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Saving for a deposit on first house - complete novice need advice!

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    #62
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    ricman wrote: »
    I cannot see any fall in prices in clonsilla in the last year , i check prices once a month.There around 200/230k for a semi d 3bed.

    I won't call you a liar as its unethical. Have you installed Property bee toolbar?

    I see loads of price drops in Clonsilla. 66 3bed gaffs on offer right now on Daft.


    Below are the first 3 results. Too many to list.
    Reduced by 10k in the last 3 weeks http://www.daft.ie/1520610
    Reduced by 10k in Feb http://www.daft.ie/1494572
    Reduced by 20k since Jan http://www.daft.ie/1484395(it even says its reduced in ad)

    Search listing http://www.daft.ie/searchsale.daft?s%5Bcc_id%5D=ct1&s%5Ba_id%5D%5B%5D=204&s%5Broute_id%5D=&s%5Ba_id_transport%5D=0&s%5Baddress%5D=&s%5Btxt%5D=&s%5Bmnb%5D=3&s%5Bmxb%5D=3&s%5Bmnp%5D=&s%5Bmxp%5D=&s%5Bpt_id%5D=1&s%5Bhouse_type%5D=&s%5Bsqmn%5D=&s%5Bsqmx%5D=&s%5Bmna%5D=&s%5Bmxa%5D=&s%5Bnpt_id%5D=&s%5Bdays_old%5D=&s%5Bnew%5D=&s%5Bagreed%5D=&search.x=50&search.y=23&search=Search+%BB&more=&tab=&search=1&s%5Bsearch_type%5D=sale&s%5Btransport%5D=&s%5Badvanced%5D=&s%5Bprice_per_room%5D=


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    #63
    ZYX
    Registered Users Posts: 882 ✭✭✭ZYX


    gurramok wrote: »
    I won't call you a liar as its unethical. Have you installed Property bee toolbar?

    I see loads of price drops in Clonsilla. 66 3bed gaffs on offer right now on Daft.


    Below are the first 3 results. Too many to list.
    Reduced by 10k in the last 3 weeks http://www.daft.ie/1520610
    Reduced by 10k in Feb http://www.daft.ie/1494572
    Reduced by 20k since Jan http://www.daft.ie/1484395(it even says its reduced in ad)

    But he is saying prices are between 200 and 230K for a 3 bed house and not falling below this level. You have just quoted 3 properties with prices higher than this. Why?


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    #64
    dresstoimpress
    Registered Users Posts: 153 ✭✭dresstoimpress


    AARRRGH wrote: »
    I think your friend is spoofing. BOI's "minimum value" policy stands at €175,000 in Dublin, and between €125,000 and €150,000 elsewhere. That means it is not possible to get a mortgage of 95k with BOI. Ring them and ask...
    Just checked with her there, they have got the mortage from BOI. 92% on an old house on tipp costing 103,000. Maybe it changes, depending on circumstances, but they have theirs now.
    And no, I'm not going to ring the bank to check :rolleyes:


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    #65
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    ZYX wrote: »
    But he is saying prices are between 200 and 230K for a 3 bed house and not falling below this level. You have just quoted 3 properties with prices higher than this. Why?

    He said this - "I cannot see any fall in prices in clonsilla in the last year , i check prices once a month" and then a full stop with a new sentence "There around 200/230k for a semi d 3bed."

    I just quoted prices that had fallen in Clonsilla. He did not state "I have not seen prices falling in my price range 200k-230k in Clonsilla"

    As you're been pedantic and picking up the latter, here:
    http://www.daft.ie/1512211
    http://www.daft.ie/1493904
    http://www.daft.ie/1487522
    http://www.daft.ie/1447470
    http://www.daft.ie/1402021

    Happy now? :D


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    #66
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    I,ve been checking prices since 2008, prices in that area for a nice 3bed are on average between 210 and 230k.some stupid people have been pricing houses at 260, 270k ,thats their problem.THEY will not get a buyer ,so they have had to reduce the price to a more realistic level, so if you are saying EVERY home in dublin went down in value by say ten percent
    or more in the last year, then i say you are simply wrong.
    EVEN in 2009 there was some homes going for 270k, identical 3 bed semi d ,s were 220.Meanwhile down the road theres dozens of homes going 4 220k, so id have to say the 270k ones were overpriced.
    Statistics are complex, i cannot see even a 1 per cent drop in clonsilla in the last 12 months .SO i thinks its not helpful to the average buyer ,saying values dropped by 15percent as dublin is so big, it really has many economic zones.it ranges from 1million euro homes on the southside to a 2bed apartment
    in tallaght worth 120k.

    SAY you are buying in area x use daft.ie to look at say 20 3bed
    houses of similar spec /size, thats a good guide to average prices in the
    area.
    I,M not a ea or a seller so i have no interest in talking up the market.
    Even IN an economic crisis a 3bed home in rathmines is always gonna be worth more than a 3bed council house in talllaght.
    Theres places in dublin wheres theres no space left to build a house,
    therefore values there will probably stay at a certain level.

    IF you price your home too high you will not get a buyer, if there are
    dozens of identical houses for sale at a lower price in the same area.

    You might use statistics to say most people in a new york block are earning 80k pa,
    even though theres some people living there are earning 6k pa, they live in rent controlled flats.So they can afford to live in an upper class block.
    IF YOU are quoting a house going for 240k, then you are reinforcing my point.
    HOMES in that area have lost no value ,if you take 220k as a benchmark.
    You can use the net to check prices back to january 2009 if you don,t believe me.
    I dont install toolbars, i just look at daft.ie clonsilla.
    Perhaps its a sign of hope in the economy ,prices are not falling everywhere.


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    #67
    ZYX
    Registered Users Posts: 882 ✭✭✭ZYX


    gurramok wrote: »
    He said this - "I cannot see any fall in prices in clonsilla in the last year , i check prices once a month" and then a full stop with a new sentence "There around 200/230k for a semi d 3bed."

    I just quoted prices that had fallen in Clonsilla. He did not state "I have not seen prices falling in my price range 200k-230k in Clonsilla"

    As you're been pedantic and picking up the latter, here:
    http://www.daft.ie/1512211
    http://www.daft.ie/1493904
    http://www.daft.ie/1487522
    http://www.daft.ie/1447470
    http://www.daft.ie/1402021

    Happy now? :D

    I think you are the one being pedantic. The comment clearly was about house prices in general in Clonsilla. To say "I cannot see any fall in prices in clonsilla in the last year" clearly means general house price. By your logic he would have been happy if a 3 bed house had fallen from 5 million to 4 million as that would have been a price drop. :rolleyes:

    Also your links show 5 properties 3 of which are for sale at 199,000 which again is being pretty pedantic if you are trying to show house prices are less than 200K in Clonsilla. For the record Daft has 49 3 bed semi D properties on sale in Clonsilla of which 47 are for 199,000 or more.


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    #68
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    ZYX wrote: »
    I think you are the one being pedantic. The comment clearly was about house prices in general in Clonsilla. To say "I cannot see any fall in prices in clonsilla in the last year" clearly means general house price.

    ??

    General prices in Clonsilla, thats what he said. You're contradicting yourself by what you stated earlier...
    zyx wrote:
    But he is saying prices are between 200 and 230K for a 3 bed house and not falling below this level.

    And what you state now
    zyx wrote:
    The comment clearly was about house prices in general in Clonsilla

    I proved that there has been plenty of drops down to 230k, from 230k to 200k and sub 200k in the Clonsilla area. What have you proved?
    zyx wrote:
    Also your links show 5 properties 3 of which are for sale at 199,000 which again is being pretty pedantic if you are trying to show house prices are less than 200K in Clonsilla. For the record Daft has 49 3 bed semi D properties on sale in Clonsilla of which 47 are for 199,000 or more.

    So? Ain't that proves that some houses are available below 200k in Clonsilla and why is that a bad thing??

    And read the latest
    ricman wrote:
    i cannot see even a 1 per cent drop in clonsilla in the last 12 months

    To the both of you. Use the property bee toolbar to find the truth of the drops in the General Clonsilla Area, it shows that there have been drops of more than 1% in the General Clonsilla Area. That tool is used for a reason.


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    #69
    ZYX
    Registered Users Posts: 882 ✭✭✭ZYX


    gurramok wrote: »
    ??

    General prices in Clonsilla, thats what he said. You're contradicting yourself by what you stated earlier...


    And what you state now


    I proved that there has been plenty of drops down to 230k, from 230k to 200k and sub 200k in the Clonsilla area. What have you proved?




    So? Ain't that proves that some houses are available below 200k in Clonsilla and why is that a bad thing??

    And read the latest


    To the both of you. Use the property bee toolbar to find the truth of the drops in the General Clonsilla Area, it shows that there have been drops of more than 1% in the General Clonsilla Area. That tool is used for a reason.


    Now you are just doing this deliberatly. Just say it slowly. "They are talking about general price" and repeat 10 times:rolleyes:


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    #70
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    ZYX wrote: »
    Now you are just doing this deliberatly. Just say it slowly. "They are talking about general price" and repeat 10 times:rolleyes:

    Just say it slowly "they are not talking about prices between 200k & 230k, they are talking about general prices and repeat 11 times":rolleyes:


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    #71
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    YEAH ,I UNDERSTAND that ,re general price decline.The point i,m making is look at the area you are buying in, the price changes in killiney are of no interest to me ,im not interested in buying a 1million euro house there.Most people end up buying a 3bed semi d house in dublin ,or else cheaper apartments.Like the average person does not buy a bmw for 80k when buying a car.I wanted to make a point about a specific area.
    IF you have 1million to spend on a home you are unlikely to be buying a 2bed house in darndale.
    I WOULD not buy a bmw even if there was a 15per cent discount on the 2009 price.


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    #72
    leahyl
    Registered Users Posts: 14,275 ✭✭✭✭leahyl


    KP81 wrote: »
    Hey OP,
    I'll have a crack at answering your question which IMO was on savings and not the to buy or not to buy question.

    The 35 day deposit saver is a good rate at 3.1%AER. Put your lump sum here. Then open a regular saver in which you can save a max of e1000 per month but at the better rate of 3.75%AER (to absolutely max this lodge 1K first as the 3.5%AER rate applies to savings over 1k.

    Banks do like to see a regular history of savings for mortgage applications these days so start asap. e500 per month will build up nicley over a year or two. I wouldn't hurry as cash is king at the moment.

    Also, be ruthless. If a bank comes along with a better rate switch (unless it's in Iceland:)). It's dead easy with online banking (please say you do have online banking?). First Active used to have the best regular saver rate going at 7% but now UB have taken them over and the rate has dropped to 3.5%:(. I'm a bit of what is called a rates tart.

    Also bear in mind that you will get killed on DIRT which is 25% at the moment and this comes off your interest earned.

    Whatever you do good luck AND NEVER HOLD SAVINGS ON DEPOSIT, 0%AERARRRGH

    Well i did what you said today! I opened up the 35 day deposit account and put lump sum in there and also opened the 21 day regular saver in which i am going to put 500e every month. As well as that my mum has actually been putting away the money i gave her each month (without my knowledge) in a credit union account so i'm going to continue to put that money in there every month also so i'm saving quite a bit :)

    This thread seems to have descended into an argument about house prices in Clonsilla so i'll leave ye to it!

    Thanks to everyone who gave advice and help:)


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