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Mortgages for the regular public

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    #32
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    Pheonix10 wrote: »
    Yes that is exactly what I expected. Not unrealistic. I didn't get a regular qualification, I got a first class honours degree and a masters. A house is a pretty fundamental thing that everyone should be able to afford if they work hard. How low are your expectations?

    You might be surprised to know they are pretty high.

    Do you think that just because you got a good qualification that you should be able to buy a house in your twenties?

    Being able to buy a house is dependant on being able to earn the money to prove you can afford the repayments, not on your educational qualifications.


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    #33
    blindside88
    Registered Users Posts: 1,968 ✭✭✭blindside88


    Pheonix10 wrote: »
    Yes that is exactly what I expected. Not unrealistic. I didn't get a regular qualification, I got a first class honours degree and a masters. A house is a pretty fundamental thing that everyone should be able to afford if they work hard. How low are your expectations?

    Really depends on your qualifications (not the class of degree but what it's in) and your technical ability as well where you want to
    Live. For example I paid for a wedding and bought a house within 3 years of finishing college without help from family. But as stated I bought in Carlow and not an expensive area of Dublin City


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    #34
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    Stheno wrote: »
    You might be surprised to know they are pretty high.

    Do you think that just because you got a good qualification that you should be able to buy a house in your twenties?

    Being able to buy a house is dependant on being able to earn the money to prove you can afford the repayments, not on your educational qualifications.

    Pretty sure they are not. Everyone need a home to live in. I am fully aware their is not entitlement but hard work should allow you to buy a home. Our parents did it.


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    #35
    eeguy
    Closed Accounts Posts: 3,478 ✭✭✭eeguy


    newacc2015 wrote: »
    IMO it is insane that a person on €25k should have to pay full market rent. DCC should be building 20-40 storey apartment blocks for working professionals, like NYC did in the past. I seriously doubt people working for the big four are going to have the same social issues as the residents of Ballymun caused. Working professionals can live in high rise building.

    This exactly.

    There's plenty of land even in the city centre to build high rises. It's ridiculous that the city can barely make it past 4 stories.

    High density and proper building management = better and cheaper services for everyone.

    Grand Canal Dock should be seen as a prototype for a much larger expansion of housing across the city centre.


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    #36
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    Pheonix10 wrote: »
    Pretty sure they are not. Everyone need a home to live in. I am fully aware their is not entitlement but hard work should allow you to buy a home. Our parents did it.

    Being approved for a mortgage is dependant on proving ability to afford/repay.
    Plenty of people live in rented accomodation

    Why can't you rent until you can afford to buy?


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    #37
    eeguy
    Closed Accounts Posts: 3,478 ✭✭✭eeguy


    Stheno wrote: »
    Being approved for a mortgage is dependant on proving ability to afford/repay.
    Plenty of people live in rented accomodation

    Why can't you rent until you can afford to buy?
    Because your rent can cost as much as a mortgage.


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    #38
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    eeguy wrote: »
    Because your rent can cost as much as a mortgage.

    Jaysis, it's 2004 again.


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    #39
    KERSPLAT!
    Closed Accounts Posts: 31,152 ✭✭✭✭KERSPLAT!


    Pheonix10 wrote: »
    Yes but how many couples would both people be on 50k. I'm talking about the majority of the public, bar staff, receptionists, hairdressers, cashiers etc. Also you are not "entilted" to it for free. But you should be able to get one with ease if you work regular hours. Working your ass off should get you a very nice house.

    Edit: also two people "should" "potentially" be in a position on those salaries. First of all you should be able to buy your own house and second if you are looking enough to have a partner earning 50k also then you be able to get a home no problem!

    Hold on a second. Did you miss out on the huge crash a few years ago. People taking out huge mortgages, second mortgages, mortgages for holiday homes, etc and ultimately ending up in a position where by they are unable to pay for them.

    I work regular hours but there's no way, in my financial situation, should I be given a mortgage. It would be madness for a bank to even consider it.

    There are rules in place, there are reasons for these rules. You don't have go look too far back to see why.


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    #40
    eeguy
    Closed Accounts Posts: 3,478 ✭✭✭eeguy


    Stheno wrote: »
    Jaysis, it's 2004 again.

    At least I could get a mortgage in 2004.


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    #41
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    Pheonix10 wrote: »
    Pretty sure they are not..

    Pretty sure my expectations are not particularly high based on what?


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    #42
    relax carry on
    Registered Users Posts: 4,081 ✭✭✭relax carry on


    Pheonix10 wrote: »
    Pretty sure they are not. Everyone need a home to live in. I am fully aware their is not entitlement but hard work should allow you to buy a home. Our parents did it.

    Nothing ever stays the same. Just because our parents generation was able to purchase their own home doesn't necessarily mean that we will as well. Ireland is different place to what it was 30 or 40 years ago.
    My wife and I have been looking to buy for over 3 years now but still no luck. But we are not prepared to buy at any price just for the sake of owning a property. Renting does have its own advantages too.


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    #43
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    Stheno wrote: »
    Pretty sure my expectations are not particularly high based on what?

    Talking about my expectations.


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    #44
    mansize
    Closed Accounts Posts: 14,521 ✭✭✭✭mansize


    Where are these affordable homes going to be?

    What will the criteria to purchase them be?

    Will those living in the area object to affordable homes being built, putting downward pressure on their house values?

    Where's the incentive for the developers to build these affordable houses?


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    #45
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    eeguy wrote: »
    Because this issue doesn't affect him.

    He owns a house. It's in his best interest that demand is high, so his property increases in value should be need to sell it or leverage it against something.

    She, not he.

    Try and get your facts straight.

    And I do not own a house in Dublin.


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    #46
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    mansize wrote: »
    Where are these affordable homes going to be?

    What will the criteria to purchase them be?

    Will those living in the area object to affordable homes being built, putting downward pressure on their house values?

    Where's the incentive for the developers to build these affordable houses?

    I don't have all these answers and neither do you. There are people much more educated in this topic that could be paid to develop a long term housing strategy.


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    #47
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    Pheonix10 wrote: »
    Talking about my expectations.

    I think you need to rethink your expectations.
    If you cannot afford to buy the house you want, in the area you want, then you need to lower your expectations.
    Buy where you can afford or rent where you want to live.

    Just because you went to college does not entitle you to buy the house where you want.


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    #48
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    eeguy wrote: »
    Apologies. Your gender wasn't clear from your posts.


    But my point still stands.

    How would my not owning a house in Dublin mean that I want to see prices kept artificially high? I want to buy a house in Dublin?


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    #49
    mansize
    Closed Accounts Posts: 14,521 ✭✭✭✭mansize


    Pheonix10 wrote: »
    I don't have all these answers and neither do you. There are people much more educated in this topic that could be paid to develop a long term housing strategy.

    You asked why people may be against affordable homes... I presented a number of issues surrounding them, and you seem to ignore them.

    Its not easy to develop a housing strategy that pleases everyone.


    Would you consider a two bed flat to get on the property ladder?


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    #50
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    Pheonix10 wrote: »
    I don't have all these answers and neither do you. There are people much more educated in this topic that could be paid to develop a long term housing strategy.

    The government should be providing social housing for less well off people, it's not their job to give you a fancy house in as nice area that you want to live in.


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    #51
    kona
    Registered Users Posts: 7,525 ✭✭✭kona


    To be fair even if you save and get a deposit , approval and all that. It's still a ****ing disgrace that there are people getting housed at lower subsidised rents and subsidised mortgages, when the very people getting it up the gicker every payday paying the taxes to fund these subsidies and social housing are the ones who can't afford to live in their own house.

    Would be nice to get ftb a scheme where their tax is used to buy their house 60/40. maybe then when they pay off their 60% they have the option to pay off the outstanding to the exchequer and own the house outright.

    It's a bizarre situation that maybe 6 years ago you couldn't give some houses away in Dublin, now it's a shortage. Somebody is making a killing from it all.


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    #52
    mansize
    Closed Accounts Posts: 14,521 ✭✭✭✭mansize


    The cost of buying a house is lower than building one in a lot of areas at the moment, thats why there is no incentive for developers to build.


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    #53
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    bubblypop wrote: »
    The government should be providing social housing for less well off people, it's not their job to give you a fancy house in as nice area that you want to live in.

    All of the county councils in this country are part of a scheme to provide those who cannot otherwise get a mortgage and who qualify with one.

    http://www.citizensinformation.ie/en/housing/owning_a_home/help_with_buying_a_home/home_choice_loan.html


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    #54
    eeguy
    Closed Accounts Posts: 3,478 ✭✭✭eeguy


    bubblypop wrote: »
    I think you need to rethink your expectations.
    If you cannot afford to buy the house you want, in the area you want, then you need to lower your expectations.
    Buy where you can afford or rent where you want to live.

    Just because you went to college does not entitle you to buy the house where you want.

    Is it not reasonable to want to live near to where you work and not have a 2 or 3 hour daily commute?
    Why must we consign ourselves to a commute when high density housing could be built on available land near to great transport links and near to where most people work?

    Why is there no political will to build high density apartments in Dublin?
    Why is Dublin sprawling further and further out and not up?
    mansize wrote: »
    The cost of buying a house is lower than building one in a lot of areas at the moment, thats why there is no incentive for developers to build.

    The cost of building hasn't changed. There's plenty of profit to be made building houses where people want to live. Just the land is owned by those who see it as an investment opportunity.
    The government should step in and compulsory purchase land for the benefit of the public.


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    #55
    mansize
    Closed Accounts Posts: 14,521 ✭✭✭✭mansize


    kona wrote: »
    To be fair even if you save and get a deposit , approval and all that. It's still a ****ing disgrace that there are people getting housed at lower subsidised rents and subsidised mortgages, when the very people getting it up the gicker every payday paying the taxes to fund these subsidies and social housing are the ones who can't afford to live in their own house.

    Would be nice to get ftb a scheme where their tax is used to buy their house 60/40. maybe then when they pay off their 60% they have the option to pay off the outstanding to the exchequer and own the house outright.

    It's a bizarre situation that maybe 6 years ago you couldn't give some houses away in Dublin, now it's a shortage. Somebody is making a killing from it all.

    There were Rent to Buy schemes, they didn't prove that popular.


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    #56
    syklops
    Closed Accounts Posts: 18,966 ✭✭✭✭syklops


    Stheno wrote: »
    Why can't you rent until you can afford to buy?

    Because with rents the way they there are large swathes of people, myself included who are a long way from saving up the deposit. If you are paying 1300 a month in rent with a net income of 2200 the amount you can save is limited.


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    #57
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    eeguy wrote: »
    Is it not reasonable to want to live near to where you work and not have a 2 or 3 hour daily commute?
    Why must we consign ourselves to a commute when high density housing could be built on available land near to great transport links and near to where most people work?

    Why is there no political will to build high density apartments in Dublin?
    Why is Dublin sprawling further and further out and not up?

    Yep, it's called renting.
    Rent where you want to live.


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    #58
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    eeguy wrote: »
    Is it not reasonable to want to live near to where you work and not have a 2 or 3 hour daily commute?
    Why must we consign ourselves to a commute when high density housing could be built on available land near to great transport links and near to where most people work?

    Why is there no political will to build high density apartments in Dublin?
    Why is Dublin sprawling further and further out and not up?

    I live in Dublin and my regular commute to the city centre is 2.5 hours roundtrip on public transport? Don't think Dublin boundaries have been redefined for a long time?
    syklops wrote: »
    Because with rents the way they there are large swathes of people, myself included who are a long way from saving up the deposit. If you are paying 1300 a month in rent with a net income of 2200 the amount you can save is limited.

    For sure, so maybe look at a house share for 5/600 per month and save the saving of another 5-700?

    In five years that would mean you'd end up with 30k towards a deposit?


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    #59
    mansize
    Closed Accounts Posts: 14,521 ✭✭✭✭mansize


    http://www.irishtimes.com/opinion/paul-sweeney-where-to-find-money-to-solve-the-housing-crisis-1.2599331?utm_source=dlvr.it&utm_medium=twitter


    There's a suggestion from today's Times


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    #60
    eeguy
    Closed Accounts Posts: 3,478 ✭✭✭eeguy


    bubblypop wrote: »
    Yep, it's called renting.
    Rent where you want to live.

    Renting is not a secure option, as any glance at the accommodation and property forum will show you, especially those looking to start a family.

    There is no culture of long term renting in this country and one shouldn't be forced onto people.


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    #61
    kona
    Registered Users Posts: 7,525 ✭✭✭kona


    mansize wrote: »
    There were Rent to Buy schemes, they didn't prove that popular.

    If it allows young professionals on permanent contracts earning the average wage to buy a house of say they would be very popular.

    Somebody needs to take the finger out in government and sort out the mess before more people leave the country.


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