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First time buey and more

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  • 28-07-2007 5:14pm
    #1
    frosty66
    Registered Users Posts: 46 ✭


    is now a good time for 1st time buyer to purchase in dublin?
    do u need planning permission for a conservatory & roughly how much do they cost?


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,280 Mod ✭✭✭✭The_Conductor


    frosty66 wrote:
    is now a good time for 1st time buyer to purchase in dublin?
    do u need planning permission for a conservatory & roughly how much do they cost?

    The market is falling at present- its highly likely that its far cheaper to rent than to pay mortgage interest on what an average house costs in Dublin at present. If you accept that you are purchasing a property for the long term, and are not put-off by falling asset values, then any time is good to buy. Keep in mind- you are buying a home to live in, not make a windfall when you go to sell it in many years time.

    Re: planning permission for a conservatory. Yes, you most certainly do need planning permission (depending on the size/aspect etc of the conservatory). The cost of a conservatory can vary greatly- but even the cheapest one will be several thousand Euro- for something thats a very tasteful extension of your living area you could expect to pay perhaps between 25 and 40k.

    S.


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    #3
    frosty66
    Registered Users Posts: 46 ✭frosty66


    thanks, dont care if house appreciates in value just fear making a loss, guess there are lots of people in the same situation just wondering when 2 bite the bullit!


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    #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,280 Mod ✭✭✭✭The_Conductor


    Well, you'll only make a loss if you try to sell it......
    If you factor in a longterm inflation rate of 3%- price stability is actually a 50% fall over a 15 year period.

    You probably can buy cheaper in the future than you can at present, but no-one can predict when the burst will bottom out.

    At the end of the day- if you are buying to put a roof over your head, asset price appreciation or falls should not factor into the equation- as the market will mirror whatever happens to your own house. Negative equity is a very distinct possibility for people- but inflation will even eventually take care of that.

    Personally if I was in the market for property at the moment- I would look at what my budget was- what my budget would buy, what the repayments would be, and were I to rent instead of buying a similar property- what would it then cost me. At present fundamentals are greatly in favour of renting- especially with further interest rate increases imminent.

    Shane


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    #5
    Victor
    Registered Users Posts: 78,349 ✭✭✭✭Victor


    frosty66 wrote:
    do u need planning permission for a conservatory
    Up to 40m3 should be OK, assuming you still leave a reasonable back yand and aren't too close to the neighbours and that it isn't a protected building.

    Building a squarish conservatory is probably the cheapest per m2 and building slight bigger may only cost a tiny bit more.


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