Are many people ready to buy ?

Zane97

Is there many of you ready to buy in the new year? Like in the 1st few months

someuser905

no

Skatedude

Since i live in dublin and i'm single. i've resigned myself to never be able to afford a home. Just cant be done on a single persons salary

The_Honeybadger

Will probably buy in the next 3 years, but definately not while prices are still falling substantially. Too risky in any case until the eurozones problems are sorted one way or the other and we start to see some level of normality emerge. Haven't bothered looking for mortgage approval or made any enquiries with estate agents and have no inclination to do so for a while yet.

Squall19

Skatedude wrote: »

Since i live in dublin and i'm single. i've resigned myself to never be able to afford a home. Just cant be done on a single persons salary

You wont be single forever.

Alot of people can probably afford to buy next year, but I hope the young with dreams of a nice life, are not so foolish.

For the young its just a dream.

There are loads of retired or near retirement age civil servants like teachers, guards, local authority staff, esb staff etc with huge bank accounts ready to become future landlords I would imagine.

I know a few of them.On big money for the last 15 years just waiting.

We will never have the easy earning potential they had, a golden generation that lot.Fella I play soccer with is only 42, joined the esb when he was 17 training as an electrician, he is earning well over 75k a year now and his below in the council office stamping forms and photocopying is raking it in too.

Fair play to them would love to have had that opportunity.

ArraMusha

wait until NAMA start offloading what they have, probably in Jan/Feb....that will have the effect of driving down the market even further..

odds_on

Yes, I will buy something in the new year. Cash buyer but very limited amount of money - under 85k. 2/3 bed bungalow or apartment.

Juniorhurler

Unfortunately I got on the ladder in 05. I think the opposite to what happened in the boom is now happening, as in people are being talked out of buying. If I was in the market for a house and the one I wanted came up in the location I wanted I wouldn't allow any economist talk me out of it if I could afford it.

Marco85

not ready to buy but really gonna put the head down after xmas and save save save.Myself and other half have the guts of 15k saved. I have car loan of 5k which will be paid off by june. What sort of deposit should you be aiming for on 200k house before you approach banks and mortgage brokers before they will entertain you?

hmmm

Have the money but not thinking of buying for a few years. Catching a falling knife and all that, I see no rush - particularly as the government are still pushing gimicks to artificially try and prop up house prices. I particularly don't like the way NAMA is holding back a flood of property, I know the minute I buy that will all appear on the market the day after.

The_Honeybadger

Juniorhurler wrote: »

Unfortunately I got on the ladder in 05. I think the opposite to what happened in the boom is now happening, as in people are being talked out of buying. If I was in the market for a house and the one I wanted came up in the location I wanted I wouldn't allow any economist talk me out of it if I could afford it.

Banks have no money, most young people lucky enough to be employed have no job security, the entire eurozone is in chaos, we have a raft of new property related taxes in the pipeline, NAMA could flood the market at any time under direction from the troika and property is falling at a rate of over 10% a year. Nobody should need to be talked out of buying at the moment. Unless you are a cash buyer or you are in very safe employment then it would be risky to buy property now. That said I have no doubt that if the banks announced 110% mortgages in the morning they would have plenty of takers, there are lots of people who have learned nothing from our crisis.

Zane97

hmmm wrote: »

Have the money but not thinking of buying for a few years. Catching a falling knife and all that, I see no rush - particularly as the government are still pushing gimicks to artificially try and prop up house prices. I particularly don't like the way NAMA is holding back a flood of property, I know the minute I buy that will all appear on the market the day after.

Why are they holding it back?

The_Honeybadger

Robbie G wrote: »

Why are they holding it back?

Because if they put thousands of apartments and houses for sale at market clearing prices the drop in asking prices generally would accelerate rapidly, and probably trigger thousands of mortgage defaults as people in negative equity lose all sense of hope for the future. The business plan is to sell the properties off over time thus artificially propping up the market. No doubt they have some real turkeys on their books that will never sell, but they also have apartments etc in Dublin which would sell as long as the price was right. Also Nama can't simply sell properties until they move against the developer who owns the loan. If the said developer is paying back even the interest on what they owe, and there is a reasonable chance that he can repay some or most of the money they will leave him to his own devices rather than move in and sell the properties in question at a big discount, so they may be giving certain developers a chance to work their way out of difficulty rather than "holding back". They have moved against a number of high profile developers lately so it will be an interesting few years ahead. God help those who buy these places after they have been vacant and left to the elements for years.

Michael525

BOI are giving mortgages at the moment, anyone who disputes that clearly has no idea what they are talking about (sorry).

Yes you are scrutinized must more than back in day but they will lend if you meet the requirements. A 10% or greater deposit is a good start .

Treehouse72

Oh man yeah, when gaffs on Shrewsbury Road hit €8,000 I'm totally sorted.

Clooney George

Since i stay in London and i'm individual. i've reconciled myself to never be able to pay for a house. Just cant be done on 1 individuals salary

The Scientician

I'm hoping to buy something modest at some stage in 2013, but it's all conditional on whether I stay in gainful employment until then. I don't know if I'll be able to afford Dublin though. If the current work I'm doing (I can telecommute) keeps up I might choose somewhere cheap in some other county. Donegal appeals to me but my friends from there think I'm nuts for considering buying there.

Villa05

abbywhite wrote: »

I am a Chinese girl.
Now I am lost my way in the forums.:mad:

You in a thread where Irish people discuss buying property next year. Trust me, you are not the only one lost

theg81der

We need to move to a family home but with neither of us working we will probably rent out our 2 bed and rent something bigger for a few years. Not ideal but no choice really. Well thats all supposing my oh doesn`t get a job offer abroad then off we go altogether.

ted1

I'm hoping to buy soon. With regards nama. I've seen what they have and Tbhin Dublin they have only crap Celtic tiger apartments. I want a well built house. I'm looking at houses around the 250 mark. I'm paying 15k rent a year, so would still be up if the house price drops a bit.

CJ1

We plan on buying in early 2012. We are looking at an estate that we would never have been able to afford in the tiger era. We have negative equity on an apartment that will probably be a noose around us for a long time but luckily we have a considerable cash amount for this purchase. We feel it is the right time for us. We could hang on and on but I don't want to live my whole life on hold and at the end of the day there is more to life than money!!

Zamboni

Reay but far far far from willing.

Learpholl

Went Sale Agreed this week and will be closing within the next couple of weeks.

I know that prices are still dropping but I've been waiting for a about a year and a half now and viewing various houses that whole time and finally something became available in the ideal location for us that I could see myself living in for the rest of my life and I believe I've got a reasonably fair price so I'm going ahead with it despite knowing that the house will inevitably drop in value over the next year or so. We can afford quite comfortably afford the house now and if interest rates went up another 2-3% so bit the bullet despite knowing its not the best idea financially.

Squall19

ted1 wrote: »

I'm hoping to buy soon. With regards nama. I've seen what they have and Tbhin Dublin they have only crap Celtic tiger apartments. I want a well built house. I'm looking at houses around the 250 mark. I'm paying 15k rent a year, so would still be up if the house price drops a bit.

1250 a month rent.

Why?

Surely you can find something cheaper, that's beyond mad.

ted1

It's a nice house in killiney, there's me my misses and two little babies. Could get cheaper but not as nice of an area.

Zane97

I'm looking to close the deal in two weeks now. How bout the rest of you

Spiritofthekop

There is still very little value to be found.

I'll buy at anytime but only when I find decent value for money.

Too many houses i was looking at need massive money put in to bring them up to a decent standard, the sellers are still trying to sell without this taken into consideration at all, which is typical of the Irish seller in most cases.

With the new property tax coming in, house prices will continue to drop for a few years yet.

johnnyskeleton

Skatedude wrote: »

Since i live in dublin and i'm single. i've resigned myself to never be able to afford a home. Just cant be done on a single persons salary

Clooney George wrote: »

Since i stay in London and i'm individual. i've reconciled myself to never be able to pay for a house. Just cant be done on 1 individuals salary

What the dickens?

jethrothe2nd

We went sale agreed a couple of weeks ago and hope to sign by mid Jan.

Like Learpholl, we are buying in an our ideal location at a very reasonable price that we can comfortably afford, knowing full well that prices will drop further, and costs will rise.

Although it is absolutely critical to be informed about, and understand the financial aspects, it's not all about the money. There are also personal factors that we took into account before deciding to go ahead and buy.

Sarn

I've been ready to buy for a few years now, but have no intention of doing so until prices start to normalise. At one point all I could afford was a 1 bed apartment, now I'm in the range of a 3/4 bed house, with the area getting better and better as time goes by.

In addition, the introduction of a property tax should help to normalise some of the crazy asking prices out there. While it will be an unpleasant tax to pay, it should remove some of the madness and increase the selection within certain bands.

piperh

Nope just bought a few months ago and we're nearly finished doing it up ready to move in in the new yr. 4bed bungalow with garage on 1 acre €75,000 + €25,000 to do it up including renewing electrics and plumbing.

Might not be everybodys ideal but it was the right house in the right location so it suited us and it didn't make sense to keep waiting and hoping something better or a better price came along. You never know what the future holds, if we did none of us would be worrying about house prices as we'd have won the euromillions by now

dazberry

We went sale agreed mid-September, but sometimes houses for sale are not ready to be sold for various reasons and things have dragged on a bit, hope to close early Jan.

Like jethrothe2nd said, there were a number of factors that influenced the decision.

D.

Gwhizzz

I'm getting married next year so it makes sense for us to buy a bigger house for our family we hope to start. We currently own a smallish townhouse and will hopefully rent out for a few years until we can reduce the negative equity to an "acceptable" level. Trying to pay for the new mortgage and top up the rent to fund the original mortgage will be a struggle but luckily we're both working in fairly stable jobs. Should we wait another year that the government might do something about negative equity?i know we weren't forced to buy when we originally did but all our "protectors" had said this was the rational thing to do at the time

bobbysands81

Squall19 wrote: »

There are loads of retired or near retirement age civil servants like teachers, guards, local authority staff, esb staff etc with huge bank accounts ready to become future landlords I would imagine.

...but none of those you have highlighted are Civil Servants.

Never ceases to amaze me how folk will take a pop at something they know hardly anything about.

Mr. Loverman

Gwhizzz wrote: »

I'm getting married next year so it makes sense for us to buy a bigger house for our family we hope to start. We currently own a smallish townhouse and will hopefully rent out for a few years until we can reduce the negative equity to an "acceptable" level. Trying to pay for the new mortgage and top up the rent to fund the original mortgage will be a struggle but luckily we're both working in fairly stable jobs. Should we wait another year that the government might do something about negative equity?i know we weren't forced to buy when we originally did but all our "protectors" had said this was the rational thing to do at the time

Wait until your family is nearly due before you buy. This will be in 2-ish years, right? By waiting you will likely save yourself a fortune over the life of the mortgage.

I do have doubt though you will be able to get a second mortgage when you already have a mortgage with an "unacceptable“ level of negative equity.

By the way, don't listen to anyone who has a vested interest in you buying. This includes (but is not limited to) politicians, estate agents, banks, some newspapers, people selling, people who have just bought.

Mr. Loverman

bobbysands81 wrote: »

...but none of those you have highlighted are Civil Servants.

Never ceases to amaze me how folk will take a pop at something they know hardly anything about.

He used the wrong official phrase, so what? It doesn't detract from his meaning.

Newaglish

bobbysands81 wrote: »

...but none of those you have highlighted are Civil Servants.

Never ceases to amaze me how folk will take a pop at something they know hardly anything about.

Can you actually clarify the difference between civil and public servants? I do sometimes find the terms confusing although I would have thought local authority staff were civil servants

kildon

friends of mine are buying in 2012, they've agreed a price of 260, in the peak the same house was about 625, so they think they are getting a good deal, will be interesting to see if they have got the bottom price, a few other houses in the same estate looking for 360-390

spockety

Gwhizzz wrote: »

I'm getting married next year so it makes sense for us to buy a bigger house for our family we hope to start. We currently own a smallish townhouse and will hopefully rent out for a few years until we can reduce the negative equity to an "acceptable" level. Trying to pay for the new mortgage and top up the rent to fund the original mortgage will be a struggle but luckily we're both working in fairly stable jobs. Should we wait another year that the government might do something about negative equity?i know we weren't forced to buy when we originally did but all our "protectors" had said this was the rational thing to do at the time

I'm married, with one kid, and another on the way. We live in a very nice rented house. I'm afraid marriage and kids isn't a good enough reason for us to buy. The two things are in no way related. I'm not sure why anyone correlates the two?

Becoming a landlord, taking on a 2nd mortgage, and admittedly doing something which you say will be a "struggle"? I just don't get it at all.

If I were in your position I would re-think.

We'll buy, highly unlikely to be in 2012, possibly in 2013, more probably in 2014. The pressure is not to buy, the pressure is to buy at the right time and make the right decision. It's probably a one way ticket.

Glowing

Married and in my early 30's - currently renting and sitting on a deposit .. will hopefully find a house to buy in the next year or two but not in any mad rush. At this stage it's a case of finding the right house for the right price, as we'd be looking to buy in South Dublin, prices are still a wee bit inflated.
I think as long as there is a risk that any house we buy might depreciate annually by more than what we're paying in rent, then we'll hold off as long as we can and just keep saving.

Still ... I'd love to have my own home

Zane97

My next step is to get the. We house snagged

arikv

Learpholl wrote: »

Went Sale Agreed this week and will be closing within the next couple of weeks.

I know that prices are still dropping but I've been waiting for a about a year and a half now and viewing various houses that whole time and finally something became available in the ideal location for us that I could see myself living in for the rest of my life and I believe I've got a reasonably fair price so I'm going ahead with it despite knowing that the house will inevitably drop in value over the next year or so. We can afford quite comfortably afford the house now and if interest rates went up another 2-3% so bit the bullet despite knowing its not the best idea financially.

I did the same last year, bought in 05/2011 in South County Dublin in a place the suits me (not sure for how long), the property market took another nose dive since, and looking on Daft (I promised myself I won't do it again unless I have a genuine reason to do so) makes me almost cry.
I know I could have gotten something better/bigger near by now, but I still am happy with my choice as we like the area we're in, mortgage is lower than the rent we paid, and in the long run if we need to trade up (providing we can get some sort of savings again) even if prices stay low, the next house (if and when) will also be lower to reflect it.
One thing that I've noticed is that 4 bed semi, that are not much more expensive than 3 bed semis tend to keep their (asking) prices better over the last year and a bit, only a point in time, but I still thought it might be worth mentioning to you.