Buying in Dublin (First Time Buyer)

horsesfc88

I got the ball rolling and got approved, at the moment i am looking for a 2 bed house/duplex in Dublin.

Do you guys think it's best to wait until 2015 to buy as i heard somewhere there is a loophole for cash buyers this year and it ends in 2015 and should drive the demand down.Not sure what to believe

I'm in the market for a 2 bed in a somewhat decent area but the prices are ridiculous

Are any of you in the same boat? Would i be better going for it now or wait until next year?

natali1982

horsesfc88 wrote: »

I got the ball rolling and got approved, at the moment i am looking for a 2 bed house/duplex in Dublin.

Do you guys think it's best to wait until 2015 to buy as i heard somewhere there is a loophole for cash buyers this year and it ends in 2015 and should drive the demand down.Not sure what to believe

I'm in the market for a 2 bed in a somewhat decent area but the prices are ridiculous

Are any of you in the same boat? Would i be better going for it now or wait until next year?

We are in the same boat as you. After losing 4 bidding wars against cash investors, we decided to take a break but keep eyes open. I'd suggest you to start viewing and bidding - just to get some experience and see with your own eyes mad house happening out there.

horsesfc88

natali1982 wrote: »

We are in the same boat as you. After losing 4 bidding wars against cash investors, we decided to take a break but keep eyes open. I'd suggest you to start viewing and bidding - just to get some experience and see with your own eyes mad house happening out there.

Where you looking at 2 beds in Dublin also?

horsesfc88

natali1982 wrote: »

We are in the same boat as you. After losing 4 bidding wars against cash investors, we decided to take a break but keep eyes open. I'd suggest you to start viewing and bidding - just to get some experience and see with your own eyes mad house happening out there.

Where are these cash buyers coming from ??

I thought i did well saving up a decent deposit and probably gonna be priced out of the market by some silver spoon W****r's

handlemaster

horsesfc88 wrote: »

Where are these cash buyers coming from ??

I thought i did well saving up a decent deposit and probably gonna be priced out of the market by some silver spoon W****r's

Or maybe older and wiser

natali1982

horsesfc88 wrote: »

Where you looking at 2 beds in Dublin also?

Yes, 2 bedroom apt.

Idbatterim

Or maybe older and wiser

possibly or maybe a public servant with a big tax free lump sum on retirement or someone as part of a couple, "up" two inheritances...

horsesfc88

handlemaster wrote: »

Or maybe older and wiser

and hopefully dead soon

Diane Selwyn

It depends on your circumstances - for me I don't want to put it off any longer as I'm the wrong side of 35 to be applying for a mortgage so the amount I will qualify for is probably going down faster than I can save (what with rents only going up!). No one knows with any certainly what prices will be like in 6 or 12 months. I would say keep an eye on it and if something comes up that you think would suit you for a minimum of 5 years (putting serious consideration into how well a 2 bed place will continue to cater for your needs) then put in a bid.

horsesfc88

Diane Selwyn wrote: »

It depends on your circumstances - for me I don't want to put it off any longer as I'm the wrong side of 35 to be applying for a mortgage so the amount I will qualify for is probably going down faster than I can save (what with rents only going up!). No one knows with any certainly what prices will be like in 6 or 12 months. I would say keep an eye on it and if something comes up that you think would suit you for a minimum of 5 years (putting serious consideration into how well a 2 bed place will continue to cater for your needs) then put in a bid.

Thanks for the advice

I'm 25 and no kids, if i ever have i'd only have the one, two MAX

I'd rather buy somewhere that i can afford and still have a life, only make 2 grand a month and i'm borrowing 115k so i can easily make the repayments

Once i see somewhere i like and is within 185k region i will go for it

But then if i enter a bidding war i can't go above 190k so i'm kinda screwed

Peter File

horsesfc88 wrote: »

I got the ball rolling and got approved, at the moment i am looking for a 2 bed house/duplex in Dublin.

Do you guys think it's best to wait until 2015 to buy as i heard somewhere there is a loophole for cash buyers this year and it ends in 2015 and should drive the demand down.Not sure what to believe

I'm in the market for a 2 bed in a somewhat decent area but the prices are ridiculous

Are any of you in the same boat? Would i be better going for it now or wait until next year?

There is a CGT exemption for investors that expires in December this year. If they buy a property and hold it for 7 years, then they pay no CGT on profits if any

crackcrack30

Maybe/hopefully there will be less steam in the Dublin market next year when that particular government interference comes to an end, leaving investors/landlords to rely on rent only which at the moment is just about break-even .....