How did you decide?

Daisy78 · 27-09-2015 3:23pm #1

Hi all

Would appreciate some advice on this, particularly from first time buyers who have recently purchased a property. I'm a fiirst time buyer looking to buy a property in the next 6 months or so in Dublin. Broadly speaking I know what I like or rather what I don't want and understandably will be constrained to a large extent by my budget. However I'm finding it difficult to decide on how I approach the whole house hunting exercise and what type of properties I should be looking at. As I work in the city centre I would like to buy within the city environs, long distance commuting is not for me. Looking at properties online for the last year or so it's come down to buying a nicer 2 bed closer to the city centre versus a larger 3 bed further out and possibly in a slightly less desirable area. If I was making this decision a year ago I would plump for the two bed as that suits my needs right now. However with the new CB rules I'm conscious of the need for the larger deposit second time round and I'm concerned that if I do need more space in years to come, a larger property would be beyond my reach financially. Also there will be nil in the budget for any major house Improvements one the mortgage is drawn down , not that I'm unwilling but financially I could only do this on an ongoing basis rather than a major renovation.

So my question is this...how did you decide on which property was right for you? Did you have a checklist? Was it a case of this house just feels right and meets my needs for the short to medium term. Given the new rules would you be inclined to look at the longer term picture or is that a bit ott at this stage? Any advice would be welcome.

dori_dormer · 27-09-2015 4:10pm

I'd go for the 3 bed. You never know what curve balls life will throw at you. If you can't move house in the future, the extra space will be invaluable. You could start a family in a 3 bed and also have an office, or rent out a room if you got stuck financially. I know that's all true in the 2 bed also but it'll be more cramped.

My sister bought a 3 bed in a less desirable area a few years ago, they planned to move the bathroom back upstairs in the way of an ensuite. There were issues, so she had to put the bathroom in the box room. Now she's down to 2 bedrooms and is upset that she'll have to move if she has more than 2 kids (the 2nd bedroom is a box room)
But the plan was to buy somewhere they could potentially stay forever if need be.

What's your age range? Are you buying alone? Have you a partner to consider at all?

I bought an apartment years ago and when we had a baby it was soooo cramped. We are house hunting now and all I want is space. But some people aren't horders like me and my OH...

MarkAnthony · 27-09-2015 4:11pm

I wouldn't be too worried about the CB rules in the future. Given the income requirements a mortgage shouldn't leave you too badly off; certainly if you can't afford to save post move you've over stretched yourself IMHO.

Although being in a chain is possibly the biggest pain in the ho... neck ever imagined, the equity in your current home will form the deposit for the new home should you wish to move.

As for picking the right property, I had a checklist in my head. I did a lot of research on areas and went for somewhere 'less desirable' but that I was fairly confident was grand. I wanted a larger house (3+ beds two sitting rooms, large kitchen and dining room) and I had around 300K so it was a case of sacrificing living smack bang in the city. That said I had done that for 10+ years in an apartment so got that out of my system!

That said I'm 20 mins on the Dart to Grand Canal Dock where I work so happy days.

Roselm · 27-09-2015 4:21pm

I bought last year. I had a list of must haves eg big garden, max commute time of X, near to schools I would want to send my kids to.
And then other things that I would have liked but didn't get in the end (I'm mid terrace and in a nice area that I hope stays nice as it's right beside a slightly rough area).
I was thinking long term so that I'm ok if I can't afford to move in the future. So I would also go for the 3 bed if I was you

27-09-2015 4:24pm

If you have already established what you want and don't want, that's a good start. Just don't make the mistake of looking at places that do not tick the 'essentials' boxes, you will waste time and frustrate yourself.

For me, there were a few non-negotiables.
I did not want an apartment or a duplex.
I did not want to live where there was no off-street parking, or shared spaces.
I did not want to pay management fees.
I wanted a decent garden, I wanted a house and I had to be near decent, regular transport links.
I wanted to be able to walk to a shop, bus stop, chemist, doctor, etc.
I wanted a house that didn't need major renovation. I did not have the time or money for a doer-upper.
I checked out the local primary and secondary schools and their catchment areas. While there were no kids on the horizon at the time, I couldn't discount that there might be in the future.
I also wanted to buy the biggest property within my budget and I am so glad I did because I subsequently got married and had those kids and we have plenty of room.

I could have bought a smaller home in a more 'hipster' area closer to the city centre but we would now be squashed into it with a tiny garden and battling to park our car on the street.

While it makes sense to suit your needs right now it's not ideal to ignore possible future needs.
Speak to anyone who has sold a home and bought another and they'll tell you it can be incredibly stressful. It's also a very expensive business - conveyancing costs for selling and buying, stamp duty, surveyor's fees, estate agent fees and the actual moving process are costly.

The market in Dublin is not for the faint hearted, it is in a different universe to the rest of the country. Cash buyers are king and even when they underbid they are getting the properties they're after. You need a thick skin to deal with estate agents in Dublin, so do not get emotionally attached to any property!

digiman · 27-09-2015 5:47pm

Deleted User wrote: »

If you have already established what you want and don't want, that's a good start. Just don't make the mistake of looking at places that do not tick the 'essentials' boxes, you will waste time and frustrate yourself.

For me, there were a few non-negotiables.
I did not want an apartment or a duplex.
I did not want to live where there was no off-street parking, or shared spaces.
I did not want to pay management fees.
I wanted a decent garden, I wanted a house and I had to be near decent, regular transport links.
I wanted to be able to walk to a shop, bus stop, chemist, doctor, etc.
I wanted a house that didn't need major renovation. I did not have the time or money for a doer-upper.
I checked out the local primary and secondary schools and their catchment areas. While there were no kids on the horizon at the time, I couldn't discount that there might be in the future.
I also wanted to buy the biggest property within my budget and I am so glad I did because I subsequently got married and had those kids and we have plenty of room.

I could have bought a smaller home in a more 'hipster' area closer to the city centre but we would now be squashed into it with a tiny garden and battling to park our car on the street.

While it makes sense to suit your needs right now it's not ideal to ignore possible future needs.
Speak to anyone who has sold a home and bought another and they'll tell you it can be incredibly stressful. It's also a very expensive business - conveyancing costs for selling and buying, stamp duty, surveyor's fees, estate agent fees and the actual moving process are costly.

The market in Dublin is not for the faint hearted, it is in a different universe to the rest of the country. Cash buyers are king and even when they underbid they are getting the properties they're after. You need a thick skin to deal with estate agents in Dublin, so do not get emotionally attached to any property!

Where is this place that you moved to? My checklist and yours are quite similar.

Wompa1 · 28-09-2015 7:49pm

If it's ok, I'll piggy back off of this topic since it's some what aligned with what I would like to ask.

I see some other posts about people speaking of the asking price of the home and what they offered. Sometimes up to 50k less than the asking price. Does anybody have a rough guideline of what kind of offer you should go in with.

I see homes in very rural areas that are not a reasonable commute from any city that are going for 250k+, they are nice homes but I would think with such little prospects jobwise in the area and so few amenities that would reflect in offering much less than 250k...or is that not the right logic to use?

I know, you should also maybe look at the energy rating and amount of money you need to put into the house to factor into what you'll offer but if anybody has a rough guideline for buying outside of the city areas. I'd love to read it! Thanks.

MarkAnthony · 28-09-2015 8:03pm

You've no idea what's going through a vendors head I'm afraid, usually it's something akin to the closing sequence of Count Duckula.

Wompa1 · 28-09-2015 8:06pm

MarkAnthony wrote: »

You've no idea what's going through a vendors head I'm afraid, usually it's something akin to the opening sequence of Count Duckula.

Had seen people suggesting looking at homes in the same area and going off of that. Which is tougher if it's out in a rural area.

People also said look at what people pay for rent in the area. Which is also tougher when it our rural.

I'm thinking of holding off for a few years anyways. It seems like homes are still a bit overpriced, imo

spuddy · 28-09-2015 8:51pm

Great idea for a thread, here are the things which were crucial to us:
1) <10 min walk to reliable public transport
2) <10 min walk to local amenities (shop, pub, park)
3) Able to take public transport to work

Nice to haves:
1) House > Duplex / large apartment (with maintenance fee)
2) <=30 min commute via PT (door to door)
3) >=B3 energy rating [i.e. well insulated]

In the end we got all our crucials and 2/3 nice to haves (we picked 1 in lieu of 2 [+10 mins on the commute], but also got 3 by doing so).

Knock on benefits:
1) >Money in our pockets / Greener - only one car needed, < capital tied up, insurance, tax, depreciation. Energy efficient house means < heating bills
2) >Productivity - no time wasted sitting in traffic, use it for reading, keeping in touch with friends, catching 40 winks on occasion.
3) >Exercise - walk 10k steps a day when taking PT, vs 3-4k when taking the car

quietsailor · 28-09-2015 9:11pm

If your mind works in a mathamatical way it might be a good idea to set up an excel sheet with a list of the points you like - distance to work, no of bedrooms, big garden, schools close by, parking, general appearance of the street etc.

Maybe divide the points into 2 or 3 sections; must haves, nice to haves, good to have but not necessary (tesco nearby could be an example of this)

Every time you go to look at a property assign a value between 1 & 100 to each point and sum up the values for each property - sum up by section and then overall.

You'll probably still still make the purchase based in a small way on gut feel -- " I LIKE this house" but it will be useful to show you why you like that particular house

Daisy78 · 28-09-2015 9:33pm

Thanks everyone for your comments and obvs on this. I'm mid 30,s, female and will be buying on my own. I guess the whole thing is a bit of a gamble really but I've no idea on how to approach this. I sometimes see a house within my budget and think that's a good buy, I'd go for that. Then a couple of weeks later I see another property, very different from the previous one and I think maybe that's the one to go for. I'm looking for a house that feels right, that I enjoy living in but at the same time I know my head has to come out on top realistically. The funny thing is I think there is much better value to be had with 3 beds at the moment so I'm veering in that direction. My only concern is I get stuck with a larger property in the suburbs that I can't financially maintain and which makes socialising that little bit more difficult because of the distance.

At the same time I'm done with renting. Certainly done with house shares if not renting in general. I guess I feel I'm at the right place in my life to do this regardless of where the market is at in terms of property prices.

riclad · 29-09-2015 6:23am

Usually the closer you get to the city centre the smaller the garden is,
some houses just have a small back yard .
I think for most people a 3bed house is a good idea, unless you can find a
2bed house that is much cheaper than a 3bed house.
cabra is close to the city centre ,and many house,s there have large gardens.

pwurple · 29-09-2015 10:49am

Three most important things to look for are Location, location and location.

Pick the one in the better place.

MarkAnthony · 29-09-2015 11:06am

pwurple wrote: »

Three most important things to look for are Location, location and location.

Pick the one in the better place.

Wasn't this originally about Hotels - it's been co-opted into housing and frankly it's nonsense for the most part. You decide what your requirements are and then look at the locations you can afford. If the area is 'nice enough' but not the nicest you can afford you may decide to go for a 'lesser' area to get a better house.

Personally I think 90% of the Irish housing 'crisis' when it comes to buying is this sense of entitlement that everyone thinks they should be living in Foxrock. Many would be happier in a nicer house in Foxfield.

L1011 · 29-09-2015 11:14am

I wanted somewhere with gas heating, double glazing and UPC available

I got the latter only.

MarkAnthony · 29-09-2015 11:16am

L1011 wrote: »

I wanted somewhere with gas heating, double glazing and UPC available

I got the latter only.

Actually broadband was one of the first things I checked too! Don't overlook the little stuff OP.

Easyliving · 29-09-2015 11:47am

We wanted...

1. A decent 3 bed
2. With a decent garden
3. Within 10k of Dublin
4. Nice area with good schools
5. Safe family friendly area

We got all we wanted, by saving longer. The OH would like it a bit bigger but still content and we have the option to extend.

pwurple · 29-09-2015 2:57pm

MarkAnthony wrote: »

Wasn't this originally about Hotels - it's been co-opted into housing and frankly it's nonsense for the most part. You decide what your requirements are and then look at the locations you can afford. If the area is 'nice enough' but not the nicest you can afford you may decide to go for a 'lesser' area to get a better house.

Personally I think 90% of the Irish housing 'crisis' when it comes to buying is this sense of entitlement that everyone thinks they should be living in Foxrock. Many would be happier in a nicer house in Foxfield.

You completely misinterpret me, and I don't know the difference between foxfield and foxrock as I'm from the other city in this country.

Location is about your available services, and your commute. I previously had a minimum 30 minute commute. I moved to within a 5 minute walk from my main office, and a 15 minute drive from most of my clients. My children walk to school. The difference in our quality of life this has made is enormous. A well chosen location has a far bigger impact on our lives than an extra bedroom.

Top of any requirements list should be what you need around your house. Your environs. Your location. The rest is trimmings.

Ursus Horribilis · 29-09-2015 3:20pm

The area was a big thing for me. This is going to sound very Hyacinth Bucket but I didn't want to live in an estate where they wear pyjamas in the daytime. I took a good look at the cars, how well the other houses were kept, what the kids playing outside were like.

MarkAnthony · 29-09-2015 3:47pm

pwurple wrote: »

You completely misinterpret me, and I don't know the difference between foxfield and foxrock as I'm from the other city in this country.

Location is about your available services, and your commute. I previously had a minimum 30 minute commute. I moved to within a 5 minute walk from my main office, and a 15 minute drive from most of my clients. My children walk to school. The difference in our quality of life this has made is enormous. A well chosen location has a far bigger impact on our lives than an extra bedroom.

Top of any requirements list should be what you need around your house. Your environs. Your location. The rest is trimmings.

To be fair what you said could have been taken any number of ways such was the lack of content. I still have to disagree with your position. What is most important is the house meeting your requirements, location is easily sorted by the bus in Dublin. But I take your point it might be different in other more rural parts.

pwurple · 29-09-2015 4:04pm

MarkAnthony wrote: »

To be fair what you said could have been taken any number of ways such was the lack of content. I still have to disagree with your position. What is most important is the house meeting your requirements, location is easily sorted by the bus in Dublin. But I take your point it might be different in other more rural parts.

My point wasn't about rural. I live in a city with a busstop outside my front door. That was part of our location requirements. I do not agree that location is easily sorted by a bus. If you're on the wrong side of a city for your work/school/daily activity, your life is undeniably poorer quality than living nearer.

Have you ever taken a small child and a baby on a bus on a school run I wonder, brought the baby on another stop to a creche, and then continued on to work somewhere else? Because this is what happens when people don't consider their location carefully. They end up getting quite stressed if any part of that transportation network fails, and spend many pointless hours every week moving themselves from one place to another, instead of spending that time with their friends or family.

MarkAnthony · 29-09-2015 4:10pm

pwurple wrote: »

My point wasn't about rural. I live in a city with a busstop outside my front door. That was part of our location requirements. I do not agree that location is easily sorted by a bus. If you're on the wrong side of a city for your work/school/daily activity, your life is undeniably poorer quality than living nearer.

Have you ever taken a small child and a baby on a bus on a school run I wonder, brought the baby on another stop to a creche, and then continued on to work somewhere else? Because this is what happens when people don't consider their location carefully. They end up getting quite stressed if any part of that transportation network fails, and spend many pointless hours every week moving themselves from one place to another, instead of spending that time with their friends or family.

Ever raised a 14 kids in a one bed apartment was my point. Location is definately an important factor but it's not the most important.

pwurple · 29-09-2015 5:01pm

MarkAnthony wrote: »

Ever raised a 14 kids in a one bed apartment was my point. Location is definately an important factor but it's not the most important.

Lol. Can we come back to the real world or even the question at hand?

This is a person with no kids, asking about a 2bed vs a 3 bed. Not someone with 14 kids looking for a 1 bed or a 14 bed.

MarkAnthony · 29-09-2015 5:04pm

pwurple wrote: »

Lol. Can we come back to the real world or even the question at hand?

This is a person with no kids, asking about a 2bed vs a 3 bed. Not someone with 14 kids looking for a 1 bed or a 14 bed.

Roflcopter, yes if you like. I disagree location is the most important factor. Had your original post contained more than a cliche I possibly wouldn't have picked you up wrong.

eezipc · 29-09-2015 5:07pm

You can have all the checklists you want but if you see a house you like, you will probably go for it.
I had a few checklists and in the end I ended up buying a house for alot cheaper but further away. I figured it would be worth it in the long term and I hope I'm right.
However, broadband was a must for me because of my work. I have very slow broadband right now but it's due a fibre upgrade next summer so I just went for it.

How did you decide?

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