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Buying a house in Belfast

  • 19-04-2014 12:14pm
    #1
    crinno
    Registered Users, Registered Users 2 Posts: 12 ✭


    I am moving to Belfast for a minimum of 3 years so reckon it might not be such a bad idea to invest. Having studied there previously i know BT9 and BT7 well. I like both areas but sadly my budget is around the 30-45k ideally and 60k if the banks are kind and rules them out. This puts me at the bottom of the market so i obviously wont get much. I will be working in the north of the city so anywhere around the BT13 and BT 14 area would be great. My only absolute criteria is a house with no flags or painted kerbs outside, no matter the flag. There is obviously no rule for this but is 3-4 streets away from a flag flying houses ok or am i looking for trouble?....visiting it first hand instead of on google maps will undoubedly give me a better idea :)

    I have already read the "megathread" on boards about moving to belfast but it mostly covers renting. Any tips for buying?

    Have I a chance of getting a property in a mixed area with that budget? I'd be happy with a 1 bed but a 2 bed would be nice giving me the opportunity to rent out a room.

    BT5 and BT15 have been recommended to me also but i can only seem to find properties with painted kerbs and bunting outside within my budget!! I do want to be able to talk to my neighbours freely with my southern accent! I suppose i should mention I am catholic but given my accent thats usually presumed!

    any tips to steer me in the right direction would be super and any recommended areas would be brilliant!


Comments

  • #2
    marathonic
    Registered Users, Registered Users 2 Posts: 1,684 ✭✭✭marathonic


    Is your budget the amount you have in savings at the moment? Would you rule out a mortgage? I had no problem 18 months ago getting a mortgage from Ulster Bank when I moved north. I provided them with the normal documentation they request and a copy of my ICB (Irish Credit Bureau) credit history.

    If your £30-45k budget includes plans for a mortgage, you'll not have much hope as it's likely below minimum mortgage requirements when you include the required deposit.

    I used a 25% deposit and fear it may prove difficult as a ROI resident to get a mortgage in the north with less - but don't let this stop you from trying.

    I had also worked in the north for many years and commuted daily from the south so had a steady job already in place for many years. If you are moving for a new job, this will remove your ability to secure a mortgage.

    I'm afraid to say that, if I were moving to Belfast and my maximum budget was that low, I'd rent for the first year. This will allow you to scope out the good and bad areas and put you in a better position for a mortgage - due to passing probationary periods in employment.

    Basically, you can usually have a budget that low OR live in a reasonably good area - but not both.


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