Renting vs buying in 2017

motorguy

saverbuyer wrote: »

That's very true. But the majority of jobs are in greater Belfast. For me, I'd rather sink an extra 300k and see the kids an extra 1-2 hours a day times 2 parents. Well worth it.

I was thinking about that and surely the point being you could live in a very comfortable semi in a decent enough are of Belfast without having to resort to spending £500,000 to £750,000 given those that are at that price point arent in business areas anyway?

There seems to be quite a few quite palatable semis in Belfast for under £300K if thats your thing?

So really spending that extra £300K is perhaps unnecessary to be able to get home and spend extra time with your kids?

£300K for a semi (if thats your bag) doesnt seem particularly unreasonable in a city, £600K+ not so much?

motorguy

qwert_yuiop wrote: »

What’s commuting like in Manchester? They’ve a tram system in the city which makes getting about quite easy, but are there many living 30 or 40 miles away and driving in?

Theres a great tram system. Anyone travelling from bigger distances would come in by train then either hop on a tram or walk from one of the train stations to work. Most people i work with have maybe a 30-40 min commute. They'd mostly use trains / trams as parking is expensive.

The hotel i use is walkable to the office i work in so zero travel costs when i get there. If its raining heavily i could get a tram for the three stops along but i moreoften walk.

qwert_yuiop

Doesn’t seem too bad - none of that coming in from 100 miles away that lots of people do to work in London. Costs a fortune.
Trams make it a lot easier in Dublin, too. The new line opening next month means crossing the city will be that bit easier.

motorguy

qwert_yuiop wrote: »

Doesn’t seem too bad - none of that coming in from 100 miles away that lots of people do to work in London. Costs a fortune.
Trams make it a lot easier in Dublin, too. The new line opening next month means crossing the city will be that bit easier.

I'm not sure on distances travelled but most people do travel in by train and some by bus.

Its one of the better places I've worked whilst contracting.

saverbuyer

motorguy wrote: »

I was thinking about that and surely the point being you could live in a very comfortable semi in a decent enough are of Belfast without having to resort to spending £500,000 to £750,000 given those that are at that price point arent in business areas anyway?

There seems to be quite a few quite palatable semis in Belfast for under £300K if thats your thing?

So really spending that extra £300K is perhaps unnecessary to be able to get home and spend extra time with your kids?

£300K for a semi (if thats your bag) doesnt seem particularly unreasonable in a city, £600K+ not so much?

It's the area mainly. I didn't want decent enough to be honest. I want great, so I'm happy to pay for it. Great schools, great people, completely mixed, tow path a few hundred meters away, good green space etc. I'm not from Belfast, nor is the OH. We're both happy to pay more for an area we feel secure and content in. It's the South Belfast premium i guess. It's a trade off between how much we can afford and where we want to live. If that 300k jump was a significant portion of our income it would be a different story. Luckily were avoided buying when prices were mental, saved a large deposit, have had some significant pay rises and bought at an ok time. Now, I wouldn't live anywhere else.

motorguy

saverbuyer wrote: »

It's the area mainly. I didn't want decent enough to be honest. I want great, so I'm happy to pay for it. Great schools, great people, completely mixed, tow path a few hundred meters away, good green space etc. I'm not from Belfast, nor is the OH. We're both happy to pay more for an area we feel secure and content in. It's the South Belfast premium i guess. It's a trade off between how much we can afford and where we want to live. If that 300k jump was a significant portion of our income it would be a different story. Luckily were avoided buying when prices were mental, saved a large deposit, have had some significant pay rises and bought at an ok time. Now, I wouldn't live anywhere else.

Fair enough. Sounds sensible and reasonable for your requirements and circumstances.

I read your original statement as you "had" to spend £500K ish to live in a semi in Belfast to be close to work and family, but your further insight explains it.

When you're "not from the city" its big numbers to get your head around for a semi detached house.

saverbuyer

motorguy wrote: »

Fair enough. Sounds sensible and reasonable for your requirements and circumstances.

I read your original statement as you "had" to spend £500K ish to live in a semi in Belfast to be close to work and family, but your further insight explains it.

When you're "not from the city" its big numbers to get your head around for a semi detached house.

100%. It's a mad amount for a semi, completely mental in fact. Go back 25 years and it would be 100k max. In my hometown you're looking at a large detached. But I wouldn't want to bring the kids up there. It's ok but not great. Then there's the commute. Basically to live exactly where I want to live that's what you have to pay at the minute.

kamizide

What are peoples thoughts on 3-4 bed semis in lower stranmillis area, near the boat club/cutter wharf? I've been looking at a few in laganvale manor/cutters lane sitting 200-250K

Tammykitty

kamizide wrote: »

What are peoples thoughts on 3-4 bed semis in lower stranmillis area, near the boat club/cutter wharf? I've been looking at a few in laganvale manor/cutters lane sitting 200-250K

Personally - I really like this area, although it is popular with young professionals renting, so might be different if looking for a family home?