Should we sell our house?

junii

Hi,
Were thinking of selling our house and buying a new one. Were just not happy with where were
living at the moment and want to move into a housing estate.

Is now the correct time to sell. I don't know much about the property market
but aren't the prices beginning to come down?

The question is if we sold our house now and rented for a year will prices be considerably
lower next year that we could save alot of money?

Also, if prices are coming down why would people buy now??? Is it a case of them not
knowing any better.

Thanks.

Sponge Bob

If you do not like where you live then sell out while houses are moving on the market, bank the profit.

As to when to buy?? , God knows. You told us nothing. I would personally not buy in the Pale now.

Rent is cheap and safe while you see what happens.

Afuera

junii wrote:

Hi,
Were thinking of selling our house and buying a new one. Were just not happy with where were
living at the moment and want to move into a housing estate.

Is now the correct time to sell. I don't know much about the property market
but aren't the prices beginning to come down?

The question is if we sold our house now and rented for a year will prices be considerably
lower next year that we could save alot of money?

Also, if prices are coming down why would people buy now??? Is it a case of them not
knowing any better.

Thanks.

The summer months are supposed to be very quiet for selling a house so now may not be the best time. It seems that around Dublin anyway a lot of hopes are pinned on the market picking up when the season begins this September.

It's anyone's guess as to what the price of houses will be in 12 months time though. It depends on the area, type of property you are looking to buy as much as anything.

The estate agents have been very quick to call a "soft landing" as it shifts towards becoming more of a buyers market. If people believe that it's a soft landing rather than an all out crash, then they might be willing to buy in a falling market.

Lex Luthor

I would sell in Aug and rent for a few months and then try buy around xmas or new year if thats not too much of an inconvenience as you normally find that time of year things are slow

junii

Lex Luthor wrote:

I would sell in Aug and rent for a few months and then try buy around xmas or new year if thats not too much of an inconvenience as you normally find that time of year things are slow

Just to say I don't live in Dublin. I live in a fairly prosporous commuters town though with many new housing developments. We haven't got our house valued yet but I would estimate it would be worth between 220k and 300k. Id like to sell for that and then in the future hopefully get a 3 bed semi or something for 190 -200k.


Lex: Why would August be a good time to sell over say Sept. or even this month (July)? Don't things usually pick-up in September? ie. I could get a better price.

Also. I wouldn't mind renting for over a year if I was fairly confident of making significant savings...

So is Xmas time the best time to buy a house then... Is it even better than say the summer which ive learnt seems to be quite slow also.

Supercell

junii, opinions on this topic are very polarized, especially between home owners and non homeowners.

The market right now is not the same as a couple of years ago, some people strongly believe the soft landing is on and that prices from here on will just rise slowly matching inflation , whilst others believe a crash is imminant.

I'm at one end of the spectrum, but tbh, its your home and your decision, your bank will not give you an unbiased opinion, neither will your estate agent.

I'd recommend reading up on the web on forums like here and on askaboutmoney.com too and making your own mind up what is realistic for your area, different areas will be more vunerable to market shifts than others for various reasons.

Read read read, understand that people often have views that are black and white on this topic with no in between.

I suppose the best advise is to look at what the big investors are doing, these people have no room for sentiment and act with their feet - read on the various news sites about what big property owners are doing in Ireland at the moment, especially in areas like yours, are they buying up huge tracts of land in places like that or are they selling huge amounts ?

Its your money and your decision at the end of the day, make your mind up after reading up about it, sleep on it and if you feel the same way the next day then take action, best of luck

junii

Longfield wrote:

junii, opinions on this topic are very polarized, especially between home owners and non homeowners.

The market right now is not the same as a couple of years ago, some people strongly believe the soft landing is on and that prices from here on will just rise slowly matching inflation , whilst others believe a crash is imminant.

I'm at one end of the spectrum, but tbh, its your home and your decision, your bank will not give you an unbiased opinion, neither will your estate agent.

I'd recommend reading up on the web on forums like here and on askaboutmoney.com too and making your own mind up what is realistic for your area, different areas will be more vunerable to market shifts than others for various reasons.

Read read read, understand that people often have views that are black and white on this topic with no in between.

I suppose the best advise is to look at what the big investors are doing, these people have no room for sentiment and act with their feet - read on the various news sites about what big property owners are doing in Ireland at the moment, especially in areas like yours, are they buying up huge tracts of land in places like that or are they selling huge amounts ?

Its your money and your decision at the end of the day, make your mind up after reading up about it, sleep on it and if you feel the same way the next day then take action, best of luck

Thanks Longfield. Can you just clarify? When you said soft landing you said prices will RISE slowly matching inflation... Surely you mean slowly?

If there was a market crash, what in your opinion would happen and what would cause this? Also, how is everyone so unsure of whats going to happen?

Supercell

junii wrote:

Thanks Longfield. Can you just clarify? When you said soft landing you said prices will RISE slowly matching inflation... Surely you mean slowly?

If there was a market crash, what in your opinion would happen and what would cause this? Also, how is everyone so unsure of whats going to happen?

junii, I have stong views on this topic and am not a property owner and would hate to think my advice made someone else made big financial decisions based on my armchair opinion.

junii, i'd suggest reading up on any news articles specific to your areas and then maybe posting to askaboutmoney.com (people there are more focused on money matters than the average boards reader), as I said. i've strong opinions on this topic but as a non home owner am not in the same situation as you so have a totally different perspective which may not be the best for you,...but read read read read!!

Make your own mind up, internet opinions are just that, i could be 14 or 40 typing this...so best you make your own mind up.

iguana

junii wrote:

The question is if we sold our house now and rented for a year will prices be considerably lower next year that we could save alot of money?

In fairness no-one can answer this question for you. The best anyone can do is make an educated guess, and this will be most likely influenced by their own desires of what they'd like to see happening.

Supercell

junii wrote:

Thanks Longfield. Can you just clarify? When you said soft landing you said prices will RISE slowly matching inflation... Surely you mean slowly?

If there was a market crash, what in your opinion would happen and what would cause this? Also, how is everyone so unsure of whats going to happen?

To these questions, look at what the big property owners and investors are doing, the market will follow their sentement.

This post from AAM is one I like a lot, again its just one posters opinion at the end of the day :-

http://www.askaboutmoney.com/showthread.php?t=29615&page=30

"I love the image here; estate agents/bankers/builders etc. down one end of the pool shouting "the waters fine come on in!" while climbing out slowly, half way down some investors scrambling out while others are staring at them like they're mental and a few boatloads of ftbs at the other end wondering what the hecks going on while loads more on the sidelines saying "no fecking way i'm getting in there"!."