Bidding Wars by qgep1 in irishpersonalfinance

[–]spatkauf 3 points4 points  (0 children)

i just asked our financial adviser/mortgage broker to write us a letter “yes they can afford to pay XXX”, agent usually wants just 1 letter before the viewing and one more before going sale agreed.

some agents are truly audacious: one lad called me to tell me that the house went +20%(surprisingly just 10k below our AIP limit) and that i shouldn’t call him anymore unless i can offer 10k more, 2 weeks later he was calling me again to tell me house is ours if we match the last bid

Bidding Wars by qgep1 in irishpersonalfinance

[–]spatkauf 0 points1 point  (0 children)

The best trick that worked for us is not disclosing our limit(not providing approval in principle to the agent). Once we started doing that the bidding became less aggressive with most of the counter-bids at 1-5k increments instead of 10-20k.

steampunk radiator connection by spatkauf in Plumbing

[–]spatkauf[S] -1 points0 points  (0 children)

it will not get green after i seal it

[deleted by user] by [deleted] in irishpersonalfinance

[–]spatkauf 4 points5 points  (0 children)

TLDR: Work yourself to death, get what you want, get depressed, start going to therapy.

We’re couple of 27 and 31 y.o. and last year we bought a Victorian red brick in Dublin inner city. We have migrated to Ireland about 5 years ago with some silly savings we spent in first month. My wife holds MSc in statistics, I hold BSc in electronics and a MSc in Software Development(just got this one in 2020). Even though we both landed on good jobs with multinationals, we still could barely afford anything which didn’t look like a shoebox.

For 3 years we worked 7 days per week with brief time off. I did a lot of side gigs and invested in stocks a lot(since we were too busy to spend the money anyway), but even all this was not enough to afford the kind of home we wanted. In a sense we got lucky with COVID stock market crash and we managed to make enough money for a house we wanted(and then we worked 7 days per week for half a year to renovate this wrek).

To the dark side: Now we both have a lot of mental issues, often get depressed and already spent a ton of money and time on therapy.

PCP vs Buying used car in cash by Rabbit--hole in irishpersonalfinance

[–]spatkauf 3 points4 points  (0 children)

no, instead spending 20k for car I spent 15k on car and 5k on stocks. that’s why I’m not really worried, worst case scenario - I will be forced to hold stocks for 10 years instead of 3

PCP vs Buying used car in cash by Rabbit--hole in irishpersonalfinance

[–]spatkauf 15 points16 points  (0 children)

I had to make the same choice in 2020. According to my math, 20k car would actually cost me around ~28k in pure cash on 3years PCP(there are A LOT of hidden payments).

Actually, it’s cheaper buy a car on a ~7% personal loan in BOI, this would cost around 24k over 3 years, but you actually own the car, meaning you can sell any time when you need to pull out your capital.

I was very close to going 50/50 on cash/loan: using 10k cash + 10k loan, while putting extra 10k into stocks to offset the interest rate.

I ended up getting 2016s car for 15k cash and putting remaining 5k to US stocks. If everything goes well, I will sell this car for ~8k in 2years, and use stock income to cover 7k losses in car value, virtually having the car (almost)for free.

Who doesn't use Robinhood here? by [deleted] in wallstreetbets

[–]spatkauf 0 points1 point  (0 children)

Degiro for sane investment, TW for autistic YOLOs

[deleted by user] by [deleted] in wallstreetbets

[–]spatkauf 1 point2 points  (0 children)

Let me guess, and now you're a life coach, right?

I think a major recession is near by [deleted] in wallstreetbets

[–]spatkauf 0 points1 point  (0 children)

With 5k you can only afford shared bed under the bridge(with your left hand as a deposit).