Buy now or later

Jake5991

Hi im 32 my fiance is 35 we are looking at buying a house but not so sure if now is the right time or not . We are looking for a house with a good ber rating greater than a d1 in the kildare area.
We are just wondering is now the right time to buy or should we hold off for now . Are propertý prices going to drop or rise in the next few years . I allready have a house in laois but we want to buy closer to dub for work reasons.

dennyk

If someone could predict with any accuracy where property values would be in a few years, they wouldn't be posting on Boards.ie because they'd be too busy swimming around in their giant money bin. The right time to buy is when you are confident you know where you want to live for the medium to long term (at least 5-10 years, preferably longer) and you can reasonably afford the type of property that will suit your expected needs during that timeframe in that area.

jimmycrackcorm

I'm in my house 20 years. Did I consider back then if it was a good time to buy or not?

It didn't matter.

Mic 1972

The property market is currently slow, it's a good time for price negotiation
Whatever happens after brexit god only knows

Empty_Space

Jake5991 wrote: »

Hi im 32 my fiance is 35 we are looking at buying a house but not so sure if now is the right time or not . We are looking for a house with a good ber rating greater than a d1 in the kildare area.
We are just wondering is now the right time to buy or should we hold off for now . Are propertý prices going to drop or rise in the next few years . I allready have a house in laois but we want to buy closer to dub for work reasons.

No one knows, there are too many unknown variables.
What will happen with brexit?, will the central bank relax lending rules?, will the world see a recession?.

I personally think we have more chance of heading downward. But that's just my informed opinion. I don't think there will be massive crash.

SEPT 23 1989

I would leave it until next year from what I see on the ground things really are slowing down

StoptheClocks

No one knows if prices will be down next year. Kildare is a big place.
Have a look at what is out there and does it suit your needs.
Think about the possible changes that might happen in the next few years, Change of jobs, Kids etc.
Access to amenities is a big factor. Getting to work might be ok now, but what if you need to drop you're kid to a creche and pick them up.
The BER rating on houses doesn’t mean much. All new builds have to be A3 standard or above.
A D1 could be warmer than a C3. The criteria is ticking boxes.
Good luck

Jake5991

Thanks for all the opinions its food for thought.

KilOit

SEPT 23 1989 wrote: »

I would leave it until next year from what I see on the ground things really are slowing down

People really need to remember banks don't lend when the economy is in the toilet and nice homes aren't sold when prices tank

Jake5991

Jake5991 wrote: »

Hi im 32 my fiance is 35 we are looking at buying a house but not so sure if now is the right time or not . We are looking for a house with a good ber rating greater than a d1 in the kildare area.
We are just wondering is now the right time to buy or should we hold off for now . Are propertý prices going to drop or rise in the next few years . I allready have a house in laois but we want to buy closer to dub for work reasons.

When I was buying in 2014 I was worried I was buying at the wrong time and thought that we were in the middle of a mini bubble. I read posts here and on the property pin and had myself convinced it was the wrong time. I found a good house though and thankfully I pressed ahead anyway and bought otherwise I'd still be waiting for that drop and it would of cost me big time.

If prices are going to drop next year it'll only be by a few percent. But then again they could rise by a few percent. If you find the right house go for it.

cruizer101

Just one thing to be aware of is the term of mortgage you can get.
Some banks will only lend til your 65, so in a few years you may not be able to get a 30 year mortgage given partners age.
You wold have to talk to the banks directly to find out their policy, they may now go to 67 given retirement age is increasing, and you may just be looking at 29 year term instead of 30 which won't make huge difference but it is just something to be aware of.

StoptheClocks

cruizer101 wrote: »

Just one thing to be aware of is the term of mortgage you can get.
Some banks will only lend til your 65, so in a few years you may not be able to get a 30 year mortgage given partners age.
You wold have to talk to the banks directly to find out their policy, they may now go to 67 given retirement age is increasing, and you may just be looking at 29 year term instead of 30 which won't make huge difference but it is just something to be aware of.

It is to 67 now. For the oldest person in the relationship.

Jake5991

Id be happy living in a caravan lads . Its the woman who wants to buy what we cant afford and what we can afford its not good enough. Trying not to lose the rag with her .

benjamin d

If you're buying it to live in then the right time is once you can afford it. You only need to time the market if you want to flip it for a profit. Negative equity is basically meaningless if it's your long term home

Idbatterim

Jake5991 wrote: »

Id be happy living in a caravan lads . Its the woman who wants to buy what we cant afford and what we can afford its not good enough. Trying not to lose the rag with her .

the central bank rules are prudent now though, so how can you qualify for something you cant afford? also a factor in the decision would be, are you paying rent currently and if so, is it market rent or a very good legacy deal etc,,,

StoptheClocks

Jake5991 wrote: »

Id be happy living in a caravan lads . Its the woman who wants to buy what we cant afford and what we can afford its not good enough. Trying not to lose the rag with her .

This is how women work. They keep the economy ticking over. They're essential for GDP growth.