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Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

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    #3542
    poker--addict
    Registered Users Posts: 1,712 ✭✭✭poker--addict


    Did this only come to light when you explored insurance, or did you know and were surprised by the insurance company continued concern?

    I Have previously seen homes located in flood zones which are close to a stream that has never overflowed. Once it’s on the map as in flood zone the chance of getting map change and pragmatism is almost zero.

    It would be a concern that neighbours report the site has actually flooded. I would be interested to know what measures the builder has to take to get planning permission what view an independent professional would provide you on those. Biggest investment of your life, iI can see why you would pull out.

    😎



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    #3543
    Lia_lia
    Registered Users Posts: 6,691 ✭✭✭Lia_lia


    poker--addict wrote: »
    Did this only come to light when you explored insurance, or did you know and were surprised by the insurance company continued concern?

    I Have previously seen homes located in flood zones which are close to a stream that has never overflowed. Once it’s on the map as in flood zone the chance of getting map change and pragmatism is almost zero.

    It would be a concern that neighbours report the site has actually flooded. I would be interested to know what measures the builder has to take to get planning permission what view an independent professional would provide you on those. Biggest investment of your life, iI can see why you would pull out.

    There is a river right beside the development so I did question it with the estate agent when we first viewed but he listed out the flood defences and they sounded like they were enough. I also read the flood risk assessment document. It was a family friend that lives in the area that mentioned the site flooding before and our solicitor confirmed this as she’s from the area. I would say there isn’t a huge chance of it being flooded but who knows with climate change. Could also make it very difficult to sell the house if we ever wanted to.


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    #3544
    BrosnanL27
    Registered Users Posts: 122 ✭✭BrosnanL27


    Lia_lia wrote: »
    There is a river right beside the development so I did question it with the estate agent when we first viewed but he listed out the flood defences and they sounded like they were enough. I also read the flood risk assessment document. It was a family friend that lives in the area that mentioned the site flooding before and our solicitor confirmed this as she’s from the area. I would say there isn’t a huge chance of it being flooded but who knows with climate change. Could also make it very difficult to sell the house if we ever wanted to.

    Do you mind PMing me the estate name? I think we could be in the same boat. Thank you


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    #3545
    Bluefoam
    Registered Users Posts: 7,717 ✭✭✭Bluefoam


    My brother moved into a new house right opposite a river and flood plain... Flood protection was in place and he declared it when taking out insurance... He's living there for two years happily.


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    #3546
    Lia_lia
    Registered Users Posts: 6,691 ✭✭✭Lia_lia


    Bluefoam wrote: »
    My brother moved into a new house right opposite a river and flood plain... Flood protection was in place and he declared it when taking out insurance... He's living there for two years happily.

    Thanks for the reply. And he had no issues getting insurance with flood protection?


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    #3547
    Lia_lia
    Registered Users Posts: 6,691 ✭✭✭Lia_lia


    BrosnanL27 wrote: »
    Do you mind PMing me the estate name? I think we could be in the same boat. Thank you

    PM sent. Pun not intended I hope!


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    #3548
    BrosnanL27
    Registered Users Posts: 122 ✭✭BrosnanL27


    Lia_lia wrote: »
    PM sent. Pun not intended I hope!

    Gas - pun was not intended but can't help laughing or I'll cry :pac:


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    #3549
    Bluefoam
    Registered Users Posts: 7,717 ✭✭✭Bluefoam


    Lia_lia wrote: »
    Thanks for the reply. And he had no issues getting insurance with flood protection?

    I don't recall him having any difficulty with insurance...


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    #3550
    cnocbui
    Registered Users Posts: 19,767 ✭✭✭✭cnocbui


    Lia_lia wrote: »
    Currently have deposit on a new build in a new estate. Ready to sign contracts, house ready early next year, Kitchen designed, mortgage sorted, very excited about purchase. However we were notified that the house is in a high risk flood area.

    Can’t get house insurance that includes flood cover. There are loads of flood defences put in. We were told by locals that the site has flooded before but flood defences have been put in since. Houses are pretty much sold out and are very in demand. How are people not concerned about the flood risk? We are pretty sure we are pulling out. Any advice? What would you do?

    I'd walk away. Flood defences being inadequate and failing is not uncommon.


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    #3551
    jrosen
    Registered Users Posts: 1,629 ✭✭✭jrosen


    I would be very concerned about flood defenses. I have seen first hand where developers have said proper flood defenses have been put in place. The people who have to sand bag their homes when it rains have very different opinions.
    I wouldnt necessarily walk away but I would take the time to explore what level of flooding has happened in the past, what has been put in place.


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    #3552
    jelly&icecream
    Registered Users Posts: 477 ✭✭jelly&icecream


    I wouldn't have thought they'd let you draw down on the mortgage without adequate house insurance??


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    #3553
    Lia_lia
    Registered Users Posts: 6,691 ✭✭✭Lia_lia


    jelly&icecream wrote: »
    I wouldn't have thought they'd let you draw down on the mortgage without adequate house insurance??

    Mortgage is with Ulster bank who don’t actually require home insurance. Strangely enough!


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    #3554
    poker--addict
    Registered Users Posts: 1,712 ✭✭✭poker--addict


    there are 1000s of homes including mine which are insured but without flood insurance, it doesnt stop you getting home insurance, my bank never asked either.

    😎



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    #3555
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    So, if we move to level 5, I suppose building fully stops, right? I’m 6-8 weeks away from snagging my new property...


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    #3556
    Meandyou999
    Registered Users Posts: 39 ✭Meandyou999


    Looking at a 4 bed semi D in Munster, second hand new build home 4 years old. Price is 329k.
    Take home pay after tax is 3,200k per month. Have been mortage approved (joint application) have 50k deposit saved and few grand for solicitors fees outside of the deposit.
    My questions are:
    1. Is the house worth it? Same house sold for 269k 4years ago when it was built.
    2. Would i be able to afford to pay the mortgage back over 25 years on my pay.
    3. Am i making a big mistake are house prices going to crash?. I have a refundable deposit paid.

    Thanks.


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    #3557
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Meandyou999 wrote: »
    Looking at a 4 bed semi D in Munster, second hand new build home 4 years old. Price is 329k.
    Take home pay after tax is 3,200k per month. Have been mortage approved (joint application) have 50k deposit saved and few grand for solicitors fees outside of the deposit.
    My questions are:
    1. Is the house worth it? Same house sold for 269k 4years ago when it was built.
    2. Would i be able to afford to pay the mortgage back over 25 years on my pay.
    3. Am i making a big mistake are house prices going to crash?. I have a refundable deposit paid.

    Thanks.

    1. Check PPR for houses around. Do you like it? That is the main factor. Will it suit your needs?
    2. I think you should be able to afford it. Mortgage shouldn’t be much more than 1-1.2k/month
    3.who knows? If you’re planning to live in it for more than 10 years, I’d say you’ll be fine. If you’re quality of life and mental health are going to improve by living in your own home, I think that’s worth the risk


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    #3558
    Meandyou999
    Registered Users Posts: 39 ✭Meandyou999


    cubatahavana wrote: »
    1. Check PPR for houses around. Do you like it? That is the main factor. Will it suit your needs?
    2. I think you should be able to afford it. Mortgage shouldn’t be much more than 1-1.2k/month
    3.who knows? If you’re planning to live in it for more than 10 years, I’d say you’ll be fine. If you’re quality of life and mental health are going to improve by living in your own home, I think that’s worth the risk
    Mentally yes. Currently over the last numbers of years had to deal with bonfires in front of rented home. Broken window, eggs/fireworks thrown every halloween. Overhead neighbour's drinking and being loud banging til 6-7 in the morning every few nights. Having to walk pass gangs of scuts at time to get inside your own front door, pass junkies and scumbags intermittently going and coming. Living in a rat run. When its quiet its very quiet but when its bad its bad. Summer is the worst.
    Thanks.


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    #3559
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Meandyou999 wrote: »
    Mentally yes. Currently over the last numbers of years had to deal with bonfires in front of rented home. Broken window, eggs/fireworks thrown every halloween. Overhead neighbour's drinking and being loud banging til 6-7 in the morning every few nights. Having to walk pass gangs of scuts at time to get inside your own front door, pass junkies and scumbags intermittently going and coming. Living in a rat run. When its quiet its very quiet but when its bad its bad. Summer is the worst.
    Thanks.
    Well, I think that sums it up. Where are you living now?


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    #3560
    Meandyou999
    Registered Users Posts: 39 ✭Meandyou999


    cubatahavana wrote: »
    Well, I think that sums it up. Where are you living now?

    In munster south west area. Rather not say specifics.


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    #3561
    cnocbui
    Registered Users Posts: 19,767 ✭✭✭✭cnocbui


    Meandyou999 wrote: »
    Looking at a 4 bed semi D in Munster, second hand new build home 4 years old. Price is 329k.
    Take home pay after tax is 3,200k per month. Have been mortage approved (joint application) have 50k deposit saved and few grand for solicitors fees outside of the deposit.
    My questions are:
    1. Is the house worth it? Same house sold for 269k 4years ago when it was built.
    2. Would i be able to afford to pay the mortgage back over 25 years on my pay.
    3. Am i making a big mistake are house prices going to crash?. I have a refundable deposit paid.

    Thanks.

    If you had the cash, do you think you could buy the land and build an equivalent house for less?

    I don't think house prices will crash as there is a shortage of them. Even if it did happen, 10+ years from now, I doubt it will matter.


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    #3562
    PommieBast
    Registered Users Posts: 2,586 ✭✭✭PommieBast


    cubatahavana wrote: »
    So, if we move to level 5, I suppose building fully stops, right? I’m 6-8 weeks away from snagging my new property...
    Unclear. I vaguely remember something about tradepeople and construction having exemptions. The government has already diverged significantly from what constitutes the various levels as defined in the national framework.


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    #3563
    Whatdoyoumean
    Registered Users Posts: 18 ✭Whatdoyoumean


    Solicitor requested drawdown of the mortgage and hopefully getting keys to house this week. Not sure where possible new restrictions will leave us. What were other people’s experiences during lockdown and collecting keys/moving in?


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    #3564
    Bluefoam
    Registered Users Posts: 7,717 ✭✭✭Bluefoam


    Whatdoyoumean wrote: »
    Solicitor requested drawdown of the mortgage and hopefully getting keys to house this week. Not sure where possible new restrictions will leave us. What were other people’s experiences during lockdown and collecting keys/moving in?

    I believe that handover happened as normal... Housing people is a priority.


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    #3565
    cojomo2
    Registered Users Posts: 3,214 ✭✭✭cojomo2


    Anyone know how level 4 or 5 will impact house viewings?


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    #3566
    Meandyou999
    Registered Users Posts: 39 ✭Meandyou999


    cnocbui wrote: »
    If you had the cash, do you think you could buy the land and build an equivalent house for less?

    I don't think house prices will crash as there is a shortage of them. Even if it did happen, 10+ years from now, I doubt it will matter.

    I am not too familiar with the cost of land or the cost of building, i know you can have it built the way you like but it takes longer and heard it is alot of stress. Im no project manager so unless i win the lotto i wont be building a house.
    Thank you.
    I know there will always be the kind of people out there that will say did you hear about your man bought a house just before the crash and now its only worth half that. Hate people like that. Some people feel better in themselves when others are not doing so well. Think its an Irish trait.


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    #3567
    cnocbui
    Registered Users Posts: 19,767 ✭✭✭✭cnocbui


    Meandyou999 wrote: »
    I am not too familiar with the cost of land or the cost of building, i know you can have it built the way you like but it takes longer and heard it is alot of stress. Im no project manager so unless i win the lotto i wont be building a house.
    Thank you.
    I know there will always be the kind of people out there that will say did you hear about your man bought a house just before the crash and now its only worth half that. Hate people like that. Some people feel better in themselves when others are not doing so well. Think its an Irish trait.

    There are cost calculators: http://homearchitect.ie/costcalculator.html

    https://www.scsi.ie/advice/renewing_your_house_insurance_rebuild_calculator

    You can get a rough idea of land costs by looking on myhome.ie and daft.ie


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    #3568
    House Hunt
    Registered Users Posts: 59 ✭✭House Hunt


    What's the ideal height for block walls inbetween gardens of new builds? The higher the better for privacy but garden can feel quite boxed in if walls are too high. I'm buying a place which has around 11ft high block walls around the perimeter and it does feel a bit excessive.


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    #3569
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    House Hunt wrote: »
    What's the ideal height for block walls inbetween gardens of new builds? The higher the better for privacy but garden can feel quite boxed in if walls are too high. I'm buying a place which has around 11ft high block walls around the perimeter and it does feel a bit excessive.

    In my new build they’re around 1.8-2 meter high


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    #3570
    Meandyou999
    Registered Users Posts: 39 ✭Meandyou999


    cnocbui wrote: »
    There are cost calculators: http://homearchitect.ie/costcalculator.html

    https://www.scsi.ie/advice/renewing_your_house_insurance_rebuild_calculator

    You can get a rough idea of land costs by looking on myhome.ie and daft.ie
    I am getting a survey carried out on the house by a chartered surveyor, will he calculate the rebuild cost for me for when i am taking out house insurance. Also do i have to insure the house to cover the mortgage amount. If say i take out a mortgage of 250k and have put a deposit of 50k if God forbid i had to make a claim and they pay out the 250k mortgage is paid but i am left homeless.


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    #3571
    House Hunt
    Registered Users Posts: 59 ✭✭House Hunt


    cubatahavana wrote: »
    In my new build they’re around 1.8-2 meter high

    Ya I was thinking this would be the norm.


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