Alternatives to buying a house?

The One Doctor

Yes, I know, it sounds like a silly question and maybe it is.

Let me explain. Me and my girfriend are in our mid 30s and make about 25k per year each. We have one child. Both of us have to look for new jobs very soon so we'll have to wait a year before applying for a mortgage with a max of around €175k. The inlaws will be paying our deposit. Great so far.

But €175k seems like a huge amount of money. My ideal would be to plop a modular home (2 bed wood cabin really, my research shows that many of them are quite spacious and very livable) on a small site in north Co. Dublin and go from there. We could do that on maybe €80k. That's a very small mortgage.

Am I a fantasist to even consider such a scheme? Are there any other alternatives? I'm willing to at least consider other ideas. Other than renting, of course, we've done that for years now.

Neptune1

If there were other likeminded people perhaps there could be a coop or group scheme?? Split the site costs, possibly get a discount on the homes for buying a few. There would also be a small community as opposed to isolated units. Maybe too simplistic but you're right there should be more options available!!!

The One Doctor

Neptune1 wrote: »

If there were other likeminded people perhaps there could be a coop or group scheme?? Split the site costs, possibly get a discount on the homes for buying a few. There would also be a small community as opposed to isolated units. Maybe too simplistic but you're right there should be more options available!!!

Yup, something like this would even come in under the 25sqM restriction. We don't need big, just comfortable.

Mrs OBumble

Halting site. (No, I'm not being funny or racist: it is one of the OPs options).

OP, seriously there's a 25sqM exemption for extensions and sheds that aren't used to live in. But I don't believe it applies to permanent dwellings.