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  • 18-07-2006 8:50pm
    #1
    orbital83
    Registered Users Posts: 210 ✭✭


    At the end of last year I was on the verge of exchanging contracts on a house in Mullingar but pulled out at the last minute, for a multitude of reasons. Houses on this road are now on the market for 25% more....

    Anyway, since then I haven't really been looking much at property, but tomorrow I'm going to view a small house in Mullingar.
    If I was to buy there I would be commuting to work in Dublin city centre daily.

    I've heard several people here saying that commuter towns will be very vulnerable should there be a downturn in property prices.
    Personally I would have thought a 10 mile radius of Dublin would be the most vulnerable, as prices there are presumably the most inflated?

    I would be pretty stretched if I did by the house - would need my max mortgage + another 30k of my own funds. So I would obviously rather not lose the 30k which took the last 12-18 months to save!!

    Would like your opinion as to whether buying somewhere like Mullingar at the moment would be a wise move? Or would you just hold off and continue saving?


Comments

  • #2
    Bluehair
    Registered Users, Registered Users 2 Posts: 1,336 ✭✭✭Bluehair


    You need to ask yourself a few questions and you'll be able to make a better decision for yourself.

    Why are you buying?
    Why do you need to buy now?
    Why are you buying in Mullingar?


  • #3
    iguana
    Registered Users, Registered Users 2 Posts: 12,917 ✭✭✭✭iguana


    I think the main question is;

    How long is the commute and how much will your quality of life suffer by travelling that distance 10 times a week?

    I'm all for buying your own home, but not at a massive expense to your life.


  • #4
    अधिनायक
    Closed Accounts Posts: 194 ✭✭अधिनायक


    The M4 and Lucan road upgrades and improved rail access will help (if they get finished before the money runs out).
    Large oil price rises would not be good.
    There is a possibility that housing supply in Dublin will eventually exceed demand given higher densities and the rate at which houses are being built. At this point nobody will want to commute from Mullingar. I can't see how a daily 4/5 hour commute is worth it just to have a larger space to live in.


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