Thinking of buying an apartment - FTB

draiochtanois

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draiochtanois

draiochtanois wrote: »

This post has been deleted.

It is actually happening in my opinion, you are throwing money down the drain. I'm sure you have something better for doing than writing pedantic posts dragging this thread off topic.

Benny122

Patricia Ripe Squad wrote: »

To me paying 600 euro a month to rent when you could be paying less than half for a mortgage on an equivalent place makes buying an absolute no brainer. It's literally throwing money down the drain for nothing "renting for a while". If her partner is officially living with her he may lose his job seekers allowance but that's a bigger deal if renting than having a mortgage if you look at the figures. Paying 600 rent from a single income will stretch things a lot more than 300 in a mortgage.

My first time living with my gf wiil be in a place I or we buy, don't see any issue with that aspect of the op's plan at all.

Yes thank you so much for the advice I am glad you can see where I am coming from. Why should pay €600 dead money on renting which is €300 each plus if my partner is renting with me any way his JSA will be cut, when I can buy a place for only €250 a month with help from him!

athtrasna

Mod note

Folks, let the modding to the mods please. Correction of other posters' choice of words is not in the spirit of this forum.

irish_dave_83

Benny122 wrote: »

Yes thank you so much for the advice I am glad you can see where I am coming from. Why should pay €600 dead money on renting which is €300 each plus if my partner is renting with me any way his JSA will be cut, when I can buy a place for only €250 a month with help from him!

I dont see anything wrong with the Op's plan. Money may be a bit tight, and the lifestyle will change, but that happens to us all when we buy our first house.

I would say this though, just be sure you actually want that property by that I mean that you really like it, don't buy it for the sake of moving out of you family home. I know you are probably getting itchy feet at home, but sometimes it may be better to wait until you can afford the property that you will be spending the next 5-10 years (at least).

Anyway best of luck OP, I hope it works out for you.

Ursus Horribilis

OP why is your partner not working?

johnnyskeleton

Benny122 wrote: »

Sur if we rented we would be paying €600 per month between us - and thats rent only!! If we bought this property all we pay each is €165 per month (240mortgage plus 90 maintanence divided by 2).

So I've worker out all our outgoings as much as I can for definite:
1750 my income + 900his= €2650pm
Motor tax €95 (for two of us)
Motor insurance  €67 (for two of us)
+Petrol, car maintenance etc
Health cover €75
Mom €150 (still factoring in paying my mom)
Mortgage €240
Maintenance €90
+local property tax, water charges, repairs to the property
Tv €9 (Netflix)
+Broadband, tv licence, phone
Saving €500
Mortgage protection €10
Life cover €60 (for the two of us)
+electricity/gas,
TOTAL Costings = €1296pm
€2650-€1296 = €1384pm (left over between us)

I know I know I know ye say there's no light water included above

Well there's a lot that's not included and as stated his welfare will be reduced. However, if you're happy with the calculations then go for it.

Benny122

irish_dave_83 wrote: »

I dont see anything wrong with the Op's plan. Money may be a bit tight, and the lifestyle will change, but that happens to us all when we buy our first house.

I would say this though, just be sure you actually want that property by that I mean that you really like it, don't buy it for the sake of moving out of you family home. I know you are probably getting itchy feet at home, but sometimes it may be better to wait until you can afford the property that you will be spending the next 5-10 years (at least).

Anyway best of luck OP, I hope it works out for you.

Thanks for the advice - I will fall into my family home in the coming years also which is a 3 bed house so why would I want to be spending massive money on a big mortgage - I would get anymore money from bank anyway based on my salary. I'm just around the corner from home too so I can still call there and there at weekend or a night during the week

Ursus Horribilis

I don't think anyone should be depending on their family home as a windfall. Who knows what the future holds for your parents. You can't just assume that they'll be in rude good health right up to the day they pop their clogs. Should one or both of them fall ill and need prolonged care, are there funds to pay for that? Nursing home bills/fair deal aren't to be sniffed at.

Also OP I've asked twice about your partner's unemployment. You're working on the basis of the JSA being an income which implies your partner won't be finding a job. So my taxes will be paying your mortgage.

Squall Leonhart

Odus fell down wrote: »

You're working on the basis of the JSA being an income which implies your partner won't be finding a job. So my taxes will be paying your mortgage.

This, exactly this!