What kind of deposit amount do people have?

Zascar

Lu Tze wrote: »

I went to work abroad for a year, saved approximately 25K in that year alone as the pay rates were more than double what I was on at home (and income tax was less). I would imagine a lot of people have come back after several years abroad with deposits ready to go.

Where did you go out of interest and what sort of job if you dont mind me asking?

Mink

We bought way outside Dublin in a cheap area (but actually wanted to live there ) and in a year we scrambled 8k together. A relative who had just sold their house gifted us 15k.

That's with me part-time, child care, 2 cars. Luckily we were paying low-ish rent as it was right before the government interfered and our rent hadn't been hiked yet.

It is hard, you have to think twice about every little financial decision - "do I really need this?". But it's great watching the savings build up bit by bit.

Absolutely no way would we ever in a million years afford anything in Dublin or commuter towns, we simply don't earn enough - but we enjoy what we do so there's the balance I guess.

MrMorooka

I have €42k saved. Am 27 and have always been working, currently make just under €50k. It's not specifically for a deposit, I just enjoy saving and seeing the number go up. If I was going to buy, probably a decent new-build 2/3 bed apartment would be what I'm after.

I may or may not use it as a deposit, will have to see how life goes. It's impossible to buy a place I would want without finding a partner for a joint application anyway(the LTI rules means it wouldn't work for me as a single applicant), so until a relationship happens no point thinking about it.
Also not convinced that I want to buy in Ireland/Dublin, or maybe I will even emigrate, who knows? Things are are all just a bit too fluid right now. I'm quite happy to work away, rent, and add to savings for the next while until some life circumstances change.

bigronnie9

Have around 40k saved. Saved 1200 a month while renting and 2000 a month since moving back home in march. Thats without being completely broke.

Our rent was pretty cheap thankfully, No idea how people paying higher rent or with kids can manage to save.

Also saving for a wedding at the moment, which is a right pain in the arse as in the greater scheme of things since starting house hunting that money would be much better spent going into the deposit fund, ah well!

eviltwin

We bought in 2002 with a deposit of 15k. We saved that ourselves, two years of living on rations and only paying for necessities. Not easy as we had a small child at the time. It was hard work and really soul destroying at times when our friends were going to the pub and on holidays and basically enjoying life but worth it in the end. We got in before things went nuts in Dublin and have a small mortgage now for our trouble.

philderbeast

Have about 50K. Between me and the OH we have been saving about 1500 a month while renting without having to live like paupers for about 18 months now. The rest was gifted from both our parents. In fairness we had pretty cheap rent by Dublin standards for the past 2 years.

jester77

Had over 100k but ended up using less than 80k as the remainder would not have brought down the interest rate any further.

Lia_lia

We are not actively saving for a deposit, just saving in general. For the past couple of years. We still go on holiday, go out a lot etc... Not really properly saving at all. We both work full time and have no kids. We have around 20k saved between us now I'd say. So still need to save a lot more!

We plan to move into one of our family homes in a few months so we can properly save a lot more and buy a house in a couple of years. We will still pay "rent" to contribute towards the household, just a lot less. Neither of our families have the money to contribute towards a deposit.

MissElle

We moved back home with our parents (it'll be two years in July) and have saved just over 50K. We put our deposit on a new build in September but definitely wouldn't have been able to do this if we were renting, fair play to those doing both! We had a fairly strict budget/savings plan, its definitely made me better with money as I wouldn't have been great before!

fg1406

We've almost €30k saved since January of last year. That was by living off the bare minimum while paying rent. We have 2 cars and both earn the average industrial wage. Actively looking for a house but there is sweet feck all out there. As soon as we see something we like, it's snatched from under us in bidding.