Struggling to find an affordable apartment....help??

jayjay2010

Hey guys

Recently for mortgage approval. With my deposit + loan my budget would be for a 2 bed apartment up to 150k. I am buying solo.:pac:

...It seems that just 4/5 months ago I could've bought an apartment in Tallaght/Saggart for just over the 100k mark.....now I'm struggling to find anything half decent for under 150k. Every place I ring there are offers 5-10k over the asking price. Daft and Myhome don't seem to update their properties as 90% of the ones I inquire about are sale agreed.

...So what's the story?? Is this a bad time of year to buy? I appreciate many people are in the same position as me but as a 1st time buyer I thought I'd have a least a couple of options open to me for less than 150k.

I'm not that picky and I would consider most places in West Dublin, but as a first time buyer I'm not very experienced in this and I'm afraid to look foolish for not offering way more than the advertised asking price.

I'm worried that if I wait any longer I won't be able to find a place at all and will be forced to continue renting for years....

Can anyone advise?

Thanks!
Jason

MarkAnthony

Buying an apartment that far out... not the smartest decision IMHO but it's your money.

Keep checking myhome and daft. You'll do a lot of untamed aquatic foul pursuits to start with but then you'll start to workout what new to the market. You'll also figure out when you're being told porkies by EAs.

There is upward pressure on apartment prices but I'm surprised you're having an issue that far out. Would you not consider a one bed in the city centre? At least you'd have something rentable if needed.

Getting plenty of properties with a Max 125K, whole Dub search (min two bed). Any reason you wouldn't go for any of the myriad of houses that pop up? (loads in D24)

jayjay2010

MarkAnthony wrote: »

Buying an apartment that far out... not the smartest decision IMHO but it's your money.

Keep checking myhome and daft. You'll do a lot of untamed aquatic foul pursuits to start with but then you'll start to workout what new to the market. You'll also figure out when you're being told porkies by EAs.

There is upward pressure on apartment prices but I'm surprised you're having an issue that far out. Would you not consider a one bed in the city centre? At least you'd have something rentable if needed.

Getting plenty of properties with a Max 125K, whole Dub search (min two bed). Any reason you wouldn't go for any of the myriad of houses that pop up? (loads in D24)

The majority of the apartments that I am looking to view are sale agreed and no more viewings available.

I would consider a 1 bed but my bank will only give me 75% of the value of the property so I wouldn't have enough deposit to make up the difference.

When I started saving for an apartment I had the 100-100k figure in mind as there was a lot of places at that price. But now it seems like €150 isnt enough for the exact same properties as just 4/5 months ago. Very upsetting.

I wouldn't mind renting but the cost is just unreasonable. Out last place shot up in price after a year so we had to move out.

MarkAnthony

If I was buying out there I'd be looking at a house, same in D15, there are houses within your budget. May I ask if you've counted out a house completely and why if I can pry?

MarkAnthony

An old Ad I grant you - probably more backing up what you were saying but for what it's worth:

http://www.myhome.ie/residential/brochure/7-annaly-court-ongar-dublin-15/3006012

My brother-in-law lives there, never had any bother.

Rachiee

I'd definitely look at houses, you grow into them better if you can't sell and end up living there for life. They are easier to sell if and when the time comes, and you don't have to worry about management fees. Houses still go cheap in a lot of areas in Dublin and you might even get a garden where you can dry clothes or keep a pet.

Eldarion

jayjay2010 wrote: »

I'm worried that if I wait any longer I won't be able to find a place at all and will be forced to continue renting for years....

You're buying out of panic. I can assure you anybody in negative equity who bought in 2006-2008 would they rather have just accepted they had been priced out, rented for another 4 years and bought at the low time during 2012/2013.

The idea that "Prices can only go up" should well and truly be put to bed at this stage.

jon1981

Will i lose all credibility for posting this

race-to-buy-before-summer-will-spike-house-prices

Don't add to the spike OP!!

handlemaster

Dublin 15 YOU should pick up a property with the shopping centre near by your set