Help for home leavers?

oceanman

antimatterx wrote: »

Not exactly a high salary tbh

but certainly not low enough to need any sort of help...

antimatterx

oceanman wrote: »

but certainly not low enough to need any sort of help...

A salary of 44K would give you the ability to obtain a mortgage up to 154K. It certainly is low enough to warrant help.

Still waters

antimatterx wrote: »

A salary of 44K would give you the ability to obtain a mortgage up to 154K. It certainly is low enough to warrant help.

Its not a low wage, he just can't afford a house in dublin now, let him move job or county to someplace he can afford or else a better paying job, people can't have everything they want just out of college

oceanman

antimatterx wrote: »

A salary of 44K would give you the ability to obtain a mortgage up to 154K. It certainly is low enough to warrant help.

he should be well able to save a considerable chunk of money over say ten years or so. the problem is he wants he cake and eat it.

Mrs OBumble

antimatterx wrote: »

A salary of 44K would give you the ability to obtain a mortgage up to 154K. It certainly is low enough to warrant help.

If that was his likely maximum salary ever then you may be right.

But someone who is on that a year or two out of college will soon enough be on a lot higher, and does not need help to house themselves.

ednwireland

i lived in a house share until i was 32 that was 22 years ago.

bought a wreck of a house still working on it !

TimeToShine

vikings2012 wrote: »

Perhaps, in years to come the government will have such ‘Get started’ schemes available in order to attract the young qualified and talented individuals to work and stay in Ireland. I am aware that some of the corporates are doing this for the initial hiring of employees.

We can barely accommodate our own young people in Ireland let alone go looking to attract foreign young people. We are already haemorrhaging talent due to our inability to house them and offer decent living conditions, if such schemes do come to fruition they would be centered around Cork & Galway, Dublin is already bursting at the seams and is showing no sign of letting up.

antimatterx

TimeToShine wrote: »

We can barely accommodate our own young people in Ireland let alone go looking to attract foreign young people. We are already haemorrhaging talent due to our inability to house them and offer decent living conditions, if such schemes do come to fruition they would be centered around Cork & Galway, Dublin is already bursting at the seams and is showing no sign of letting up.

If foreign young people have the skills needed for jobs (Trades, Tech, Health for example) they are more than welcome to come here. The Irish without the skills needed can move out of the Dublin.

dubrov

TimeToShine wrote:

We can barely accommodate our own young people in Ireland let alone go looking to attract foreign young people. We are already haemorrhaging talent due to our inability to house them and offer decent living conditions, if such schemes do come to fruition they would be centered around Cork & Galway, Dublin is already bursting at the seams and is showing no sign of letting up.

There won't be housing for anyone if 24 year olds are insisting on their own place

Yurt2

antimatterx wrote: »

The Irish without the skills needed can move out of the Dublin.

Outstanding. Fine Gael 2020.

Toot! Toot! Roll on election Day - never before has it been so apparent that Fine Gael need to be sent to the badlands.

FF stink as well, but FG are simply putrid.

fineso.mom

Graces7 wrote: »

Bless you!

I'm sorry, you've quoted my whole post and replied with an emoji and a 'bless you'. Was there more to your post that didn't upload?

Saudades

oceanman wrote: »

he should be well able to save a considerable chunk of money over say ten years or so. the problem is he wants he cake and eat it.

On their high salary they don't need to wait anywhere near 10 years to escape the renters rat race. Maybe they wish to travel a lot first but they could be a home-owner in less than 5 years if they're serious about saving. Not sure they want their cake and eat it, to me it just sounded like they asked a simple question. For all they knew, there could have been a tax credit or benefit that they were unaware of.
Though they rent at the moment so if they know their rights, there's a maximum of 4% a year rent increase limit due to the RPZ rules, which is still too high but it's a start and at least protects from surprise >10% hikes which was happening in the last decade.

antimatterx wrote: »

A salary of 44K would give you the ability to obtain a mortgage up to 154K. It certainly is low enough to warrant help.

Up to 154k but that's on top of a minimum 10% deposit and any further savings.

They're on 3,666 a month and only paying 400 a month for rent. That's only 11%. They're only 24 so I'd suggest stick this out for 3 years and they should be able to save at least 2,000 a month. In 3 years that will be 72,000 to add to that mortgage loan up to 154k. Not even taking into account any pay-rises.

226k gives options from 100 Dublin houses on daft, or 220 apartments.

Personally I think they're in a great financial position for their age.

TimeToShine

I don't know where this talk of 44k netting 3500+ a month is coming from, it's more like 2800 and then if OP pays into a pension you can knock that down another few quid to 2650. Saving 2000+ is dreamland.

I'd bet my house OP is a graduate working in aircraft leasing, 45k salary and net about 2700. Not a hope of buying in Dublin with that salary.

punisher5112

TimeToShine wrote: »

I don't know where this talk of 44k netting 3500+ a month is coming from, it's more like 2800 and then if OP pays into a pension you can knock that down another few quid to 2650. Saving 2000+ is dreamland.

I'd bet my house OP is a graduate working in aircraft leasing, 45k salary and net about 2700. Not a hope of buying in Dublin with that salary.

If they save for long enough they will.

AulWan

TimeToShine wrote: »

I don't know where this talk of 44k netting 3500+ a month is coming from, it's more like 2800 and then if OP pays into a pension you can knock that down another few quid to 2650. Saving 2000+ is dreamland.

I'd bet my house OP is a graduate working in aircraft leasing, 45k salary and net about 2700. Not a hope of buying in Dublin with that salary.

The OP gave their take home pay figures as approx 3,100.

1123heavy wrote: »

You see I could rent an apartment for 1,600eu fairly close to work and then have about 1,5 k to live off per month, covering everything from bills to leisure activities, then that's my salary gone with 0 savings.

Going back to the originial question the OP asked, which was is there is any help for home leavers, then the answer of no is not actually true.

There is HAP, which those in employment, including single people, can apply for. But, in order to qualify for HAP they must first qualify for social housing and earn under a certain limit and unfortunatley, the OP in this case already exceeds the cut off point for both.

For example, the cut of point for a single person with South Dublin County Council is net income of €35k.

So, how low/high should they realistically be? and how should it be prioritised?

No offence to the OP, but any subsidy given to the OP, who can actually afford to house themselves from their own income, would only go to increase their savings. It would not actually be because they need the money to be able to afford to put a roof over their heads.

KneonK

Man there are some bitter bitter people here.

There are some grand apartments if you are willing to rent a room.
There's places around island bridge every now and again that cost maybe 800 a month but you get a gym and a good location. Living with a stranger or two is a good taste of independence also.

Get into saving, start a credit union, look at meal prep for week etc and you can save actual hundreds . Do crappy overtime if you get the chance. Prepare to do do this carry on for a few years and you could definitely get your foot on the ladder with a 2 bed apartment of your own before the age of 30. Can sell that off a bigger place later if you plan to start a family etc etc. boring advice but it works!

Putting in the work to get a degree and a decent job and being called entitled is so $&$^$^ stupid.

Dav010

KneonK wrote: »

Putting in the work to get a degree and a decent job and being called entitled is so $&$^$^ stupid.

The op isn’t accused of being entitled because he/she worked hard to get a degree and job, tens of thousands of graduates are in the same position every year. It’s just that not many of them ask if the taxpayer can help them buy a nice pad because they don’t want to share with other people while saving.

Get Real

Op you'll get there. I know that means nothing right now, but fair play to you. Presuming circa 2,800 after tax, I'd advise share for a few years, save 1k a month, and whatever is left over budget from that.

I would stress, put that figure before anything else, perhaps have a direct debit come out of your bank account into a credit union. In 5 years, you'll have 60k, and a good track record for a mortgage.

The positive aspect of that is, you still have 1,800 left a month. To spend as you choose. I don't see (but could be wrong) that 400 p/m rent lasting long term. So say you get a nice room for 800. 1k left/250 a week for spending. You could spend that on amenities and pints every week, or spend just a hundred and go away a few times a year. Or not go away and re-invest any money not spent to your credit union. But that's your business and choice to do what you wish. As long as you are direct debiting the initial 1k savings and ringfencing that.

I have no idea as to your increment scale (if any) etc. But this is a win win. If you are on a scale, divide the increase 50/50 between money for you and money for savings. If you're not, (and we don't know if it'll be there in 5 years) the Rebuilding Ireland scheme relaxes rules for single earners with an income of lower than 50k.

You'd be eligible for a loan in a property up to 320k in Dublin, and you'd have a 60k deposit. The 320k wouldn't necessarily be a target, you could find an apartment for 250 etc.

Again, that scheme may not be around in 5 years. But just showing you it is possible, and there are means and ways and assistance.

Also, don't let anyone sh1t on your parade. What I don't get about this in particular is its an attack from 2 sides. Those on a lower income who begrudge and say "look at you on 44k, how are you struggling" and those on higher incomes/who have a house who say "I did it, stop complaining, back in my day..etc"

I know people who started in fast food restaurants the day after their leaving cert who have no degrees, who now own a house and bettered themselves through practical means and jobs. I know people with top degrees who contract in IT on a day rate of 500quid. Some have houses, some don't. Some prefer travelling, some prefer hobbies.

We're all part of the same social circle. One might not have a house, but has a partner and kid. One might have a house and be dying for a kid etc. Everyone has something in their life that someone else doesn't. Don't let either side begrudge you/belittle you based on you seeking help to better yourself.

A man here wants to have his own place, and the property situation is ridiculous in Ireland. But how does that evoke any kind of judgement on him as a person? To the experts and the "poor me" types, what's stopping ye from living perfectly then if it's so straightforward?

L1011

AulWan wrote: »

The OP gave their take home pay figures as approx 3,100.

I suspect they may either not have worked or have left standard rate cut-off for part of the year and hence were paying less tax after obtaining the graduate job part way through the year. In which case January's salary will be a bit of a shock!

~2800 is the correct amount for normal credits.

AulWan

L1011 wrote: »

I suspect they may either not have worked or have left standard rate cut-off for part of the year and hence were paying less tax after obtaining the graduate job part way through the year. In which case January's salary will be a bit of a shock!

~2800 is the correct amount for normal credits.

OP himself said his maths were correct.

1123heavy wrote: »

Maths are correct on average over a year, some months will hit 4 gross and others 3.5. It's heavily variant on exactly how much i work from 1 month to the next but i can say for certain i will take 44 each year due contractual agreements, hence me stating that as a figure I know I can work on.

He also said (very vaguely) something about extra allowances which are tax free.

I just based my post on the figures he posted!