How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

12-02-2019 4:18pm

clonesbabe wrote: »

This is achievable with a long term plan and commitment. I am a single parent of one child and I now own my house outright.
...........

Do you earn megabucks or was the house really inexpensive?

pwurple · 12-02-2019 4:18pm

https://www.youtube.com/watch?v=

lainey_d_123 wrote: »

Ah, would you give over? If you were around in the 70s, then you have no idea what it's like to be 30ish now. I love how people from your generation think they worked harder and sacrificed more and conveniently forget how much more affordable housing was when you were young.

All this 'don't go to Starbucks' sh1te is just that - sh1te. I could never buy another latte in my life and it wouldn't make a blind bit of difference regarding being able to get a mortgage or not. I'm a single woman in my early thirties and you know why I can't afford a house?

- Didn't get any help from parents for college, or a grant, so had to take out loans of over 3k euros a year, in addition to working every summer and term time.
- Graduated right into the 2008 recession, and spent a few years taking any old sh1tty job going, just to pay the rent.
- While doing the above, I was paying a fortune in rent and bills. Well over half my paycheck every single month gone on just survival, before I even got into paying for food, student loan repayments, travel to work, etc.
- Have a chronic illness which costs me a lot of money in doctors visits and medication costs, am not entitled to a medical card.
- Still earning a below average wage now in my thirties due to the above issues and have only just been able to start saving anything at all. Still paying a fortune to rent a room and struggle to save anything.

I've never had a car. Never even had a driving lesson because I couldn't afford them. Never gone out drinking every single weekend. Never gone on a 'gap year'. I simply just have never had any money. As a single person who has always had to rent since leaving school, almost all my money has gone on essentials. There are plenty of people like myself.

I love how so many of the people here are thinking they're great for saving a mortgage when they have a partner and both are earning a decent wage. The funniest one is the guy whose partner already had savings. What are the rest of us meant to do, magic up a partner who already has money saved in the bank?

Lols. Sums. Sure I can't possibly remember 2 years ago.

Also, and I don't know how many times I've got to repeat myself here, the post you are quoting was a response to the question of how people in the 70's were able to buy houses on one income. It's because THEY HAD LESS STUFF! I'm not saying we should all live like the 70's now, obviously we don't. But this is the reason it takes two incomes now... we all have shedloads more schtuff now, to pay for.

You're dead right. You can't save until you have an income to put away. That's why my initial post had "Work work work". That's step one. Then you can make savings. No point in saving a pittance and not progressing in work.

clones1980 · 12-02-2019 4:23pm

Augeo wrote: »

Do you earn megabucks or was the house really inexpensive?

The house was really inexpensive. It needed work but was structurally sound.

DublinWriter · 12-02-2019 4:25pm

pwurple wrote: »

There was a thread in PI recently where the whole of boards seemed to think it was ludicrous that a guys new girlfriend didn't think a telly and a subscription was necessary in her house. She's right, it's a luxury. I remember my parents buying their first one.

I remember reading that and it sounded more like a bigger control issue on her part, they were paying joint rent and he ended the relationship.

lainey_d_123 · 12-02-2019 4:28pm

Cyrus wrote: »

you cant help getting ill, thats just unfortunate, but it sounds like your choice of college degree and subsequent career choices havent been great. you have to take that one on the chin.

also for various other reasons times in the 70s and 80s were very hard too, this thing that every generation assumes they had it harder than the last isnt always factual either ( i am in my 30s by the way)

But that wasn't an issue for that generation. Degrees were valued. It was that generation who told us 'any degree from a good college will get you far in life.' That was true right up to around 2008. Nobody can possibly know how the economy will change in the few years they're in college, how technology will move on or how valued their skillset will be. Luck plays an enormous part. Nobody who has chosen a solid degree subject and done well in it should be financially crippled into their thirties. Nobody's choice of degree at the age of 17 should decide whether or not they'll be able to buy a house, for Christ's sake!

DublinWriter · 12-02-2019 4:29pm

pwurple wrote: »

Also, and I don't know how many times I've got to repeat myself here, the post you are quoting was a response to the question of how people in the 70's were able to buy houses on one income. It's because THEY HAD LESS STUFF!

True in part, but the main driver is the exponential growth of house prices as a ratio of the average industrial wage.

Here's the science bit:
http://finfacts.ie/irishfinancenews/article_1012464.shtml

Graham · 12-02-2019 4:30pm

pwurple wrote: »

how people in the 70's were able to buy houses on one income. It's because THEY HAD LESS STUFF! I'm not saying we should all live like the 70's now, obviously we don't. But this is the reason it takes two incomes now... we all have shedloads more schtuff now, to pay for.

It's not just that people has less stuff in the 70s. Most families in the 70s as you point out had 1 income, this meant buyers could only drive up prices to the borrowing power of 1 income.

As 2 income households became more common, house prices crept up (leapt-up) to the borrowing power of 2 incomes.

pwurple · 12-02-2019 4:30pm

lainey_d_123 wrote: »

But that wasn't an issue for that generation. Degrees were valued. It was that generation who told us 'any degree from a good college will get you far in life.' That was true right up to around 2008. Nobody can possibly know how the economy will change in the few years they're in college, how technology will move on or how valued their skillset will be. Luck plays an enormous part. Nobody who has chosen a solid degree subject and done well in it should be financially crippled into their thirties. Nobody's choice of degree at the age of 17 should decide whether or not they'll be able to buy a house, for Christ's sake!

What degree did you do?

I think earning power is fairly vital to determining if you can buy anything, to be honest.
We were advised, in the 80's and 90's , to either get a trade, or a professional degree.

lainey_d_123 · 12-02-2019 4:31pm

pwurple wrote: »

https://www.youtube.com/watch?v=

Lols. Sums. Sure I can't possibly remember 2 years ago.

Also, and I don't know how many times I've got to repeat myself here, the post you are quoting was a response to the question of how people in the 70's were able to buy houses on one income. It's because THEY HAD LESS STUFF! I'm not saying we should all live like the 70's now, obviously we don't. But this is the reason it takes two incomes now... we all have shedloads more schtuff now, to pay for.

You're dead right. You can't save until you have an income to put away. That's why my initial post had "Work work work". That's step one. Then you can make savings. No point in saving a pittance and not progressing in work.

But plenty of people 'work, work, work' and still can't save much, if anything. Where is this endless supply of good jobs you seem to think exists? I don't have a bad job, but by the time I've paid my rent, bills, food, transport, medical costs and other odds and ends, I can barely save a cent.

You obviously didn't read my post, because I don't have any of this 'stuff' you keep harping on about. What 'stuff'?

12-02-2019 4:37pm

lainey_d_123 wrote: »

But that wasn't an issue for that generation. Degrees were valued. It was that generation who told us 'any degree from a good college will get you far in life.' That was true right up to around 2008. ............

Dunno about that, plenty good colleges have degrees that don't line the pocket.
A BA in history or English won't see you on megabucks........... nursing is a degree and well.....no need to say anymore on that one :pac:
I was in school in the 90s..........I wouldn't have done a BA in a fit as I was sure I wanted to earn a nice few quid from work. I couldn't see how a BA would facilitate that, generally speaking without further study, luck or some other factor.

pwurple · 12-02-2019 4:40pm

lainey_d_123 wrote: »

But plenty of people 'work, work, work' and still can't save much, if anything. Where is this endless supply of good jobs you seem to think exists? I don't have a bad job, but by the time I've paid my rent, bills, food, transport, medical costs and other odds and ends, I can barely save a cent.

You obviously didn't read my post, because I don't have any of this 'stuff' you keep harping on about. What 'stuff'?

You have internet access. Did they have that in the 70's? Did they have mobile phones? Did they have insulation in their houses? Our lives are far more expensive now, at a very basic level. And people expect things like living with more space. Ensuite bathrooms, not sharing. That's how it is now.

Where are the jobs... I don't think I've ever worked at a time when there were more jobs available. Any careers websites has hundreds of jobs.

What's your degree?

yourdeadwright · 12-02-2019 5:19pm

Its tuff one for single people living in Dublin who want to buy I really do feel for them ,

I Know a lad in his 30's who had to refuse a promotion and a slight pay rise, which could have lead to a much better paid job in the long run ,

His reason was that if he took the pay rise he wouldn't be able to get the HAP anymore and then it would actually cost him more over the year paying for rent on his own ,

He really didn't want to do this but financially it would have made no sense to him and his situation

To add to that he was getting 34 grand a year after tax so gets 1200 a month HAP , So his pay rise would have to be over 14 grand for him not to lose money, its a quite crazy system

snotboogie · 12-02-2019 5:24pm

If I was young, college educated, without responsibilities and sacrificing all disposable income to save for a house, I would take a step back and really think about why I wanted to buy in that area or city, why I was working a job that afforded me nothing more than subsistence living and what I could do to change my situation. I know people who sacrificed their youth for incredible careers or to lift their family out of a desperate situation, that’s worth it, a semi d in Dublin or Cork isn’t.

Eric Cartman · 12-02-2019 5:25pm

pwurple wrote: »

You have internet access. Did they have that in the 70's? Did they have mobile phones? Did they have insulation in their houses? Our lives are far more expensive now, at a very basic level. And people expect things like living with more space. Ensuite bathrooms, not sharing. That's how it is now.

Where are the jobs... I don't think I've ever worked at a time when there were more jobs available. Any careers websites has hundreds of jobs.

What's your degree?

Not saying this poster has done any of this but in the old days people went and got a degree that had a good job out at the end , then degrees became the done thing and you had people cruising through doing english and anthropology through arts, now you have crap like masters in gender studies etc... a traditional degree thats now almost meaningless is journalism . People need to re focus on getting degrees with real careers at the end , not just the easiest / least hours / warms their little lefty heart degrees.

12-02-2019 5:31pm

yourdeadwright wrote: »

........Its tuff one for single people living in Dublin who want to buy I really do feel for them ,.....

To add to that he was getting 34 grand a year after tax so gets 1200 a month HAP , So his pay rise would have to be over grand for him not to lose money, its a quite crazy system

He's on almost €3000/month take home and get's HAP?

yourdeadwright · 12-02-2019 5:38pm

Augeo wrote: »

He's on almost €3000/month take home and get's HAP?

According to there websites as single person you qualify in Dublin if you earn under 35 grand after tax .That would be for 1200 towards rent, The rent allowance goes up depending how many kids and so on

Brego888 · 12-02-2019 5:40pm

Augeo wrote: »

He's on almost €3000/month take home and get's HAP?

Yeah surely this can't be true?

Geuze · 12-02-2019 5:41pm

Brego888 wrote: »

Yeah surely this can't be true?

2016 HAP income limits

https://www.housing.gov.ie/sites/default/files/migrated-files/en/Publications/DevelopmentandHousing/Housing/table_with_2016_income_limits.pdf

12-02-2019 5:42pm

yourdeadwright wrote: »

According to there websites as single person you qualify in Dublin if you earn under 35 grand after tax .That would be for 1200 towards rent.........

If that's true it's a total joke.........I reckon it's not true tbh.

yourdeadwright · 12-02-2019 5:43pm

Augeo wrote: »

If that's true it's a total joke.........I reckon it's not true tbh.

It is true, someone just posted the section form there website,

At the moment the general public don't seem to be wide to it ,when they are it'll be knocked on the head ,

At the moment the usual suspects who know every way to save few quid are all over it ,

yourdeadwright · 12-02-2019 5:46pm

You have to go through checks and be assed .
For instance they check if your parents can house you and things like that,

Caliden · 12-02-2019 5:47pm

Augeo wrote: »

If that's true it's a total joke.........I reckon it's not true tbh.

It is true.

Like someone else said, I don't think people realise that it's 35k AFTER tax

Claw Hammer · 12-02-2019 5:53pm

Jack0125 wrote: »

A secondary school teacher said to the wood work class one day...you need to be saving a quarter of your net pay from your first job onwards

Its a good mantra...save from 23 to 30 years 5k a year. 40k deposit.

Cant arrive at 30 with no savings in the bank.

What sort of an eejit would work for 20k net a year. That's less than €400 a week.

milhous · 12-02-2019 5:55pm

Little Less Conversation wrote: »

I wasn't thinking of the future in my 20s, I was useless at saving and who wants a life long commitment in your 20s. The recession hit in my late 20s and I gave up work to go back to college. Then I spent some time unemployed. I eventually got some work but the pay was horrible. I'm upskilling again because a change in jobs wouldn't have done it.

Just how do people do it. I'm a long way off from getting any kind of a deposit together and even if I can get something, I don't think a bank would even look at me.

I'd be quite happy in a mobile home except you need planning permission for that and the only way you would get granted planning permission for a mobile home is if it's part of a new build and it's used as temporary accommodation.

How are we meant to get our own place?

Well I suppose most people who are home owners in their early 30's may have left school, did a worthwhile degree in college and worked since, maybe took a year or two to **** around a bit with travelling but were still career focused. Then saved a bit in their late 20's and bought.

Or worked straight out of school, worked up in their industry and saved/bought.

I'd say some are couples, Some may have had help from parents, some inheritance, some frugal, some opportunistic.

I think 5 or 10 year plans are a great tool.

yourdeadwright · 12-02-2019 5:58pm

Caliden wrote: »

It is true.

Like someone else said, I don't think people realise that it's 35k AFTER tax

The general public seem to not have coped it, Anyone iv spoke to haven't had a clue

If you earn say 34500 after tax you can live the same as someone making 48900 after tax by getting on the Hap.

A single person in Dublin will be saving 14400 on rent a year,

bigpink · 12-02-2019 6:34pm

Claw Hammer wrote: »

What sort of an eejit would work for 20k net a year. That's less than €400 a week.

Many people do that doesn’t make them eejits

upinsmoke · 12-02-2019 6:51pm

klaaaz wrote: »

The vast majority of replies here are from dual income buyers, the question was "someone" not "couples" I think we know the answer for a single person, it's extremely hard to afford a house on their own presently. Maybe easier to afford an apartment though.

Not really outside of Dublin to be fair. Even if your on 35K will be able to get something.

Little Less Conversation · 12-02-2019 7:13pm

What is this HAP scheme? Can I possibly have my rent paid for me?

Eric Cartman · 12-02-2019 8:07pm

Little Less Conversation wrote: »

What is this HAP scheme? Can I possibly have my rent paid for me?

If youre a traveller with a load of kids and double digit criminal convictions they pay all your rent for a city centre apartment

lainey_d_123 · 12-02-2019 8:14pm

pwurple wrote: »

You have internet access. Did they have that in the 70's? Did they have mobile phones? Did they have insulation in their houses? Our lives are far more expensive now, at a very basic level. And people expect things like living with more space. Ensuite bathrooms, not sharing. That's how it is now.

Where are the jobs... I don't think I've ever worked at a time when there were more jobs available. Any careers websites has hundreds of jobs.

What's your degree?

That's a silly argument. Nobody had mobile phones or internet then so they didn't miss them, but they did have things which were expensive at the time, things which are now very cheap. I've never had an ensuite bathroom, so not sure how you think people 'expect' those. I live in a shared house, and share a bathroom with four strangers. I can't afford an ensuite room.

Sure, there are jobs, but the point is they don't pay enough. My dad had a very average job at my age which enabled him to buy a 3-bed semi-detached house in Dublin and support a family of five. I have the same kind of average job and I can't even afford to rent on my own. And yet instead of acknowledging this basic fact, people are rabbiting on about not going to Starbucks.

How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

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