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Is it a good time to buy a house?

  • 04-03-2017 1:33pm
    #1
    outlooks
    Closed Accounts Posts: 90 ✭✭


    Hello,

    I would like to ask for some opinions about buying a house these days, taking into account the current political and house market environment.

    Some factors have been pointed out by analysts, such as: companies opening their HQ in Ireland, leading to some immigration, Irish people returning home, and several other factors that are leading to housing shortage or high demand bumping the house prices. There is also the Brexit which may impact things as well, in a positive or negative way.

    I guess that my main concern is about buying a house that could potentially loose a great part of its value in the upcoming years.

    Thanks.


Comments

  • #2
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Depends on whether you're looking for a house or for a home.

    Prices could go either way but if you can buy a house you want to live in long term then what does the value matter.

    My home is just about out of negative equity but we were able to keep up the payments and have no plans to sell so I don't focus on the market value


  • #3
    Samuel T. Cogley
    Registered Users, Registered Users 2 Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    There is never a good time to buy. If the market crashes there will be bugger all for sale. If you wait it might sky rocket.

    If a reasonable home that will do for 10 years plus is within your reach (actually within your reach and not going mental) then why would you want to continue to pay the absolutely crazy rents out there. Just don't get stuck thinking you'll buy a 1 bed apartment and trade up in a few years when it doubles in value...

    ... actually absolutely do that some of us have 1 bed apartments to unload.


  • #4
    listermint
    Registered Users, Registered Users 2 Posts: 34,216 ✭✭✭✭listermint


    If you are buying a home to keep value or make value then you are looking at it from the wrong angle.

    Buy the house you can afford and you are happy with. The worth is what it's worth to you for the length of time you plan for in it


  • #5
    The One Doctor
    Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    outlooks wrote: »
    I guess that my main concern is about buying a house that could potentially loose a great part of its value in the upcoming years.

    Thanks.

    If you're looking for an investment property this would be a concern. If you're looking for a permanent family home it's largely irrelevant.


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