Property Market 2019

Graham wrote: »

Nothing at all wrong with it but...

If it were easy, it would probably suggest larger problems with the property market.

It just annoys me when people assume that because you’re single you should just buy an apartment. My point is that houses, new builds and second hand, are ridiculously overpriced once again and even though I’m actually in a much better position to buy now, I still can’t, because house prices have skyrocketed again. I’m not gonna be an idiot and blow my deposit on something that I know is overpriced and be left with nothing to put into the house after. An apartment has never appealed to me.

leahyl wrote: »

It just annoys me when people assume that because you’re single you should just buy an apartment. My point is that houses, new builds and second hand, are ridiculously overpriced once again and even though I’m actually in a much better position to buy now, I still can’t, because house prices have skyrocketed again. I’m not gonna be an idiot and blow my deposit on something that I know is overpriced and be left with nothing to put into the house after. An apartment has never appealed to me.

A single person is often competing against a dual income couple for the purchase of a house.

While I do not think a single person should buy an apartment necessarily, apartments are typically cheaper than houses.

leahyl wrote: »

What’s wrong with a single person wanting to buy a 3 bed semi??

Plenty of people buy semi detached houses on their own. During the recession they were going for 230k down here and they were in good condition. Unfortunately at the time I hadn’t a sufficient enough deposit to buy.

I also don’t want to buy an apartment, I want a house. I guess I’ll just have to accept that properties are just overpriced and live at home forever lol.

I’m not saying anything is wrong with it but there’s a reason it’s not affordable for you that’s all.

Cyrus wrote:

The reason it’s difficult is because you are trying to buy something aimed at families

May well be easier buy a 3 bed home as a single applicant. A young family will have considerable expenses.

leahyl wrote: »

Ok, don’t know what that reason is, but thanks for the response.

My friend only recently bought a 3 bed terraced house and is currently doing it all up - it is possible. My brother bought a house on his own a few years back. Both houses are in cork city suburbs.

Everyone’s situation is different. With my deposit, I should be able to buy a 3 bed, but either the supply isn’t there in the second hand houses or they need a lot of work and are overpriced at the same time, or in the case of new houses, they are overpriced.

How can you say they are overpriced ? If they are selling they aren’t overpriced.

Barnhall Meadows launched this weekend in Leixlip. All 3 beds sold (wasn't even a show house for them) and all semi-d 4 beds was the word at the show houses today. Prices started at 395 for 3 beds...no terraced they were either end of terrace or semi d. They're really well laid out I'm just surprised how quickly new houses a are getting snapped up at those prices even with HTB.

leahyl wrote: »

Ok, don’t know what that reason is, but thanks for the response.

Because the only thing that sets prices of property is the maximum people are willing and able to pay for them. Which is linked to the household income.

Of course houses aimed at families end up settling at a price that normally only a family with two incomes could afford.

There is nothing wrong with 'wanting' a 3 bed house as a single person. But that extra space, or owning a house for the sake of a house, is a luxury, when a apartment would suffice. And that's fine if you can afford it.

But it not the world's fault that family homes are priced at what a family could afford. Nobody is entitled to their dream house.

ZX7R wrote: »

Very narrow minded post really ,did you ever think maybe they are planing for the future family ect.
I was single when i bought my house married now two kids it was the best thing i ever did was ahead of the posy and was not over stretched for money when the family came along.

I'd love a 5 bed in Ranelagh. But because they're overpriced myself and my partner had to buy a 3bed in Tallaght...

PokeHerKing wrote: »

I'd love a 5 bed in Ranelagh. But because they're overpriced myself and my partner had to buy a 3bed in Tallaght...

You're mixing up over priced and unaffordable. Plesse get the dictionary out before trying to be a smart arse.

leahyl wrote: »

I should at least be able to afford a second hand semi d P

Thats erring dangerously close to entitlement!

For years i felt i should be able to afford a semi d in D8/D16/D18 with space for 2 cars, decent back yard and good public transport. It was many years of feeling like the market was against me until i realized that what i want, need and can afford are all very different.

A bit of reassessment and we are super happy now on the north side with a 30 minute commute by public transport. We dont have our full wishlist but we have enough of it to be very happy.

Remember, the market owes you nothing, it is what it is and one accepts what they can afford or betters their circumstance if possible to afford something more to their liking.

leahyl wrote: »

there are very few 2 beds in the city suburbs that don’t also need a lot of work.
P

Unless its a new house, it will most likely need work. if it doesnt, its got brand new plumbing, wiring, modern fitout, it will be priced accordingly as people pay more for the convenience of not having to sort out this work themselves.
This is why many people renovate. Buy somewhere livable and spend a year bringing it up to modern spec. Its not easy, but its the most affordable method.

leahyl wrote: »

or in the case of new houses, they are overpriced.

Ive noticed the opposite. 2nd hand houses needing a lot of work are generally a similar price to new builds in the area, or not so much cheaper to allow for renovation costs to bring a house up to modern spec. To my mind, this would make the new build better value.

Cyrus wrote: »

Not narrow minded at all

It would be great if everyone could buy a family house as their first home but it’s not possible and it’s not what you need.

Everyone can’t have what everyone wants so makes sense to buy what you need if you can’t afford what you want

Who are you to say what a person needs are when coming to what home one should buy.

The poster can't afford to buy what they want now but I wish them luck in the future that they get there house they wish for

Cyrus wrote: »

Alternatively you explain why a person buying on their own needs a 3 bedroom house

Simply if that is what they want to buy let them who knows what plans they have for there future house.
It's definitely not for you to judge