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Property Market 2019

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    #2942
    cherryghost
    Moderators, Technology & Internet Moderators Posts: 17,133 Mod ✭✭✭✭cherryghost


    Not on the market, but bought our house late 2015. I'm in shock the prices of similar houses in our area today. I wouldn't pay the prices they're currently going for for sure.


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    #2943
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    cherryghost wrote: »
    Not on the market, but bought our house late 2015. I'm in shock the prices of similar houses in our area today. I wouldn't pay the prices they're currently going for for sure.

    What area approximately would this be?


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    #2944
    Bluefoam
    Registered Users Posts: 7,739 ✭✭✭Bluefoam


    cherryghost wrote: »
    Not on the market, but bought our house late 2015. I'm in shock the prices of similar houses in our area today. I wouldn't pay the prices they're currently going for for sure.

    It's easy to say that in hindsight, from a position of power... but theres lots of people wasting money on rent who would be grateful for the oportunity to buy a crap house at a high price... & I'm not even joking aboiut that.


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    #2945
    cherryghost
    Moderators, Technology & Internet Moderators Posts: 17,133 Mod ✭✭✭✭cherryghost


    Pheonix10 wrote: »
    What area approximately would this be?

    Only in the settled Clondalkin area. The increases aren't as dramatic as other areas but it's still a bit of a shock. I took my eye off the ball on prices once I got mine and settled down.
    It's easy to say that in hindsight, from a position of power... but theres lots of people wasting money on rent who would be grateful for the oportunity to buy a crap house at a high price... & I'm not even joking aboiut that.

    I can see where that's coming from. Rent is very high, expensive crap house would probably yield a lower mortgage than absurdly high rent costs, and also some housing security for the future.


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    #2946
    DelBoy Trotter
    Registered Users Posts: 1,481 ✭✭✭DelBoy Trotter


    cherryghost wrote: »
    Not on the market, but bought our house late 2015. I'm in shock the prices of similar houses in our area today. I wouldn't pay the prices they're currently going for for sure.

    If you hadn't bought in late 2015, you would have paid rent from then until now which is the guts of 4 years. For a half decent 2 bed apartment, those 4 years could have cost you 75k in rent. Your purchase price plus 75k....does that exceed what the houses in your area are going for now?


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    #2947
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    I am watching the Dublin 7 market for the last 12 months, anything that is good and ready to move in will sell very fast.
    Everything else is on the market for months and months, asking prices are down everywhere.


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    #2948
    Marcusm
    Registered Users Posts: 10,320 ✭✭✭✭Marcusm


    Interested Observer wrote: »
    There's no VAT on 2nd hand homes anyway but new builds no it does not.

    Not always true. If the initial owner exercised the option to tax the building (such as charging VAT on rent) then, subject to time limits, they would be required to charge VAT on the eventual sale. This was not uncommon for smart landlords of newly constructed properties as it allowed them to recover VAT on purchase.


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    #2949
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Marcusm wrote: »
    Not always true. If the initial owner exercised the option to tax the building (such as charging VAT on rent) then, subject to time limits, they would be required to charge VAT on the eventual sale. This was not uncommon for smart landlords of newly constructed properties as it allowed them to recover VAT on purchase.

    100% correct, however, any landlords who have the wherewithall to structure their property in this manner- tend to be in it for the long haul, and their units only rarely hit the market (though there have been a few notable liquidations of collections of rental holdings this year).


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    #2950
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,655 Mod ✭✭✭✭helimachoptor


    Radsky wrote: »
    What would be considered a big garden? I see in many new builds garden sizes of around 70 sq meters? Would old houses typically have a much larger garden size than this?

    When i was looking originally, i wanted a small back garden, but we ended up with a dublin garden thats around 500sqm (the neighbours who've been here since not long after they were built said the size was due to the government wanting people to be able to plant fruit and veg, no idea how true that is. Build time was circa 1950s).

    My brother has bought a new build and just moved in, its not the size its more about how over looked it is, there's zero privacy as so many houses can see in.


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    #2951
    Bluefoam
    Registered Users Posts: 7,739 ✭✭✭Bluefoam


    500msq is almost a farm...


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    #2952
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,655 Mod ✭✭✭✭helimachoptor


    Bluefoam wrote: »
    500msq is almost a farm...

    Its a semi D and not some mansion, out of the ordinary for sure.


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    #2953
    terrydel
    Closed Accounts Posts: 3,881 ✭✭✭terrydel


    helimachoptor wrote: »
    When i was looking originally, i wanted a small back garden, but we ended up with a dublin garden thats around 500sqm (the neighbours who've been here since not long after they were built said the size was due to the government wanting people to be able to plant fruit and veg, no idea how true that is. Build time was circa 1950s).

    My brother has bought a new build and just moved in, its not the size its more about how over looked it is, there's zero privacy as so many houses can see in.

    Boot Road?


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    #2954
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,655 Mod ✭✭✭✭helimachoptor


    terrydel wrote: »
    Boot Road?

    nope, Clonkeen Road


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    #2955
    Cyrus
    Registered Users Posts: 20,053 ✭✭✭✭Cyrus


    Mickiemcfist wrote: »
    Yea that makes a lot of sense actually. We chose a c.30 year old property as I value an established neighborhood, large garden, no social housing etc. over some of the mod cons & simplicity of purchasing new properties. I'm 30 years old too but I do see myself as not the typical millennial, fix my own cars, I love DIY etc. so an older house needing work suits me but I see why it wouldn't suit others.

    i was looking for a year, never thought about a new build, until i walked into the one we bought.

    Granted ours is in an established neighborhood, i have a garden large enough for what we need (circa 170 sqm), its a very small estate, its very quiet and safe and there is no social housing.

    On the face of it it was expensive but compared to the renovation jobs i had looked at earlier in the search i reckon i ended up 100k better off buying new.


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    #2956
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    I was chatting with an estate agent about selling my house i bought over a year ago, he told me the market has not moved at all and i would be lucky if i got 240 on a house i paid 235 for last year. This house is based in a decent area of cork and right next to the link. Definitely a slowdown, i was getting it valued as i have decided to move out to the country


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    #2957
    DelBoy Trotter
    Registered Users Posts: 1,481 ✭✭✭DelBoy Trotter


    A house I was looking at in Sandyford has gone 70k over the asking price and it isn’t even sale agreed yet so there’s obviously still a lot of people looking to buy


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    #2958
    Limitless28
    Registered Users Posts: 4 ✭Limitless28


    What are the chances of getting a planning application granted for these type of houses: bigmantinyhomes. ie / designs / (remove spaces as I can't post any links).
    A 2 bed for less than 60K plus the cost of the land and other misc costs is a no brainer. I can even see a group of 5 or 6 people buying a decent piece of land and building these houses to avoid paying the current mad prices.


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    #2959
    ontheditch2
    Registered Users Posts: 372 ✭✭ontheditch2


    Limitless28 wrote: »
    What are the chances of getting a planning application granted for these type of houses: bigmantinyhomes. ie / designs / (remove spaces as I can't post any links).
    A 2 bed for less than 60K plus the cost of the land and other misc costs is a no brainer. I can even see a group of 5 or 6 people buying a decent piece of land and building these houses to avoid paying the current mad prices.

    Read about something you are suggesting before.
    Bunch of people, let's say 10 who all wanted to buy a house, joined forces, bought plot of land then employed a builder to the build the 10 houses. Worked out way cheaper as builder was bulk building on the one site, water/ electricity connections etc were all split as opposed to 1 person building a new house somewhere on their own.
    Don't even know if it was in Ireland (probably wasn't) but seems like a great idea.


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    #2960
    Bluefoam
    Registered Users Posts: 7,739 ✭✭✭Bluefoam


    Deleted User wrote: »
    I was chatting with an estate agent about selling my house i bought over a year ago, he told me the market has not moved at all and i would be lucky if i got 240 on a house i paid 235 for last year. This house is based in a decent area of cork and right next to the link. Definitely a slowdown, i was getting it valued as i have decided to move out to the country

    I find this crazy... how did you make the decision to spend €235,000 on a house that you weren't sure you'd want to live in... to sell after a year seems to be poor descision making... BTW, if you get 240k for it thats a 2% gain... thats okay for a years investment... what were you expecting?


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    #2961
    Mickiemcfist
    Registered Users Posts: 1,585 ✭✭✭Mickiemcfist


    5k gain on a house purchase is a loss, half of it would have gone on stamp duty & more than the rest on solicitor fees between the two transactions.

    However - circumstances change, he could have a job offer from abroad or many other unpredictable events.. No need to be so judgy.


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    #2962
    gmisk
    Registered Users Posts: 32,775 ✭✭✭✭gmisk


    Bluefoam wrote: »
    I find this crazy... how did you make the decision to spend €235,000 on a house that you weren't sure you'd want to live in... to sell after a year seems to be poor descision making... BTW, if you get 240k for it thats a 2% gain... thats okay for a years investment... what were you expecting?
    Probably no profit when you take into account solicitors fees, moving costs etc


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    #2963
    Bluefoam
    Registered Users Posts: 7,739 ✭✭✭Bluefoam


    gmisk wrote: »
    Probably no profit when you take into account solicitors fees, moving costs etc

    Who tries to make a profit on property after a year... dilusional... It's not 2007


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    #2964
    Bluefoam
    Registered Users Posts: 7,739 ✭✭✭Bluefoam


    Mickiemcfist wrote: »
    5k gain on a house purchase is a loss, half of it would have gone on stamp duty & more than the rest on solicitor fees between the two transactions.

    However - circumstances change, he could have a job offer from abroad or many other unpredictable events.. No need to be so judgy.

    I'm not being judgemental... just shocked

    BTW, he stated clearly that he had decided do move to a more rural location... I'm sure everyone experiences various circumnstances... but...


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    #2965
    aloooof
    Moderators, Sports Moderators Posts: 10,595 Mod ✭✭✭✭aloooof


    Bluefoam wrote: »
    Who tries to make a profit on property after a year... dilusional... It's not 2007

    OP never said he did this trying to make a profit from the outset. His circumstances have changed. Sometimes life gets in the way of best laid plans.


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    #2966
    Bluefoam
    Registered Users Posts: 7,739 ✭✭✭Bluefoam


    aloooof wrote: »
    OP never said he tried did this trying to make a profit from the outset. His circumstances have changed. Sometimes life gets in the way of best laid plans.

    I didn't raise the question of profit... I was only responding to another poster.

    BTW. I am aware that life can get in the way, however, property purchase is a massive investment and for many requires years of planning and there are some very tough questions that need to be answered in order to complete the purchase. Even considering life changing events, a year is a very swift reaction time...


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    #2967
    Mickiemcfist
    Registered Users Posts: 1,585 ✭✭✭Mickiemcfist


    Bluefoam wrote: »
    I didn't raise the question of profit... I was only responding to another poster.

    BTW. I am aware that life can get in the way, however, property purchase is a massive investment and for many requires years of planning and there are some very tough questions that need to be answered in order to complete the purchase. Even considering life changing events, a year is a very swift reaction time...

    Well the OP has just lived for a year effectively rent free, the cost will be time & effort, so while it might be a bit of a pain, it's not exactly the worst outcome.


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    #2968
    Bluefoam
    Registered Users Posts: 7,739 ✭✭✭Bluefoam


    Mickiemcfist wrote: »
    Well the OP has just lived for a year effectively rent free, the cost will be time & effort, so while it might be a bit of a pain, it's not exactly the worst outcome.

    But his original complaint was that the property only made a 5k gain after a year...


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    #2969
    Mickiemcfist
    Registered Users Posts: 1,585 ✭✭✭Mickiemcfist


    Bluefoam wrote: »
    But his original complaint was that the property only made a 5k gain after a year...

    He gave property price information in the Property Market 2019 thread. I didn't see the complaint..


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    #2970
    cruizer101
    Registered Users Posts: 3,205 ✭✭✭cruizer101


    Mickiemcfist wrote: »
    Well the OP has just lived for a year effectively rent free, the cost will be time & effort, so while it might be a bit of a pain, it's not exactly the worst outcome.

    They had to pay their mortgage, money of the capital they get back but fair bit would have been interest, especially in first year.
    Definitely cheaper than renting equivalent property but not free.


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    #2971
    duffman13
    Registered Users Posts: 8,952 ✭✭✭duffman13


    cruizer101 wrote: »
    They had to pay their mortgage, money of the capital they get back but fair bit would have been interest, especially in first year.
    Definitely cheaper than renting equivalent property but not free.

    Depending on circumstances, the biggest issue for the OP would be the loss of FTB status without any real financial gain. Hopefully his next house is a bit cheaper and makes it worthwhile


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