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Have you purchased recently?

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124

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    #92
    mtarmey59
    Closed Accounts Posts: 16 ✭mtarmey59


    g


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    #93
    mtarmey59
    Closed Accounts Posts: 16 ✭mtarmey59


    u


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    #94
    Fighting Irish
    Registered Users Posts: 7,065 ✭✭✭Fighting Irish


    superflyninja wrote: »
    what do you mean? *genuine curiosity*

    Its the worst time to buy, so unless you're desperate you might as well wait it out a bit longer

    I always here people say "its my dream house" and "we got it for €300K and it was €420K last year"
    :rolleyes:


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    #95
    niallo27
    Registered Users Posts: 16,024 ✭✭✭✭niallo27


    Theboinkmaster wrote: »
    Crazy money - that will be less than €100k in 3-5 years

    yes but they could have up to 50 grand in rent payed by then, and is having to pay an extra 100 to 200 quid a month in a mortgage now than saving it in a few years worth it to be happy in a house you bought and can start a family in, its not all about money people, why does any one buy a 09 car, it loses 20% of value once you drive it out of the garage. this recession is great if you have and can keep your job, everything is cheaper, value everywhere.


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    #96
    SparkyLarks
    Registered Users Posts: 363 ✭✭SparkyLarks


    as I recent buyer when I hear , you should have waited, I think how lont 1 year 5 years 10 years. I've only another 70 or so years left( best case) and as and dufrane put it, you either get busy living or get busy dying.

    I'm going to get busy enjoying life in my new home.


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    #97
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    Its all relative to the person buying the house, which would you rather be a person earning 60k buying a house for 200k or a person earning 30k buying the identical house next door for 175k.
    The problem in this market is many people were priced out of an ideal home during the bubble days and now that prices have dropped, that house is within the budget (that the bank will lend them, and banks are still lending too much, just to less people) so they make that leap with 2006 prices ringing in their ears, all happy with the huge reduction they got.

    If everyone who purchased here quoted the price they paid and the price the house would have sold for in 1998 (the level prices will go back to, IMO), it might not look so good.

    But again its all relative, if you have a secure job, your income is 25% of the purchase price (a guide), you plan on living in the house FOREVER (assuming no relocation needed) and you have at least a 20% deposit, then its certainly not the worst time to buy and your PPR is not an investment, its a home, something that was sadly forgotten during the bubble.


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    #98
    Fighting Irish
    Registered Users Posts: 7,065 ✭✭✭Fighting Irish


    Senna wrote: »
    Its all relative to the person buying the house, which would you rather be a person earning 60k buying a house for 200k or a person earning 30k buying the identical house next door for 175k.
    The problem in this market is many people were priced out of an ideal home during the bubble days and now that prices have dropped, that house is within the budget (that the bank will lend them, and banks are still lending too much, just to less people) so they make that leap with 2006 prices ringing in their ears, all happy with the huge reduction they got.

    If everyone who purchased here quoted the price they paid and the price the house would have sold for in 1998 (the level prices will go back to, IMO), it might not look so good.

    But again its all relative, if you have a secure job, your income is 25% of the purchase price (a guide), you plan on living in the house FOREVER (assuming no relocation needed) and you have at least a 20% deposit, then its certainly not the worst time to buy and your PPR is not an investment, its a home, something that was sadly forgotten during the bubble.

    Its all relative i totally agree, but prices still have a long way to go

    Prices have dropped and people are delighted but a lot of people are buying because they are comparing the price they got the house to the price it was when it peaked

    All i'm saying is, if you're desperate for a house and can afford it fire away but prices are falling and will fall for some time


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    #99
    Freddie59
    Closed Accounts Posts: 6,679 ✭✭✭Freddie59


    am i bovvered wrote: »
    Friends bought... 4 bed semi detached in Mayo asking 225k paid 220k (It was 240k at the peak)

    Wow!:eek: Now THERE'S a bargain.:rolleyes::rolleyes::rolleyes:


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    #100
    Fighting Irish
    Registered Users Posts: 7,065 ✭✭✭Fighting Irish


    Senna wrote: »
    But again its all relative, if you have a secure job, your income is 25% of the purchase price (a guide), you plan on living in the house FOREVER (assuming no relocation needed) and you have at least a 20% deposit, then its certainly not the worst time to buy and your PPR is not an investment, its a home, something that was sadly forgotten during the bubble.

    I agree again except its still the worse time to buy. You could argue that buying at the peak was the worse time to buy but buying while prices are just beginning to drop properly makes no sense. I know its a home and not a house but its still the worse time to buy. :pac:


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    #101
    superflyninja
    Registered Users Posts: 1,859 ✭✭✭superflyninja


    Fighting Irish wrote: »
    Its the worst time to buy, so unless you're desperate you might as well wait it out a bit longer

    I always here people say "its my dream house" and "we got it for €300K and it was €420K last year"
    :rolleyes:

    ok i get ya. Its true though what the following posters have said.its not all about money. for example we are due to sign for our new house in the next week or so. We want a stable home for our daughter to grow up in.and actually be able to decorate her room etc.we are happy with the price and FOR US its the right time to buy.


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    #102
    astrofool
    Registered Users Posts: 16,641 ✭✭✭✭astrofool


    Fighting Irish wrote: »
    I agree again except its still the worse time to buy. You could argue that buying at the peak was the worse time to buy but buying while prices are just beginning to drop properly makes no sense. I know its a home and not a house but its still the worse time to buy. :pac:

    It can't still be the worst time to buy, it is a lot less worse than the peak, but a lot less better than the bottom (wherever that may be).


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    #103
    ronbyrne2005
    Closed Accounts Posts: 3,494 ✭✭✭ronbyrne2005


    superflyninja wrote: »
    ok i get ya. Its true though what the following posters have said.its not all about money. for example we are due to sign for our new house in the next week or so. We want a stable home for our daughter to grow up in.and actually be able to decorate her room etc.we are happy with the price and FOR US its the right time to buy.

    Kids seem to have stable homes all across continental Europe despite their parents renting homes long term. I'd rather save a few100k on house price and use it for childs education and buying them their own place in future.


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    #104
    superflyninja
    Registered Users Posts: 1,859 ✭✭✭superflyninja


    ronbyrne2005 wrote: »
    Kids seem to have stable homes all across continental Europe despite their parents renting homes long term. I'd rather save a few100k on house price and use it for childs education and buying them their own place in future.
    well rent is very expensive for us. we work on complete opposite sides of the city so to rent a house(it must be a house) in a suitable area is very very expensive.


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    #105
    Shambo
    Closed Accounts Posts: 44 ✭Shambo


    wandiwar wrote: »
    Wicklow - Asking 345,000 - offered 250,000 - agreed at 265,000

    You did well there.


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    #106
    dan_d
    Closed Accounts Posts: 2,819 ✭✭✭dan_d


    Just to make myself really feel better (!!!) about the fact that we bought last year, I was having a look at house prices today. I'm surprised at how much they've dropped!It seems to be localised to certain areas though....there are still some places that have fairly high prices for whatever reason. I'm looking at houses that were way out of our range last year, and are now well under our budget. The only thing is that this time last year, my job was a whole lot more secure than it is now.I'd say if we walked into a bank today and said we both work in construction, can we have a mortgage, we'd probably be laughed at!
    As a few posters have said, if it's right for you that's all that matters. We've bought a long term home - not a "starter home". And to be honest, once you've bought the house, that's it. It doesn't matter what the market is doing, unless you're hoping to try and sell at a profit.


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    #107
    ronbyrne2005
    Closed Accounts Posts: 3,494 ✭✭✭ronbyrne2005


    dan_d wrote: »
    Just to make myself really feel better (!!!) about the fact that we bought last year, I was having a look at house prices today. I'm surprised at how much they've dropped!It seems to be localised to certain areas though....there are still some places that have fairly high prices for whatever reason. I'm looking at houses that were way out of our range last year, and are now well under our budget. The only thing is that this time last year, my job was a whole lot more secure than it is now.I'd say if we walked into a bank today and said we both work in construction, can we have a mortgage, we'd probably be laughed at!
    As a few posters have said, if it's right for you that's all that matters. We've bought a long term home - not a "starter home". And to be honest, once you've bought the house, that's it. It doesn't matter what the market is doing, unless you're hoping to try and sell at a profit.

    No where is immune just denial is stronger in certain locations.


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    #108
    skippy15
    Registered Users Posts: 1,552 ✭✭✭skippy15


    Signed of house today- paid approx 55% of its advertised price 2 years ago... ye wanted the house as a home to live in for years so timing was right and great deal regardless of how market goes
    eg: if it dropped by another 10k this year and the year after the value wouldnt effect me as im happy to be in now and haven't overdebted myself in doing soecrack open the MOET!:D:P


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    #109
    ronbyrne2005
    Closed Accounts Posts: 3,494 ✭✭✭ronbyrne2005


    skippy15 wrote: »
    Signed of house today- paid approx 55% of its advertised price 2 years ago... ye wanted the house as a home to live in for years so timing was right and great deal regardless of how market goes
    eg: if it dropped by another 10k this year and the year after the value wouldnt effect me as im happy to be in now and haven't overdebted myself in doing soecrack open the MOET!:D:P
    well done.


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    #110
    Someday
    Registered Users Posts: 379 ✭✭Someday


    We like the area and this house has dropped 50K ina few weeks. Willing to pay about 400K though.

    http://www.myhome.ie/residential/search/brochure/24-talbot-court-old-navan-road-castleknock-dublin-15-castleknock-dublin-co&-city/OBAXW388240


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    #111
    Fighting Irish
    Registered Users Posts: 7,065 ✭✭✭Fighting Irish


    astrofool wrote: »
    It can't still be the worst time to buy, it is a lot less worse than the peak, but a lot less better than the bottom (wherever that may be).

    Yes but when it peaked, people didn't know it had peaked and didn't know a rec was just around the corner. Common sense wise, now is the worst time to buy. I don't know how else to put it :pac:


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    #112
    Fighting Irish
    Registered Users Posts: 7,065 ✭✭✭Fighting Irish


    dan_d wrote: »
    As a few posters have said, if it's right for you that's all that matters. We've bought a long term home - not a "starter home". And to be honest, once you've bought the house, that's it. It doesn't matter what the market is doing, unless you're hoping to try and sell at a profit.

    What is prices dropped dramatically and wages dropped dramatically, that would make a huge difference to anyone who bought recently


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    #113
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    Fighting Irish wrote: »
    Common sense wise, now is the worst time to buy. I don't know how else to put it :pac:

    Investment wise yes, as a home not necessarily. By your definition, it will be the worse time to buy for the next 5 years (i believe property will continue to drop till then, maybe only in nominal terms towards the end). For the wast wast majority of people it is a mistake to buy now, but property should be something that benefits your family and have an intrinsic value separate to the purchase price.
    Fighting Irish wrote: »
    What is prices dropped dramatically and wages dropped dramatically, that would make a huge difference to anyone who bought recently

    I would hope anyone buying now understands just how much money they will lose over the next few budgets. You would really need to allow for a 10% cut in current wages (high, but better to budget for more than less), a property tax (budget 1k, maybe less) and Eco tax (boll0x) probably 5% on all fuel bills. Thats only this year and wage deflation will continue, no-one is safe from that, regardless how safe or secure your job is.
    Add that to higher interest rates in 2010 (probably more like 2011) i hope everyone who bought, paid well within their means, i.e 4 times main earner plus 1 times second.


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    #114
    Declan1
    Registered Users Posts: 212 ✭✭Declan1


    Someday,

    Nice house but check out the plans for the freeflow M50 - Navan Rd junction!


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    #115
    dollydrops
    Closed Accounts Posts: 125 ✭✭dollydrops


    ronbyrne2005 wrote: »
    No where is immune just denial is stronger in certain locations.

    This is totally true esp in the areas that we are looking to buy.


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    #116
    astrofool
    Registered Users Posts: 16,641 ✭✭✭✭astrofool


    Fighting Irish wrote: »
    Yes but when it peaked, people didn't know it had peaked and didn't know a rec was just around the corner. Common sense wise, now is the worst time to buy. I don't know how else to put it :pac:

    You mean one should wait until the man on the street says it's time to buy again, before buying? Because the herd mentality always gets the best value?

    When it is the best time to buy, 90% of people will be saying don't buy. Now, it's not the best time to buy right now, but it is a far better time to buy now than it was 3 years ago.

    This is one area where common sense will betray someone.


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    #117
    Someday
    Registered Users Posts: 379 ✭✭Someday


    Thanks Declan, do you think I would get it for 380K in 18 months people ! Mrs is first time buyer and if we get married that goes, doesn't it ?


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    #118
    spockety
    Moderators, Education Moderators Posts: 5,468 Mod ✭✭✭✭spockety


    Someday wrote: »
    Thanks Declan, do you think I would get it for 380K in 18 months people ! Mrs is first time buyer and if we get married that goes, doesn't it ?

    I think you'd get it for less than 380K in 18 months personally, but don't base your purchasing decision on anything anyone here tells you. Do your own research, it's a huge purchase and you should make sure you have all the facts.

    As for marriage;

    As far as the revenue are concerned, you do not lose your First Time Buyers status if you get married. But only as long as you stick to the stamp duty exemption rules, i.e. you cannot receive a single penny from your spouse towards the deposit, mortgage, or anything else associated with the purchase of the house.

    The problem you will face when you get married is that banks won't lend on a family home to one individual of a married couple, and if your wife's name is on the mortgage, you lose your FTB status with the revenue.

    Not a problem if you're a cash buyer, obviously.


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    #119
    Someday
    Registered Users Posts: 379 ✭✭Someday


    Anyway around this if we get married, she is the FTB


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    #120
    astrofool
    Registered Users Posts: 16,641 ✭✭✭✭astrofool


    In a word, no :) Unless she purchases by herself, based on her earnings. You could go as a guarantor, at most, and your name would not be on the deeds.


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    #121
    spockety
    Moderators, Education Moderators Posts: 5,468 Mod ✭✭✭✭spockety


    Someday wrote: »
    Anyway around this if we get married, she is the FTB

    In short, no.

    Either way, whether you're married or not, for the Revenue to be satisfied, your Mrs will have to be the one buying the house entirely on her own, with all of her own money. Not a single cent can ever come from you to help with the deposit, or mortgage payments.


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