Mortgages - would you want help?

ayjayirl

Hello everyone,

I am researching for a book I am writing on the influences on the decision making process when buying a new home. I wanted to put this up on boards to allow people to express their opinions on the subject. I am specifically interested in how mortgage repayments influence the decision. So in this vein, I want to pose the question to you all......

Would it influence your decision to buy a home if your were helped financially with the mortgage repayment?

I appreciate any response that you might be able to give. I want to get a true reflection on what people think about this as it will be in the book and although I think it would, I can't speak for everyone.

Thanks for your time

ntlbell

huh?

it'd be easier if they just dropped the price?

with all due respect, it's a pretty stupid question.

ayjayirl

Hi,

Thanks for your response. I couldn't agree more but price determination is seldem a decision that can even be made when dealing with Irish banks and usually the developer is quite tied to a specific price - especially these days. I am speaking with specific reference to new homes and not a private sale (of course this would make more sense to just lower the price if its just someone selling their home to move). If the price was set, would financial assistance in paying the mortgage influence the decision.

Please note, that I am open to all responses, the idea of this is capture the opinions of the general public on the issue.

Thanks again

ntlbell

ayjayirl wrote: »

Hi,

Thanks for your response. I couldn't agree more but price determination is seldem a decision that can even be made when dealing with Irish banks and usually the developer is quite tied to a specific price - especially these days. I am speaking with specific reference to new homes and not a private sale (of course this would make more sense to just lower the price if its just someone selling their home to move). If the price was set, would financial assistance in paying the mortgage influence the decision.

Please note, that I am open to all responses, the idea of this is capture the opinions of the general public on the issue.

Thanks again

but the builder can reduce the price of the new build right?

so your asking in a hypothetical situation where the land/house owner/builder can't for some reason reduce the price

and someone will give you a no strings attached hand out to buy the home?

come on.

D3PO

ayjayirl wrote: »

Would it influence your decision to buy a home if your were helped financially with the mortgage repayment?

This doesnt really work as a question as you are helped financially already with the mortgage payment as an FTB. Tax relief at source

also No / reduced rates of stamp duty and affordable house are also financial crutches already in place all be it not to the point of regular help with mortgage repayment

maybe if you were more specific on the question you might get a better response

s_carnage

ayjayirl wrote: »

If the price was set, would financial assistance in paying the mortgage influence the decision.

What sort of Financial Assistance do you mean? Would it be like a grant, loan from friend/relation or hand out from relation or friend who won the lottery??

Gurgle

ayjayirl wrote: »

Would it influence your decision to buy a home if your were helped financially with the mortgage repayment?

Nonsensical question.

johndaman66

Seems like a very boring idea for a book with all due respect but I suppose books have being wrote about a lot more menial subjects in the past. From my own point of view to answer your specific question it certainly would influence my decision to buy if I got financial assistance with paying the mortgage...depends how much financial assistance though.

For the broader subject of the book you could include a chapter on having the smell of freshly baked bread resonating when potential buyers are viewing. They used to say it worked wonders before but haven't heard it mentioned in the last few years so maybe it doesn't work anymore:p