Need mortgage!

thierry14

Oodoov wrote: »

Can't offer much advice OP but my heart goes out to you. Criminal under investment from government over the last 20 years or so in social and affordable housing has left the housing sector a mess. Personally i think it's the way they want it and unfortunately it leaves many falling between the cracks. Best of luck and i hope it works out for you both.

OP has 70k in savings

My heart isn't bleeding just yet

OP stick in there for a year or two until your wife gets back to work

Don't buy a 1 bed just to save on rent

Think long term

With 2 of ye working you will get a mortgage no problem with such big savings

Your in a good position don't wreck it buying a 1 bed

GoneHome

givyjoe wrote: »

I would say there's always one, but sadly there's many posts like yours in boards.

Saved over 10 years by two people, 3.5k a year. Hardly 'suspicious' :rolleyes:

My point was why does the OP have €70,000 in a savings account while, as he admitted himself, he and his family live "hand to mouth". Would it not make more sense to use some of the savings to make life easier for himself and his family rather than struggling on a day to day basis.

srsly78

Also those savings probably disqualifies the OP from various means-tested welfare programs.

_Kaiser_

Deleted User wrote: »

Exactly. If you're prepared to live permanently in somewhere like Portarlington, why wouldn't you move there temporarily and pay half the rent you're paying now??!!

Because as I mentioned above, what he saves in rent, he'll pay in commuting and trips up at the weekend to see friends/relatives etc. Everything else (shopping, utility bills etc doesn't change) and you may miss the convenience of having everything within 10-15 mins as you have in Dublin.

It works for me because I have flexible hours and can work from home, plus the location is halfway between my office and my son, but it's not for everyone.. especially if you don't drive as public transport is generally abysmal or even non-existent.

givyjoe

GoneHome wrote: »

My point was why does the OP have €70,000 in a savings account while, as he admitted himself, he and his family live "hand to mouth". Would it not make more sense to use some of the savings to make life easier for himself and his family rather than struggling on a day to day basis.

If that was your point, nothing that you originally posted even remotely resembled the above. Let's be honest, you just were calling bullsh!t on the 70k saving.

Michael D Not Higgins

givyjoe wrote: »

If that was your point, nothing that you originally posted even remotely resembled the above. Let's be honest, you just were calling bullsh!t on the 70k saving.

That's not how I read it.

givyjoe

Michael D Not Higgins wrote: »

That's not how I read it.

You would wonder about the merits of "saving" €70,000 in these circumstances

What way did you read it? What do you think the inverted commas on saving is referring to?

_Kaiser_

givyjoe wrote: »

You would wonder about the merits of "saving" €70,000 in these circumstances

What way did you read it? What do you think the inverted commas on saving is referring to?

From my perspective I'd read that as saving being not really such good "value" as you're struggling daily as a result.

I have a friend who was/is the same. Constantly complaining about how broke they are and can't do things, but sitting on significant savings.

It's certainly a good idea to have some money aside for emergencies, or for something long term like a mortgage .. but not to the extent that your quality of life (and in the OP's case, that of your family) is significantly worse as a result.. just save less and strike a better balance.

IMO anyway

GoneHome

_Kaiser_ wrote: »

From my perspective I'd read that as saving being not really such good "value" as you're struggling daily as a result.

I have a friend who was/is the same. Constantly complaining about how broke they are and can't do things, but sitting on significant savings.

It's certainly a good idea to have some money aside for emergencies, or for something like long term like a mortgage .. but not to the extent that your quality of life (and in the OP's case, that of your family) is significantly worse as a result.. just save less and strike a better balance.

IMO anyway

Thank you Kaiser, that was exactly the point I was making

Mrs OBumble

GoneHome wrote: »

My point was why does the OP have €70,000 in a savings account while, as he admitted himself, he and his family live "hand to mouth". Would it not make more sense to use some of the savings to make life easier for himself and his family rather than struggling on a day to day basis.

I'm pretty sure the OP has told us thenough saving were brought back from working in Australia.

Not a good idea to rely on them for day to day living now.

_Kaiser_

Mrs OBumble wrote: »

I'm pretty sure the OP has told us thenough saving were brought back from working in Australia.

Not a good idea to rely on them for day to day living now.

Against that though (as I said) you have the scenario where he and his family are living on the relative breadline because his income isn't enough.

Of course I'd question why people rush back to this country to pay exorbitant rents, get poor salaries and a high cost of living, and high (net) taxation for very little return when they've (clearly) built a decent life for themselves abroad.. but there may have been other circumstances involved.

In any case, the OP should focus on increasing his earning power (change jobs, training etc) and forget about the mortgage for a while IMO.

givyjoe

_Kaiser_ wrote: »

Against that though (as I said) you have the scenario where he and his family are living on the relative breadline because his income isn't enough.

Of course I'd question why people rush back to this country to pay exorbitant rents, get poor salaries and a high cost of living, and high (net) taxation for very little return when they've (clearly) built a decent life for themselves abroad.. but there may have been other circumstances involved.

In any case, the OP should focus on increasing his earning power (change jobs, training etc) and forget about the mortgage for a while IMO.

Why would you question it? Most folks dont really want to leave in the first place, at least not permanently. I'm sure they like most, missed their family etc.

_Kaiser_

givyjoe wrote: »

Why would you question it? Most folks dont really want to leave in the first place, at least not permanently. I'm sure they like most, missed their family etc.

"Missed their family" is all well and good, but not if it means sacrificing a good life/security for hand to mouth living.

But then there are many people who never really leave home in the first place and spend a lot of their time running back and forth to their parents a few times a week. (To bring it somewhat back on an A&P footing) it's also partly responsible for the current housing crisis when you have people refusing perfectly good social houses because it's not in the same area they grew up in etc

Bottom line, I'd be of the opinion that when you grow up and start a life/family for yourself that THAT becomes your primary responsibility and concern, and doing what's best for them should always come first - by all means come home as much as you can if you must, but I certainly wouldn't be sacrificing a good life and security (if I had nothing better/equivalent lined up) because I missed Mammy's cooking and my mates (who are probably busy with their own families anyway).

But that's me!

athtrasna

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