Cyrus wrote: » I like rathgar and i like this style of house but its small and overpriced imo, needs another 300k spent minimumhttps://www.myhome.ie/residential/brochure/5-rostrevor-road-rathgar-dublin-6-d06-f3c2/4446351 Its warm apparently D2 BER
MacronvFrugals wrote: » That BER number is very suspicious imo
JimmyVik wrote: » 10% is my trigger point too. Actually might wait for 9% since there will be a lot of people waiting for 10% and might as well get in before the competition
Pelezico wrote: » Of course property will fall. We have massive unemployment and an equally massive e deficit. 10% fall in say fifteen months is the equivalent of 35k for my son. Himself and the girlfriend can save another 35k so that's a nice start in life.
Springy Turf wrote: » . Don’t be surprised if the access to credit at that point means he doesn’t have 300k+ to spend. Mind you, 10% drop seems optimistic to me. If that’s all it is, for a lot of people it’s really not worth waiting.
Pelezico wrote: » 10% not worth taking? Are you for real? As for access to credit, he will have a good deposit.
cubatahavana wrote: » I don't get the state of these kind of houses. To me its way overpriced for what you get
Springy Turf wrote: » 15 months rent at 1500 per month is 22500. For a potential 35k discount, you are 12.5k up.
Graham wrote: » And a year or two further out from finishing your mortgage.
Pelezico wrote: » His mortgage will be 70k lower to start with. Boy...you guys are desperate.
fliball123 wrote: » maybe but the house and area that he want looks like it might not be available, properties are coming down day by day
Pelezico wrote: » Let's wait and see. The autumn selling season usually results in I crease in properties on market. Summer numbers usually fall.
fliball123 wrote: » They have been falling all Spring as well which is usually a bigger selling season than Autumn
Graham wrote: » Remember this is a discussion about the market in general not your son/daughter. Not every new buyer has a 70k deposit, not every potential buyer has the luxury of living at home while they save, not every potential buyer has a guaranteed job for life and guaranteed mortgage approval, not every potential buyer is young enough to wait withou compromising their mortgage term/budget.
Pelezico wrote: » You are in denial. Denial is not a river in Africa. To suggest that a fall in house prices does not benefit buyer is denial. As for autumn selling season, numbers usually increase. September will tell a story.
Pelezico wrote: » Is this where I get banned?
Pelezico wrote: » He lives at home and will same 35k in that time with his gf. So it really adds up for him. And your numbers are naive. No inclusion for mortgage interest, repairs, insurance, property tax etc etc etc. You own a house yourself? I doubt it if you believe these numbers.
Knex* wrote: » That's a 500k house coming down to 450. If you knew that was available in 12 months, you'd be daft not to wait. Huge impact on your mortgage.
Knex* wrote: » You're not taking into account the effect of your mortgage, interest, and repayments over the lifetime of the mortgage. House price now is 420,000. Mortgage of 378,000 @ 3.15% over 30 years. Monthly repayments: €1,624.41 Total mortgage: €584,785.95 House price reduces even 5%, and its €399,000. Mortgage is now €359,100 over 30 years. Monthly repayments €1,543.19 Total mortgage: €555,546.65 Total savings: 29,239.30. So even at 5% you're saving an extra 10k over the 30 years. It's not just the initial drop in price.
Knex* wrote: » You're not taking into account the effect of your mortgage, interest, and repayments over the lifetime of the mortgage. House price now is 420,000. Mortgage of 378,000 @ 3.15% over 30 years. Monthly repayments: €1,624.41 Total mortgage: €584,785.95 House price reduces even 5%, and its €399,000. Mortgage is now €359,100 over 30 years. Monthly repayments €1,543.19 Total mortgage: €555,546.65 Total savings: 29,239.30. So even at 5% you're saving an extra 10k over the 30 years. It's not just the initial drop in price. People might still find that that's OK to sacrifice and want to move ahead with a purchase now - that's fine. Everyone has their own reasons, but there's more of a financial impact than you're outlining.
JJJackal wrote: » This type of calculation fails to take 2 factors into account A) unless your living somewhere for free for the year your paying rent etc - rent on a 500,000 property is likely 2,000 per month or 24,000 per year your mortgage repayments go for 31 years from today in calc B (as you bought a year later); also maybe you can only get mortgage for 29 years now due to age and thus repayments are more closely aligned
c.p.w.g.w wrote: » I see a few folks on different social media site bemoaning not being able get a house/mortgage... The following is true for each of them... Have expensive taste in footwear and clothing (Balenciaga & All Saints clothing(€200 tee-shirt) Have a ridiculous amount of makeup(both male & female) and expensive branded stuff from YouTubers/instagremmers Have the latest Samsung/iPhone, and regularly will upgrade to the latest model upon release Order take-out on a very regular basis Have loans for things like holidays and just because the bank offer a loan via email... The people I mentioned at the beginning are guilty of at least 1...But a buddy is literally guilty of all the above... There is a certain segment of society who are incapable of planning beyond a month financially...
thomas 123 wrote: » House prices have gone up due to more demand. Wages have stayed the same for the most part, in fact id say they have gone down in value with rising costs everywhere else. Not so long ago one person went to work while one stayed home and people got by just fine. On top of this the 3.5x rule limits a lot of us, so saving for a deposit is not even the only issue. There is an issue, just because you see some people with a phone or shoes doesn’t mean there is not a horrible problem right now with housing.
