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Offers on Houses: first time buyer, first offer on a house

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  • 10-05-2009 1:17pm
    #1
    newbie1234
    Registered Users Posts: 18 ✭


    Any suggestions:

    House is advertised as being worth 375,000: Any suggestions (from people who have bought homes) for what would be a good first offer?

    HOUSE IN ARTANE, DUBLIN 5
    3 BED
    COBBLELOCK DRIVEWAY
    GFCH
    DIGITAL ALARM
    SEMI-HARDWOOD AND LAMINATED FLOORS THROUGHOUT
    SOUTH FACING REAR GARDEN
    GARAGE TO SIDE

    Thanks :D


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    #2
    kippy
    Registered Users Posts: 18,583 ✭✭✭✭kippy


    Have a read through some recent posts in this forum.
    You havent provided ANYWHERE near enough information for starters.
    Look through the other posts to see what you need to keep in mind.
    Kippy


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    #3
    TheInquisitor
    Closed Accounts Posts: 1,530 ✭✭✭TheInquisitor


    Location, advertised anywhere on internet where we can have a look?


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    #4
    Westwood
    Registered Users Posts: 535 ✭✭✭Westwood


    show us the add were hardly going to undercut you for god sake :rolleyes:


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    #5
    newbie1234
    Registered Users Posts: 18 ✭newbie1234


    Westwood wrote: »
    show us the add were hardly going to undercut you for god sake :rolleyes:

    Im just looking for an general idea!!!!!!!!!! Theres more than one property that we ve been looking at.


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    #6
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,505 Mod ✭✭✭✭johnnyskeleton


    newbie1234 wrote: »
    Im just looking for an general idea!!!!!!!!!! Theres more than one property that we ve been looking at.

    It sounds like an all round average 3 bed semi in an alright Dublin suburb. What do you think your average punter who might live in a house such as this with a wife and kids would be earning at the moment. Multiply that by what you think is an appropriate salary multiple, and then you have close to your answer. I can see such houses going as low as €100-150k, but the most important thing is that you do your own calculations as it will be you who makes the ultimate decision.


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    #7
    Mugatu
    Closed Accounts Posts: 58 ✭✭Mugatu


    johnnyskeleton wrote: »
    It sounds like an all round average 3 bed semi in an alright Dublin suburb. What do you think your average punter who might live in a house such as this with a wife and kids would be earning at the moment. Multiply that by what you think is an appropriate salary multiple, and then you have close to your answer. I can see such houses going as low as €100-150k, but the most important thing is that you do your own calculations as it will be you who makes the ultimate decision.

    Meaning at 100k with an 8% deposit you could pay off your mortgage in 5 years if you have an alright job.


    3 Year Fixed 3 €1,657.21 3.10% 2 €1,653.80 2.90% 3.14% €1,603.64;)

    Install property bee and have a look at the history of the house. See what other houses have sold for in the area and bid what you can comfortably afford. Take one of the many mortgage calculators on-line and stress test the repayments. Oh and good luck!!


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    #8
    TheInquisitor
    Closed Accounts Posts: 1,530 ✭✭✭TheInquisitor


    www.daft.ie/1443743

    Another house in same area being sold for 140k less and im sure you could still haggle!! 375k is way way too much. Their still dreaming if they think they'll get even 300k


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    #9
    SoupyNorman
    Registered Users Posts: 4,257 ✭✭✭SoupyNorman


    TheInquisitor wrote: »
    www.daft.ie/1443743

    Another house in same area being sold for 140k less and im sure you could still haggle!! 375k is way way too much. Their still dreaming if they think they'll get even 300k


    "The property which is in need of some refurbishment"

    and the below can be struck out...

    newbie1234 wrote: »
    Any suggestions:

    House is advertised as being worth 375,000: Any suggestions (from people who have bought homes) for what would be a good first offer?

    HOUSE IN ARTANE, DUBLIN 5
    3 BED
    COBBLELOCK DRIVEWAY
    GFCH
    DIGITAL ALARM
    SEMI-HARDWOOD AND LAMINATED FLOORS THROUGHOUT
    SOUTH FACING REAR GARDEN
    GARAGE TO SIDE

    Thanks :D



    ...so not really a good comparison.


    OP, it's not the time to buy but if you're dead set on it then I reckon you could offer as low as €295k.


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    #10
    jetski
    Registered Users Posts: 820 ✭✭✭jetski


    295 to be precise... how did you come to that figure?


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    #11
    SoupyNorman
    Registered Users Posts: 4,257 ✭✭✭SoupyNorman


    jetski wrote: »
    295 to be precise... how did you come to that figure?


    Plucked it out of the sky, and by doing it that way you be sure that it's a damn sight more accurate then EA valuations.


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    #12
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,505 Mod ✭✭✭✭johnnyskeleton


    Mugatu wrote: »
    Meaning at 100k with an 8% deposit you could pay off your mortgage in 5 years if you have an alright job.

    You could buy it outright if you are a millionaire though. €1600 a month is quite a lot of money on a single income if you have kids to feed.

    Also, 3 bed houses in Tallaght are already selling in that range: www.daft.ie/1375214 so there is no reason why they can't sell in that range in Artane in a few years time too.


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