€317.5k for Navan or Arklow

Miss Judy

Hi all,

Just a bit head wrecked at the moment, ready to buy a house but we want to stay under the €317.5k as FTB's to avoid stamp duty and to have an affordable mortgage. Anyway, up until Monday, we were happy with our descision to move to Navan (johnstown area) had deposit paid and wheels in motion. Then hubbie tells me he is not to happy about moving there as he works on the southside and would be going from a current 15 minute commute to 1.30hrs each way. Here are our pros and cons:

Pro's Navan- family there to mind our 2 kids therefore saving over €1,500 per month on childcare. Lovely bungalow bought for €317.5k in Johnstown which seems like a lovely place to live for a young family.
Con's Navan- I work in town,hubbie is in Sandyford. I have a good chance of jobs up there so not worried about me having to commute as it won't happen if we do go. Son loves the school he is in and hate the thoughts of moving him, daughter in excellent (but expensive) creche & she will miss it. The N3 up to the Clonee bypass is dreadful. M50 toll bridge will cost €900 per year.

Pros Arklow- We can both stay in our current jobs, kids can stay in their school and creche and the N11 is a great road.

Cons Arklow-It's your normal 3 bed semi in Arklow amv €317.5k but estate agent said they have being going for €330k...I think that's too much for down there. I have never really liked the town but I would just get on with it for the sake of our happiness etc.

Any advice???

Lex Luthor

If it was me, I would stay put. I think your husband is also way off if he thinks he can get from Navan to Sandyford everyday in 90 mins. I recently drove from Clonee to the M50 at 730am and it took nearly an hour.

The FTB threshold for stamp duty might change in the budget next month so I wouldn't do anything at the moment. Besides, if you buy a new house, the stamp duty is minimal compared to a 2nd hand house, even if its above the threshold. I think last week I woorked out the SD on a new house for me and my wife valued at 600k would only be 10k'ish.

Miss Judy

I am afraid that if stamp duty is removed it might push the prices up again coz EA's are ruthless and they will think they can get more money out of FTB's coz we won't have to raise the stamp duty outside of the actual PP. So it's a hard descision to make, we need to get on the ladder and need our own family home but cannot get ripped off either and we could be worse off if we wait or worse off if we just go for it!!

Lex Luthor

Is the house you are looking at in Arklow not new? Is there any new builds that you can look at in your price range in the area?

Miss Judy

The house we are looking at is second hand (2 years old) and there are no new builds down there anymore. Something to do with sewrage regulations.
No new builds anywhere we like in our price range at all, we could pay more for a new build with no stamp duty but there is nothing there at all!!

Lex Luthor

if you don't like Arklow, then is there any point settling down there. Sounds like you & the hubby need to sit down and work it out between you both...nothing we suggest here is really going to make any difference to your decision in the end...best of luck

Sponge Bob

ye are mad even thinking of doing that commute , and ye with kids , when the housing market has stopped rising and cheaper houses nearer Dublin could come on stream next year. Whoever would trade 2.5 hours EVERY day of time with their kids for a few blocks and tiles and a 35 year mortgage has their priorites all wrong.

the boom is over , whether we get a crash or not I cannot really say but ye have nothing to lose by staying where ye are and seeing what happens.

I will predict no change in the budget.