Dublin is insanity- why did I come back?

Tigerandahalf

Cyrus wrote: »

to be fair i think they will always comply with the minimum requirements as per whatever act is in force at the time

No I meant developments with those features (and thus less mgt company maintenance fees) will be more popular to buy.

At a time when they are trying to discourage one off rural planning this type of council policy makes no sense.

If an estate is far away from green spaces/recreational area provided by councils young children will have no where to play or kick a ball about. In the times we are in that makes no sense.

It is bound to become an election issue on the door steps.

Cyrus

Tigerandahalf wrote: »

No I meant developments with those features (and thus less mgt company maintenance fees) will be more popular to buy.

At a time when they are trying to discourage one off rural planning this type of council policy makes no sense.

If an estate is far away from green spaces/recreational area provided by councils young children will have no where to play or kick a ball about. In the times we are in that makes no sense.

It is bound to become an election issue on the door steps.

no i understand, but in dublin at least the most green space any of them will put in one way or the other, is the least they can get away with

johnnyskeleton

Tigerandahalf wrote: »

True but I'd imagine a single person would want maybe an extra room so 2 beds are probably more desirable for a lot of people with friends staying over, storage or maybe renting out a room

myshirt wrote: »

I certainly do think that those wishing to buy a 3 bed semi by themselves or a 2 bed apartment by themselves are having a laugh. That is too much property for one person, and we don't want the market functioning in a way that property goes to waste like this. I suppose that is one good thing about this rental market, it has forced us all to make better use of property.

LirW wrote: »

I also don't think 2 bedrooms is unreasonable for one person when they intend to live in it for the duration of the mortgage. People still socialise, have hobbies, need extra space for a home office, want to have the option to live together with a future partner without having to sell up.

On the one bed thing, there's a strange dynamic at play. I don't think it is unreasonable to want to have a spare bedroom/home office etc and this in turn affects the resale value of a 2 bed vs a 1 bed. However, this fact alone means that many people insist on getting a 2 bed, even if it is way beyond what they can comfortably afford. This drives the prices up for 2 bed, and so on.

Should people settle for 1 beds? Probably not. But its demonstrative of the strange market in Dublin that for a type of property in such ostensible low demand, people are still paying high prices for 1 beds.

TallGlass wrote: »

You've to pay them fees, which they don't seem to do much with. Some of the blocks around me need a good paint and a slap of varnish on the wood.

Some do some don't. Most management fees will cover costs like bins and insurance, which people who own houses will spend a few hundred on each year. Then there are other things like security/cctv/concierge in some places, which is better than an alarm, external mantenance which, as you say sometimes is neglected, but in functioning apartment blocks it saves you the hassle of having to paint every few years, replace some windows etc, fix drainpipes etc.

Not saying that its all rosy, and its probably still cheaper to pay for these things individually in a house than through managment fees. But to suggest that they do nothing for this money is not accurate either.

Cuddlesworth

utmbuilder wrote: »

It's called the "property ladder" for a reason.

I want to trade up a few times like generations before me.

We don't have a ladder, we have a property rollercoaster. When its going up, you can move a little bit but everybody is calm and happy. As its hitting the top, everybody is pretending everything is ok but is scared ****less. And as its plummeting down, everybody is trapped and screaming.

server down

myshirt wrote: »

I'd like to see us get to a point where 1 X average industrial income plus 0.5 average income per extra room can afford a home, eg 3 bed terraced for 280, or 220 for a 2 bed, and 150-160 for a 1 bed.

I certainly do think that those wishing to buy a 3 bed semi by themselves or a 2 bed apartment by themselves are having a laugh. That is too much property for one person, and we don't want the market functioning in a way that property goes to waste like this. I suppose that is one good thing about this rental market, it has forced us all to make better use of property.

What you are saying though is that there’s no housing ladder. People have to couple up before they get a house and then it might as well be a big one.

server down

Personally I think property and management charges should be tax deductible for normal PAYE workers who pay it.

Graham

server down wrote: »

Personally I think property and management charges should be tax deductible for normal PAYE workers who pay it.

That'll happen around the same time homeowners can offset their Woodies receipts against PAYE.

server down

Graham wrote: »

That'll happen around the same time homeowners can offset their Woodies receipts against PAYE.

Not the same thing (although some countries alllow it). A householder who pays management fees and lpt is paying to service his own development and his neighbours. He is also saving the councils money on the managed estate.

MysticMonk

Thats why new builds are such a rip-off..it's not enough to gouge the money for a shoddily built deathtrap with thin walls you also have to pay a "management" fee every year which a lot of people don't pay and is added onto those who do.

mkdon

When will that happen though? They are predicting prices to increase for at least another 5 years

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Cuddlesworth

....... wrote: »

The real problem is that there is no punishment for non payers. In other countries you would be forced to sell the property to pay outstanding fees if you went years without paying and you would have signed a contract agreeing with this when you bought the apartment. Im not sure how this would work with negative equity though, when the bank would refuse to allow you to sell.

Management companies can take up court cases against those who don't pay and have the sheriff seize property for those who don't make any effort to engage or place liens with interest on the properties. There is a poster on this forum who went into detail about how their company started this when non-payment became a serious issue, published the upcoming court cases to all the residents and landlords via newsletters and had a massive uptick again in payments. The lack of risk or consequence is due to the management company's not being willing to put the money down to follow up on their threats.

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sbsquarepants

jimmycrackcorm wrote: »

I'm older so I understand the reason as was for me that as women became more active in the workforce, people bought properties based on two incomes.

In my parents generation, there were generally only single income families competing to buy.

Now you are competing with dual income buyers which is why it is so difficult.

The median wage in Ireland for a full time employee is roughly 36k (x2 for a couple) x 3.5 times mortgage = 252 + 10% deposit = 277k.

By definition 50% of the working couples in Ireland can not hope to raise this amount of money without outside help, or at the very least a serious amount of saving over many years.

The average couple in Ireland can not afford to buy the average house pretty much anywhere around Dublin. Factor in kids and houses are just getting less and less attainable except for those lucky enough to be on the right side of that 50 / 50 split!

We need a massive building surge to correct it, I don't see it happening any time soon. Things are only going to get worse.
If you can buy now, I think you should buy now!

Idbatterim

sbsquarepants wrote: »

The median wage in Ireland for a full time employee is roughly 36k (x2 for a couple) x 3.5 times mortgage = 252 + 10% deposit = 277k.

By definition 50% of the working couples in Ireland can not hope to raise this amount of money without outside help, or at the very least a serious amount of saving over many years.

The average couple in Ireland can not afford to buy the average house pretty much anywhere around Dublin. Factor in kids and houses are just getting less and less attainable except for those lucky enough to be on the right side of that 50 / 50 split!

We need a massive building surge to correct it, I don't see it happening any time soon. Things are only going to get worse.
If you can buy now, I think you should buy now!

Id tend to agree as the snakes here in power for many reasons, actually don't want to fix the issue, they simply cant be seen to not at least talk about it and pretend like they want to fix it...

Mooooo

sbsquarepants wrote: »

The median wage in Ireland for a full time employee is roughly 36k (x2 for a couple) x 3.5 times mortgage = 252 + 10% deposit = 277k.

By definition 50% of the working couples in Ireland can not hope to raise this amount of money without outside help, or at the very least a serious amount of saving over many years.

The average couple in Ireland can not afford to buy the average house pretty much anywhere around Dublin. Factor in kids and houses are just getting less and less attainable except for those lucky enough to be on the right side of that 50 / 50 split!

We need a massive building surge to correct it, I don't see it happening any time soon. Things are only going to get worse.
If you can buy now, I think you should buy now!

Dunno if there is a figure there but if talking of purchasing in Dublin wages in Dublin not the entire country would be better to use.

riclad

your income is x ,say for example 35 x 3.5= you can borrow 125 approx max and you need
10 per cent deposit .
go to daft.ie and see what is for sale under 120 k.in dublin and county meath.
In meath a 3bed house with a garden is the same price as a 1bed unit in dublin.
prices in dublin will be 20 per cent higher in 3 years,
so even if you save 10k per year ,prices are going up by 15k per year
So saving may be pointless for a single person looking to buy .

http://www.daft.ie/meath/property-for-sale/?s%5Bmxp%5D=125000

prices in meath are low compared with any area in dublin.
or look at houses in finglas ,or dublin 15.
on Rte 1 1 iplayer , see crowded House program, theres loads of advice on how a single person can find somewhere to live in the present housing market.
dublin is an expensive place to live but people are arriving here every day because young people go where the jobs are.

Interested Observer

riclad wrote: »

so even if you save 10k per year ,prices are going up by 15k per year
So saving may be pointless for a single person looking to buy .

You only need to save a deposit, not the full value of the house.

Henbabani

riclad wrote: »

your income   is x  ,say for example 35 x 3.5= you can  borrow   125  approx max     and you need
10 per cent   deposit .
go to  daft.ie   and see  what is for sale   under  120  k.in dublin  and county meath.
In  meath  a 3bed house  with  a garden  is   the same price  as  a 1bed unit in dublin.
prices  in dublin   will  be 20 per  cent  higher   in  3 years,
so   even  if you  save 10k  per  year   ,prices  are going up by  15k  per year
So saving  may  be pointless  for a single  person looking to  buy  .

http://www.daft.ie/meath/property-for-sale/?s%5Bmxp%5D=125000

prices  in  meath  are  low compared  with  any area in dublin.
or  look  at houses  in finglas ,or dublin 15.
on Rte 1  1 iplayer  , see  crowded  House   program, theres  loads  of advice on how  a single person can find somewhere  to live in  the present  housing market.
dublin   is  an expensive place   to live   but   people  are  arriving here  every day   because young people  go  where  the jobs are.

you can guarantee for that? no one can.

Indricotherium

sbsquarepants wrote: »

The average couple in Ireland can not afford to buy the average house pretty much anywhere around Dublin.

Does the average couple in Dublin live pretty much anywhere around Dublin?