Alternatively, could you get a second job to boost your income?
Maybe you're right but it's not unheard of for folks to work more than one job while raising kids.Hardly feasible for a single person with a full-time job and a child
In your case, you could buy a place for €152k, with a loan of €137k and a deposit of €15k. (Figures rounded.)
www.rebuildingirelandhomeloan.ie
OP said she hoped to get a mortgage in a couple of years. If she could up the savings to, say, €500pm she'd hit that deposit in two and a half years. That would also demonstrate an ability to repay the mortgage, which would be about (my estimate) €600pm. That's a realistic plan.OP has just started saving €300 a month it will take her several years alone to save the €15,000 for the deposit.
Agreed but it's all very tight. Age is also a relevant factor here as it effectively reduces the potential term of the mortgage, which would increase the monthly repayments.That's a realistic plan.
OP said she hoped to get a mortgage in a couple of years. If she could up the savings to, say, €500pm she'd hit that deposit in two and a half years. That would also demonstrate an ability to repay the mortgage, which would be about (my estimate) €600pm. That's a realistic plan.
True.It's not just the deposit, which will be very hard to save for on such a small wage, there's the legal fees, another couple thousand, stamp duty and then furniture.
Yes is the answer - but the post does not say where the lady wishes to purchase. I’m thinking of any town in rural ireland - where 100k will get her a standard 3 bedroom semi. A clerical officer can work in civil service, hse, local authorities, etb, etc - so even if you don’t work in rural location one could move and achieve all her dreams
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