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How many people here have bought property on their own?

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    #92
    fyfe79
    Registered Users Posts: 4,199 ✭✭✭fyfe79


    cormie wrote: »
    I'm assuming most people who bought on their own are, or were, single at the time or at least not in a relationship you wanted to make such a commitment as buying a house together, or just bought it as investment and not to get away from dead money rent?

    Exactly. I was single when I bought my 3 bed semi in late 2005. Mortgage arranged with PTSB through a broker. I overpaid for it of course, but thankfully I switched to a tracker after the first year fixed term finished, and that has saved my skin. I was looking through old letters from them (I keep all correspondence in a folder) and I think the highest rate of interest was 5% at one stage. It's now at 1%. I think the tracker has negated a good chunk of the negative equity. I've been overpaying the mortgage for most of the term and based on current projections, the mortgage will be paid by the end of 2023, which will have knocked about 12 years off the 30 year term.

    I'm now married with kids and with herself working too we hope to move somewhere a little nicer in the medium future (5 or so years).


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    #93
    SarahMollie
    Closed Accounts Posts: 2,843 ✭✭✭SarahMollie


    cormie wrote: »
    I'm assuming most people who bought on their own are, or were, single at the time or at least not in a relationship you wanted to make such a commitment as buying a house together, or just bought it as investment and not to get away from dead money rent?

    Well, did any of you ever consider buying with a friend or anyone else with the same idea to increase options and mortgage amount? If so, what were the reasons you decided against it?

    For anyone out there looking to buy, have you considered this at all and has anyone got a list of advantages and disadvantages of such an arrangement?

    I bought late last year and had been wiht my BF about 2 years at that time. It was simply that I'd always wanted to buy (right from the outset of our relationship, well actually about a year and a half before I even met him) but I had a few sale agreed's fall through so it didnt end up happening until just recently.

    Oh and yes, before anyone points it out, I'm aware that after cohabiting for 5 years (no kids) he could technically have a claim over my property. Have given a lot of thought and accept the risk!

    It was never my intention to have him buy with me because from the outset it was my agenda, not his.

    We live together in my place now and previously lived together for over a year in a rented apartment.

    I've taken on all the major expenses such as furnishing and redecorating myself and he pays me a below market rent each month - I wouldn't want to be overly profiting from him being there, so I wanted to keep it low. Its about €150 a month less than his share of the rent in our last apartment.

    He's now talking about maybe buying an investment flat next year at some point (he just started a new job so needs to pass probation etc) but I'm not sure if this is a great idea due to the tax charged on buy to let mortgages.

    Ideally I'd love it if he saved of took a medium term investment so that we could sell my place in a few years and buy a forever home between us.....but obviously not my call, so we'll just have to wait and see on that one!


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