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Buying a House - Size of deposit and Questions to ask.

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  • 20-08-2011 10:02pm
    #1
    Guest999
    Closed Accounts Posts: 3 ✭


    I'm looking at buying my first place and I was hoping people can help me with a few questions before I approach my bank for approval.

    1) Deposit for House - I'm looking at a purchase price of max 120k which would be 3 times my salary. How much of a deposit should I have for this kind of house purchase (Obviously more is better) and how much in addition to this will I need to cover other costs like legal fees etc...?

    2) when I buy a house what things do I need to look out for/ask? i.e. check if showers are electric, will all furniture be included in the house purchase, condition of pluming/electrics

    What other things should I look out for?


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    1. Deposit- its typical at the moment for a lender to seek a 15% deposit for a house and up to a 40-50% deposit for an apartment (many lenders won't lend at all for apartments, irrespective of the price).

    2. What comes with the sale? Well- unless its expressly stated- its entirely possible that absolutely nothing comes with the sale. You need a schedule in advance of what is and what is not included with the sale. Its annoying but not unusual for a house to have absolutely nothing with it- and in some cases, even light fixtures etc may have been removed.

    You will need to get a snaglist done by a competent surveyor, along with a structural survey- and get the list augmented/supplemented with anything you notice yourself.


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