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Mervue House Prices

  • 22-01-2011 5:44pm
    #1
    Whest
    Registered Users, Registered Users 2 Posts: 14 ✭


    I am thinking of buying a house in Mervue and have been pre-approved for a 92% mortgage with AIB. The asking price is 190k....Am I mad to be even thinking of it currentley or will I regret it in 2 years time if i dont?


Comments

  • #2
    Amhran Nua
    Closed Accounts Posts: 4,124 ✭✭✭Amhran Nua


    I wouldn't feel under any pressure to buy at the moment, in my opinion prices are going nowhere but down. As always your own circumstances will affect any answers though, as well as the place you are buying. Are you in a secure enough job, and are you happy to spend at least the next ten years in this place, possibly longer?


  • #3
    doubleglaze
    Registered Users, Registered Users 2 Posts: 405 ✭✭doubleglaze


    You'd have been mad to buy it at peak, for about €330,000-€340,000. So, not mad to buy now. I suppose it depends on how fed up you are of living where you currently do; on the quality of the house/estate/neighbourhood and whether the house you have in mind is unique; on your finances and job security, etc.


  • #4
    celty
    Registered Users, Registered Users 2 Posts: 370 ✭✭celty


    Only the great Frankeeeeen Fahey would tell you now is the best time to buy, as he did this time two years ago ... and prices have tumbled since.

    To be honest, it looks as though house prices are going to fall for another one to two years so, on economic terms alone, it doesn't make sense. If you are renting, why not rent a nice place until the market starts to turn.


  • #5
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Rent is dead money, they are not making any more land, banks are tightening finance criteria, if you don't get on the ladder now you never will..
    Which one did I miss?

    This should be in the accomodation forum


  • #6
    fergiesfolly
    Registered Users, Registered Users 2 Posts: 3,443 ✭✭✭fergiesfolly


    If you're planning to stay there for the medium to long term and you're happy with the neighbourhood, then I don't think you're mad at all. €190 grand doesn't seem overly expensive, although I'd still put in a low bid to start. Just one question...houses in Mervue are fairly old. Whats the condition of it? Need much work on it?


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  • #7
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    you would get somewhere in Renmore for €190k and Renmore is not Mervue :)


  • #8
    josey_whale
    Registered Users, Registered Users 2 Posts: 284 ✭✭josey_whale


    snubbleste wrote: »
    Rent is dead money, they are not making any more land.....

    In a falling market, Rent is NOT dead money. House prices have a ways to fall yet...


  • #9
    emptybladder
    Registered Users, Registered Users 2 Posts: 332 ✭✭emptybladder


    josey_whale wrote: »
    In a falling market, Rent is NOT dead money. House prices have a ways to fall yet...

    I think that one went over your head.


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