Buying a house 2014

jbt90

The time has come alot quicker than i thought and i am looking too buy a house as my parents have sold the house and i need somewhere within the next 4 months

First time buying but have lived on my own abroad.Just looking for some tips/checklist about purchasing

Budget of 200k

Looking at west Dublin as i'm working in that region(hopefully Castleknock)

Looking for a 2 bed house as I'm 24,single and don't plan on having a big family in the future

Any recommendations on what estates and also what i need to get the ball rolling besides having the mortgage approved


Cheers guys

Menas

Best advice is not to ask a serious question in afterhours.

wazky

"Buying a house?, sure that's dead money"

No Pants

OP opened a thread in the Accommodation & Property forum before he opened this thread, so I'm not sure what he's playing at.

dmc17

OP, you need to start organising a housewarming party

Son Of A Vidic

jbt90 wrote: »

Buying a house 2014

Quick answer: Don't.

Long answer: Don't.

Kichote

buy a jetski and some decking while you're at it

Chucken

wazky wrote: »

"Buying a house?, sure that's dead money"

I thought renting was?

Can't keep up at all....

GenieOz

Renting is yer only option.
If there's one thing we should have learnt from the past 5 years it's that mortgages are a pile of shíte.

BBDBB

squatting man, its the only way to go

Sulla Felix

Have you considered kidnapping some children and living in a car with them for a few weeks? Might get put up in a hotel after that.

Stavros Murphy

I went to look over a house for a friend last week - I know houses. The property was a 4 bed detached asking 210k. Twas nice, so he offered the asking. The deeply, highly, utterly bored looking wan from the estate agents informed him it was at 220k with three bidders. He went to 250k eventually, three days later, and then dropped out when it went to 265k. That's bid up 55k in one week.... Hmm. Is property gaining legs again? I think it is..

The Backwards Man

I have a two bedroom house that is 'west' of Dublin. I'll sell it to you for a 150k cash. Tonight.

Trigger Happy

Trigger Happy wrote: »

Best advice is not to ask a serious question in afterhours.

No Pants wrote: »

OP opened a thread in the Accommodation & Property forum before he opened this thread, so I'm not sure what he's playing at.

He was probably expecting an instant answer there, didn't get one so came here!
What he needs is a good answer not a quick one.

Quick answer is that the dead cat bounce still has a bit more altitude to gain before returning to the ground.

Stavros Murphy

The Backwards Man wrote: »

I have a two bedroom house that is 'west' of Dublin. I'll sell it to you for a 150k cash. Tonight.

Bargain. Probably. Kinda like a "Donegal Catch".





i.e, a bit fishy...

Custardpi

Bear in mind that there's a huge amount of costs associated with buying a house, outside of the mortgage itself. House insurance, maintenance costs, utilities, property tax etc all add to the outlay. When renting many of these are non existant or reduced, particularly if you're sharing with others. Are you also definitely sure you want to stay in the same place for the next 30 or so years? It's a huge commitment to make at your age.

Stavros Murphy

Custardpi wrote: »

Bear in mind that there's a huge amount of costs associated with buying a house, outside of the mortgage itself. House insurance, maintenance costs, utilities, property tax etc all add to the outlay. When renting many of these are non existant or reduced, particularly if you're sharing with others. Are you also definitely sure you want to stay in the same place for the next 30 or so years? It's a huge commitment to make at your age.

Mad as it sounds, but a lad in the pub told me you can sell them, then buy another, somewhere else..sounds plausible..

Custardpi

Custardpi wrote: »

Bear in mind that there's a huge amount of costs associated with buying a house, outside of the mortgage itself. House insurance, maintenance costs, utilities, property tax etc all add to the outlay. When renting many of these are non existant or reduced, particularly if you're sharing with others. Are you also definitely sure you want to stay in the same place for the next 30 or so years? It's a huge commitment to make at your age.

I recently went to a reunion where many of us hadn't seen each other for at least 30 years and about half of my old friends were still living in the same area. Some still in the same houses they were in the 1970s.

Custardpi

Stavros Murphy wrote: »

Mad as it sounds, but a lad in the pub told me you can sell them, then buy another, somewhere else..sounds plausible..

Oh, absolutely. Because property prices only ever go up & you'll always have enough money to go a rung higher on the "property ladder". Oh, & interest rates are guaranteed to stay low, definitely.

Stavros Murphy

Custardpi wrote: »

Oh, absolutely. Because property prices only ever go up .

Pretty much. You just need to think a bit longer term. And the rest is semantics.

dirtyden

Custardpi wrote: »

Oh, absolutely. Because property prices only ever go up & you'll always have enough money to go a rung higher on the "property ladder". Oh, & interest rates are guaranteed to stay low, definitely.

Would you believe rents actually go up also!!!

Chucken

I think as well as buying in Castleknock, he should buy an apartment somewhere nice as well. Like Bulgaria.

anncoates

Doubt you'll get much in Castkeknock for that.

Chucken

anncoates wrote: »

Doubt you'll get much in Castkeknock for that.

5 properties on Daft for his budget. 4 apts and 1 house.

Custardpi

Stavros Murphy wrote: »

Pretty much. You just need to think a bit longer term. And the rest is semantics.

In the long run we're all dead. And I was thinking longer term, which is why I mentioned 30 years. No one knows what way property prices are going to go in the short to medium term. In some areas of Dublin they probably will be buoyant, but even that's far from certain.

anncoates

Chucken wrote: »

5 properties on Daft for his budget. 4 apts and 1 house.

Was thinking houses, sorry.

What type of house is the one advertised.

jbt90

The Backwards Man wrote: »

I have a two bedroom house that is 'west' of Dublin. I'll sell it to you for a 150k cash. Tonight.

I have 70k deposit will that do ?

Stavros Murphy

Custardpi wrote: »

In the long run we're all dead. And I was thinking longer term, which is why I mentioned 30 years. No one knows what way property prices are going to go in the short to medium term. In some areas of Dublin they probably will be buoyant, but even that's far from certain.

Somebody think of the children.

Chucken

anncoates wrote: »

Was thinking houses, sorry.

What type of house is the one advertised.

http://www.daft.ie/sales/riverwood-hall-castleknock-dublin/935543/

jbt90

Deleted User wrote: »

I recently went to a reunion where many of us hadn't seen each other for at least 30 years and about half of my old friends were still living in the same area. Some still in the same houses they were in the 1970s.

Did you go to a special school?

Chucken

jbt90 wrote: »

I have 70k deposit will that do ?

Give me the 70k and you can live in my spare room

jbt90

Custardpi wrote: »

Bear in mind that there's a huge amount of costs associated with buying a house, outside of the mortgage itself. House insurance, maintenance costs, utilities, property tax etc all add to the outlay. When renting many of these are non existant or reduced, particularly if you're sharing with others. Are you also definitely sure you want to stay in the same place for the next 30 or so years? It's a huge commitment to make at your age.

The mortgage will be around 550 per month, i get free home insurance from work.What maintenance we talking here? A light blub here and there?And what is property tax 200e pa?

I take home 2k per month and expect my house to cost around 800e per month including bills and tbh i don't mind that i'll still have some cash for holidays fingers crossed

Stavros Murphy

Chucken wrote: »

Give me the 70k and you can live in my spare room

Give a landlord the 70k and you can live in their house for 7 years, ish..

anncoates

Chucken wrote: »

http://www.daft.ie/sales/riverwood-hall-castleknock-dublin/935543/

Is that carpenterstown or Castkeknock?

Would have anything decent in Castkeknock proper would be more pricey but I'm up to date with current market, to be fair.

Fred Swanson

This post has been deleted.

Chucken

Stavros Murphy wrote: »

Give a landlord the 70k and you can live in their house for 7 years, ish..

I can pretend to be a landlord
I'll even give him his dinner!!

anncoates wrote: »

Is that carpenterstown or Castkeknock?

Would have anything decent in Castkeknock proper would be more pricey but I'm up to date with current market, to be fair.

I haven't a clue. I don't know Dublin at all

Retrovertigo

Good luck if you think you'll get a place within 4 months with all the to-ing and fro-ing you'll have between solicitors and estate agents.

Custardpi

jbt90 wrote: »

The mortgage will be around 550 per month, i get free home insurance from work.What maintenance we talking here? A light blub here and there?And what is property tax 200e pa?

I take home 2k per month and expect my house to cost around 800e per month including bills and tbh i don't mind that i'll still have some cash for holidays fingers crossed

Painting, replacing/repairing stuff like washing machines, cookers etc every few years. Unexpected stuff that you find out isn't covered by your home insurance, lots of stuff. Have you stress tested your income vs repayments so that if interest rates go up (as they probably will at some stage) you'll still be able to afford the higher payments. Property tax, water rates etc are low now but are almost certain to rise going forward. After all that buying the property may well make financial sense but it's far from certain so you need to do your homework & make sure you're prepared for worst case scenarios.

Stavros Murphy

anncoates wrote: »

Is that carpenterstown or Castkeknock?

Would have anything decent in Castkeknock proper would be more pricey but I'm up to date with current market, to be fair.

Just me, but I wouldn't buy that townhouse regardless, as it is gated - and gated means there's a management company, generally, and I'd rather live in a tent. I'd want a front and back and some road, that way, in as far as is possible, you own it, and decide what you want to do with it. Gated means some other fcuker calls the shots, usually the snotty old gimp in Number 6 who runs the residents association and makes "de rules". Same goes for apartments, but I'm odd like that.

anncoates

Chucken wrote: »

I haven't a clue. I don't know Dublin at all

I heard of somebody back in the boom that was told by an agent about a house in Kimmage West (Crumlin).

The Backwards Man

jbt90 wrote: »

I have 70k deposit will that do ?

Done.










and you have been!!

Stavros Murphy

Fred Swanson wrote: »

This post has been deleted.

Too late, as it happens. That was last year. Houses in Kildare, in good locations, are now being fought over again. The wheel turns... as always. Don't believe me? Go try buy one.

Fred Swanson

This post has been deleted.

jbt90

Custardpi wrote: »

Painting, replacing/repairing stuff like washing machines, cookers etc every few years. Unexpected stuff that you find out isn't covered by your home insurance, lots of stuff. Have you stress tested your income vs repayments so that if interest rates go up (as they probably will at some stage) you'll still be able to afford the higher payments. Property tax, water rates etc are low now but are almost certain to rise going forward. After all that buying the property may well make financial sense but it's far from certain so you need to do your homework & make sure you're prepared for worst case scenarios.

I understand that but at most i will be borrowing 130k, at the very most so shouldn't be too bad and will be on around 2300 per month in 2016

Stavros Murphy

jbt90 wrote: »

I understand that but at most i will be borrowing 130k, at the very most so shouldn't be too bad and will be on around 2300 per month in 2016

You'll be borrowing close to 300k, but whatever. If I was you, I'd fire ahead. A roof over your head is nice, keeps the rain off and makes a good place to keep your tv and sh1t.

jbt90

Fred Swanson wrote: »

This post has been deleted.

I Was waiting for a good while and tbh can't see any repos happening in the areas I'm looking at.I could be wrong but i think most the repos if any will be down the country or in areas like Balbriggan.

I hope I'm wrong but can't see any price drops happening,they're only going to get higher

jbt90

Keep in mind guys I'm buying a 2 bed

Custardpi

jbt90 wrote: »

I understand that but at most i will be borrowing 130k, at the very most so shouldn't be too bad and will be on around 2300 per month in 2016

Don't rely on that income, nothing's guaranteed in life. I have friends who based house buying decisions on their having x amount of income in a future year & ended up badly miscalculating. That said, the fact you have a decent deposit (rather than a 110% mortgage) probably means you're not in as much risk as many others.

Stavros Murphy

Houses are funny. Location is all, obviously, but the crash/regain/boom/crash/regain/boom cycle is a constant. You need to hit the right point on the cycle. The same muppets who didn't see the crash coming never see the recovery either, nor the upswing, nor the boom. It's cyclical, yet the cycle always seems to come as a massive surprise to people.

jbt90

I agree but i should get a 2 bed for a decent price(Hopefully)

Some the 3 beds are going for stupid money even the ones in sh!tholes

jbt90

jbt90 wrote: »

Did you go to a special school?

Why move if your job is local or you've inherited the family farm and 5000 acres, if your wife/husband is a descendent of a local wealthy landowner and several other reasons to remain in the same area you grew up in.