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Buy now or wait?

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    #32
    Eric Cartman
    Registered Users Posts: 26,280 ✭✭✭✭Eric Cartman


    My issue with buying now is that the selection is so poor and the quality of finish is questionable on some sites. rather than these new estates being banged up on any field they can find near a town, I'd rather wait till the 'crisis' is being resolved and more development companies have a better selection than just 3 and 4 bed semi's on tiny plots.


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    #33
    gargargar
    Registered Users Posts: 249 ✭✭gargargar


    cruizer101 wrote: »
    Easier said than done, credit isn't readily available in a crash.

    This is hugely important. A crash is great if you are sitting on a few hundred grand.


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    #34
    ConnyMcDavid
    Registered Users Posts: 229 ✭✭ConnyMcDavid


    Wait for 4 years.


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    #35
    Captain Flaps
    Registered Users Posts: 1,834 ✭✭✭Captain Flaps


    Eric Cartman wrote: »
    My issue with buying now is that the selection is so poor and the quality of finish is questionable on some sites. rather than these new estates being banged up on any field they can find near a town, I'd rather wait till the 'crisis' is being resolved and more development companies have a better selection than just 3 and 4 bed semi's on tiny plots.

    Yeah, I got lucky with a 3 bed ex-council terraced in a nice part of Rathfarnham, I could have got a semi outside the M50 but the size wouldn't have been much of a boost and the quality much lower.


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    #36
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Eric Cartman wrote: »
    My issue with buying now is that the selection is so poor and the quality of finish is questionable on some sites. rather than these new estates being banged up on any field they can find near a town, I'd rather wait till the 'crisis' is being resolved and more development companies have a better selection than just 3 and 4 bed semi's on tiny plots.

    If your waiting for plots near most towns to get larger, I'd find a comfortable chair as you could be waiting some time.

    Do some research on local authorities guidelines for housing densities.


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    #37
    Eric Cartman
    Registered Users Posts: 26,280 ✭✭✭✭Eric Cartman


    Graham wrote: »
    If your waiting for plots near most towns to get larger, I'd find a comfortable chair as you could be waiting some time.

    Do some research on local authorities guidelines for housing densities.

    Personally im waiting to see how planning applications go near some towns and see how its going to sprawl so I know which roads / infrastructure is likely to get an upgrade and purchase an acre along one of these new extensions to the town.


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    #38
    sbsquarepants
    Registered Users Posts: 11,812 ✭✭✭✭sbsquarepants


    I personally don't see prices falling until there's a huge upswing in building. The population is growing rapidly, mortgage rules are very tight and even with that prices are rising. Rent (if you're renting) is plain crazy. I see no benefit in waiting if you're in a position to buy now.

    Edit: Only copped you're 40. I'd defo buy now if I was you.


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    #39
    KBD85
    Registered Users Posts: 123 ✭✭KBD85


    Captain Flaps wrote: »
    We've just bought. We were advised to wait 3-5 years by some people who reckon a crash is on the way, but at the end of the day we can afford to buy now and are keen to get out of the rental market, if I'm going to be paying crazy money I'd rather pump it into an asset. Also said crash may never come so why waste years hoping a house will get cheaper when you could just buy now?

    What reasons did these people give for a crash coming in the next 3 to 5 years?


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    #40
    Captain Flaps
    Registered Users Posts: 1,834 ✭✭✭Captain Flaps


    KBD85 wrote: »
    What reasons did these people give for a crash coming in the next 3 to 5 years?

    Because prices are not far off 2007 boom levels and people are assuming that we're following the same pattern as before, which we're not. Irresponsible lending inflated prices last time, this time it's demand surplus which is a much harder thing to control.


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    #41
    PhoenixParker
    Registered Users Posts: 2,677 ✭✭✭PhoenixParker


    In terms of the previous boom were probably at 2000.

    Lack of supply, sky rocketing rents, for a few years. Building kicking off, borrowing somewhat constrained, huge demand. Supply was meeting demand by about 2003 when the market wobbled and rent prices fell. Speculation and investment took over to drive the bubble then.

    If supply & borrowing had been controlled then things might have come good but the next 4 years did the damage.

    If you're stable in terms of location and work, buy a home to live in and get on with your life.


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