New Houses-Excellent deals....

TillyT

Ive been looking to buy since before the recession and was lucky enough to come across a gem ....
Just purchased a 3 bed semi in Fair green park Mullagh Co.Cavan - on the Meath border!
€180,000 and I even got the following included.....
Tiling
Timber flooring in the sitting Room
Integrated appliances (Fridge Freezer, dishwasher, washing machine, Dryer, oven and hob)
Shower door and bath screen in chrome
Toilet accessories
1 fill of Kerosene heating oil
side gate
Oil condenser boiler

Now to the people here that are saying hold on wait they'll come down more and more....... I think your waiting for something thats not going to happen and I dont think you can get a better bargin than that......

martian1980

TillyT wrote: »

Ive been looking to buy since before the recession and was lucky enough to come across a gem ....
Just purchased a 3 bed semi in Fair green park Mullagh Co.Cavan - on the Meath border!
€180,000 and I even got the following included.....
Tiling
Timber flooring in the sitting Room
Integrated appliances (Fridge Freezer, dishwasher, washing machine, Dryer, oven and hob)
Shower door and bath screen in chrome
Toilet accessories
1 fill of Kerosene heating oil
side gate
Oil condenser boiler

Now to the people here that are saying hold on wait they'll come down more and more....... I think your waiting for something thats not going to happen and I dont think you can get a better bargin than that......

Can't get a better bargain than that? how about if you could get it for 150k? is there a valid reason why the price simply can't come down anymore? has the demand for these houses meant that there are people queueing up to pay 180k and therefore the prices are at a level that allow them to clear?

gazzer

Congraulations TillyT on your purchase. I am living in Cavan also but am still going to rent for the foreseeable future. Im looking for a 4/5 bed detached. Have seen some lovely houses but I am happy where I am at the moment as it is only a 20 minute walk to work and after many years of doing 90 minute commutes into work it is a godsend. Id say by this time next year though I will start looking properly for my dream home..

I was down at a new housing estate in Ballinagh (about 10Km from Cavan town) on Sat and there were 3 bed semi detached houses with all furniture and fittings going for 145,000. Are you going to be commuting TillyT from Mullagh or are you working in the area?

Macha

Will you be commuting to Dublin every day?

chahop

Wow. That is an excellent deal. Do you have a link, where i can get further info. I want to bag one of these babies before there gone.

merlynthewizard

you have to be insane to buy a house now

FGR

Well done, OP. Sounds like a great buy. I'm not going to enter the market due to it's current trend but it's great to see the odd gem being bought at a fair price.

I wonder will I ever be able to buy a detached house in East Cork for 200k? Eh?

Firetrap

It was all going so well til the OP posted this gem

Now to the people here that are saying hold on wait they'll come down more and more....... I think you're waiting for something that's not going to happen and I don't think you can get a better bargain than that......

If the OP has bought a house, good for them. Just bear in mind that Cavan is different.

ronbyrne2005

Sounds like a shill.

grizzly

You had me at toilet accessories.

pipsqueak

phooooar, house porn keep it commin boys!

wyndham

grizzly wrote: »

You had me at toilet accessories.

Wtf is a toilet accessory? Is that a jacks-roll holder?

blah

wyndham wrote: »

Wtf is a toilet accessory? Is that a jacks-roll holder?

First one in Cavan I heard.

niceirishfella

TillyT wrote: »

Now to the people here that are saying hold on wait they'll come down more and more....... I think your waiting for something thats not going to happen and I dont think you can get a better bargin than that......

errrrm, yes. There are house's in Bailieborough, Cavan (not far from the Meath Border too) for sub €150k.:)

TillyT

Hi Gazzer, thanks a mil really delighted to have got such a deal in these times ya ive had the handiness to work and now its time to change - so fingers crossed! I will commute - ive talked to some of the neighbours in the estate and most of them seem to commute and have assured me its grand and with the new M3 and rail links being put in place - i think (and hoping) ive made the right choice! I didnt look any further towards Cavan town than Mullagh as I had originally looked in Kells and the deal i was getting was just not as good as this! if i didnt have to work in Dublin - 145,000 sounds excellent!
Isn't it great to be finally able to find affordable houses

So do you think that by waiting til this time next year you'll be getting a better deal? Im of the idea that prices wont reduce by too much more?

TillyT

LOL - rather than write all the extras out i just copy and pasted them in and im gettin awful abuse over them

Toilet accessories unfortunately isnt any games or anything - the usual bits - toilet and towel holders, mirror etc....which all messing aside does save me few pennies!

Im interested in everyones mixed opinions on whether we were right to buy now or wait....I have waited a good few months and there has been drastic changes since i first started looking so maybe thats why I felt I have received such a good bargin....dont know if they can go too much lower as i suspect to build a house with all these extras couldnt cost much less??

gurramok

Did you have a look at the N3 just past Clonee this morning Dub bound and last night?

It was jam packed, 45min delays. The rail line is only going to Dunboyne, 2010 its supposed to be running. No rail line to Navan for years yet.

wrote:

Im of the idea that prices wont reduce by too much more?

Why?

Good luck at the commuting assuming its not a helicopter.

AARRRGH

Well done for buying, and I hope you like your house, but personally I would not commute from Cavan, even if I got the house for free.

carlowguy32

I bought last august for €190,000, no 'toliet accessories' or shower door, no flooring but did have the kitchen appliances and solicitors costs paid. The flooring set me back about €5,000 so op you did much better than me, im now thinking if I held out abit longer so I wonder will you be thinking the same next year

DJDC

Commuting long distances is a disaster in the medium to long term. Oil prices are low now but most analysts see significant price rises in the future with a resulting crunch on distillates like petrol.Places like Cavan just dont have the job creation/density to support the significant house building that has been undertaken in the last 10 years due to rampant rezoning by corrupt councillers.The end result is a large amount of people commuting 40+ miles to Dublin everyday on clogged roads. In my opinion, the real wealth destruction will take place in these outer commuter areas that have grown rapidly in that last decade or so. Over reliance on fossil fuels, lack of local amenities, lack of local industry all mean these houses could be significantly cheaper in a few years.

Anyone with some logic can tell you buying ANY house in Cavan at current prices when you're job in is in Dublin is not a good idea. Its too late for you, but hopefully others wont make the same mistake.

TillyT

carlowguy32 wrote: »

im now thinking if I held out abit longer so I wonder will you be thinking the same next year

This is what I had in mind when creating this thread but I wanted a home and sick of renting so just decided to go for....do you feel that at least you have a home for the last yr and the money you spend is going into that?
Also If we look at the reductions in the last yr - they have been huge and I just couldnt see that they will reduce by the huge amounts they have in the last yr!

gurramok, aarrrgh........so negative....its about a good home life aswell as work! different strokes for different people! i havent moved down there yet - just bought!

CiaranC

Best of luck in your new home. Rather you than me though.

ntlbell

TillyT wrote: »

So do you think that by waiting til this time next year you'll be getting a better deal? Im of the idea that prices wont reduce by too much more?

Delighted on your purchase it's great to see people getting a bargain.

Now, on to more pressing matters.

Can you explain your thoughts on why the prices won't reduce by much more?

ntlbell

TillyT wrote: »

This is what I had in mind when creating this thread but I wanted a home and sick of renting so just decided to go for....do you feel that at least you have a home for the last yr and the money you spend is going into that?

A vast majority of their payments are going to the bank in interest.

ZYX

TillyT wrote: »

LOL - rather than write all the extras out i just copy and pasted them in and im gettin awful abuse over them

Toilet accessories unfortunately isnt any games or anything - the usual bits - toilet and towel holders, mirror etc....which all messing aside does save me few pennies!

Im interested in everyones mixed opinions on whether we were right to buy now or wait....I have waited a good few months and there has been drastic changes since i first started looking so maybe thats why I felt I have received such a good bargin....dont know if they can go too much lower as i suspect to build a house with all these extras couldnt cost much less??

Oh TillyT, don't do it. I am all for people finding bargains but this is not one of them. From what you are saying you are buying this house not because you want to live there but because you can afford to live there. Frankly that is a silly way to buy a property. Lets face facts does anyone want to live in Cavan if they work in Dublin. You are facing 4hrs a day commutes (to city centre), that's 20hrsa a week

carlowguy32

ntlbell wrote: »

A vast majority of their payments are going to the bank in interest.

this is true, but you have to look at the point would I even get a mortgage next year, if I was renting that money would be dead money anyway, I was waiting to buy for 5 years before this year and though I was getting value for money in august, there are so many factors to consider, I think if you see a house you like and its not just for investment purposes you are buying then you should just go for it

ntlbell

carlowguy32 wrote: »

this is true, but you have to look at the point would I even get a mortgage next year, if I was renting that money would be dead money anyway, I was waiting to buy for 5 years before this year and though I was getting value for money in august, there are so many factors to consider, I think if you see a house you like and its not just for investment purposes you are buying then you should just go for it

Why wouldn't you get a mortgage next year? if they gave you 180k

and prices continued to fall at 10-12% a year and the price fell to 148k

you saved yourself 32k + interest payments - rent and would be applying for a much smaller mortgage?

rent money is no more dead money than the interest payments it goes to the bank not off the house.

if the rent is cheaper than the interest how is it dead? considering the price of the property is falling?

so you saving the money on interest payments + the drop?

rent money doesn't sound dead in that case, sounds like a canny mc savvy move from county canny

ntlbell

ZYX wrote: »

Ocommutes (to city centre), that's 20hrsa a week

which means you spend 43 days a year in a car :eek: what a bargain

carlowguy32

ntlbell wrote: »

Why wouldn't you get a mortgage next year? if they gave you 180k

and prices continued to fall at 10-12% a year and the price fell to 148k

you saved yourself 32k + interest payments - rent and would be applying for a much smaller mortgage?

rent money is no more dead money than the interest payments it goes to the bank not off the house.

if the rent is cheaper than the interest how is it dead? considering the price of the property is falling?

so you saving the money on interest payments + the drop?

rent money doesn't sound dead in that case, sounds like a canny mc savvy move from county canny

ok those are good points, but i was waiting 5 years already, time was running out for me as Im well into my thirties, i was in a council house with my partner and had enough of it and wanted to get out, if I had been renting I would'nt have saved that much, kids were starting school and didnt like the area I was in so the time was right for me, each case is different i suppose

meesa

TillyT wrote: »

Im interested in everyones mixed opinions on whether we were right to buy now or wait....I have waited a good few months and there has been drastic changes since i first started looking so maybe thats why I felt I have received such a good bargin....dont know if they can go too much lower as i suspect to build a house with all these extras couldnt cost much less??

Ok ....we are on a train track...the train is comin` ...you can see it in the distance....everyone is screamin` "get off the track"....but you still decide to pitch your tent on the track. Maybe the train will explode before it hits you..wishful thinking.
:rolleyes:
On the other hand if this is a genuine post, best of luck in your new home.

ntlbell

carlowguy32 wrote: »

ok those are good points, but i was waiting 5 years already, time was running out for me as Im well into my thirties, i was in a council house with my partner and had enough of it and wanted to get out, if I had been renting I would'nt have saved that much, kids were starting school and didnt like the area I was in so the time was right for me, each case is different i suppose

Time was running out for what?

Why didn't you move and rent somewhere else?

you're saying if the drops continued and the house dropped 32k you would of spent more than 32k+ interest to a bank in rent?

what were you renting? a president sweet in the gresham?

seamus

TillyT wrote: »

Im interested in everyones mixed opinions on whether we were right to buy now or wait.

If you wanted a house now, you can afford the mortgage, have a reasonable secure job and you don't see yourself selling it for at least five, preferably ten years, then there was no reason not to buy now.

However, if you've crippled yourself with debt or are planning to move in the short to medium term, you may be in trouble.

There will always be naysayer who say that you're wrong to buy property, simple as. You might have saved €20k by waiting another year, but you may have not. Nobody has a crystal ball.

ZYX

seamus wrote: »

If you wanted a house now, you can afford the mortgage, have a reasonable secure job and you don't see yourself selling it for at least five, preferably ten years, then there was no reason not to buy now.

However, if you've crippled yourself with debt or are planning to move in the short to medium term, you may be in trouble.

There will always be naysayer who say that you're wrong to buy property, simple as. You might have saved €20k by waiting another year, but you may have not. Nobody has a crystal ball.

The problem is not the fact that the OP is buying. In many situations and many places it could be a very good time to buy. This place is not one of them. According to 2002 census Mullagh had a population of 940 which equates to about 300 houses. Today Daft has 112 properties for sale in Mullagh. There is no local base to buy these houses. Properties in places like Mullagh have only one way to go and that is down by a huge amount

seamus

But money aside, maybe she wants to live in Mullagh? Maybe she thinks she could stay in this 3 bed for 20 years? What's the issue then? The money is largely irrelevant in that case.

ntlbell

seamus wrote: »

If you wanted a house now, you can afford the mortgage, have a reasonable secure job and you don't see yourself selling it for at least five, preferably ten years, then there was no reason not to buy now.

However, if you've crippled yourself with debt or are planning to move in the short to medium term, you may be in trouble.

There will always be naysayer who say that you're wrong to buy property, simple as. You might have saved €20k by waiting another year, but you may have not. Nobody has a crystal ball.

do you need a crystal ball at the moment? would some research into the biggest purchase that could shape the rest of your life not be given some more consideration than gut feeling?

a bit of research and looking at current trends should give you some sort of indication.

buying a property because you think you're getting a bargain that's given you a 20 hour a week commute without any real research and basing the buy on a "hunch" that things won't get worse when everything seems to suggest it will is nothing short of madness.

the empties are growing, unemployment is rising banks etc etc no one's nay saying for the sake of it.

ntlbell

seamus wrote: »

But money aside, maybe she wants to live in Mullagh? Maybe she thinks she could stay in this 3 bed for 20 years? What's the issue then? The money is largely irrelevant in that case.

no one _wants_ a 20 hour a week commute, some put up with it.

carlowguy32

ntlbell wrote: »

Time was running out for what?

Why didn't you move and rent somewhere else?

you're saying if the drops continued and the house dropped 32k you would of spent more than 32k+ interest to a bank in rent?

what were you renting? a president sweet in the gresham?

time is running out to get a mortgage, i dont want to still paying for one in my 70's

ntlbell

carlowguy32 wrote: »

time is running out to get a mortgage, i dont want to still paying for one in my 70's

but wouldn't saving 30-40k on the price of the house reduce the time you spend paying it back?

what's quicker to pay back? 180k from 2007

or 142 from 2009?

seamus

ntlbell wrote: »

do you need a crystal ball at the moment? would some research into the biggest purchase that could shape the rest of your life not be given some more consideration than gut feeling?

a bit of research and looking at current trends should give you some sort of indication.

Well this is the thing. When the market was going up, everybody could say with reasonable confidence that prices were going up, and they'd still be up next week, and the week after that and next month too. But nobody could tell you where they'd be next year. Some people would be bullish and tell you that of course they'd be up again. Others wouldn't be so sure.

Now replace the word "up" in my paragraph above with "down", and you have our current situation. I'm not saying that it's likely that we're going to be back in boom town this time next year, but I certainly wouldn't put any money on prices still spiralling down like they are now.

You'd be surprised how much trading goes on based on hunches. Stockbrokers by and large know their market, but most of what goes on is educated guessing and leading from hunches. The very nature of these markets is that nobody can say for sure what's going to happen, they can only infer from experience and then put their guesses out there.

The extreme volatility of the banks shares recently demonstrates that there are a lot of stockbrokers out there who are just making guesses and giving conflicting opinions all over the place. But then that's been going on since stocks were invented.

There is only so much research one can do, and ultimately when the outcome is unknown, your primary decision will always be based on your gut feeling.

ntlbell

seamus wrote: »

Well this is the thing. When the market was going up, everybody could say with reasonable confidence that prices were going up, and they'd still be up next week, and the week after that and next month too. But nobody could tell you where they'd be next year. Some people would be bullish and tell you that of course they'd be up again. Others wouldn't be so sure.

Now replace the word "up" in my paragraph above with "down", and you have our current situation. I'm not saying that it's likely that we're going to be back in boom town this time next year, but I certainly wouldn't put any money on prices still spiralling down like they are now.

You'd be surprised how much trading goes on based on hunches. Stockbrokers by and large know their market, but most of what goes on is educated guessing and leading from hunches. The very nature of these markets is that nobody can say for sure what's going to happen, they can only infer from experience and then put their guesses out there.

The extreme volatility of the banks shares recently demonstrates that there are a lot of stockbrokers out there who are just making guesses and giving conflicting opinions all over the place. But then that's been going on since stocks were invented.

There is only so much research one can do, and ultimately when the outcome is unknown, your primary decision will always be based on your gut feeling.

Of course, no one can be certain you can only go on the information you have today and the information we have today suggests the fall's are to continue this doesn't guarantee that they will but it's the only information we have is today's and today it looks like you should wait, tomorrow is of course unknown.

I'm sure there's millions won and lost on hunches all the time I don;t think it's an argument for buying a house on one when that hunch is clearly going against every sod of evidence we have _today_

when you're paid very high wages to sometimes take risks and hunches is one thing, average joe taken a risk on what could shape the rest of their life, kids life and quality of said life is a completley different ball game.

oceanclub

The fact is that anyone buying a house in a rural area at the moment will likely never be able to trade it up. Never. Rural Ireland is full of ghost estates; a glut of 100,000 houses that are simply empty. If you'e buying a house you're happy to live in, fine, but having experienced a 21-hour a week commute for 5 years that ruined my health, I wouldn't recommend it.

P.

gurramok

Mullagh is in the middle of nowhere. If the OP even bought in a main town like Navan/Kells. there might be some comeback with facilities etc, but Mullagh, its like Ballivor!

I'd buy one of them as a holiday home if they were 50k

If your try hard enough you could probably buy a one bed apartment in Dublin for 200k ...you'd have no commuting costs...... nor the stress of commuting

ntlbell

mariaalice wrote: »

If your try hard enough you could probably buy a one bed apartment in Dublin for 200k ...you'd have no commuting costs...... nor the stress of commuting

why when you can have a 3 bedroom apartment in ballymun for 130k?

staker

Congrats OP, all the best in your new home!
I'll refrain from all the negativity.
What you gonna do?
Decide in the morning-"oh f***,they're right,i'm after being done. That's it for me!" and sling a rope over the nearest rafter??
You should be applauded for getting on with it and f*** the begrudgers.
Best of luck and many years of happiness!

oceanclub

staker wrote: »

Congrats OP, all the best in your new home!
You should be applauded for getting on with it and f*** the begrudgers.

Why would anyone begrudge a 20 hour a week commute?

Sorry, but this obsession with buying a house over all other concerns including money, your health or the time left to spend with your children is why this country is now so ****ed up.

P.

BobbyD10

staker wrote: »

You should be applauded for getting on with it and f*** the begrudgers.
Best of luck and many years of happiness!

I wouldn't call it begrudging to be honest, now I haven't commented on said purchase above, I would think people are giving their opinion more than anything.

A commute of 20 hours a week dosen't appeal to all/most and I would have to agree after a 9-5 day the last thing I could face would be two hours in the car.

Anyway different people will make different decisions based on their own individual circumstance. And the OP has welcomed both positive and negative feedback which is great.

Good luck with new home and I hope it works out for you.

ntlbell

staker wrote: »

Congrats OP, all the best in your new home!
I'll refrain from all the negativity.
What you gonna do?
Decide in the morning-"oh f***,they're right,i'm after being done. That's it for me!" and sling a rope over the nearest rafter??
You should be applauded for getting on with it and f*** the begrudgers.
Best of luck and many years of happiness!

can you quote one poster who begrudges her buying a house in the back end of no where with a 20 hour a week commute to dublin?

it's not exactly something people would be envy of

staker

yeah sorry lads/lassies, the begrudgers bit was OTT.
It's just this negativity is really beginning to rile me.Everywhere I turn these times it's "the downturn this" "the recession that".
In hindsight most a lot of what i had misconstrued as "begrudgery" is in fact constructive in it's own right,I just wanted to congratulate the OP and wish him/her the very best.

johnnyskeleton

seamus wrote: »

If you wanted a house now, you can afford the mortgage, have a reasonable secure job and you don't see yourself selling it for at least five, preferably ten years, then there was no reason not to buy now.

However, if you've crippled yourself with debt or are planning to move in the short to medium term, you may be in trouble.

There will always be naysayer who say that you're wrong to buy property, simple as. You might have saved €20k by waiting another year, but you may have not. Nobody has a crystal ball.

I say nay.

I don't have a crystal ball but I know when the next bus is due. I don't have a crystal ball but I know that Chelsea, Man U, Liverpool and Arsenal will finish in the top 5. I don't have a crystal ball but I know FF will suffer heavy losses in the next local election. None of these things I know for certain, but they seem to be so likely that I can work on the basis that they will happen. I don't have a crystal ball, but I know with reasonable certainty that property prices have yet more to fall, especially in small towns in Cavan.

DD

How much is the mortgage of 150 k?