Saving/Applying for a mortgage 2015/16/17/18/19

listermint

Cuddlesworth wrote: »

Lets see, Arklow apartment at 110k(cheapest) to, lets say, Harcourt street.

Working 9 to 5.

By car,
Arriving at 9am, estimated time 0:55 to 2:00.
Leaving at 5pm, estimated time 1:05 to 2:00.

So on a good day, 2 hours. On a bad day, 4 hours. Lets split it and say 3 hours, I think that's fair.

Public transport is 1:40 leaving and 2:00 getting back. Add some leeway for waiting for the transport options and you have a nice sweet 4 hour commute time.

Average commute is 30 minutes in the country.

Minimum wage is 9.25 a hour. Working days during the year is 232 days.

By car it costs you 580 hours a year over the average commute(2.5 hours extra a day) and 5365 pre tax income a year compared to working that time in a minimum wage job locally.

By bus its 812 hours a year and 7511 Euros a year at minimum wage.

Not to humble brag, but I don't earn minimum wage. And if I worked out a choice between a 4 hour commute time or doing some paid overtime or doing odd jobs in the evening, its a nobrainer for me.

If you put a value on your time, even if you intend to earn no money on it, its never worth it to waste nearly 20% of your waking day to simply travel to and from work.

I wouldn't work in Harcourt street and drive even if I lived in south Dublin which is what 20 minutes to town according to estate agents.

Notice you didn't work out train journeys in your calculations.

Not to humble to brag but I don't earn minimum wage I have a 4 bed house outside Wicklow which has views of the sea enough garden to build five more houses and it didn't cost the earth.I've forest walks around my house and river walks

I work in south Dublin and get to work in under the time any of my aquaintances take to get into their city center work places.

I guess if you put value on your lifestyle over how close you are to work and not paying down a stupidly big mortgage until your 70 then you know you simply don't have to spend all day traveling nor turn your nose up at property outside Dublin.

Cuddlesworth

listermint wrote: »

I wouldn't work in Harcourt street and drive even if I lived in south Dublin which is what 20 minutes to town according to estate agents.

Notice you didn't work out train journeys in your calculations.

I live in Loughlinstown, which is pretty much the edge of Dublin and my options for Harcourt street take half the time by car and by public transport. You know, with the luas, the dart, the QBC all the way into the city center. That run roughly every 10 minutes. Bike is nice at 50 minutes, motorbike used to do me 25 both ways.

I just looked at the trains. Its 1:30 to 1:40 to Pearse Station, coupled with the journey to the Station itself, the assumed dwell time(if you have ever relied on CIE, you would know the train leaves when it wants to) and the journey to work. Plus the fact there are only 7 trains a day. Must be a nice wait if you miss one and are reliant on a tax saver ticket.

listermint wrote: »

Not to humble to brag but I don't earn minimum wage I have a 4 bed house outside Wicklow which has views of the sea enough garden to build five more houses and it didn't cost the earth.I've forest walks around my house and river walks

I work in south Dublin and get to work in under the time any of my aquaintances take to get into their city center work places.

I guess if you put value on your lifestyle over how close you are to work and not paying down a stupidly big mortgage until your 70 then you know you simply don't have to spend all day traveling nor turn your nose up at property outside Dublin.

Amenity's on offer, convenience of location, affordability and valuing your time are all important decisions in making a purchase. There are always pro's and con's to any choice.

In your circumstances they seem to work for you. For the example I posted, I don't believe they do, based on the supposed commute time and you seem to be unable to really refute that with anything but hearsay. And the city center is a large source of employment for a large number of people.

My timelines are based on the cheapest apartment in Arklow that I could find. It wasn't a 4 bed detached house with lots of land, a sea view and in what I assume is good condition. It was a craphole that needed a lot of work. Because a quick gander at myhome again tells me that we are in the 350k for your house, which requires a 35k deposit for a first time buyer and a single income of 90k for the remaining mortgage.

As for lifestyle choices, spending more time a day travelling is a pro or con in your book in regards your lifestyle? Because for me, valuing my lifestyle is part of valuing my time.

kippy

DancingHomer wrote: »

Yep, plenty of cheap property well within commuting distance of Dublin. Lots of smart arse's here who think they know it all, yet seem blissfully unaware of what's for sale outside their own little bubble. Try searching the propery price register for 'magical' places called Carlow, Portlaoise, Portarlington, etc. Prices are as i have stated, so you all know what you can do with your sarcasm lads!

And who gives a rats what it costs on fuel for your 'chopper' lol. Take the train, or car share, or whatever it takes. It's a better alternative than sitting on your holes blaming de gubberment for your own inertia.

Sorry to all, I may have assisted in derailing the thread but this needs a response.
-Carlow, Portlaoise and Portarlington are not within an hour commute of Dublin City center at peak hours.
-There are currently 6 2 bed apartments for sale in Portlaoise. Cheapest asking at 95k rising to 130K

Bananaleaf

Guys - I know property tax rates are different per household, but how much are we talking per year, on average? I checked the revenue site and from what I can see the property we are looking at fits into the 3rd band - 150,000 - 200,000k. What would we be looking to pay, roundabouts? Can't find figures online

DancingHomer

kippy wrote: »

Sorry to all, I may have assisted in derailing the thread but this needs a response.
-Carlow, Portlaoise and Portarlington are not within an hour commute of Dublin City center at peak hours.
-There are currently 6 2 bed apartments for sale in Portlaoise. Cheapest asking at 95k rising to 130K

Are you planning on buying seven apartments or something? Is six properties for sale at any one point in time not enough for you to choose from?

And asking prices are not selling prices. People can ask for 130k for a flat in Portlaoise, doesn't mean that's what it sells for. Check the property price register instead.

And then go and check the Irish Rail website. Journey times from Portarlington to Heuston is between 41 minutes and 1 hour. Brings you right into the city centre. Prices in Portarlington are cheaper again compared to Portlaoise. 2 bedroom 700sq foot GFCH apartment sold for 82k on the PPR earler this year.

If you can't afford a two bedroom, buy a one bedroom for 50k.

Carlow prices for similar 2 bed are 70k on PPR. 1 hour 5 minutes according to Irish Rail.

Some people who claim they can't get on the property ladder are in denial. I don't know. I think they just won't admit to themselves that they won't lower themselves to live in the sticks.

Junadl

Bananaleaf wrote: »

Guys - I know property tax rates are different per household, but how much are we talking per year, on average? I checked the revenue site and from what I can see the property we are looking at fits into the 3rd band - 150,000 - 200,000k. What would we be looking to pay, roundabouts? Can't find figures online

Found this for you

http://www.citizensinformation.ie/en/money_and_tax/tax/housing_taxes_and_reliefs/local_property_tax.html#l62fd2

kippy

DancingHomer wrote: »

Are you planning on buying seven apartments or something? Is six properties for sale at any one point in time not enough for you to choose from?

And asking prices are not selling prices. People can ask for 130k for a flat in Portlaoise, doesn't mean that's what it sells for. Check the property price register instead.

And then go and check the Irish Rail website. Journey times from Portarlington to Heuston is between 41 minutes and 1 hour. Brings you right into the city centre. Prices in Portarlington are cheaper again compared to Portlaoise. 2 bedroom 700sq foot GFCH apartment sold for 82k on the PPR earler this year.

If you can't afford a two bedroom, buy a one bedroom for 50k.

Carlow prices for similar 2 bed are 70k on PPR. 1 hour 5 minutes according to Irish Rail.

Some people who claim they can't get on the property ladder are in denial. I don't know. I think they just won't admit to themselves that they won't lower themselves to live in the sticks.

You are the one saying they can be got for 70k. Show us.
Once those six are gone or demand increases what do you think happens prices? Six is a relatively small number which would hardly sustain demand for this group of people.
A commute time does not just consist of station to station.

zl1whqvjs75cdy

And heuston is not the centre of Dublin. It's a crap station miles from the docklands or baggot street area where a huge number of people need to get to.

listermint

Cuddlesworth wrote: »

I live in Loughlinstown, which is pretty much the edge of Dublin and my options for Harcourt street take half the time by car and by public transport. You know, with the luas, the dart, the QBC all the way into the city center. That run roughly every 10 minutes. Bike is nice at 50 minutes, motorbike used to do me 25 both ways.

I just looked at the trains. Its 1:30 to 1:40 to Pearse Station, coupled with the journey to the Station itself, the assumed dwell time(if you have ever relied on CIE, you would know the train leaves when it wants to) and the journey to work. Plus the fact there are only 7 trains a day. Must be a nice wait if you miss one and are reliant on a tax saver ticket.



Amenity's on offer, convenience of location, affordability and valuing your time are all important decisions in making a purchase. There are always pro's and con's to any choice.

In your circumstances they seem to work for you. For the example I posted, I don't believe they do, based on the supposed commute time and you seem to be unable to really refute that with anything but hearsay. And the city center is a large source of employment for a large number of people.

My timelines are based on the cheapest apartment in Arklow that I could find. It wasn't a 4 bed detached house with lots of land, a sea view and in what I assume is good condition. It was a craphole that needed a lot of work. Because a quick gander at myhome again tells me that we are in the 350k for your house, which requires a 35k deposit for a first time buyer and a single income of 90k for the remaining mortgage.

As for lifestyle choices, spending more time a day travelling is a pro or con in your book in regards your lifestyle? Because for me, valuing my lifestyle is part of valuing my time.

My bike journey is 35 minutes, you can get down from the high horse of valuing commute time I'd say I'm at my desk the same time as you, knowing full well bus times into the city Centre from loughlinstown as I used to live there, ten minutes is waffle unless it's a flying bus...

So yes I've the same travel and better quality home life.

And I don't need to dress up figures.

Incidentally loughlinstown has feck all in it and I had to travel everywhere to do anything. Defining feature tbf was the apartments view but alas.


Anyway before we go further off thread here a point was made that there is life outside the Dublin border and there is, so stop trying to wash it away. It would suit some people it doesn't suit others. Keep it to the facts

DancingHomer

donkeyoaty0099 wrote: »

And heuston is not the centre of Dublin. It's a crap station miles from the docklands or baggot street area where a huge number of people need to get to.

Ah that's pathetic. No train station exists on Baggot St. You're just looking for excuses to stay within the M50. I've now shown you that can get a flat for peanuts within 40 minutes of the city centre and you're turning your noses up at it. Lads, i don't care if you don't want to lower your unattainable standards because you'd miss Roddy Bolands... do what ye like with your lives and keep blaming everyone else for your inertia!

ELM327

myshirt wrote: »

That is the standard I'm afraid, other than that it's the wild west, but yes for your own situation absolutely measure it door to door from the apartment to your place of work. However for those advertising Navan or Trim as 30/40 minutes to Dublin I'm not buying it. It's at least 1 hour, and a painful hour at that.

Currently living 15 km north of navan.
Arrived to work in Dublin today in just over 40 minutes. I had to stop at Maxol on the way for a coffee.

I've driven in for paid overtime at the weekend and made it in 30 minutes as there's no traffic.
My most common work location is blanchardstown. So that's definitely 40 minutes realistically from navan. If you're coming from the south (ie J8) side of Navan it can be done in less than 30.

budhabob

Commuting is tough (for some), and I would suggest to anyone to trial it before jumping 2 feet into it. I commuted in Dublin from Laois and Naas for about 8 years, and I found it so draining. So 2 years ago we took the plunge and bought in Dublin. While it might take me as long sometimes by public transport to get to work, the option to jump in a taxi and be there / home in 10-15 minutes is a great option to have. Dropping a car has saved us a lot of money also.

Sarn

I think people have to acknowledge that journey time depends on where you work in Dublin city. If you work on the outskirts or right beside the train station then the option of living in another county is a lot easier.

In my office i worked with a few people who commuted from Portlaoise. For them it was a brisk 40 min walk or 20 min bus journey after Heuston station to get to the Leeson st side of Stephens green. Door to door it averaged 1hr 30 min. They did it for a few years but gave it up in the end as their quality of life was suffering.

Ultimately it comes down to what is important to you.

listermint

budhabob wrote: »

Commuting is tough (for some), and I would suggest to anyone to trial it before jumping 2 feet into it. I commuted in Dublin from Laois and Naas for about 8 years, and I found it so draining. So 2 years ago we took the plunge and bought in Dublin. While it might take me as long sometimes by public transport to get to work, the option to jump in a taxi and be there / home in 10-15 minutes is a great option to have. Dropping a car has saved us a lot of money also.

Exactly!, Its good to get multiple opinions on it as it give more people food for thought. Rather than some folks here who just shoot down anything that is outside their own personal experiences down.


Although id never recommend anyone to commute from portlaoise particularly because that N7 is probably the worst road in the country.

guile4582

listermint wrote: »

My bike journey is 35 minutes, you can get down from the high horse of valuing commute time I'd say I'm at my desk the same time as you, knowing full well bus times into the city Centre from loughlinstown as I used to live there, ten minutes is waffle unless it's a flying bus...

So yes I've the same travel and better quality home life.

And I don't need to dress up figures.

Incidentally loughlinstown has feck all in it and I had to travel everywhere to do anything. Defining feature tbf was the apartments view but alas.


Anyway before we go further off thread here a point was made that there is life outside the Dublin border and there is, so stop trying to wash it away. It would suit some people it doesn't suit others. Keep it to the facts

life outside dublin, i know there is..but as a single person, plonking myself in carlow or somewhere knowing no one at my age is just a non runner..and yes i do know the saying..beggars can't be choosers

guile4582

ELM327 wrote: »

Currently living 15 km north of navan.
Arrived to work in Dublin today in just over 40 minutes. I had to stop at Maxol on the way for a coffee.

I've driven in for paid overtime at the weekend and made it in 30 minutes as there's no traffic.
My most common work location is blanchardstown. So that's definitely 40 minutes realistically from navan. If you're coming from the south (ie J8) side of Navan it can be done in less than 30.

schools are off

shamrock55

Change the title of this thread to
'my Dublin commute'

ELM327

budhabob wrote: »

Commuting is tough (for some), and I would suggest to anyone to trial it before jumping 2 feet into it. I commuted in Dublin from Laois and Naas for about 8 years, and I found it so draining. So 2 years ago we took the plunge and bought in Dublin. While it might take me as long sometimes by public transport to get to work, the option to jump in a taxi and be there / home in 10-15 minutes is a great option to have. Dropping a car has saved us a lot of money also.

My "fuel" is free as I have an electric car and workplace charging
Agreed, it's difficult enough but a lot of people in dublin are in stop start traffic for 30-45 minutes anyway.

guile4582 wrote: »

schools are off

yeah but it's normally 40-45 minutes. I take J4 off the m3 so there's never really any traffic.

Paulw

Mod Note: Folks, can we please try to keep this on topic, and not go off in a tangent about your commute to work, etc.

Colonel Claptrap

A single applicant on 60k salary is not the same as joint applicants on 30k each.

A single applicant carries a much higher risk profile in the eyes of a bank.

Bananaleaf

Hi all. Another question. I have been bidding back and forth for a property, and for the last 3 weeks it has been increasing steadily. There were updates coming in a couple of times per day at one point. For the past two days there has been nothing. I am currently the highest bidder. I'm wondering what my tactic as buyer should be at this stage, if I should have any at all. Do I wait? Do I put pressure on EA for an update? I gather EA will do their own thing regardless, but I wonder am I foolish to sit back and wait or should I be angling to have it all wrapped up now that the interest is dropping? I gather the EA would happily leave it on market for as long as they can if I'm not pushy about an update?

thanks

Cuddlesworth

listermint wrote: »

I have a 4 bed house outside Wicklow

My bike journey is 35 minutes, you can get down from the high horse of valuing commute time I'd say I'm at my desk the same time as you,

Its over 2 hours from Wicklow Town to South Dublin by bike. So if your 35 minutes away, your between Bray and Greystones right? And those houses are "cheap country living" right?

listermint wrote: »

knowing full well bus times into the city Centre from loughlinstown as I used to live there, ten minutes is waffle unless it's a flying bus...

Luas departures are 4-10 minutes during peak

On the N11, the 145 is every 20 minutes, 84x every 10 minutes during rush hour.

Dart is every 5 minutes.

Dwell times are not a proper consideration when your transport frequency and options are good.

listermint wrote: »

So yes I've the same travel and better quality home life.

Doesn't sound like it

listermint wrote: »

And I don't need to dress up figures.

Or provide them apparently.

listermint wrote: »

Incidentally loughlinstown has feck all in it and I had to travel everywhere to do anything. Defining feature tbf was the apartments view but alas.

Loughlinstown has the entirety of the amenities that Dublin city center has, as it has public transport options both into and out of it. Or are you limited to just country walks as your only pastimes?

listermint wrote: »

Anyway before we go further off thread here a point was made that there is life outside the Dublin border and there is, so stop trying to wash it away. It would suit some people it doesn't suit others. Keep it to the facts

Facts are what I am providing. There are pro's and con's to moving further out from Employment centers and they don't revolve around the argument that "there is a life outside Dublin". There is life in the middle of the Atlantic Ocean, doesn't mean I want to live and commute from there.

Cuddlesworth

Bananaleaf wrote: »

Hi all. Another question. I have been bidding back and forth for a property, and for the last 3 weeks it has been increasing steadily. There were updates coming in a couple of times per day at one point. For the past two days there has been nothing. I am currently the highest bidder. I'm wondering what my tactic as buyer should be at this stage, if I should have any at all. Do I wait? Do I put pressure on EA for an update? I gather EA will do their own thing regardless, but I wonder am I foolish to sit back and wait or should I be angling to have it all wrapped up now that the interest is dropping? I gather the EA would happily leave it on market for as long as they can if I'm not pushy about an update?

thanks

I'f your concerned then put a timeline on your offer. But be prepared to follow through with it.

listermint

Cuddlesworth wrote: »

Its over 2 hours from Wicklow Town to South Dublin by bike. So if your 35 minutes away, your between Bray and Greystones right? And those houses are "cheap country living" right?



Luas departures are 4-10 minutes during peak

On the N11, the 145 is every 20 minutes, 84x every 10 minutes during rush hour.

Dart is every 5 minutes.

Dwell times are not a proper consideration when your transport frequency and options are good.



Doesn't sound like it



Or provide them apparently.



Loughlinstown has the entirety of the amenities that Dublin city center has, as it has public transport options both into and out of it. Or are you limited to just country walks as your only pastimes?




Facts are what I am providing. There are pro's and con's to moving further out from Employment centers and they don't revolve around the argument that "there is a life outside Dublin". There is life in the middle of the Atlantic Ocean, doesn't mean I want to live and commute from there.

Motorbike.


You made the assertion that it takes you 10 minutes to get town by bus that's a lie.


You come in here and deride peoples opinions when they give options outside Dublin because you get some weird joy out of it.

Loughlinstown is a waste land with apartments built on it, don't give my any guff about having the same facilities as the city Centre in it you seem to forget your talking to someone who lived there.


I advise you to Consider that a messaging board is for opinions and experiences if you want to give out negative responses to ever other person that doesn't share your viewpoint you will get them back.


Loughlinstown facilities... Classic one...

Cuddlesworth

listermint wrote: »

You made the assertion that it takes you 10 minutes to get town by bus that's a lie.

Where?

Juwwi

Hi can anyone who closed a sale and was owed money from solicitor remember how long it took to sort out closing balances ?

Am I right in thinking over 2 weeks with no contact about it is bad form or am I jumping the gun a bit .

ad1234

Has anyone here used a bonus from work towards part of a deposit? We asked work not to pay it it yet, sort of like a place to save it, and to write the check directly to EA/solicitor at the time it's needed. Will this be tax able and would the bank mind or need to see it in our account first when applying for mortgage approval?

Graham

ad1234 wrote: »

Has anyone here used a bonus from work towards part of a deposit? We asked work not to pay it it yet, sort of like a place to save it, and to write the check directly to EA/solicitor at the time it's needed. Will this be tax able and would the bank mind or need to see it in our account first when applying for mortgage approval?

It will be taxable like any other income. Would you not be better off to put it into your savings account rather than try to explain you have invisible savings elsewhere?

ad1234

Graham wrote: »

It will be taxable like any other income. Would you not be better off to put it into your savings account rather than try to explain you have invisible savings elsewhere?

Thanks Graham. yeah might go down that route still. we just knew it was safe there so kept it as that so far.

Bananaleaf

We went sale agreed on Friday! Super happy. Vendor wants a quick sale as do we, so lots of work to be done from tomorrow! One step closer ...