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17-10-2020, 17:10   #3556
Meandyou999
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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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17-10-2020, 17:42   #3557
cubatahavana
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Originally Posted by Meandyou999 View Post
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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17-10-2020, 17:56   #3558
Meandyou999
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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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17-10-2020, 18:23   #3559
cubatahavana
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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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17-10-2020, 18:54   #3560
Meandyou999
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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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17-10-2020, 20:09   #3561
cnocbui
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Originally Posted by Meandyou999 View Post
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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18-10-2020, 09:52   #3562
PommieBast
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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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18-10-2020, 13:39   #3563
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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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18-10-2020, 17:10   #3564
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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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18-10-2020, 17:16   #3565
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Anyone know how level 4 or 5 will impact house viewings?
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18-10-2020, 18:33   #3566
Meandyou999
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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.

Last edited by Meandyou999; 18-10-2020 at 18:35. Reason: spelling.
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18-10-2020, 19:07   #3567
cnocbui
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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_...ild_calculator

You can get a rough idea of land costs by looking on myhome.ie and daft.ie
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18-10-2020, 19:15   #3568
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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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18-10-2020, 19:17   #3569
cubatahavana
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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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18-10-2020, 19:24   #3570
Meandyou999
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Originally Posted by cnocbui View Post
There are cost calculators: http://homearchitect.ie/costcalculator.html

https://www.scsi.ie/advice/renewing_...ild_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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