Moving out of Dublin

[BumpkinBilbo]

Hi all,

We've been approved for a mortgage and just can't afford Dublin prices. We do live in Dublin right now in a family home. We were due to buy the house we live in but family greed is getting in the way of agreements.

We have €215k inc deposit.

I work for the civil service and should be able to WFH four days a week and commute to Dublin. My wife will need to change job.

Has anyone any recommendations about a good place to live would be (ideally near a motorway as I have elderly parents in Dublin).

In a housing estate would be best as we've two young kids (3 and 9) and would like them to find friends, schools, creches etc.

I'm thinking Cavan/Louth/Leitrim/Offaly, open to others too.

Thanks all.

 

[Dr Strangelove]

We have €215k inc deposit

Are you borrowing to the max?

You can borrow 4x income as standard and lenders are allowed to offer some exemptions to lend more.

Recommendations on where to live are very dependent on where your parents live and where your employer is based.

 

[Knuttell]

Mullingar is a fine midlands town, nice people by and large. 48 miles from Dublin and circa 1hr 10 min drive (untolled road).Good rail link.

 

[Pinoy adventure]

Port laoise
Co Laois in general has decent prices

 

[BumpkinBilbo]

Are you borrowing to the max?

You can borrow 4x income as standard and lenders are allowed to offer some exemptions to lend more.

Recommendations on where to live are very dependent on where your parents live and where your employer is based.

Thanks for the reply.

Our max is €230k but I'm reluctant to take it as it would limit our ability to save and deal with emergency expenses.

My parents are out the outskirts of Dublin city and my employer will be on O'Connell Street in the city.

 

[DannyBoyD]

230k is the max you can pay or the max you can raise on a mortgage.

Strike that, I see 230k is the max you can pay.

You need a home; throw everything you can at that objective. You can, and will, build up another rainy day fund.

 

[Dr Strangelove]

Our max is €230k but I'm reluctant to take it as it would limit our ability to save and deal with emergency expenses.

I don’t think you need to be saving as you are in bulletproof employment presumably on an incremental scale. You need to throw all you can at a house. You are at the most costly stage for kids as well and you will be over that hump at some stage. €230k will not buy much house anywhere unfortunately so you need to max out.

Otherwise you are an entry grade civil servant or just above it. How about a transfer to a decentralised location? Less options for career progression but same salary, the cheaper housing you are looking for, and no commute to Dublin.

 

[BumpkinBilbo]

230k is the max you can pay or the max you can raise on a mortgage.

Strike that, I see 230k is the max you can pay.

You need a home; throw everything you can at that objective. You can, and will, build up another rainy day fund.

Thanks, you're right.

 

[PoundMan]

@BumpkinBilbo out of interest may I ask what public sector department allows WFH four days per week? I thought it was 2-3 days at most across the public sector.

 

[DeeKie]

What side of the city are your parents

 

[BumpkinBilbo]

@BumpkinBilbo out of interest may I ask what public sector department allows WFH four days per week? I thought it was 2-3 days at most across the public sector.

Edit: The Revenue Commissioners and many other departments that only deal with the public by phone or email.