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Buying 2014

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    #182
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    MouseTail wrote: »
    Here is an article more or less correlating with my view on why the recent price surge is not a bubble.
    http://www.independent.ie/irish-news/here-we-go-again-no-rising-prices-alone-do-not-a-bubble-make-30033169.html

    At the current rate of transactions, it takes 70 years to turnover the housing stock. The low rate of transactions is the only reason that prices are artificially high and Dan (who I do respect) completely ignores this.


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    #183
    dinnyirwin
    Registered Users Posts: 206 ✭✭dinnyirwin


    MouseTail wrote: »
    Here is an article more or less correlating with my view on why the recent price surge is not a bubble.
    http://www.independent.ie/irish-news/here-we-go-again-no-rising-prices-alone-do-not-a-bubble-make-30033169.html


    While im not partial to any article or person that pretends they know where things are going in the future i do love this line.

    "But it is important that we don't harm ourselves further by fighting the last war when it is long over."


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    #184
    ferike1
    Registered Users Posts: 1,785 ✭✭✭ferike1


    Was looking at houses/apartments and I can forget about buying anytime soon.

    As a potential first time buyer in the future (26 years old) what is happening now is all quite depressing.
    Cash sales of houses for an older generation that already has money and isn't impacted as much by the recession
    House prices rising again.
    Stupidly high rent prices in the city making it hard to save for a deposit
    Banks unwilling to repossess houses meaning prices stay artificially high.
    And finally (on a side note) a Government uninterested in implementing any policies that help the younger generation.

    I don't want to buy a house for the sake of it but when it seems hopeless buying anything decent in a few years time even.

    End rant.


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    #185
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    ferike1 wrote: »
    Was looking at houses/apartments and I can forget about buying anytime soon.

    As a potential first time buyer in the future (26 years old) what is happening now is all quite depressing.
    Cash sales of houses for an older generation that already has money and isn't impacted as much by the recession
    House prices rising again. I
    Stupidly high rent prices in the city making it hard to save for a deposit
    Banks unwilling to repossess houses meaning prices stay artificially high.
    And finally (on a side note) a Government uninterested in implementing any policies that help the younger generation.

    I don't want to buy a house for the sake of it but when it seems hopeless buying anything decent in a few years time even.

    End rant.

    You should have bought when you could Dont blame others because you didn't have the confidence.


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    #186
    dinnyirwin
    Registered Users Posts: 206 ✭✭dinnyirwin


    handlemaster wrote: »
    You should have bought when you could Dont blame others because you didn't have the confidence.

    Hes 26.
    Probably couldnt buy and is just having the exact same 20s rant that everyone in history has had at that age. When they look back at that rant in another few years they will understand.


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    #187
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    handlemaster wrote: »
    You should have bought when you could Dont blame others because you didn't have the confidence.

    Buy when you're in final year of college and beat the rush?

    The guy is working for at most 3-4 years. How on earth is he supposed to have the resources to be able to buy?


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    #188
    ferike1
    Registered Users Posts: 1,785 ✭✭✭ferike1


    handlemaster wrote: »
    You should have bought when you could Dont blame others because you didn't have the confidence.

    I'm glad you had the money to buy a house when you were 26. Good for you! :pac:

    And btw, just to clarify I don't expect that I should be able to buy some 400k house at the age of 26 but with the way things are developing it doesn't look likely I will be able to even think about buying ANYTHING decent before the age of 30 and the thoughts of renting another 4 years when I could be saving that is sickening!


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    #189
    dinnyirwin
    Registered Users Posts: 206 ✭✭dinnyirwin


    ferike1 wrote: »
    I'm glad you had the money to buy a house when you were 26. Good for you! :pac:

    And btw, just to clarify I don't expect that I should be able to buy some 400k house at the age of 26 but with the way things are developing it doesn't look likely I will be able to even think about buying ANYTHING decent before the age of 30 and the thoughts of renting another 4 years when I could be saving that is sickening!

    It would be a rare 26 year hold who had the money to buy a house. Or who even had the desire to buy a house.


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    #190
    Shedite27
    Registered Users Posts: 9,397 ✭✭✭Shedite27


    Yeah 26 is far too young IMO. Save for a few years to get a good deposit together and then decide what you want. Where I wanted to live when I was 26 is very different from where I do now (aged 30). Also, you want the flexibility to emigrate if you need/want to.

    On another note, from seeing things in Dublin, it seems buying a house that needs work is the way to go. There's no blank spaces in the city, but plenty of houses in nice areas that you could do a lovely job on for €100k and 6 months. Are there any good irish websites that show what can be done, and give people an idea of costs?

    I'd love if at open houses there were builders/architects with plans or proposals. Say you can get this house for €300k, and give us €100k and we can do this, that etc.


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    #191
    ferike1
    Registered Users Posts: 1,785 ✭✭✭ferike1


    Shedite27 wrote: »
    Yeah 26 is far too young IMO. Save for a few years to get a good deposit together and then decide what you want. Where I wanted to live when I was 26 is very different from where I do now (aged 30). Also, you want the flexibility to emigrate if you need/want to.

    On another note, from seeing things in Dublin, it seems buying a house that needs work is the way to go. There's no blank spaces in the city, but plenty of houses in nice areas that you could do a lovely job on for €100k and 6 months. Are there any good irish websites that show what can be done, and give people an idea of costs?

    I'd love if at open houses there were builders/architects with plans or proposals. Say you can get this house for €300k, and give us €100k and we can do this, that etc.

    Oh no, not at all , I want to keep saving, I just don't want to be priced out of the market by the time I actually have something saved.


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    #192
    Mr.McLovin
    Registered Users Posts: 470 ✭✭Mr.McLovin


    MouseTail wrote: »
    I keep hear people referring to recent price rises as a bubble. Its not. It may become one, but its not at the moment. We simply have a shift in the demand curve, and prices overcorrecting on the way down.

    maybe the overcorrecting is overcorrecting? :D


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    #193
    Little Miss Cutie
    Registered Users Posts: 1,194 ✭✭✭Little Miss Cutie


    How is everyone getting on in the house search? We are still searching and definitely seeing the trend of prices increasing.
    I haven't heard of any cash buyers on any houses we have seen this year!


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    #194
    gmisk
    Registered Users Posts: 32,801 ✭✭✭✭gmisk


    Getting nowhere I am afraid......max budget of 190 (looking for 2 bed in ok area inside M50, ok with some work)...very little in my price range and what is...is being bid up to over asking price...or is a total kip.

    I am seeing the same faces at viewings etc so I don't think there are that many people looking its just that there is NO supply at all.

    I am thinking I will just keep saving for a while and see how things go in the next 8-12 months hopefully some more supply comes on, and the cash buyers dry up.


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    #195
    Pinkycharm
    Registered Users Posts: 545 ✭✭✭Pinkycharm


    dinnyirwin wrote: »
    It would be a rare 26 year hold who had the money to buy a house. Or who even had the desire to buy a house.

    It's doable just depends on what you are looking for!


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    #196
    Little Miss Cutie
    Registered Users Posts: 1,194 ✭✭✭Little Miss Cutie


    gmisk wrote: »
    Getting nowhere I am afraid......max budget of 190 (looking for 2 bed in ok area inside M50, ok with some work)...very little in my price range and what is...is being bid up to over asking price...or is a total kip.

    I am seeing the same faces at viewings etc so I don't think there are that many people looking its just that there is NO supply at all.

    I am thinking I will just keep saving for a while and see how things go in the next 8-12 months hopefully some more supply comes on, and the cash buyers dry up.

    We are the same, seeing the same faces at every viewing! The last house we looked at needed seriously work and still over for 30k over asking and the asking was high anyway :(

    We are focusing on saving and hoping to get a little luck along the way


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    #197
    gmisk
    Registered Users Posts: 32,801 ✭✭✭✭gmisk


    Little Miss Cutie wrote: »
    We are the same, seeing the same faces at every viewing! The last house we looked at needed seriously work and still over for 30k over asking and the asking was high anyway :(

    We are focusing on saving and hoping to get a little luck along the way
    Good luck with the hunt :).

    I understand how frustrating it is believe me!


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