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Struggling to find an affordable apartment....help??

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  • 03-03-2015 12:26am
    #1
    jayjay2010
    Registered Users Posts: 505 ✭✭✭


    Hey guys

    Recently for mortgage approval. With my deposit + loan my budget would be for a 2 bed apartment up to 150k. I am buying solo.:pac:

    ...It seems that just 4/5 months ago I could've bought an apartment in Tallaght/Saggart for just over the 100k mark.....now I'm struggling to find anything half decent for under 150k. Every place I ring there are offers 5-10k over the asking price. Daft and Myhome don't seem to update their properties as 90% of the ones I inquire about are sale agreed.

    ...So what's the story?? Is this a bad time of year to buy? I appreciate many people are in the same position as me but as a 1st time buyer I thought I'd have a least a couple of options open to me for less than 150k.

    I'm not that picky and I would consider most places in West Dublin, but as a first time buyer I'm not very experienced in this and I'm afraid to look foolish for not offering way more than the advertised asking price.

    I'm worried that if I wait any longer I won't be able to find a place at all and will be forced to continue renting for years....

    Can anyone advise?

    Thanks!
    Jason
    Tagged:


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    #2
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Buying an apartment that far out... not the smartest decision IMHO but it's your money.

    Keep checking myhome and daft. You'll do a lot of untamed aquatic foul pursuits to start with but then you'll start to workout what new to the market. You'll also figure out when you're being told porkies by EAs.

    There is upward pressure on apartment prices but I'm surprised you're having an issue that far out. Would you not consider a one bed in the city centre? At least you'd have something rentable if needed.

    Getting plenty of properties with a Max 125K, whole Dub search (min two bed). Any reason you wouldn't go for any of the myriad of houses that pop up? (loads in D24)


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    #3
    jayjay2010
    Registered Users Posts: 505 ✭✭✭jayjay2010


    MarkAnthony wrote: »
    Buying an apartment that far out... not the smartest decision IMHO but it's your money.

    Keep checking myhome and daft. You'll do a lot of untamed aquatic foul pursuits to start with but then you'll start to workout what new to the market. You'll also figure out when you're being told porkies by EAs.

    There is upward pressure on apartment prices but I'm surprised you're having an issue that far out. Would you not consider a one bed in the city centre? At least you'd have something rentable if needed.

    Getting plenty of properties with a Max 125K, whole Dub search (min two bed). Any reason you wouldn't go for any of the myriad of houses that pop up? (loads in D24)

    The majority of the apartments that I am looking to view are sale agreed and no more viewings available.

    I would consider a 1 bed but my bank will only give me 75% of the value of the property so I wouldn't have enough deposit to make up the difference.

    When I started saving for an apartment I had the 100-100k figure in mind as there was a lot of places at that price. But now it seems like €150 isnt enough for the exact same properties as just 4/5 months ago. Very upsetting.

    I wouldn't mind renting but the cost is just unreasonable. Out last place shot up in price after a year so we had to move out.


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    #4
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    If I was buying out there I'd be looking at a house, same in D15, there are houses within your budget. May I ask if you've counted out a house completely and why if I can pry?


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    #5
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    An old Ad I grant you - probably more backing up what you were saying but for what it's worth:

    http://www.myhome.ie/residential/brochure/7-annaly-court-ongar-dublin-15/3006012

    My brother-in-law lives there, never had any bother.


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    #6
    Rachiee
    Registered Users Posts: 880 ✭✭✭Rachiee


    I'd definitely look at houses, you grow into them better if you can't sell and end up living there for life. They are easier to sell if and when the time comes, and you don't have to worry about management fees. Houses still go cheap in a lot of areas in Dublin and you might even get a garden where you can dry clothes or keep a pet.


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    #7
    Eldarion
    Registered Users Posts: 484 ✭✭Eldarion


    jayjay2010 wrote: »
    I'm worried that if I wait any longer I won't be able to find a place at all and will be forced to continue renting for years....

    You're buying out of panic. I can assure you anybody in negative equity who bought in 2006-2008 would they rather have just accepted they had been priced out, rented for another 4 years and bought at the low time during 2012/2013.

    The idea that "Prices can only go up" should well and truly be put to bed at this stage.


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    #8
    jon1981
    Registered Users Posts: 4,359 ✭✭✭jon1981


    Will i lose all credibility for posting this :D

    race-to-buy-before-summer-will-spike-house-prices

    Don't add to the spike OP!!


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    #9
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Dublin 15 YOU should pick up a property with the shopping centre near by your set


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