Am I mad to buy in 2012

Balmed Out

Marcanthony wrote: »

Read the rent a room scheme and then come back to us. night, night.

You dont seem to understand, Im not saying that a room in ahouse cant be rented out for 870 a month. I dont know why your banging on about the rent a room scheme, you can rent it out for more then 10000 pa, that only affects income tax.
My point was that someone who buys a family home for 160000 that could be rented in its entirety for 1000p per month will not get 870 for just one bedroom.

Zamboni

jmayo wrote: »

Oh dear God. :eek:
As they say on a famous TV show "I am out".

I'll believe it when I see it

I can't believe people are still conversing trying to converse with this guy.

Marcanthony

Theboinkmaster wrote: »

You are incorrect. The price at the peak is entirely irrelevant when determining value now, or ever.

thats not the point i am making.

Lets just say your home is worth 100k. When the market settles down and the price is confirmed it will not go any lower.

If that same house at its peak was 300k. It is 66% less in price than its peak. Now thats not rocket science.

Marcanthony

Balmed Out wrote: »

You dont seem to understand, Im not saying that a room in ahouse cant be rented out for 870 a month. I dont know why your banging on about the rent a room scheme, you can rent it out for more then 10000 pa, that only affects income tax.
My point was that someone who buys a family home for 160000 that could be rented in its entirety for 1000p per month will not get 870 for just one bedroom.

Apologies you are correct. However I mentioned a FTB renting at present and maybe should have stated if he was on his own. he could rent the other rooms for upto 10k tax free.With out paying tax and would nearly cover all his repayments per mth and in five years time a quater of his mortgage would have been paid.

A room would not rent for that amount. But the intrest would be a lot lower on repayments than the rent.if it was rented in its entirity.

Marcanthony

Zamboni wrote: »

I'll believe it when I see it

I can't believe people are still conversing trying to converse with this guy.

Time will tell. i hope your around then.;)

I'll believe it when I see it . You confirm my point. Monkey see, monkey do.

Theboinkmaster

Marcanthony wrote: »

thats not the point i am making.

Lets just say your home is worth 100k. When the market settles down and the price is confirmed it will not go any lower.

If that same house at its peak was 300k. It is 66% less in price than its peak. Now thats not rocket science.

What is the point your making? your post makes no sense

How is something worth €100k now and why can't it go lower?!

gurramok

Marcanthony wrote: »

Apologies you are correct. However I mentioned a FTB renting at present and maybe should have stated if he was on his own. he could rent the other rooms for upto 10k tax free.With out paying tax and would nearly cover all his repayments per mth and in five years time a quater of his mortgage would have been paid.

A room would not rent for that amount. But the intrest would be a lot lower on repayments than the rent.if it was rented in its entirity.

A FTB renting out rooms to strangers in his house sorta defeats the purpose of buying a place to 'call his home', that person must hate privacy. I certainly won't be renting out rooms, I value my privacy!

Marcanthony

Theboinkmaster wrote: »

What is the point your making? your post makes no sense

How is something worth €100k now and why can't it go lower?!

ok then find out of an EA what your property will realistically sell for now.

Subtract that from its peak price and you will get a percentage.;)

at some stage prices will be confirmed per area and location ect.Then use the same method to get a percentage price in fall from its peak.

Theboinkmaster

Marcanthony wrote: »

ok then find out of an EA what your property will realistically sell for now.

Subtract that from its peak price and you will get a percentage.;)

at some stage prices will be confirmed per area and location ect.Then use the same method to get a percentage price in fall from its peak.

So you're saying when prices finally bottom out compare to peak prices, what's the purpose of that?

What is your point exactly?!

Marcanthony

gurramok wrote: »

A FTB renting out rooms to strangers in his house sorta defeats the purpose of buying a place to 'call his home', that person must hate privacy. I certainly won't be renting out rooms, I value my privacy!

Well then dont . keep it as your own dynasty.

you could use the rent a room scheme as your contingency plan for the worse case scenario.Your repayments will still be less than renting in relation to my example.

gurramok

Marcanthony wrote: »

Well then dont . keep it as your own dynasty.

you could use the rent a room scheme as your contingency plan for the worse case scenario.Your repayments will still be less than renting in relation to my example.

Still sharing though. what's the point moving from renting to buying(rent-a-room) when you will still deal with the same crap that happens under sharing.

Don't think your advice would be appropriate for a couple nevermind a singleton!

Marcanthony

Theboinkmaster wrote: »

So you're saying when prices finally bottom out compare to peak prices, what's the purpose of that?

What is your point exactly?!

Yes correct thats what I mean.

In my opinion 70% will be the max. Another poster gave his opinion and good advice and determained the worse case scenario as 81% before an increase.

So if when prices have finally bottomed out and lets just say its 60/70% of there peak price.

My opinion is that if you are buying at present you are getting the pick of the crop and if you can negotiate a price 60/70% of its peak price.

I think its great value.You are taking a slight risk that they may bottom out further.But if they do I dont think it could be by much more.But if they bottom out by less. Youu are on a winner.Pick of the crop and a decent earner.

I mentioned certain criteria. So read the posts.Buying apartments in rural villages ect.

Theboinkmaster

Marcanthony wrote: »

Yes correct thats what I mean.

In my opinion 70% will be the max. Another poster gave his opinion and good advice and determained the worse case scenario as 81% before an increase.

So if when prices have finally bottomed out and lets just say its 60/70% of there peak price.

My opinion is that if you are buying at present you are getting the pick of the crop and if you can negotiate a price 60/70% of its peak price.

I think its great value.You are taking a slight risk that they may bottom out further.But if they do I dont think it could be by much more.But if they bottom out by less. Youu are on a winner.Pick of the crop and a decent earner.

I mentioned certain criteria. So read the posts.Buying apartments in rural villages ect.

Comparing eventual value/prices bottoming out to peak prices is a complete fallacy as other posters have pointed out. I won't waste my time with you.

desertcircus

Marcanthony wrote: »

gurramok wrote: »

A FTB renting out rooms to strangers in his house sorta defeats the purpose of buying a place to 'call his home', that person must hate privacy. I certainly won't be renting out rooms, I value my privacy!

Well then dont . keep it as your own dynasty.

you could use the rent a room scheme as your contingency plan for the worse case scenario.Your repayments will still be less than renting in relation to my example.

Where can you buy a two-bed house for 175k but not rent one for less than a thousand?

Marcanthony

Theboinkmaster wrote: »

Comparing eventual value/prices bottoming out to peak prices is a complete fallacy as other posters have pointed out. I won't waste my time with you.

Well thats maybe what is agreed upon by yourself and your peers.

But a percentage rate from peak to sale price will be used .Regardless of how valuation assessment will be done.

Bobeagleburger

I'd say houses will drop by another 15+% this year at least and continue to fall for a good few years and I can't see it suddenly shifting and a boom happening, the country is too screwed for that,unemployment sky high and the banks not lending a cent.

4/5 years might be a good time to buy, should get houses at 33% cheaper than current prices at least.

Marcanthony

rarnes1 wrote: »

I'd say houses will drop by another 15+% this year at least and continue to fall for a good few years and I can't see it suddenly shifting and a boom happening, the country is too screwed for that,unemployment sky high and the banks not lending a cent.

4/5 years might be a good time to buy, should get houses at 33% cheaper than current prices at least.

A good point and opinion and if you are correct a percentage rate can be used to determain its fall in price from the peak of its price .

Marcanthony

desertcircus wrote: »

Where can you buy a two-bed house for 175k but not rent one for less than a thousand?

sorry I misread your post. Apologies. I can post examples from Dublin or Cork in good areas if the Mods confirm its ok. Or send Myself a pm with your postal code and ill give you examples in your area.

dory

Marcanthony wrote: »

sorry I misread your post. Apologies. I can post examples from Dublin or Cork in good areas if the Mods confirm its ok. Or send Myself a pm with your postal code and ill give you examples in your area.

We always post links to houses here (for the lols quite often) so it shouldn't be a problem.

Marcanthony

dory wrote: »

We always post links to houses here (for the lols quite often) so it shouldn't be a problem.

Thats good. Ill just get a bit of info of daft or myhome.

Marcanthony

I am using a sale agreed price to confirm.

http://www.daft.ie/1628707

and its rental price

http://www.myhome.ie/1757470

This loan can be financed for over 20 years at approx 800 euro to buy as an investment property. Much cheaper for FTB . maybe now is the right time .


and its peak price was 350k. look at collapso.


Believe me now.At least I can back up what I state. Unlike other posters.

Marcanthony

And my point

that property is approx 65% of its peak price.

I can post more examples. No problem. But I may not be able to confirm sale price and the rent like previous post.

Now all the experts who dought me. Can they advice if this property will drop by much more and by how much .

What an investment..........................

CiaranC

Marcanthony wrote: »

And my point

that property is approx 65% of its peak price.

So what?

Marcanthony

CiaranC wrote: »

So what?

Because now is probably best time to buy. Must of hit a nerve did I. Ill give you example of where you could be on that loan over a term 5 , 10 , 15 , 20 years.Just to rub salt into your wound.

and if you wait 5 years or maybe 10 till it bottoms out . While your paying rent at the same value.You will lose out on this .
The property above over a 20 year term loan and losing value at 30% every 5 years....
In 5 years time loan amount will be approx €105k...and allowing a 30% fall in the next 5 years. The property will be valued at approx 90k.
and in 10 years...approx €78k. and allowing another 30% in prices over this 5 years. the property will be valued at approx €73k.
and in 15 years time ...aprox 40k. and allowing another 30% in prices over this 5 years. The property will be valued at approx €50k
and in 20 years time...YOU OWN THE PROPERTY....and allowing another 30% in prices over this 5 years.Property valued at approx €35k.

So it could make a difference buying now or in 5/10 years.
or When it bottoms out with prices like these like these.

CiaranC

Marcanthony

CiaranC wrote: »

are you a cyberho. Heard about lads like you.but i didnt know they posted their photo.

Bobeagleburger

Its obvious that marcanthony has motives here.

People should not pay attention. Its not a good time to buy. Anyone with a brain knows that.

Marcanthony

rarnes1 wrote: »

Its obvious that marcanthony has motives here.

People should not pay attention. Its not a good time to buy. Anyone with a brain knows that.

You must be lacking in that department so.

calculator

Marcanthony wrote: »

You must be lacking in that department so.

What department exactly?

Marcanthony

calculator wrote: »

What department exactly?

EA sales department. What you think.