Buying a Home

JennyBurke101

Closing thread.

catrionanic

You are proposing buying his parents council house and moving in with him, his parents and his brother, rather than buying a home for yourselves?

Are you mad?

Have you thought of your future here? I assume you may want children in the future, and even if you don’t, they may come anyway. How would that work? All of you living under one roof?

And what if you want to move on and get your own space - how do you manage that? You’d need a 20% deposit as you’d no longer be a first time buyer. That is a LOT of money which 95% of people can only raise by selling their first home and releasing the equity. So then you’re potentially in a position where you have to sell their house from under them, or else be trapped there with your brood of kids for all eternity - how would that go down?

Yes, it’s noble and selfless. But it’s also crazy.

coylemj

JennyBurke101 wrote: »

I know they really want to keep the house in the family and my partner has always said to me he would love to keep it in the family and live there and raise his kids there.

With his parents and two brothers still living there, where are the kids going to sleep - on top of the wardrobes?

Even if your relationship is a long and happy one, this is a crazy idea. What you are proposing to do is to sink a lot of your money into an asset which you will not have exclusive use of for a long time, possibly never.

One thing to bear in mind in the light of ever increasing rents in Dublin - your partner's two brothers will never move out of that house as long as they don't have to pay market rents. If you and your partner buy the house under them, you will be stuck with them for a very long time.

JennyBurke101

Hey listen I know im asking for opinions here but catrionanic and coylemj you don't have to be so horrible just because you might be shrewd money hogs doesn't mean everyone else is. did you ask how many bedrooms the house has? how old his brothers are? Am I infertile? are we both buying the house? or just him? how well we are payed? I know I want opinions but id appreciate if you could hold back on the condescending aggression.

I am just looking for helpful non judgemental opinions

Wood

If you two are not living there currently you will not be able to buy it, as the councils do not sell to non-tenants.

I think it's a terrible idea. Let the other brothers buy it if needs be. They would get a sizeable discount on the market rate for living there (up to 60%) and only need a minimum gross income of €15K.