Buying a house

[clonian]

On reflection, I regret not buying a wee flat ( even a doer up) for my kids when they went to college in UK.
Renting in UK has got so expensive...robbed

£800-£1000 per month in Belfast
Be better of buying them a car but then miss out on the whole experience?


https://www.irishnews.com/news/northern-ireland/norther-ireland-parents-spending-1000-on-student-digs-as-holylands-housing-shortage-bites-MR6JJFV365EJRHZ42CDIMQM5JA/

Anyboy know how much the new student accom. is in Belfast city centre? The ones beside UU.

Were they not built to take the pressure off the Holylands area?  Alhough students probably prefer the Holylands area for the craic. 

The young fella was in the Prestige Living one last year across from UU and he was paying £680 per month for 10 months.

I think they can also now let in non students

I've 3 at GCSE & A level, assuming 3 years each up there or elsewhere is £61,200. Feck that I might look into buying something now

How do ya know which college they'll go to?

I said to mine, stay at home and I'll pay you an allowance of £60 a week, use of car free food, continue to work at your part time job.

Nah! Would prefer to strip you of and cash you have please!

Good luck! Rent getting higher now too.

Eldest looking out to live in Belfast with friends, £500 each (3 of them) for a shit hole around the Lisburn rd areas!

That's the question, even the eldest isn't sure where she wants to go yet. One of the lads doesn't want to go to uni but that might change. With apprenticeships now in engineering & construction degrees there's some good options available too.

Living up there for a few years made me grow up but I paid my own rent and my grants and loans were less that 4 grand per year. J'town halls were around £75/month in 2000 and I paid 120 - 140/month in the Holylands the other 2 years. We were the 1st year that lost the 3k grants and fees came in the same year. I left with around 10k of dept which I had paid off in 5 years. Some difference in what they're looking at now for 3 years

[clonian]

440 a month isn't bad at all.

The buying the house thing definitely has some merit but anywhere in Belfast that's near the university costs a ludicrous amount these days. I imagine the same in any cities with universities.

I was looking yesterday after reading this and you can get a 2 bed around Stranmillis for 150/160 - up to 205 for a 3 bed. They were decent enough too - cheaper in other areas. You would think you'd sell on for a bit more in 10 years too. Ideally a couple of rents coming in from their mates would cover the mortgage but that's assuming everything works out

[LC]

440 a month isn't bad at all.

The buying the house thing definitely has some merit but anywhere in Belfast that's near the university costs a ludicrous amount these days. I imagine the same in any cities with universities.

I was looking yesterday after reading this and you can get a 2 bed around Stranmillis for 150/160 - up to 205 for a 3 bed. They were decent enough too - cheaper in other areas. You would think you'd sell on for a bit more in 10 years too. Ideally a couple of rents coming in from their mates would cover the mortgage but that's assuming everything works out

The deposit is the kicker, you would need 25% £35/£40k for the 2 bed in Stranmillis if purchasing as a BTL, use to be 15% years ago.  Fair play to anyone who has that sort of loose change about them.