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Buying a property

  • 05-12-2005 11:24am
    #1
    jamescrombie
    Closed Accounts Posts: 189 ✭✭


    Is it best to wait till January

    There isnt much out there at the moment... is that because of christmas that everything is quiet...

    what do people recomend??


Comments

  • #2
    Culchie
    Registered Users, Registered Users 2 Posts: 5,047 ✭✭✭Culchie


    Is this an investment property ...if so, I'd advise caution, as it is not a very liquid asset if you want to sell at a time that you can choose.

    However, if it's for a home, and you're in it for the long haul, then in the long run (20/30 years) then I think you should look around now.

    The market is extremely 'hot' at the moment, especially first time buyers market.

    With christmas out of the way, a 'giveaway' buget coming up, 100% mortgages and SSIA's maturing, and supply not meeting demand the market is going to keep increasing in the short term.


  • #3
    jamescrombie
    Closed Accounts Posts: 189 ✭✭jamescrombie


    Its a home but would be hoping to sell in 7-9 years....

    I really wanna get my foot on the property ladder....

    Is december usually quiet for propertys


  • #4
    luckat
    Closed Accounts Posts: 5,366 ✭✭✭luckat


    If you're buying a first home and hoping to sell in a few years, go for any tax breaks you can get. I don't know what they are at the moment, but there's usually breaks for things like newly-built apartments in the city centre. Others can clarify.

    The tax breaks, including stamp duty breaks, take a few thou off the price, and make a huge difference to your repayments.


  • #5
    Beruthiel
    Moderators, Social & Fun Moderators Posts: 42,362 Mod ✭✭✭✭Beruthiel


    the advantage to buying now is that you probably won't have too many people bidding against you with christmas coming up, that would certainly be a plus for you


  • #6
    Culchie
    Registered Users, Registered Users 2 Posts: 5,047 ✭✭✭Culchie


    jamescrombie wrote:
    Its a home but would be hoping to sell in 7-9 years....

    I really wanna get my foot on the property ladder....

    Is december usually quiet for propertys

    I've just gone 'sale agreed' on my house at the weekend, and I can assure you that the market is very hot indeed, so if it is for a home, and won't be materially affected by any possible 'blip', I think you should move now.


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  • #7
    Moonbeam
    Moderators, Education Moderators, Society & Culture Moderators Posts: 18,986 Mod ✭✭✭✭Moonbeam


    Once you see what you want go for it,
    Decide location,
    Have your mortgage approved in principal or at least know how much they will give you,
    New or second hand?

    Happy searching:)


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