Moving out of Dublin

B

BumpkinBilbo

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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.
 
BumpkinBilbo said:
We have €215k inc deposit
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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.
 
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.
 
Dr Strangelove said:
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.
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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.
 
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.
 
BumpkinBilbo said:
Our max is €230k but I'm reluctant to take it as it would limit our ability to save and deal with emergency expenses.
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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.
 
DannyBoyD said:
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.
Click to expand...
Thanks, you're right.
 
Where do your parents live and how often do you want/need to visit them?. If they were on the southside then Naas is the obvious choice, or Sallins. You'd get a 2 bed appartment in Sallins for around €220k in walking distance to the train station

You could go further south, even as far as Carlow as that is only 45 minutes from Newlands Cross in non-rush hour and has great train services into Heuston for the one day a week you'd be travelling.

Probably more information needed if you want more exact advice and perhaps you should consider doing the money makeover template and reporting
 
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