Minor content rant...

NewFrockTuesday

Ive noticed a vibe in here that is manifesting itself more and more frequently - "anyone who wants to buy a house/flat is an idiot and dont buy and here are a hundred reasons why". Im getting tired of every question ending with the same statements. No matter what question is posed the "dont buy you fool" brigade come out in force. I understand that 99% of the time it is intended to be helpful, but lately its really all I see when anyone mentions that they want to buy. They have made the decision, need some advice and that advice is dispensed with a swift backhander of “Youre an eejit” comments.

Anyone daring to suggest that the market is not as black as night gets bashed - Sweet Sue in another thread is an expmple of this. We get it - youre not a fan of EAs. But is there any need to abuse the ones who do come on and declare themselves? It was very poor form tbh.




There are a few people who do actually want to buy, so why not help them with advice like usual instead of I told you so ramrodding all the time? Its wearing and its boring and it makes in here less fun to wander about in when you know how every thread is going to end.

Sorry. Rant over. Blame the sugar levels.

ntlbell

i think advising people not to throw away a few thousand euro is pretty sound.

NewFrockTuesday

Agreed...but not every time. We are all pretty aware that it will fall further but some people have made up their mind to buy now so why the need to say it?

Just reread...worst phrased post ever. Sorry folks, Ill dolly it up a bit later. Its just making a point really. Dont really expect any responses to it.

ntlbell

Deepsense wrote: »

Agreed...but not every time. We are all pretty aware that it will fall further but some people have made up their mind to buy now so why the need to say it?

Just reread...worst phrased post ever. Sorry folks, Ill dolly it up a bit later. Its just making a point really. Dont really expect any responses to it.

A lot of people are not aware and hear nonsense in papers and various media outlets that we're at the bottom etc and all want to jump.

if the poster explained there situation in their original post so we knew where they were at we could avoid giving them advice they may not want to hear.

EKRIUQ

The theme of this forum generally is,

Everybody if a fool who wants to buy.
No matter what the price is you should offer a maximum if 40%-55% of that price.
All and I mean All estate agents want to rob you.
Landlords are money grabbing bastids.
Everybodys opinion is right providing it agrees to the above if not your a fool and shouldn't be posting here.

Small Change

Q. Just went sale agreed on an apartment, can anyone suggest a good moving company?

A1. Don't do it!
A2. Have you been living in a cave, houses are way overpriced these days
A.3 EA imo
A4. More and more of these EA trolls about these days, take your schilling somewhere else

ionapaul

Small Change wrote: »

Q. Just went sale agreed on an apartment, can anyone suggest a good moving company?

A1. Don't do it!
A2. Have you been living in a cave, houses are way overpriced these days
A.3 EA imo
A4. More and more of these EA trolls about these days, take your schilling somewhere else

You are right, if someone has actually signed the contract and can't / doesn't want to back out, going on about the poor timing of their investment is unhelpful and unneccessary. A lot of people do not particularly care if they are seen as 'throwing away money', they are looking for a home and may want it as soon as possible.

I look on people buying new cars or paying extra for a brand as 'throwing away money' - but it is THEIR money and they can do with it as like want!

I do feel most of the posters here who warn about buying property now are not doing it to be unhelpful or to berate someone, most are genuinely trying to help - there are a lot of clueless people out there who might appreciate getting a slant different to the 'always a great time to buy', 'property has bottomed out', etc spin that the media carries!

ntlbell

I think there was a similar rant when the posts went a long the line's of

I'm buying a home

"buy two or three, get a portfolio together make a fortune! interest only and rent them out!! I'm pouring another glass of champagne posting from a deck chair in fiji!! waaaaaaay da lads"

swings and round abouts.

cyrusdvirus

There is also another thing to take into consideration, and this particular point applies to me anyway... I'm an FTB, have 2 houses to pick from in a suburb of Dublin, both within my price range. My complication (if you can call it that) is my age. I'm 33 now and approaching (what i percieve to be) the upper age limit for being granted a 35 year mortgage. So the nay-sayers and doom-peddlars don't fully understand my situation. I'm happy with the 2 houses that i need to pick one from. They are reasonably priced in my opinion, and will not be getting sold for a number of years, if ever. so even if the market continues to fall for another while, i'm content.

ntlbell

the doom sayers would probably say wtf are you doing getting a 35 year mortgage for anyway?

cyrusdvirus

ntlbell wrote: »

the doom sayers would probably say wtf are you doing getting a 35 year mortgage for anyway?

That'd be cos Ms. Crash isn't Mrs Crash yet, and her name is going nowhere near the deeds or anything like until such time as we meet at the top of a church type building!!

ionapaul

gatecrash wrote: »

That'd be cos Ms. Crash isn't Mrs Crash yet, and her name is going nowhere near the deeds or anything like until such time as we meet at the top of a church type building!!

Good luck with the purchase! I am of a similar age to you and will not seek a mortage term of longer than 30 years, preferably 25 years of course. I'd also plan on putting down at least 25% of the total in deposit - risk adverse, thy name is ionapaul!

ZYX

ntlbell wrote: »

the doom sayers would probably say wtf are you doing getting a 35 year mortgage for anyway?

Which proves how little they know. With interest rates so low the sensible thing to do is to get as long a term as you can (interest only if you could). Sensibly then put the amount you save over a 20year mortgage into a high earning account. Then you can always pay mortgage off early if you want to.

ntlbell

ZYX wrote: »

Which proves how little they know. With interest rates so low the sensible thing to do is to get as long a term as you can (interest only if you could). Sensibly then put the amount you save over a 20year mortgage into a high earning account. Then you can always pay mortgage off early if you want to.

will the interest you gain in a high interest account offset the thousands they'd lose by not waiting for prices to drop further?

the length of the mortgage has no relevance to current interest rates

what difference will a 35 year over a 20yr if your paying interest only and rates go back up in the next 6 months and the price of the house drops 30-50k?

paying low interest back on a 350k asset and gaining interest on a few quid you can manage to save...

right.

do you offer personal finance advice?

where do i sign up

Blackjack

ZYX wrote: »

Which proves how little they know. With interest rates so low the sensible thing to do is to get as long a term as you can (interest only if you could). Sensibly then put the amount you save over a 20year mortgage into a high earning account. Then you can always pay mortgage off early if you want to.

:eek::eek::eek:

ZYX

ntlbell wrote: »

will the interest you gain in a high interest account offset the thousands they'd lose by not waiting for prices to drop further?

the length of the mortgage has no relevance to current interest rates

what difference will a 35 year over a 20yr if your paying interest only and rates go back up in the next 6 months and the price of the house drops 30-50k?

Who said anything about now being a good time to buy. This thread is about people like you ntlbell.
I am simply saying 35 year mortgages can be a good idea. I do not have one. If I could change my current mortgage to a 35 year mortgage and keep my tracker rate I would certainly do so. In my situation it makes huge financial sense. That is what this thread is all about. People criticising others choices without knowing their situation

ntlbell wrote: »

paying low interest back on a 350k asset and gaining interest on a few quid you can manage to save...

right.

do you offer personal finance advice?

where do i sign up

If you don't understand how borrowing money at a low rate of interest and then saving it at a higher rate makes sense then you seriously need someone to give you financial advice.

ntlbell

ZYX wrote: »

Who said anything about now being a good time to buy. This thread is about people like you ntlbell.
I am simply saying 35 year mortgages can be a good idea. I do not have one. If I could change my current mortgage to a 35 year mortgage and keep my tracker rate I would certainly do so. In my situation it makes huge financial sense. That is what this thread is all about. People criticising others choices without knowing their situation



If you don't understand how borrowing money at a low rate of interest and then saving it at a higher rate makes sense then you seriously need someone to give you financial advice.

but your not just "borrowing" money and making money on it.

right _now_ taken the averge house price and the avg drops you're going to be loosing 20k+ a year on the asset.

your saving a much smaller amount of money?

e.g. your paying back 900e a month on the house paying interest on a 300k loan

your saving? the few quid you have left over at a higher rate? rate of interest on a much smaller sum?

so your paying back on a huge amount gaining on a smaller amount and are losing about 20k+ a year on the asset

again.

where do i sign up..

NewFrockTuesday

Jesus ntbell. Give it a rest. Ramrodding or trolling - I cant decide which.

stereo_steve

Ntlbell is not trolling. He backs up the points he makes.

Why do people post messages up here and then get annoyed when people offer their opinion?

ntlbell

Deepsense wrote: »

Jesus ntbell. Give it a rest. Ramrodding or trolling - I cant decide which.

If you have a problem with my posts, report them.

D3PO

ntlbell wrote: »

right _now_ taken the averge house price and the avg drops you're going to be loosing 20k+ a year on the asset.

.

not too dissimilar to when you buy a new car. Gosh why do people do it such a bad decision I mean its like throwing money away in depreciation.

Fact is people make decisions based on their personal and financial circumstances, when they ask for advise on buying coming out with dont buy is just a blind blanket statement. Try being helpful by giving the advise asked and not your opinion of things.

D3PO

stereo_steve wrote: »

Ntlbell is not trolling. He backs up the points he makes.

Why do people post messages up here and then get annoyed when people offer their opinion?

I dont think people are getting annoyed because of anybodys option. If somebody askes for particular information about buying a property they should be entitled to get answers relating to that rather than a barrage of dont buy or your an idiot type sentiment.

its not helpful and not what the person posting the thread wants. Now on the otherhand if somebody askes if now a good time to buy then fill your boots.

gurramok

D3PO wrote: »

not too dissimilar to when you buy a new car. Gosh why do people do it such a bad decision I mean its like throwing money away in depreciation.

Fact is people make decisions based on their personal and financial circumstances, when they ask for advise on buying coming out with dont buy is just a blind blanket statement. Try being helpful by giving the advise asked and not your opinion of things.

Car loans are usually 3-5yrs long.

House loans(mortgages) are 35yrs long as in Gatecrash's example. Bog difference between 20k loan and a 300k loan over a lifetime.

My complication (if you can call it that) is my age. I'm 33 now and approaching (what i percieve to be) the upper age limit for being granted a 35 year mortgage. So the nay-sayers and doom-peddlars don't fully understand my situation.

Yes we do, i'm in the same boat as you and around same age(34).

Gatecrash knows that the target houses are not getting sold in the short to medium term so gatecrash can wait for the prices to fall further and hence get a shorter mortgage term and a lower mortgage amount while saving at the same time.

You can save 10years by waiting maybe a year or two to buy, that simple.

That my friend is sound common sense.

NewFrockTuesday

ntlbell wrote: »

If you have a problem with my posts, report them.

Actually, my bad. I read the posts too fast and tought it was going down the previously mentioned alleyway again. Peace.

ntlbell

D3PO wrote: »

not too dissimilar to when you buy a new car. Gosh why do people do it such a bad decision I mean its like throwing money away in depreciation.

Fact is people make decisions based on their personal and financial circumstances, when they ask for advise on buying coming out with dont buy is just a blind blanket statement. Try being helpful by giving the advise asked and not your opinion of things.

I was using the example to show where depreciation would out weigh the gain on the interest on the small sum.

and I think anyone who buys a new car is an idiot anyway.

I don't say don't buy now my general advise is this.

If you can comfortably afford the house.

Have 20-25% deposit.

have stress tested against numerous interest rate increases

accounted for possibly loosing one income/starting a family etc

Can still lead the lifestyle you wish

have found an area your very happy with and would be willing to live there for 10+ years.

then it doesn't really matter when you buy.

your making it out like i'm some nazi, I'm a home owner I have no issues with people buying home's I just try an offer some advise so people don't land themselves up to their eyes in debt living somewhere they don't like

as i said all ready if people give more information in their posts we can give more advice.

D3PO

ntlbell wrote: »

I was using the example to show where depreciation would out weigh the gain on the interest on the small sum.

and I think anyone who buys a new car is an idiot anyway.

I don't say don't buy now my general advise is this.

If you can comfortably afford the house.

Have 20-25% deposit.

have stress tested against numerous interest rate increases

accounted for possibly loosing one income/starting a family etc

Can still lead the lifestyle you wish

have found an area your very happy with and would be willing to live there for 10+ years.

then it doesn't really matter when you buy.

your making it out like i'm some nazi, I'm a home owner I have no issues with people buying home's I just try an offer some advise so people don't land themselves up to their eyes in debt living somewhere they don't like

as i said all ready if people give more information in their posts we can give more advice.

if only the banks and people followed this advise over the last 8 years or so we wouldnt be in the mess we are in now !!

D3PO

ntlbell wrote: »

your making it out like i'm some nazi, I'm a home owner I have no issues with people buying home's I just try an offer some advise so people don't land themselves up to their eyes in debt living somewhere they don't like

.

Just to clarify I wasnt directing any of my posts at you despite quoting you. It was more a general comment against the dont buy now you idiot brigade.

ZYX

ntlbell wrote: »

but your not just "borrowing" money and making money on it.

right _now_ taken the averge house price and the avg drops you're going to be loosing 20k+ a year on the asset.

your saving a much smaller amount of money?

e.g. your paying back 900e a month on the house paying interest on a 300k loan

your saving? the few quid you have left over at a higher rate? rate of interest on a much smaller sum?

so your paying back on a huge amount gaining on a smaller amount and are losing about 20k+ a year on the asset

again.

where do i sign up..

Oh for Christ sake ntlbell. Read the posts first. We are not talking about whether to buy or not. The question is if you have decided to buy whether you get a 20 year mortgage or a 35 year mortgage or if you already have a mortgage whether it makes sense to change to a 35 year mortgage or not. The change in value of the property value makes no difference to this decision.

ZYX

D3PO wrote: »

not too dissimilar to when you buy a new car. Gosh why do people do it such a bad decision I mean its like throwing money away in depreciation.

Fact is people make decisions based on their personal and financial circumstances, when they ask for advise on buying coming out with dont buy is just a blind blanket statement. Try being helpful by giving the advise asked and not your opinion of things.

No it is not. It is like after you decide to buy a car how do you decide who to borrow the money from, over what period and at what rate.

ntlbell

ZYX wrote: »

Oh for Christ sake ntlbell. Read the posts first. We are not talking about whether to buy or not. The question is if you have decided to buy whether you get a 20 year mortgage or a 35 year mortgage or if you already have a mortgage whether it makes sense to change to a 35 year mortgage or not. The change in value of the property value makes no difference to this decision.

look you made statements that made no sense at all.

now you want to accuse me of changing the subject address my points please and educate us on this borrowing at one rate putting it into a depreciating asset and saving the rest to make money.

I'm all ears.

ZYX

ntlbell wrote: »

look you made statements that made no sense at all.

now you want to accuse me of changing the subject address my points please and educate us on this borrowing at one rate putting it into a depreciating asset and saving the rest to make money.

I'm all ears.

OK to use the example I gave already; I own a house. I have a tracker mortgage rate of 1.9%. My mortgage has about 15 years to go. If I could now remortgage at 1.9% tracker over 35 years I would certainly do this. If I put this on deposit at 4% (after dirt) that means I earn 2.1% more on my savings. As long as the interest on my savings is higher than my mortgage rate then it makes sense. Once mortgage rates go higher I then I take out my savings use it to pay off some of mortgage and increase my monthly mortgage payments. Whether my house goes up or down in value makes no difference as I own the property whether I have a 20 year mortgage or a 35 year mortgage. (Obviously the savings could be much higher if you use the money to reduce other loans)

That is the whole point of this thread. People make decisions that suit them. Others then dive in without knowing the persons circumstances and basically tell them they are stupid.