Anyone else getting pressure from parents to buy?

It’s like people never learned anything from the bubble years and the debt mountains foisted onto young Irish singles & couples.

My Dad would be a very clever man. Raised 5 kids in the '80s, working two jobs. He knows the value of money.

Yet, he’s telling me rent is dead money and why can’t I buy a house in Dublin with my brothers. FFS.

He bought his current house in early '90s, avoiding all the madness that ensued. I was lucky to avoid it too. If I had been a few years older I’d not have escaped.

My eldest brother wasn’t so lucky. He’s on a low wage and stuck with a sizeable mortgage for a tiny place. Wife doesn’t earn much either and their 2nd is on the way. Dad even chips in to pay things like their property tax.

But I’m the one being told to buy now despite all this…

I keep getting asked, “are you thinking of buying?” But there is no pressuring going on behind the question anymore. Hasn’t been for about 2 years now.

I was, until I went to a few viewing with my parents.
They were very unimpressed with the properties for sale, the location, the prices etc etc.

They are now as disillusioned as most pinsters.

We got persistent questions from the OH’s parents - the standard answer was ‘another six months’ and ‘we need a bigger deposit first’. Also ‘we’ve too much going on at present’.

We recently bit the bullet but it was when we were ready and confident we had everything in place to make it less risky (decent deposit, repayments less than 25% of net income etc etc.).

On the rent is dead money bit I heard this line from a relation high up in HP recently who I thought would know better - I was shocked tbh.

Nice tactic

OH’s parents and siblings were coming on strong telling us to knock D8 on the head and live in a “nicer area” like D14.
A chat about the facts of life followed and they’ve left us alone since.

telegraph.co.uk/finance/pers … onomy.html

"Nor is it a good thing that everybody should be encouraged on to the property ladder from the cradle. Owning your own home, particularly at the child-rearing stage of life, is generally beneficial: it can – assuming that you are not trapped in too high a mortgage – provide stability and security.

But being locked into (mortgaged) property-ownership before you have undertaken the responsibilities of adult life, or even decided what you want your life to be like, is absurd. It is a trap which makes people less adaptable, less able to grasp unexpected opportunities, and less free to make the sort of adventurous decisions that ought to characterise the early years of grown-up existence. It is so very much harder to sell a home and extricate yourself from a mortgage than it is to escape from a rental agreement.

Much is said in favour of the independence which property-owning brings, but it is easy to forget the loss of social and economic mobility that goes with it."

When the parents and family live beyond the pale they really don’t seem to understand that for the price of their nice detached house down the country you get a bedsit with a window looking at wall on a street stewn with syringes up here.

back when the old man was pressuring me to buy, one of his cronies who had bought plenty property early was telling him Rathgar was “a good area” - :unamused: - yeah, I f’'king know it is…

having recently bought, parental advise was around that there’s more to life than property ownership and not overstretching ourselves

good advice imo

We already had our foot on the ladder as we owned a property and I guess the advice would have differed had we be renting

I recently bought out co-owner. Valuation was higher than expected but not in negative equity. A bit stretched but approx 60% of each mortgage payment goes towards capital as I took over mortgage which had been running a few years.

The part of each mortgage payment which goes towards interest is less than half what I would pay in rent for a similar property. If the value stays stable (SCD so safe enough) then I reckon I am on a winner.

Although I wouldn’t dare say it, the net effect is that if I had sold instead of doing a buy out I would be paying about the same in rent and it would be dead money :slight_smile:.

The idea of paying somebody else’s rent rather than paying to get equity in a house makes my stomach turn. With house prices having declined substantially and rents rising, it makes sense to buy a home. Obviously it is risky. Also you might have to live in the sticks if you want something that will hold a few children, whereas you could happily rent a small place in the city centre now. One thing to remember is that time waits for no man. It can be hard to get a mortgage as you get older.

With respect, that is absolute nonsense. “Rents rising” represents a trend at one point in time. Past performance does not determine future performance.

Extrapolation is what brought about this mess in the first place.

Or the parents in their nice leafy Dublin subhurb are wondering why that awful son-in-law is trying to get their daughter to live in a “terrible place” like Clondalkin. It’s kind of frustrating to have to explain to them that the only people who can nowadays afford the house they are living in are other elderly people with no children.

I think that point is lost on a lot of people.

I’ve had that conversation as well.
A lot of the retired folks don’t/wont understand it.
I work in retail and I can’t believe that the over sixties are oblivious to the fact that they are the only ones buying the same shoe in several colours and taking the handbag that goes with.
:unamused:

:smiley:
Great family homes on Ailesbury road too but its so far out

I can relate to this as well. They don’t seem to understand that we have to compromise on some things in order to be able to afford a house, and that we wouldn’t be able to buy a house like the one they live in. Whatever we end up buying, both sets of parents will probably think that we could have done better.

“Are you going to give me your house or do I have to wait for you to die?”

Also, parents from down the country don’t often realize that many parents resident in Dublin can afford to give Tarquin a huge chunk towards his house in a nice area. How many times have we seen mummy, daddy and the Range Rover in tow at viewings in decent areas? Those relying on only their own incomes don’t have much chance…

Reading this thread, I almost feel as though I’ve fallen through a wormhole into 2005!