How to get on the property ladder.

trixychic

Hi guys

Well myself and hubby have been scrimping and scraping every little bit we have to try and get on the property ladder but it just doesn't look like it will ever be a possibility!!!

Seriously how do people do it. We have 2 kids. One has Autism so I am home to care for him. Hubby is working 60-70hours a wk. We are paying rent of €800 a month along with bills etc. The most we can afford to save is a measly €150/month and I just feel like we will never get our own place.... or we'll have to settle for a house in the middle of drugs Ville keeping the Windows and doors boarded up.

I even considered trying to buy a plot of land, put a mobile home on it it and slowly do a self build. But that seems pricey too.

Our eldest is 8yrs and I would love to be in our own house sooner rather than later. But it seems way too far off at this stage.

How are others doing it??

the_syco

Apply for a council house?

LirW

The chance that they'll get a council house in the next 10 years is basically non-existent if they're in Dublin. They are not homeless, the father works, there are plenty of people that would jump before them, it's a struggle.

OP, do you have any money saved? Where are you living?
Would moving out of the urban area work for you?
We have 2 children and lived with my In-Laws for over a year since we moved back to Ireland, we didn't find anything to rent and bought a modest house a bit away from Dublin. It improved our quality of life so much.

In your situation I'd think about relocating to a cheaper part of the country where your husband still could secure work.
With 2 kids, one income and the amount you can save no bank would consider you for a mortgage.
Living is cheaper outside of the cities and could take a burden off your shoulders. I'd at least look into it in your situation.

Good luck.

LuckyLloyd

In the absence of access to a lump sum / help from your parents allied to two decent salaries it's very difficult to buy in Dublin for most people.

Ask yourself this: what is owning a home or getting on the property ladder going to change about your happiness? You're saving the little you can and fair play to you. Enjoy your life, the little things you have and keep going. The property market picture may look very different in five year's time and you'll be ready to take advantage then if you keep doing what you're doing now.

Now is the wrong time to buy a house.

super_sweeney

I am going to assume based on 800 rent that your outside dublin or a catchment area of dublin as any of my friends living in dublin are paying 1400 plus for a small 2 bed apartment.Not knowing personal circumstances at all. It sounds like you guys are doing amazing to what you do. Have you spoken with the tax office to see if there is more financial support you can get? 

I know for myself and friends we moved home for a period or rented out rooms in houses but these are people that are single or have no kids so thats not really an option.
Building yourself might not be the worst idea in the world. You could do a very small generic build that is designed in the future that you can build onto to expand. Also if you build yourself there is a lot of work you can do yourself. 
Lastly when i was looking to buy there was a lot of very small places that needed a lot of work for cheap.. i saw a few at around 40-50k they were very remote and needed work but this could be a solution for your family. As you could pay it off pretty quick if you continued to pay off 800 a month on it and it would allow you to do work yourself to increase its value.

Lumen

trixychic wrote: »

I even considered trying to buy a plot of land, put a mobile home on it it and slowly do a self build. But that seems pricey too.

That seems unrealistic given that your partner has zero free time. Building houses is also expensive and you'll struggle to finance it in the same way as you would struggle to finance a purchase, even more so since there's a risk that the build may not complete. And planners don't like people living in mobile homes for years.

You are in a rental trap, but TBH with 800/mo to spend on housing it's always going to be a struggle. My boom-time semi-d purchase of 330k ish in a fairly cheap area cost about 1200/mo on a tracker, but those rates aren't coming back any time soon.

I think you might be being unnecessarily negative about "we'll have to settle for a house in the middle of drugs Ville keeping the Windows and doors boarded up."

There are lots of places which are relatively affordable but aren't bad to live in if you're willing to put up with poor transport connectivity.

Recent price rises have been heavily focused on new builds and property close to Dublin city centre. Used stock further out is still 30% below peak madness.

Your biggest problem is going to be lack of deposit.

Topgear on Dave

I wish people wouldn't call it a ladder. I thought we had all learned that it can be a highly risky investment in this country.

PhoenixParker

Your best bet is to look at ways of increasing your income. Can your husband get a better paying job or can you find a way to earn some money on the side?

GoneHome

OP in what area of the country are you? As already pointed out there are still bargains to be had the further you move away from urban areas.

trixychic

We are in county carlow. I'm afraid to move too far as my son is settled in the school and he can't handle changes. Even moving from this house will be a nightmare.

Hubby is trying to look for a better paying job but it's just such a slow process. I wouldn't mind moving somewhere into the countryor city once we stay near the school for my son.

I was planning on going back to work in September but unfortunately my depression is back with a bang and I am trying to work through that before I can even think of anything else for myself. Right now I'm trying to just get through the days and stay on top of things for the kids. Its a pain. This bloody rent bubble trap is horrible!!!

trixychic

LirW wrote: »

Would moving out of the urban area work for you?

Looking at renting prices I feel id have to move a far bit away to compensate for anything.

Because our son has Autism we all find change very daunting. He can't handle it. Even moving from this house will be horrible but i can't even begin to think what moving schools could mean. I'm all for moving anywhere... once it's in range of the school. Even half hour drive would be fine.

GoneHome

trixychic wrote: »

We are in county carlow

Lots of value to be had in County Carlow. A quick search of Daft brings up the likes of http://www.daft.ie/carlow/houses-for-auction/carlow-town/159-the-laurels-carlow-town-carlow-1578851/ for €55,000.

tommythecat

Yes there seems to be plenty that could be in your reach with only a small deposit.

https://www.daft.ie/carlow/houses-for-sale/carlow-town/143-the-laurels-carlow-town-carlow-1582973/

95k for walk in condition in the town

trixychic

The laurels and Burrin Manor are the 2 estates we are trying to avoid. We went looking to rent there not long ago and when the estate agent saw we had kids she said not to go near the place. Every other house is burnt out or boarded up. They are scary places to live. I don't think the house value would ever go up and I'm afraid to br stuck there long term.

trixychic

I do see a couple of places that could be options but the question is still how do we get there. Like its been said. No bank will look at us.

We have been renting for 10yrs with no debts. We never go out. We don't drink or smoke. The most we splurge on is a takeaway and DVD some weekends. It's infuriating. We just seem to be stuck.

tommythecat

No worries. I don't know Carlow town so wasn't aware they were bad areas.
Do you mind me asking how much of a deposit have you guys saved to date?

Idbatterim

You getting back into emoynent if possible and if you don't have to land out for child care would be best bet I think...

purpleisafruit

Make sure that you're claiming incapacitated child tax credit for Autism. It's an extra 3300 a year, not much but better than nothing.

GoneHome

trixychic wrote: »

I do see a couple of places that could be options but the question is still how do we get there. Like its been said. No bank will look at us.

With prices quite reasonable in the area, if you had a good savings record with the Credit Union they might possibly lend to you if you are only looking to borrow maybe €50,000 or €60,000.

trixychic

purpleisafruit wrote: »

Make sure that you're claiming incapacitated child tax credit for Autism. It's an extra 3300 a year, not much but better than nothing.

We are and have applied for DCA. Hopefully it will help.

trixychic

tommythecat wrote: »

No worries. I don't know Carlow town so wasn't aware they were bad areas.
Do you mind me asking how much of a deposit have you guys saved to date?

Almost €6000. But I have €2000 inheritance coming to me soon. It's not fantastic but it's all we've got so far.

trixychic

GoneHome wrote: »

With prices quite reasonable in the area, if you had a good savings record with the Credit Union they might possibly lend to you if you are only looking to borrow maybe €50,000 or €60,000.

Oh I might look into that. Thank you.

purpleisafruit

trixychic wrote: »

We are and have applied for DCA. Hopefully it will help.

Have you applied for Carer's Allowance too? I've an autistic son too

trixychic

purpleisafruit wrote: »

Have you applied for Carer's Allowance too? I've an autistic son too

I was told I have to be in receipt of DCA to be able to apply for that?? I've started mentioning we may have to move to help him get used to the idea. Making it sound like a great adventure but I'm dreading how he is gonna take it.

purpleisafruit

trixychic wrote: »

I was told I have to be in receipt of DCA to be able to apply for that?? I've started mentioning we may have to move to help him get used to the idea. Making it sound like a great adventure but I'm dreading how he is gonna take it.

The transitions are difficult but def manageable. Yeah, DCA is needed to apply for carer's. Best of luck!

DubCount

trixychic wrote: »

I was told I have to be in receipt of DCA to be able to apply for that?? I've started mentioning we may have to move to help him get used to the idea. Making it sound like a great adventure but I'm dreading how he is gonna take it.

I dont think its essential, but having DCA would certainly make it easier. Chase up local TDs if Social Welfare are dragging their heals on processing your application (they tend to do so). Dont be afraid to appeal if they turn you down - this is a pretty common delaying tactic. Also, check out some of the Special Needs boards.

If you get DCA or carers, you will also get the Carers Support Grant (formerly the Respite Care Grant). I think DCA can be back dated, so its worth asking about that when you receive it.

Finally, the Incapacitated Child Tax Credit was mentioned earlier. You apply to Revenue for that. Just watch that the requirements for that is for "Acute Autism". I've never come across anyone with that diagnosis, but it is a useful expression to have if a kind doctor is prepared to use it in the forms for Revenue, it makes life easier. If you get that, there is no reason you cant ask Revenue to back date that to the last few years. If you call them up they are always helpful and knowledgeable (pity you cant say the same for all other areas of government).

Good luck with the house search and with coping with autism in the family.

LirW

I'm actually around in the eastern corner of Carlow county a bit and there is some value to have, even in the very last part of Wicklow and Wexford. Do you drive? I think if you really want to get yourself a home you need to compromise or stay renting unfortunately. I know it's not easy with an autistic child and wish you all the best.
But there's some really good advice here on the thread!

trixychic

LirW wrote: »

I'm actually around in the eastern corner of Carlow county a bit and there is some value to have, even in the very last part of Wicklow and Wexford. Do you drive? I think if you really want to get yourself a home you need to compromise or stay renting unfortunately. I know it's not easy with an autistic child and wish you all the best.
But there's some really good advice here on the thread!

I know everyone is fantastic. I love the advice. I will be looking into every possibility. We do drive (thank god) so it'll help. Thanks.

trixychic

Guys I've just had another idea and looking to see if it's at all feasible. What if we were to buy a mobile and rent some land for 12-24months while we save for the house.

I know my dad had a mobile he put in his field and hr didn't need planning for it. Even if it was in family grounds or something. We could save alot more alot quicker?

Anyone have any idea if this would work??

myshirt

trixychic wrote: »

Guys I've just had another idea and looking to see if it's at all feasible. What if we were to buy a mobile and rent some land for 12-24months while we save for the house.

I know my dad had a mobile he put in his field and hr didn't need planning for it. Even if it was in family grounds or something. We could save alot more alot quicker?

Anyone have any idea if this would work??

I wouldn't repeat that story about your father in earshot of anyone familiar with planning.

PhoenixParker

trixychic wrote: »

Guys I've just had another idea and looking to see if it's at all feasible. What if we were to buy a mobile and rent some land for 12-24months while we save for the house.

I know my dad had a mobile he put in his field and hr didn't need planning for it. Even if it was in family grounds or something. We could save alot more alot quicker?

Anyone have any idea if this would work??

Don't.
It will delay you getting a house and you'll be miserable in the meantime. Youveal ready said you struggle with mental health. Living in a budget mobile that's cramped damp and cold will not help.

You're about 10k away from a house right now. Focus on getting well enough for a part time job and you'll have that in a year. Focus on the tax breaks and allowances that have been discussed and you could well be moving in for Christmas 2018.