Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

decreds

Sweet.Science wrote: »

https://www.auctioneera.ie/property/10-glenfarne-road-raheny-dublin-d05-t6p4


Sale agreed at 400k . Madness . The whole thing needs to be gutted . And it's Tonlegee rd not Raheny

You'd want to be some sucker to pay that kind of money for that. I know the area well.


A lot of people are going to get caught holding the bag when this house of cards eventually crashes. Any couple/individual i know that are buying are doing so out of sheer desperation and panic, very short sighted.

decreds

dia squish wrote: »

Any thoughts on how much it would cost (roughly) to fix up a place like this? I know it would vary hugely depending on what you want, but a minimum?

My last house was a fixer upper but it was in 2012 when costs were lower. Currently i'd hazard a guess that it would be at least 70k (could be way off the mark).

stampydmonkey

decreds wrote: »

My last house was a fixer upper but it was in 2012 when costs were lower. Currently i'd hazard a guess that it would be at least 70k (could be way off the mark).

Bout 30k higher I'd say

goingagain

I’d say 50-70k, with no extension €150 if you wanted an extension and that would be doing it cheap.

Markitron

Sweet.Science wrote: »

https://www.auctioneera.ie/property/10-glenfarne-road-raheny-dublin-d05-t6p4


Sale agreed at 400k . Madness . The whole thing needs to be gutted . And it's Tonlegee rd not Raheny

That house is in Edenmore, not Raheny. The ad says it is 'minutes walk from Raheny village' it is actually closer to Coolock village than Raheny village.

Paying 400k for that would be straight-up lunacy if it was actually done up really well, paying 400k for it in that state should have you sectioned.

Sweet.Science

Markitron wrote: »

That house is in Edenmore, not Raheny. The ad says it is 'minutes walk from Raheny village' it is actually closer to Coolock village than Raheny village.

Paying 400k for that would be straight-up lunacy if it was actually done up really well, paying 400k for it in that state should have you sectioned.

Its a nice estate in fairness



This one

https://www.daft.ie/for-sale/semi-detached-house-32-ardara-avenue-donaghmede-dublin-13/2919898

401k current offer

Markitron

Sweet.Science wrote: »

Its a nice estate in fairness



This one

https://www.daft.ie/for-sale/semi-detached-house-32-ardara-avenue-donaghmede-dublin-13/2919898

401k current offer

Its in a decent state but that is madness

Sweetaure

We were bidding on this house: https://www.daft.ie/for-sale/detached-house-5-landsborough-gardens-douglas-co-cork/2884333


Latest I heard from the EA, bid was at €495k. Our limit was €480, because the house isn't it, with the renovations necessary.

Smiley11

Sweetaure wrote: »

We were bidding on this house: https://www.daft.ie/for-sale/detached-house-5-landsborough-gardens-douglas-co-cork/2884333


Latest I heard from the EA, bid was at €495k. Our limit was €480, because the house isn't it, with the renovations necessary.

Nuts..might be worth that renovated but people just seem to be losing the run of themselves completely. Were there physical viewings on it?

Sweetaure

Not officially, the house is vacant, so the EA left the doors open, and we went in quietly... I'm not sure how many people did that, or if people are bidding without having viewed.



The house is nice enough, and the location is god, but it is hardly workable the way it is (for instance, the washing machine is in the back of the garage, you have to get out of the house to get to it). EA said it is prob worth around €465k so we walked away at €480k...



Spoke to another EA from a main agency, and there's a few more houses coming to the market in the next few weeks, so hopefully the supply will start to improve!

Nika Bolokov

I think theres going to be a lot of people in a few months feeling very sorry for themselves when they realise they have grossly overpaid for houses they dont really like at all.

The one in Raheny posted a little while ago could cost 100k to 110k to renovate if a modern heating system and insulation is on your list, place would need to be gutted.

15k on a new kitchen, 6k on a new bathroom, new windows, new heating, insulation, labour to rip out old fittings, replastering, rewiring in parts im sure at least and top to bottom repainting, flooring etc.

Not much change out of 550k if you get it up to modern spec at that price with various fees etc.

Never mind if you want to put on an extension.

Smiley11

Thats what we're hoping for. I just don't have it in me to pay way over what I feel a house is worth but obviously these houses are worth that money to others...or they're just plain desperate. We're going to wait out this current wave of insanity in the hope things calm down over the summer. I don't know what to make of this market at all.

optogirl

Smiley11 wrote: »

Thats what we're hoping for. I just don't have it in me to pay way over what I feel a house is worth but obviously these houses are worth that money to others...or they're just plain desperate. We're going to wait out this current wave of insanity in the hope things calm down over the summer. I don't know what to make of this market at all.

I agree but unfortunately we are with Rebuilding Ireland Home Loan and approval is up in June and we have been told there will be no extensions. Banks offering is paltry as my husband works 2 jobs and so they will only take 50% of his second job into account. Can't believe I'm stuck renting in my 40s, sitting on a decent deposit and saving away....and all for nothing. Getting outbid on every house we like, even those that we know we'd have to plough more money into. So frustrating.

Milena009

Smiley11 wrote: »

Thats what we're hoping for. I just don't have it in me to pay way over what I feel a house is worth but obviously these houses are worth that money to others...or they're just plain desperate. We're going to wait out this current wave of insanity in the hope things calm down over the summer. I don't know what to make of this market at all.

I think that whilst there might / will be houses coming to market, you also will have more competition. People coming off of PUP or other EWSS mortgage obstruction / people with higher deposits than they have now as well.
So it is a lottery game all around.
Some people might pay more now for the house but competition is potentially smaller
Some might prefer to wait and potentially secure bigger house

For example I m in bit of both, i am in no rush to buy however I did view a house over the weekend that if we do seal the deal [ currently highest bid] i would be thirlled but i am not putting pressure on myself here.

Sweet.Science

optogirl wrote: »

I agree but unfortunately we are with Rebuilding Ireland Home Loan and approval is up in June and we have been told there will be no extensions. Banks offering is paltry as my husband works 2 jobs and so they will only take 50% of his second job into account. Can't believe I'm stuck renting in my 40s, sitting on a decent deposit and saving away....and all for nothing. Getting outbid on every house we like, even those that we know we'd have to plough more money into. So frustrating.

Just from a personal point of view I was in same position . Kept getting outbid . Realized If I wanted to buy I had to change location . I did and went sale agreed

Markitron

Nika Bolokov wrote: »

I think theres going to be a lot of people in a few months feeling very sorry for themselves when they realise they have grossly overpaid for houses they dont really like at all.

The one in Raheny posted a little while ago could cost 100k to 110k to renovate if a modern heating system and insulation is on your list, place would need to be gutted.

15k on a new kitchen, 6k on a new bathroom, new windows, new heating, insulation, labour to rip out old fittings, replastering, rewiring in parts im sure at least and top to bottom repainting, flooring etc.

Not much change out of 550k if you get it up to modern spec at that price with various fees etc.

Never mind if you want to put on an extension.

And even after you spend all this money, the house still won't be in Raheny

Smiley11

Milena009 wrote: »

I think that whilst there might / will be houses coming to market, you also will have more competition. People coming off of PUP or other EWSS mortgage obstruction / people with higher deposits than they have now as well.
So it is a lottery game all around.
Some people might pay more now for the house but competition is potentially smaller
Some might prefer to wait and potentially secure bigger house

For example I m in bit of both, i am in no rush to buy however I did view a house over the weekend that if we do seal the deal [ currently highest bid] i would be thirlled but i am not putting pressure on myself here.

I'm very uneasy in this market & I can't motivate myself at all, much as I need to! We have a healthy enough budget & I don't want to settle for something just because I pressured myself into it. I think we'll just wait & hopefully find a house thats worth the money to us.

Best of luck with your bidding, I'd love to be at that stage! Really hope it works out for you

optogirl wrote: »

I agree but unfortunately we are with Rebuilding Ireland Home Loan and approval is up in June and we have been told there will be no extensions. Banks offering is paltry as my husband works 2 jobs and so they will only take 50% of his second job into account. Can't believe I'm stuck renting in my 40s, sitting on a decent deposit and saving away....and all for nothing. Getting outbid on every house we like, even those that we know we'd have to plough more money into. So frustrating.

Its really frustrating but we're trying to make the best of it. I never imagined when we left our last house 14 months ago that we'd still be juggling kids, work & school between 2 counties at this stage but here we are. Its not ideal & we're under pressure as we're also in our 40's but we'll rent if theres no end in sight by year end.

Nika Bolokov

Markitron wrote: »

And even after you spend all this money, the house still won't be in Raheny

Haha :-)

Sweet.Science

Markitron wrote: »

And even after you spend all this money, the house still won't be in Raheny

Raheny when selling . Coolock when buying

decreds

Markitron wrote: »

That house is in Edenmore, not Raheny. The ad says it is 'minutes walk from Raheny village' it is actually closer to Coolock village than Raheny village.

Paying 400k for that would be straight-up lunacy if it was actually done up really well, paying 400k for it in that state should have you sectioned.

Couldn't agree with you more, i seriously hope the purchasers are awash with cash and not borrowing their life away for that trash.

Sweet.Science

decreds wrote: »

Couldn't agree with you more, i seriously hope the purchasers are awash with cash and not borrowing their life away for that trash.

There's literally nothing you would keep in that house . You are paying 400k for the land nearly

pleh

Progress made, contracts with our brief. Starting the clock now

FastFullBack

Went sale agreed last week (I am the seller). I now need to view some properties that I am potentially going to rent. Is it OK to travel beyond 5KM for this purpose?

Graham

Mod Note

General property market chatter moved to this thread

Please read the mod note in post #1

Thanks

Gael23

What is the typical commission charged by an EA outside Dublin?

Teacher2020

Gael23 wrote: »

What is the typical commission charged by an EA outside Dublin?

Kilkenny/Carlow - ours is 1.5%

Signed contracts for buying and selling 2 weeks ago yesterday.
Solicitor still cannot give us a closing date.
I could scream at this stage - I'm sick of them using COVID and remote working as an excuse constantly!

CarMc

Sweet.Science wrote: »

Just from a personal point of view I was in same position . Kept getting outbid . Realized If I wanted to buy I had to change location . I did and went sale agreed

Same here, we were getting outbid on every house in our preferred location, switched location and I'm now living in our new house and love it.

optogirl

CarMc wrote: »

Same here, we were getting outbid on every house in our preferred location, switched location and I'm now living in our new house and love it.

We are really reluctant to move outside of our preferred area
a) babysitters on tap (8 adults & 4 teenagers in the family within walking distance)
b) kids happy in school (eldest with aspergers and gets great support)
c) both able to commute easily to work
d) kids' friends all in the area

I know we are the type that make others teeth itch 'wanting to be beside family' etc but really we would rather rent in Dublin where our whole world is than buy a big house in Leitrim and have to uproot jobs/schools and start paying for childcare

Padre_Pio

optogirl wrote: »

We are really reluctant to move outside of our preferred area
a) babysitters on tap (8 adults & 4 teenagers in the family within walking distance)
b) kids happy in school (eldest with aspergers and gets great support)
c) both able to commute easily to work
d) kids' friends all in the area

I know we are the type that make others teeth itch 'wanting to be beside family' etc but really we would rather rent in Dublin where our whole world is than buy a big house in Leitrim and have to uproot jobs/schools and start paying for childcare

Both A and C are big $$$ if you move too far away.

For all the thousands you might save on buying a house in the sticks, you may lose on commuting costs over the years.

Sweet.Science

optogirl wrote: »

We are really reluctant to move outside of our preferred area
a) babysitters on tap (8 adults & 4 teenagers in the family within walking distance)
b) kids happy in school (eldest with aspergers and gets great support)
c) both able to commute easily to work
d) kids' friends all in the area

I know we are the type that make others teeth itch 'wanting to be beside family' etc but really we would rather rent in Dublin where our whole world is than buy a big house in Leitrim and have to uproot jobs/schools and start paying for childcare

The reality is you would need at least 350k to get your hands on a property in Dublin 7 at the moment .

So you will be left with having to make decision between 3 options

Stay renting
Apartment instead of a house
Move a bit outside Dublin 7 . Dublin 15 would be best if you wanted a 3 bed semi