    Will be worth it hopefully when we get a house.

    Just really examine what your priorities are in life.

    Exactly, it is doable, but most people are not willing to make the sacrifices.


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    #94
    Gally05
    Registered Users Posts: 253 ✭✭Gally05


    I moved back in with my parents when I decided I was going to get my own place
    I saved everything that I could for 2 solid years enough to get my deposit together (only needed 8% at the time). I had my deposit and more to finished the house to my spec and standard
    I was lucky in that I was 'buying' the house from a relative and my LTV rate was pretty good also


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    #95
    Gally05
    Registered Users Posts: 253 ✭✭Gally05


    bigdaddy2010 wrote: »
    We have been saving for a few years now and have accumulated 120k.

    My income 2550 a month after tax and my wife 3290.

    Savings per month:
    Me- 1516. Wife- 1000

    Rent- 700

    Free to air TV

    Both on tesco mobile 15e each

    It can be tough but we have sacrificed and have 2 10 year+ cars which take us from a to b.
    Will be worth it hopefully when we get a house.

    Just really examine what your priorities are in life.


    This is how you do it !!!! Respect


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    #96
    Tasden
    Closed Accounts Posts: 4,166 ✭✭✭Tasden


    Dog of Tears wrote: »
    No it doesn't, but if a person in their mid-20's or older, requires financial support from their parents to make their way in the world, then something has gone wrong somewhere along the line.

    .

    Yes, and that something may not be through any fault of their own.


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    #97
    The Spider
    Registered Users Posts: 1,273 ✭✭✭The Spider


    lima wrote: »
    'Investment' lol

    Didn't you buy an apartment recently?


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    #98
    drumswan
    Closed Accounts Posts: 2,592 ✭✭✭drumswan


    HerrKuehn wrote: »
    Exactly, it is doable, but most people are not willing to make the sacrifices.

    For some, scrimping and saving and penny pinching through your twenties and early thirties just so you can eventually live in some boring suburb or commuter town is not exactly appealing.


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    #99
    Starscream25
    Closed Accounts Posts: 1,122 ✭✭✭Starscream25


    drumswan wrote: »
    For some, scrimping and saving and penny pinching through your twenties and early thirties just so you can eventually live in some boring suburb or commuter town is not exactly appealing.

    Long term it's worth it, I had hoped to avoid renting past the point where I could of paid off the price of a house. Each to their own though.


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    #100
    mariaalice
    Registered Users Posts: 12,495 ✭✭✭✭mariaalice


    drumswan wrote: »
    For some, scrimping and saving and penny pinching through your twenties and early thirties just so you can eventually live in some boring suburb or commuter town is not exactly appealing.

    How is being sensible with your money scrimping, saving is normal!...imagine having to live in a suburbs the deprivation!.


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    #101
    HerrKuehn
    Registered Users Posts: 2,066 ✭✭✭HerrKuehn


    drumswan wrote: »
    For some, scrimping and saving and penny pinching through your twenties and early thirties just so you can eventually live in some boring suburb or commuter town is not exactly appealing.

    I spent half my twenties travelling in Asia, came back without a penny. Only really started saving when I was 25. Everyone has different priorities and we all make our own choices.


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    #102
    drumswan
    Closed Accounts Posts: 2,592 ✭✭✭drumswan


    mariaalice wrote: »
    How is being sensible with your money scrimping, saving is normal!...imagine having to live in a suburbs the deprivation!.

    Each to their own as everyone keeps saying. I can think of more interesting things to do with cash when you are young than putting it in a savings account to buy a semi-d in suburbia. Some people can even do both, fair play to them!


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    #103
    eviltwin
    Registered Users Posts: 17,495 ✭✭✭✭eviltwin


    drumswan wrote: »
    For some, scrimping and saving and penny pinching through your twenties and early thirties just so you can eventually live in some boring suburb or commuter town is not exactly appealing.

    What's the alternative? You can't go out and live a mad life in your youth and still be able to buy a house. Not unless you are earning serious money. For most of us though, its worth it. Have you never cut back on your nights out to pay for something, a holiday, a car? What is it only a few nights and some drinks, sure you can do that at home. Saving didn't mean I became a hermit, I still saw my friends, we would still hang out but we were a bit more frugal. We would only go out on special occassions, the rest of the time we'd bring a few bottles round to a mates house. It was worth it when I got those keys in my hand and a great lesson in budgeting. And I quite like living in the suburbs :)


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    #104
    Alf Veedersane
    Registered Users Posts: 24,615 ✭✭✭✭Alf Veedersane


    drumswan wrote: »
    Each to their own as everyone keeps saying. I can think of more interesting things to do with cash when you are young than putting it in a savings account to buy a semi-d in suburbia. Some people can even do both, fair play to them!

    You don't have to become a hermit, eat nothing but porridge and drink water in order to save.

    At some point in your life you decide you don't want your living situation to be left in someone else's hands, i.e. the landlord. It's useful to have savings if you want to buy your own place, whether that's an apartment in the city, a terraced house in/near the city or a semi-d in the suburbs.


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    #105
    Starscream25
    Closed Accounts Posts: 1,122 ✭✭✭Starscream25


    I don't live frugally but more efficiently I'd like to think, it's become a way of life for me, I looked at my 20's as a 'window of oppurtunity' to get myself a place eventually, on 30k a year I saved and saved, rented a cheap room close to work, went on my annual snow holiday which ain't cheap, kept myself happy with a few material objects while also going out every 3/4weeks, I had good company in housemates too so going out all the time wasn't an issue for me.
    Can't stress enough, cook your own food and make your own lunch, you'll save packets over the course of time, avail of free text messages online etc.
    It's relatively easy to live a financially balanced lifestyle in your 20's if you are any way sensible.


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    #106
    FURET
    Closed Accounts Posts: 685 ✭✭✭FURET


    eviltwin wrote: »
    What's the alternative? You can't go out and live a mad life in your youth and still be able to buy a house.

    Not for everyone, but one could start by rejecting the premise that one has to buy a house.

    If I were a young lad with some smarts, I'd get qualified in something that has economic potential and something I could travel with. Do this, and you ensure that you can work from anywhere and pretty much always be in demand. You also avoid buying a house, because when you do so, you are limiting your ability to relocate. You can then use your mid to late 20s to have fun while earning and saving, moving around every few years to advantageous locations, accumulating wealth and having a good time. If required, when the time comes, you can buy a house with cash.


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    #107
    drumswan
    Closed Accounts Posts: 2,592 ✭✭✭drumswan


    eviltwin wrote: »
    What's the alternative?

    There are loads of alternatives - putting the career on hold and spend a year or two travelling the world or attempting to start a business in a field you love knowing it might not work out, or writing a novel, or doing charitable work for self-fulfillment, or moving elsewhere and starting from scratch learning a new language, or attempting to reach a serious level as an athlete, or becoming a religious devotee, or growing a beard and studying Kantian philosophy or one of a dozen other things. Choose life etc.


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    #108
    Alf Veedersane
    Registered Users Posts: 24,615 ✭✭✭✭Alf Veedersane


    Starscream25 wrote: »
    I don't live frugally but more efficiently

    BINGO!


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    #109
    eviltwin
    Registered Users Posts: 17,495 ✭✭✭✭eviltwin


    drumswan wrote: »
    There are loads of alternatives - putting the career on hold and spend a year or two travelling the world or attempting to start a business in a field you love knowing it might not work out, or writing a novel, or doing charitable work for self-fulfillment, or moving elsewhere and starting from scratch learning a new language, or attempting to reach a serious level as an athlete, or becoming a religious devotee, or growing a beard and studying Kantian philosophy or one of a dozen other things. Choose life etc.

    Go for it. Nothing wrong with that but there is nothing wrong with wanting to put down some roots either.


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    #110
    Alf Veedersane
    Registered Users Posts: 24,615 ✭✭✭✭Alf Veedersane


    drumswan wrote: »
    There are loads of alternatives - putting the career on hold and spend a year or two travelling the world or attempting to start a business in a field you love knowing it might not work out, or writing a novel, or doing charitable work for self-fulfillment, or moving elsewhere and starting from scratch learning a new language, or attempting to reach a serious level as an athlete, or becoming a religious devotee, or growing a beard and studying Kantian philosophy or one of a dozen other things. Choose life etc.

    Part of life is having a roof over your head.

    You can still live a fulfilled life without having to píss away every penny you have and live from paycheck to paycheck.


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    #111
    drumswan
    Closed Accounts Posts: 2,592 ✭✭✭drumswan


    eviltwin wrote: »
    Go for it. Nothing wrong with that but there is nothing wrong with wanting to put down some roots either.

    Absolutely not, just pointing out that its not the only path in life and those who dont take it arent necessarily gob****es who waste all their money in Copper Face Jacks to be pitied because they dont live in a mortgaged 3-bed in Lucan by the time the are 35.


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    #112
    Alf Veedersane
    Registered Users Posts: 24,615 ✭✭✭✭Alf Veedersane


    FURET wrote: »
    If I were a young lad with some smarts, I'd get qualified in something that has economic potential and something I could travel with.

    I'd prioritise something I like doing rather than something that makes me lots of money and allowed me to travel the world.

    Happiness ftw.


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    #113
    Alf Veedersane
    Registered Users Posts: 24,615 ✭✭✭✭Alf Veedersane


    drumswan wrote: »
    Absolutely not, just pointing out that its not the only path in life and those who dont take it arent necessarily gob****es who waste all their money in Copper Face Jacks to be pitied because they dont live in a mortgaged 3-bed in Lucan by the time the are 35.

    There's a whole spectrum between Coppers and Lucan.


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    #114
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    The Spider wrote: »
    Didn't you buy an apartment recently?

    Yep, well in the process, but referring to it as an investment reminds me of when everyone was talking like that and now they are crippled with debt due to their investments being worth half of what they were..

    It was so nice of them to subsidize my purchase for me :rolleyes:


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    #115
    eviltwin
    Registered Users Posts: 17,495 ✭✭✭✭eviltwin


    drumswan wrote: »
    Absolutely not, just pointing out that its not the only path in life and those who dont take it arent necessarily gob****es who waste all their money in Copper Face Jacks to be pitied because they dont live in a mortgaged 3-bed in Lucan by the time the are 35.

    You can still have a life with a mortgage. Plenty of people here have shown how its possible to save for a house and still have a life.


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    #116
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    FURET wrote: »
    Not for everyone, but one could start by rejecting the premise that one has to buy a house.

    If I were a young lad with some smarts, I'd get qualified in something that has economic potential and something I could travel with. Do this, and you ensure that you can work from anywhere and pretty much always be in demand. You also avoid buying a house, because when you do so, you are limiting your ability to relocate. You can then use your mid to late 20s to have fun while earning and saving, moving around every few years to advantageous locations, accumulating wealth and having a good time. If required, when the time comes, you can buy a house with cash.

    Oh hi that's me :D


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    #117
    Alf Veedersane
    Registered Users Posts: 24,615 ✭✭✭✭Alf Veedersane


    lima wrote: »
    Yep, well in the process, but referring to it as an investment reminds me of when everyone was talking like that and now they are crippled with debt due to their investments being worth half of what they were..

    It was so nice of them to subsidize my purchase for me :rolleyes:

    If the house someone buys is worth half now what it was when they bought it but they haven't any intention of moving, then the value is meaningless and their investment in their own roof over their head is still a sound one.


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    #118
    Starscream25
    Closed Accounts Posts: 1,122 ✭✭✭Starscream25


    Some very good marketing out there makes it easy for us to feel like parting with large chunks of our earnings without batting an eyelid. If you want to save, avoid this bandwagon. Treat yourself but in moderation.


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    #119
    drumswan
    Closed Accounts Posts: 2,592 ✭✭✭drumswan


    lima wrote: »
    Oh hi that's me :D

    Me too, thank god for IT contracting


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    #120
    drumswan
    Closed Accounts Posts: 2,592 ✭✭✭drumswan


    eviltwin wrote: »
    You can still have a life with a mortgage. Plenty of people here have shown how its possible to save for a house and still have a life.

    Of course you can but you'll need to make rather large sacrifices and life a fairly safe life, which doesnt appeal to everyone.


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    #121
    FURET
    Closed Accounts Posts: 685 ✭✭✭FURET


    Alf Veedersane wrote: »
    I'd prioritise something I like doing rather than something that makes me lots of money and allowed me to travel the world.

    Happiness ftw.

    If you can find a job that pays well while making you happy, grand. If not, the happiness gleaned from whatever job you have may well rub up against the oppositional force of worries about debts and bills and a feeling that you're stuck.


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