Good time to buy home

RParker123 · 31-12-2013 7:26pm #1

Is now a good time?

Been saving deposit waiting for good time.
Would probably buy outside Dublin, in Kildare or Meath.

Santa Cruz · 01-01-2014 10:39am

If you have a good deposit and can get loan approval it is a good time. There is some excellent properties in those counties, either in rural or urban areas. It is a buyers market at the moment. If going for a three bed make sure there is scope for an extension down the line as invariably you will need extra space

Glenbhoy · 01-01-2014 1:09pm

RParker123 wrote: »

Is now a good time?

Been saving deposit waiting for good time.

Despite the assurances some posters may give you, nobody really knows. We all have our own thoughts and these are extensively argued in several other threads.

In my opinion, if you want a home to live in and are happy to stay there for a long time, then go for it. One thing to bear in mind with Meath/Kildare (anywhere outside of Dublin) is that once you purchase in these areas you're fairly committed to staying there for at least the medium term. The rise in prices experienced in certain pockets in Dublin has not been replicated elsewhere, so if you were to buy and decide to sell again within a short period, you may have to sell at a loss.

maggiebb · 25-01-2014 6:02pm

Certainly prices in Dublin South are going up again like crazy, but those houses are not worth so much. 500k and more for 3 bed in D18 it is way too much, you can easily buy 4 properties in US:;)

_Kaiser_ · 25-01-2014 6:55pm

Well from the ads I'm seeing today on Sky during every break promoting the return of the Sunday Times' property supplement, the good times are definitely back! :rolleyes:

We haven't learned a thing

Dr Turk Turkelton · 25-01-2014 9:03pm

maggiebb wrote: »

Certainly prices in Dublin South are going up again like crazy, but those houses are not worth so much. 500k and more for 3 bed in D18 it is way too much, you can easily buy 4 properties in US:;)

Some commute from one of your four properties in the US to work in Dublin though.
If I was you op I would stick with the roughly one hour commute from Meath or Kildare.

dinnyirwin · 25-01-2014 9:09pm

Do you think yourself that you can benefit from waiting til next year to make your move.
If you dont move now and the market moves against you does that scupper your plans completely?
If you do move now will it eat you up if you find you would have been better off if you had waited in a years time?

Nobody at all knows whats ahead. There are always people who think they do know and they are the most vocal, but they dont really know at all. If they did they would be off enjoying a cocktail in the Caribbean instead of being on message boards complaining and calling everyone else stupid for not sharing their view. Its those people you want to avoid listening to.

moxin · 25-01-2014 11:57pm

dinnyirwin wrote: »

Nobody at all knows whats ahead. There are always people who think they do know and they are the most vocal, but they dont really know at all. If they did they would be off enjoying a cocktail in the Caribbean instead of being on message boards complaining and calling everyone else stupid for not sharing their view. Its those people you want to avoid listening to.

Is that a dig at the bears?!

Look, the poster needs to keep an eye on their target area both past and present, local needs supersede any media outlet that says about prices.

As Kildare\Meath is stated, there is no "boom" in prices there. The present bubble is Dublin related, specifically wealthier parts of Dublin which just so happens to be southside.

Moonbeam · 26-01-2014 12:00am

It depends on what part of Kildare,there is a massive shortage of decent houses for sale where we are and it is keeping prices quite high.
If you need a house now is a good time to buy.

moonshadow · 26-01-2014 12:06am

190 k for a new 4 bedsemi in Drogheda with sunroom and utility room , 35 mins from the Liffey , Im happy!

moxin · 26-01-2014 12:08am

Moonbeam wrote: »

It depends on what part of Kildare,there is a massive shortage of decent houses for sale where we are and it is keeping prices quite high.
If you need a house now is a good time to buy.

Yes it depends. I've heard anecdotally that Leixlip and Celbridge have stagnated but Maynooth has some demand.

I'd agree if one has the finance, go ahead and buy but that is dependent on the buyer having watched the market locally and making an informed decision based on the local area alone.

dinnyirwin · 26-01-2014 1:18am

moxin wrote: »

Is that a dig at the bears?!

Look, the poster needs to keep an eye on their target area both past and present, local needs supersede any media outlet that says about prices.

As Kildare\Meath is stated, there is no "boom" in prices there. The present bubble is Dublin related, specifically wealthier parts of Dublin which just so happens to be southside.

Take it as a dig at people who pretend that they are clairvoyant. Bulls or bears.
Nobody here knows what going to happen in a year or two economically. Anyone who says they do is a liar plain and simple.

Sorry, I just had a chuckle at the use of the word "bubble"? What are you like. Did you learn nothing during the last decade?

Henry Ford III · 26-01-2014 8:45am

maggiebb wrote: »

Certainly prices in Dublin South are going up again like crazy, but those houses are not worth so much. 500k and more for 3 bed in D18 it is way too much, you can easily buy 4 properties in US:;)

Over 14 x average earnings. That's mad Ted.

Villa05 · 26-01-2014 11:12am

dinnyirwin wrote: »

Take it as a dig at people who pretend that they are clairvoyant. Bulls or bears.
Nobody here knows what going to happen in a year or two economically. Anyone who says they do is a liar plain and simple.

Sorry, I just had a chuckle at the use of the word "bubble"? What are you like. Did you learn nothing during the last decade?

Is there many bears on here that claim that prices will be lower next year. I don't think there is. The Bears question what is going on and make a call on the sustainability of what is happening.

The Irish media is pure Bull and is a massive vested interest. The Bears and realists just question the spin and put forward arguments with an opposing view. By doing so we are alerting prospective buyers to potential dangers

What property market has recovered without dealing with the damage from the previous bubble (arrears)?

How long will the austerity budgets continue as we are tied into EU agreements on Gov spending?

How are current prices sustainable when the the Under 35's and future generations are handed the bill for their parents overspending?

How will mortgage lending be sustainable at current interest rates when there are huge losses yet to be borne by the Banking industry, a system that allows non payers stay in the home in definitely?

Why would a bank lend on a mortgage at 4 to 5 % and all the hassle and risk this entails when they can instead buy Irish bonds earning 3 to 4%?

dinnyirwin · 26-01-2014 1:45pm

Villa05 wrote: »

Is there many bears on here that claim that prices will be lower next year. I don't think there is. The Bears question what is going on and make a call on the sustainability of what is happening.

The Irish media is pure Bull and is a massive vested interest. The Bears and realists just question the spin and put forward arguments with an opposing view. By doing so we are alerting prospective buyers to potential dangers

What property market has recovered without dealing with the damage from the previous bubble (arrears)?

How long will the austerity budgets continue as we are tied into EU agreements on Gov spending?

How are current prices sustainable when the the Under 35's and future generations are handed the bill for their parents overspending?

How will mortgage lending be sustainable at current interest rates when there are huge losses yet to be borne by the Banking industry, a system that allows non payers stay in the home in definitely?

Why would a bank lend on a mortgage at 4 to 5 % and all the hassle and risk this entails when they can instead buy Irish bonds earning 3 to 4%?

So are you making a prediction then?
I could have a monkey throw darts at stocks and his prediction would be just as valid as any I see being made one way or the other.

Investors are about hedging against risk.

People looking for their first home are about what is available to them and is it worth moving now or taking a chance that they wont be able to in the future, or that in the future their move might turn out to have been worse than if they had waited. Its a personal situation for them. Telling them to base their decision on what YOU or I think about what might happen is unfair and pretentious.

sarkozy · 26-01-2014 2:16pm

I think the Dublin price rise is a medium-term phenomenon, beyond which, nobody really know. There's so much scant information to know for sure how speculative the two-thirds cash purchases are, but we know anecdotally that a portion of it may be foreign buyers looking at the Irish rental market as a way to make good returns in the medium-term to beef up their cash reserves as things remain sluggish in the rest of Europe.

If that's true, then it's possible for prices to fall again.

The other factors being: (1) banks lending, (2) continued genuine domestic demand for family-size homes due to demographics, and (3) domestic migration [i.e. people moving to Dublin where there are more jobs].

All these factors are constantly fluctuating.

Outside Dublin, people know even less what's going to happen.

There's talk of commuter belt areas picking up, but that could be property agent gossip.

The thing is, if you concentrate on a specific area in which you would want to live (near your work, a nice place to live, close to family/friends) and see it as a long-term thing, then it may make sense for you to buy, but it definitely doesn't seem you need to be in any rush right now to do something about it.

Renting definitely does give you the flexibility you need when the time is right.

lukesmom · 26-01-2014 3:17pm

We bought last June for less than half of what the property was sold for previously. In the area we bought, property is asking for €40k extra than what we paid 7 months ago. I think we bought at the right time.

handlemaster · 26-01-2014 4:03pm

moonshadow wrote: »

190 k for a new 4 bedsemi in Drogheda with sunroom and utility room , 35 mins from the Liffey , Im happy!

Sunroom in Drogheda surely a mistake there

alias no.9 · 26-01-2014 4:22pm

RParker123 wrote: »

Is now a good time?

Been saving deposit waiting for good time.
Would probably buy outside Dublin, in Kildare or Meath.

if you find somewhere that will meet your needs for the next 10 to 15 years (preferably life) or can be adapted to meet your needs and you can afford to finance it, then yes, its a good time to buy. Once you've bought, all that really matters is the repayments, it doesn't really mean a whole lot that your neighbours house sells for more or less than you paid if you're not looking to sell.
The preoccupation with transaction prices through the boom when everybody thought they were millionaires and the bust when they thought they'd been robbed is a load of nonsense, notional profits and notional losses mean nothing if you're just buying a home for life. Don't put your life on hold if the right house is available and you can afford it but at the same time, don't buy a house just because you can afford it if you don't see a substantial part of your life living there.

26-01-2014 4:26pm

RParker123 wrote: »

Is now a good time?

Been saving deposit waiting for good time.
Would probably buy outside Dublin, in Kildare or Meath.

Slightly off topic, but I love the heading. So often TV presenters and prospective buyers refer to "The property" or "The house". I hope you have success and that you find your perfect "Home"

Good time to buy home

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