Im wondering if anyone in a similar position could give me some advice and their experience of getting a leg up on the property market.
I want to build or buy and Id love get started on one or the other this year. I would also be doing it alone.
Im 30, teaching with full time hours for the last two years but on a part time pro rata contract. My salary before deductions (including supervision/substitution payments, allowances etc) is about €36000. I also do a few bits and pieces outside the day job that brings in another 3-4000 a year. I also have €30,000 in savings.
Im thinking about a moderate size house, 3 bedrooms, no garage. Looking at houses of a similar specification on the property websites, they tend to list for 210,000 to 250,000 depending on area (Im a rural area in the south-east). If I was building I would be looking at similar, a 3 bedroom dormer ideally.
"Confused" aint the word for it!
I know not having a permanent contract at work is a problem and giving the way teaching is at the moment it could be years before that arrives even though the work is there. Also I haven't any major expenses- my car is the major one and im due a money which i intend using to pay that off. I have a low maintainance lifestyle otherwise.
So what am I asking?
- is a house affordable on this salary (outside of my savings) and still hoping to do things like eat afterwards?
- how have people found dealing with mortgage companies without having a permanent contract?
- how much do the extras of the whole process cost?
- is buying or building a better option?
- what would be advised as regards using the savings if I were to go ahead? smaller mortgage? save for decorating? try and borrow enough for both and keep a chunk of savings just in-case?
Any inspiraton would be greatly appreciated.
I want to build or buy and Id love get started on one or the other this year. I would also be doing it alone.
Im 30, teaching with full time hours for the last two years but on a part time pro rata contract. My salary before deductions (including supervision/substitution payments, allowances etc) is about €36000. I also do a few bits and pieces outside the day job that brings in another 3-4000 a year. I also have €30,000 in savings.
Im thinking about a moderate size house, 3 bedrooms, no garage. Looking at houses of a similar specification on the property websites, they tend to list for 210,000 to 250,000 depending on area (Im a rural area in the south-east). If I was building I would be looking at similar, a 3 bedroom dormer ideally.
"Confused" aint the word for it!
I know not having a permanent contract at work is a problem and giving the way teaching is at the moment it could be years before that arrives even though the work is there. Also I haven't any major expenses- my car is the major one and im due a money which i intend using to pay that off. I have a low maintainance lifestyle otherwise.
So what am I asking?
- is a house affordable on this salary (outside of my savings) and still hoping to do things like eat afterwards?
- how have people found dealing with mortgage companies without having a permanent contract?
- how much do the extras of the whole process cost?
- is buying or building a better option?
- what would be advised as regards using the savings if I were to go ahead? smaller mortgage? save for decorating? try and borrow enough for both and keep a chunk of savings just in-case?
Any inspiraton would be greatly appreciated.
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