So Who Played the Housing Market and Won?

mosi

Relatives bought a house on Dublin's northside, near the new LUAS line and DIT, in 2012 for €195k. Recent valuations put it at €400k

sonandheir

CruelCoin wrote: »

entire garden gets sun all day 365 days a year.

Where is it? Tenerife? ;-)

sidcon

Bought in swords in 2012, 3 bed house with large extension but needed renovation for 120k. House next door is on market for 260k no extension at the moment.
So I'm up but don't plan on moving have invested another 20k in doing house up and plan another refurbished of 40k.

meeeeh

Well having all the equity in the home is handy. It makes so much easier for banks to reposes if something goes wrong.

We have a family home, as long we can afford the mortgage I am not worried about the equity. When selling home most have to buy again and the prices are higher.

techdiver

meeeeh wrote: »

Well having all the equity in the home is handy. It makes so much easier for banks to reposes if something goes wrong.

We have a family home, as long we can afford the mortgage I am not worried about the equity. When selling home most have to buy again and the prices are higher.

This is all so true and something people fail to see. Thousands of negative equity properties with no mortgage being paid and no repossession, but if the likes of us who have positive equity get into trouble, you can bet that the house would be repossessed fairly quickly.

Also the notion of trading up misses the point that if you want to do that, every increase in house prices makes that more expensive despite the equity you have in your home.

I'm in positive equity but I still hate the way the market is currently going. Property is useless to the economy as it just ends up enriching the very few at the expense of the wider economy!

sunsetter

Was abroad for the boom. Everyone I knew bought and scoffed at the people not on 'the ladder'

Came back 4 years ago, bought 1.5 years ago, 2br apt for 240k

Seller was an investor who got it wrong - these apts sold for 515k in the boom, now his bank was making him sell.

A neighbours apt went sale agreed for 315k, so they have gone up nicely.

I had to move abroad again for a while an im renting my apt out for over 1600 per month. Mortgage is 800 per month.

Turned out to be a nice little investment ;-)

Jawgap

Moved back to Ireland in 2003 bought a house, and got divorced!! Kind of intended to do one, but the other just kind of happened!!

Bought a 3 bed at the time that I had to keep payments up on but it sold recently and I got a nice lump from it......

.....In the interim, met wife #2, got married and bought an apartment on the southside in late 2008 - 2 bed in a decent development for €175k, well within our means and less than 50% mortgage......

.....thankfully wife nua is a lot more level-headed than I am and has a background in banking compliance, if I hadn't met her I'd have probably had a punt on property in eastern Europe and got a stupidly huge mortgage to buy a house here and run up a rake of soft debt.....

......rented out and moved from the apartment in 2010 to a development outside Dublin where houses were €700k+ at the height of the boom......we negotiated and bought for a price around half that and got an extra chunk of land attached to the property in a side deal from the original builder.......the vendor so hacked off at the deal wrung from him that he told all the neighbours (who to a person bought them new) what we paid him and how we were screwing him!........I don't think anyone talked to us for the first year!!!