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Dilemma-buy it now or wait?!

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  • 12-11-2008 1:38am
    #1
    Karlrove
    Registered Users Posts: 262 ✭✭


    Hi,theres a house I like and they listed it at 435k a few months back. It's brand new. 3 bed. the couple hace accepted 375k last week from us. However,while I really like it,should I wait. If I do,theres a chance the house could be sold to someone else...bit I might get another house down the line at much cheaper price(and yes that programme on tv3 scared me tonight). Thanks for views!


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    #2
    Dragon123
    Registered Users Posts: 16 ✭Dragon123


    You should definitely wait. Prices are dropping daily, and if you buy now you will probably be in negative equity in a few months. At the moment it is better value to rent a house and keep an eye on the market.

    Have a look at www.thepropertypin.com and you will get some great advice there.


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    #3
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    Karlrove wrote: »
    Hi,theres a house I like and they listed it at 435k a few months back. It's brand new. 3 bed. the couple hace accepted 375k last week from us. However,while I really like it,should I wait. If I do,theres a chance the house could be sold to someone else...bit I might get another house down the line at much cheaper price(and yes that programme on tv3 scared me tonight). Thanks for views!

    Are you not contradicting yourself there?

    What is it to you, cheaper price saving tens of thousands or forking out tens of thousands more to get your dream house?


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    #4
    Tom123
    Registered Users Posts: 250 ✭✭Tom123


    Karlrove wrote: »
    Hi,theres a house I like and they listed it at 435k a few months back. It's brand new. 3 bed. the couple hace accepted 375k last week from us. However,while I really like it,should I wait. If I do,theres a chance the house could be sold to someone else...bit I might get another house down the line at much cheaper price(and yes that programme on tv3 scared me tonight). Thanks for views!


    I think you would be absolutely crazy to buy a house right now. Especially if you are only getting a 15% reduction on the asking price.

    What was said in the TV3 show WILL happen and house prices will be much cheaper in 12 months.


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    #5
    egan007
    Registered Users Posts: 2,934 ✭✭✭egan007


    IT depends.

    Dont' be scared by tv programmes, they are there to get viewers not deliver useful information. EVERY case is different.

    If you intend to stay in this house long term (10 years)
    If the house is in an urban area / suburb.
    If you intend to work near it for the next 10 years.
    If you can easily afford the repayments.

    Then it's probably not a bad buy.
    There is an added bonus of no stamp duty on a new house, for the next 5 years..ish there will be a very low amount of new houses built.

    Are there holes in my proposal...yea...All i'm saying is to consider your situation and see if You can afford the house not the general population.


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    #6
    SimpleSam06
    Closed Accounts Posts: 4,048 ✭✭✭SimpleSam06


    egan007 wrote: »
    All i'm saying is to consider your situation and see if You can afford the house not the general population.
    He could probably afford a box of matches at €50 too, but would it be a good idea to buy at that price? Probably not.


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    #7
    egan007
    Registered Users Posts: 2,934 ✭✭✭egan007


    SimpleSam06 wrote: »
    He could probably afford a box of matches at €50 too, but would it be a good idea to buy at that price? Probably not.

    You should get a job on TV.


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    #8
    SimpleSam06
    Closed Accounts Posts: 4,048 ✭✭✭SimpleSam06


    egan007 wrote: »
    You should get a job on TV.
    Who says I haven't already got one? :p


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