Hi all,
In spite of the current 'economic climate' (im hating that phrase already), I am still intent on planning towards the elusive goal of home ownership and feel that this is becoming even more doable, so long as the relevant minister doesn't cook up another idiotic budget. In twelve months I should have relatively longterm secure contract. And also have completed my training for a second part time career which I hope to use to give me additional income,ideally that will cover a moderate mortgage and also broader career fallback options in the medium term.
By the close of 2008 I will have €65000 in savings, which is currently in an AIB savings account and I estimate that I can save at least €15,000 next year, maybe a little more? Currently 3 bed semis in this area are advertised for between €180,000-220,000 and several have been on offer for a long while now. On the basis of these prices and my savings I estimate that I would require a mortgage of approx €120-130,000.
So I am wondering if leaving my savings in these accounts for the time being is the most productive and safest thing to do with them?
Also I am wondering has anybody had any experience of making offers for houses similar to this spec for below the asking price and having them accepted and if so my how much?
In spite of the current 'economic climate' (im hating that phrase already), I am still intent on planning towards the elusive goal of home ownership and feel that this is becoming even more doable, so long as the relevant minister doesn't cook up another idiotic budget. In twelve months I should have relatively longterm secure contract. And also have completed my training for a second part time career which I hope to use to give me additional income,ideally that will cover a moderate mortgage and also broader career fallback options in the medium term.
By the close of 2008 I will have €65000 in savings, which is currently in an AIB savings account and I estimate that I can save at least €15,000 next year, maybe a little more? Currently 3 bed semis in this area are advertised for between €180,000-220,000 and several have been on offer for a long while now. On the basis of these prices and my savings I estimate that I would require a mortgage of approx €120-130,000.
So I am wondering if leaving my savings in these accounts for the time being is the most productive and safest thing to do with them?
Also I am wondering has anybody had any experience of making offers for houses similar to this spec for below the asking price and having them accepted and if so my how much?