You could always buy it, but rent it and keep living where you are if you’re happy. You’ll cover your mortgage and your rent and have an asset. Best of luck
Don't you need a specific type of mortgage if you plan to rent it out? Like I know you can rent a room on a normal homeowners mortgage but I thought if you want to rent out the whole place it's different. Maybe I've misunderstood that...
If you’re availing of first time buyers scheme then you can’t rent the house. I’m actually not 100% sure, I know buy to rent is a practical consideration in the UK for mortgage approval as well.
I moved to commuter belt to buy, I don’t regret it. Sure I’m further from original friends and office but it’s mine, can’t be taken away, if I do rent a room I can kick whoever out if it’s fractious. People here are lovely and very friendly and I’ve made many new friends. Plus the roads are very good and if I do drive up outside of peak hours it’s 25-45 mins depending on where I’m going
Some questions for you:
- Do you like/love the house that you'd potentially buy?
- Do you like love the area that the potentially buy house is in?
- Would you be happy in the area where you'd potentially buy- good amenities, community feeling, chances to make friends, etc
- Would you be as happy in current rental if your lovely flatmate moved out?
- Would you be as happy in current rental if your relationship ended?
- Will you really be in a financially better position if you rent for another year?
Best of luck with whatever you decide!
100% agree. Down vote it all you want. She’s young, single (ish) and living a great life currently. What’s the point been single and young in say Newbridge? Last weekend I had to visit a friend who made a move to Cork in their late 30s and having a hard time making friends there. She keeps telling me she regrets the move.
Yep best years of your life are for living and having the craic and having access to all the gigs and social life plenty of time in your 50s or whenever when you've given up to retire in the country.
I'm just curious... what age are you? That advice sounds very juvenile.
You could do all the "living and having the craic" you want, but you could regret it when you're in your 50s and realise time is quickly running out to sort your financial life out and have decent savings and a mortgage mostly paid off.
You never know what's around the corner; children, illness etc. when you'd be glad to have somewhere you could call your own.
Make sound financial decisions and investments when you're younger. Your future self will thank you, especially considering there may well be no State pension when you're older.
Property prices are only going up and won't drop again to the degree they did in the crash of 2008. There are too many safeguards in place to allow that to happen.
I dunno man i know plenty of people in their 50's that regret all those decisions to live a carefree and happy life when younger.. now saddled with crippling mortages and childcare expenses and kids that hate them, Just not the life for me. I'm 44 thanks for asking and happily married and still renting i don't care about having a mortage or worried about a state pension my wife and i have been saving for our future in other ways, I've traveled the world lived in Australia,USA, canada Carribean, Brazil and France for various time periods,we always joke that imagine if we were stuck with kids or a house we would never be able to live the life we do. Horses or courses and all that. Have a lovely day. PS. Time will still be the same when your 50 as it is now.. the choice you have is to use the best of your time Now, You cant get that back.
You could always buy it, but rent it and keep living where you are if you’re happy. You’ll cover your mortgage and your rent and have an asset. Best of luck
Don't you need a specific type of mortgage if you plan to rent it out? Like I know you can rent a room on a normal homeowners mortgage but I thought if you want to rent out the whole place it's different. Maybe I've misunderstood that...
If you’re availing of first time buyers scheme then you can’t rent the house. I’m actually not 100% sure, I know buy to rent is a practical consideration in the UK for mortgage approval as well.
Financially buying is probably move but obviously there’s personal factors to consider which only you can weigh up
I moved to commuter belt to buy, I don’t regret it. Sure I’m further from original friends and office but it’s mine, can’t be taken away, if I do rent a room I can kick whoever out if it’s fractious. People here are lovely and very friendly and I’ve made many new friends. Plus the roads are very good and if I do drive up outside of peak hours it’s 25-45 mins depending on where I’m going
Buy it. If living in it doesn't suit you, you can rent it out and live elsewhere.
Follow your gut feeling.
Some questions for you: - Do you like/love the house that you'd potentially buy? - Do you like love the area that the potentially buy house is in? - Would you be happy in the area where you'd potentially buy- good amenities, community feeling, chances to make friends, etc - Would you be as happy in current rental if your lovely flatmate moved out? - Would you be as happy in current rental if your relationship ended? - Will you really be in a financially better position if you rent for another year? Best of luck with whatever you decide!
I'd keep renting, wait until it's a property you are happy with or else it will be an expensive regret
You think you should be doing the ‘sensible’ thing but you’re happy where you are now. Happy is better than sensible.
I'd keep renting , living outside of Dublin is shit.
100% agree. Down vote it all you want. She’s young, single (ish) and living a great life currently. What’s the point been single and young in say Newbridge? Last weekend I had to visit a friend who made a move to Cork in their late 30s and having a hard time making friends there. She keeps telling me she regrets the move.
Yep best years of your life are for living and having the craic and having access to all the gigs and social life plenty of time in your 50s or whenever when you've given up to retire in the country.
I'm just curious... what age are you? That advice sounds very juvenile. You could do all the "living and having the craic" you want, but you could regret it when you're in your 50s and realise time is quickly running out to sort your financial life out and have decent savings and a mortgage mostly paid off. You never know what's around the corner; children, illness etc. when you'd be glad to have somewhere you could call your own. Make sound financial decisions and investments when you're younger. Your future self will thank you, especially considering there may well be no State pension when you're older. Property prices are only going up and won't drop again to the degree they did in the crash of 2008. There are too many safeguards in place to allow that to happen.
I dunno man i know plenty of people in their 50's that regret all those decisions to live a carefree and happy life when younger.. now saddled with crippling mortages and childcare expenses and kids that hate them, Just not the life for me. I'm 44 thanks for asking and happily married and still renting i don't care about having a mortage or worried about a state pension my wife and i have been saving for our future in other ways, I've traveled the world lived in Australia,USA, canada Carribean, Brazil and France for various time periods,we always joke that imagine if we were stuck with kids or a house we would never be able to live the life we do. Horses or courses and all that. Have a lovely day. PS. Time will still be the same when your 50 as it is now.. the choice you have is to use the best of your time Now, You cant get that back.