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Budget interest relief - would you buy?

  • 13-12-2009 8:52am
    #1
    gally74
    Closed Accounts Posts: 1,997 ✭✭✭


    hello,

    the change that interest relief is going to be scrapped announced in the budget,

    would it temp people to buy lets say late this year or early next year. i think he said july being the latest?


Comments

  • #2
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    No, not me.

    If there is value or not next year, a pressure like this will have no affect as all buyers will be in the same position after 2011 with the incentive gone and prices will continue to come down to reflect the lack of affordability.


  • #3
    spockety
    Moderators, Education Moderators Posts: 5,529 Mod ✭✭✭✭spockety


    I would not base any calculations on the availability of reliefs/grants or other artificial stimuli.

    I would buy a house based on various measures, including whether the property is valued correctly (investment yield calculations etc.), whether it is the type of property that a person of my social status/demographic would traditdionally have afforded pre-98, whether it can be afforded at 3-5 times annual salary, whether the monthly repayments on a 25 year mortgage at 7% interest rates take up 30% or less of my take home pay. Etc.

    Sounds conservative, but only the conservative will survive this mess.

    Don't rely on any short term influences on a long term debt purchase.


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