alias no.9 wrote: » I fully expect prices to fall but I don't know by how much. Something to consider is that right now, there seems to be a frenzy, don't buy in a frenzy. Logic and reason doesn't really hold in the Irish property market, except if there is a rush to do one thing, maybe bide your time. It's worth observing the frenzy however, I expect it's mostly FTBs but don't have data to back that up, maybe recent PPR data for the area you're looking at could show most sales being at the FTB end of the market fot the area. If there aren't many sales at your budget or above, you may have a strong hand, even now. At the figures you're suggesting, you're not really in the FTB market, if you're not fixated on a specific property, you may be able to play hard ball. Watch for properties on the market for an extended period, some will just be dreamers, but others need to sell. Don't be afraid to low ball offer if there are no bids, don't bid against yourself and don't take rejection of an offer personally, if your first offer is accepted, you've probably offered too much.
Cyrus wrote: » Your veil is slipping The poster said themselves they don’t want to wait more than 9 months so they obviously feel they are putting a things on hold as well despite your efforts to convince everyone otherwise. We all get one life and a finite time to live it, if you and smurgen want to high five each other’s misery and frantically wait for the first signs of house prices dropping so you can gleefully tell everyone you told them so then go ahead, other people have lives to get on with.
Assetbacked wrote: » Don't be surprised if we see government guidelines published next week which involve measures to get workers back into offices as part of the overall covid road map. The institutional investor lobby is quite powerful and will not want to see this Google move becoming a trend. Losing a big chip company like Google can start a chain reaction.
schmittel wrote: » Handy for social distancing!
TheSheriff wrote: » Don't dispute that for a second. It personally wouldn't be a choice I would make. I would not like to retire and not have security over my accommodation.
cubatahavana wrote: » Wouldn’t it be great if company A sells 100 million worth of mortgages to company B for 50 million and the mortgage holders would get some discounts from the transactions?
fliball123 wrote: » Well you have to weigh it up as everyone has their own unique circumstance I would factor the following in do. Will the house be there after you wait for a 20% price fall. Will there actually be a 20% price fall. Will we go back into lockdown so you could be back in your small place for another prolonged period of time Will I get mortgage approval as banks will restrict lending if the conditions for a 20% price fall come to pass (recession/depression, mass permanent job losses) How safe is yours and your spouses job. How much do you lose with renting. How much do you want the house. I wouldn't listen to anyone on here telling you to buy or not to buy you need to sit down with your partner and think about the pros and cons and either go ahead and buy and take the risk of a price drop and you paying more for the house or stay where you are and take the risk of the property being snapped up by someone else or that you wont get the credit you need to purchase. Good luck with it, its a hard decision.
TheSheriff wrote: » It's flippant posts like this which have made this place so toxic. Of course Pelezico, your outlook is the only one which is correct and matters. We should all do as your adult son and move home to save as much as possible.
OwlsZat wrote: » Please stop using this ridiculous turn of phrase. If you don't buy now, your life is not "on hold". Almost as bad as "everything happens for a reason".
King Cantona wrote: » Thanks for the replies. Yes, don't worry, I'm not making any decisions based on a random forum post, but certainly interesting to get perspectives and opinions.:) Regading some of the Q's posed to us: Location is most important to us so new builds and the FTB scheme isn't much use to us, as where we'd like to live, a new build would usually be in excess of €600k (usually way higher) We're willing to wait, but no longer than 9 months - we're just at that stage where we want more space. We had decided that we'll only move if it's a potential forever home AND good value. We'll determine what we perceive to be good value. There always seems to be something around the corner ready to affect the market - last year when we were looking it was Brexit and the trade deal (still relevant) and obviously now it's the impact of COVID. The reason we're leaning towards waiting is that I do think a recession is inevitable, and I also think there will be something in the budget to drive either supply or affordability. From speaking with friends in the bank, they are inundated by requests for mortgages in both AIB and BOI, and from our own experience, KBC are much slower to process our re-application than a year ago. I'd imagine that's a combination of people trading up due to spending more time at home but also and probably a bigger factor, people knowing circumstances will change in their jobs and drawing down whatever they can now.
Cyrus wrote: » Well we don’t know yet do we, because the guidance on wfh hasn’t changed yet maybe wait til that happens before your victory lap, as for you knowing or understanding what ‘big money ‘ is doing Leave it out
smurgen wrote: » You were the same lad saying WFH would never catch on and it would be everyone back to the offices as soon as lockdown eased. You and a few more are happy to see the Ponzi scheme that is the Irish property market rumble on no matter what. Spear me your crocodile tears. People should be cautious. The smug master of the universe rhetoric is disappearing as the big money starts to show it's hand. The estate agents and other snake oil salesmen will continue to spin yarns to try get the last few suckers in.
Pelezico wrote: » Getting on with ones life...life on hold. Do you believe ones life is incomplete without being owned by a house? It all comes down to buying that house.
TheSheriff wrote: » Multiple others have labelled themselves the same.....literally, a few posts back.
Pelezico wrote: » Buying a house, however overpriced, is all that matters. Everything else is just....waiting.
OwlsZat wrote: » Feel free to label yourself but hold off labelling others.
TheSheriff wrote: » I consider my life on hold as I can't buy now. So do many others. Nothing ridiculous about it.
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