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Buying house in 2019? Bad idea?

  • 20-11-2018 10:37am
    #1
    NeoSD5
    Registered Users, Registered Users 2 Posts: 72 ✭✭


    Is buying a house a bad idea in 2019 with the current prices, should I wait until the supply meets the demand, will prices fall off? anyone predictions?
    Tagged:


Comments

  • #2
    Gumbo
    Moderators, Society & Culture Moderators Posts: 40,800 Mod ✭✭✭✭Gumbo


    NeoSD5 wrote: »
    Is buying a house a bad idea in 2019 with the current prices, should I wait until the supply meets the demand, will prices fall off? anyone predictions?

    Without a crystal ball, nobody knows.
    Supply cannot meet demand for years to come!

    You decide if you are happy with the house, the price and the repayments for your home.

    Remember, if a crash happens, then finance becomes harder, interest rates may climb again making repayments more.


  • #3
    NeoSD5
    Registered Users, Registered Users 2 Posts: 72 ✭✭NeoSD5


    kceire wrote: »
    Without a crystal ball, nobody knows.
    Supply cannot meet demand for years to come!

    You decide if you are happy with the house, the price and the repayments for your home.

    Remember, if a crash happens, then finance becomes harder, interest rates may climb again making repayments more.

    I agree nobody knows for sure, there are just so many things that could effect this at the moments. In theory with supply not meeting demand the prices would at minimum stay the same, or even go higher.


  • #4
    Moonjet
    Registered Users, Registered Users 2 Posts: 236 ✭✭Moonjet


    My advice is only get involved with property price speculation if buying an investment property. If it's going to be your home, engaging in speculation is dangerous as nobody can predict the market. If it's a property that suits your long-term needs, the location is good and you can afford the deposit and monthly interest repayments (stress tested +2%) then it's the right time to buy. The price might go up, or it might go down but it won't matter.


  • #5
    incentsitive
    Registered Users, Registered Users 2 Posts: 436 ✭✭incentsitive


    NeoSD5 wrote: »
    Is buying a house a bad idea in 2019 with the current prices, should I wait until the supply meets the demand, will prices fall off? anyone predictions?

    Just don't buy something assuming it will go up in value - that was the 2007 mistake. "I'll buy this apartment, it'll go up by 50k and then I'll buy a 3-bed semi d....." (facepalm)
    Buy something you are happy to live in for the next 40 years, and then price fluctuations won't matter then.


  • #6
    NeoSD5
    Registered Users, Registered Users 2 Posts: 72 ✭✭NeoSD5


    Moonjet wrote: »
    My advice is only get involved with property price speculation if buying an investment property. If it's going to be your home, engaging in speculation is dangerous as nobody can predict the market. If it's a property that suits your long-term needs, the location is good and you can afford the deposit and monthly interest repayments (stress tested +2%) then it's the right time to buy. The price might go up, or it might go down but it won't matter.

    Good point


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