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Top considerations when buying first property?

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  • 18-04-2020 6:23pm
    #1
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭


    So what are everyone's top 3 or 5 most important factors when buying a property for the first time.


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    #2
    Alrigghtythen
    Closed Accounts Posts: 1,365 ✭✭✭Alrigghtythen


    Location

    Size of garden

    Size of house

    Shed/other workshop


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    #3
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    Location, Location, Location.

    Location, Location, Location, Location, Location.

    In before someone else :rolleyes:


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    #4
    DubCount
    Registered Users Posts: 1,089 ✭✭✭DubCount


    Location
    Location
    Location

    Anything else is miles behind


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    #5
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    On a serious note

    Affordability above all else.

    Public Transport links to Dublin City Centre
    Size of House
    Size of Garden

    Location
    State of the property.

    But then I don't have kids so.


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    #6
    Rows Grower
    Registered Users Posts: 8,033 ✭✭✭Rows Grower


    Ability to afford repayments.

    "Very soon we are going to Mars. You wouldn't have been going to Mars if my opponent won, that I can tell you. You wouldn't even be thinking about it."

    Donald Trump, March 13th 2018.



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    #7
    Dylan94
    Banned (with Prison Access) Posts: 179 ✭✭Dylan94


    Vance Future Lockjaw wrote: »
    So what are everyone's top 3 or 5 most important factors when buying a property for the first time.

    1. Location (No more than 30 minutes from work/home area and decent restaurants nearby)
    2. Back garden size/aspect (we spend a lot of time in the Garden)
    3. Size of kitchen
    4. House layout
    5. A spacious feeling estate.


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    #8
    Salary Negotiator
    Closed Accounts Posts: 1,148 ✭✭✭Salary Negotiator


    Location
    Affordability
    Suitability


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    #9
    Sos88sos88
    Registered Users Posts: 63 ✭✭Sos88sos88


    Vance Future Lockjaw wrote:
    So what are everyone's top 3 or 5 most important factors when buying a property for the first time.


    Sell on value, assume its not your forever home so where does this leave you


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    #10
    Salary Negotiator
    Closed Accounts Posts: 1,148 ✭✭✭Salary Negotiator


    Sos88sos88 wrote: »
    Sell on value, assume its not your forever home so where does this leave you

    I disagree 100%. Buying a property that you know isn’t a forever home is a bigger risk because sell in value is irrelevant if you can live there forever.


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    #11
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    Not a housing estate, no neighbours on top of you.
    Reasonably close to a big town but not in one (within 30km).
    As little garden as possible.
    Large kitchen.
    Broadband availability.

    Obviously price is the main thing but that goes for most normal people and it’s the one where it all falls down for me. Only about 60k saved and both tearing the arse out of 40 years of age so it’s not do-able. Rent for life.


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    #12
    Technoi
    Registered Users Posts: 21 ✭Technoi


    Location,
    Future proofing in size if having kids.
    Aspect, where is the sun going to be when you want it.


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    #13
    TheW1zard
    Registered Users Posts: 1,341 ✭✭✭TheW1zard


    Parking, side access and orientation were my 3


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    #14
    butrasgali
    Registered Users Posts: 283 ✭✭butrasgali


    Will property prices take a dive during this virus, what do ye think


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    #15
    Sparky85
    Registered Users Posts: 120 ✭✭Sparky85


    Affordability
    Location
    South/West facing Back garden
    Neighbours (check them out before buying)
    Ability to add value / renovate / extend
    Private driveway / Parking


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    #16
    Bigmac1euro
    Registered Users Posts: 1,466 ✭✭✭Bigmac1euro


    In my own experience number 1 is location.
    2 affordability
    Number 3 is transport links.
    Number 4 is garden/gardens road the way in which the property is situated.
    Number 5 is size


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    #17
    Steer55
    Closed Accounts Posts: 226 ✭✭Steer55


    Salary Negotiator wrote: »
    I disagree 100%. Buying a property that you know isn’t a forever home is a bigger risk because sell in value is irrelevant if you can live there forever.

    I often hear the phase 'the day you buy is the day you sell'

    You may think its a forever home but people's lives change, job losses, emigration, divorce, illness etc etc


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    #18
    awec
    Administrators Posts: 53,802 Admin ✭✭✭✭✭awec


    Sell on value shouldn’t come into it. If you think you’ll be selling it in the near future don’t buy it.

    If you think you’ll be selling it in the long term and you think you can predict the sell on value in the long term then you’re a bluffer.

    Location, suitability for your family needs for the long term, ability to afford mortgage payments (more important than the actual sale price), schools, closeness to family and friends etc should all be top of the list.

    Don’t act like an investor, don’t try and speculate on the market unless you can afford to get burnt.


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    #19
    dubrov
    Registered Users Posts: 3,569 ✭✭✭dubrov


    I am not sure if it has been mentioned yet ....

    Location


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    #20
    punisher5112
    Registered Users Posts: 24,644 ✭✭✭✭punisher5112


    Location
    South facing garden
    Access to rear
    Drive
    Estate that's well established and less chance of unruly neighbours.....
    Ease of transportation links and shops.
    4 bed 3 bathrooms
    Space to extend such as out the rear or a big attic...
    Cul de sac and not near entrance to the estate as more traffic and noise pollution.
    View would be in there but not totally essential to be honest.....


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    #21
    antimatterx
    Registered Users Posts: 2,800 ✭✭✭antimatterx


    I'm looking to buy an apartment in a year or two. I'm not going to buy anything outrages, but something in the 200K - 230K range would do me fine. Cheap repayments and I get my own place.

    If I meet a girl and we want to start a family, great. We can move. But repayments will be much less than a mortgage, so we would have loads of breathing room to save.


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    #22
    punisher5112
    Registered Users Posts: 24,644 ✭✭✭✭punisher5112


    antimatterx wrote: »
    I'm looking to buy an apartment in a year or two. I'm not going to buy anything outrages, but something in the 200K - 230K range would do me fine. Cheap repayments and I get my own place.

    If I meet a girl and we want to start a family, great. We can move. But repayments will be much less than a mortgage, so we would have loads of breathing room to save.

    Don't do it.....


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    #23
    antimatterx
    Registered Users Posts: 2,800 ✭✭✭antimatterx


    punisher5112 wrote: »
    Don't do it.....

    Why would you say that? I need a place to live in.

    Am I supposed to live with my parents forever? I'm 24, so I have loads of time to save and upsize.


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    #24
    shesty
    Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 6,906 Mod ✭✭✭✭shesty


    Future proofing...if we have a kid or two can we live here comfortably.
    Aspect for me is important, where is the sun (I don't like south facing)
    Location.Those 2 are almost equal in importance.


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    #25
    punisher5112
    Registered Users Posts: 24,644 ✭✭✭✭punisher5112


    antimatterx wrote: »
    Am I supposed to live with my parents forever?

    Hell no.....


    Just reconsider buying an apartment unless you have really done your homework on it and it's not going to be the typical sh1t built ones out there that cost a fortune to rectify.....

    Cost of up keep and maintenance of grounds with fees and so on.....

    Highly restricted living to be honest and I'd never live in one again.


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    #26
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    antimatterx wrote: »
    Why would you say that? I need a place to live in.

    Am I supposed to live with my parents forever? I'm 24, so I have loads of time to save and upsize.


    Unless all that saving is just to cover the negative equity. In fairness if apartments fall off a cliff like I think they're going to, it might not be a bad plan. At current prices though...

    As above though home work is key - You need to investigate the OMC, especially during a recession and make sure there is proper sound proofing.


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    #27
    Salary Negotiator
    Closed Accounts Posts: 1,148 ✭✭✭Salary Negotiator


    Steer55 wrote: »
    I often hear the phase 'the day you buy is the day you sell'

    You may think its a forever home but people's lives change, job losses, emigration, divorce, illness etc etc

    Exactly.

    A home that was bought for the long term will weather all those storms better than a speculative temporary home.


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    #28
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    punisher5112 wrote: »
    Location
    South facing garden
    Access to rear
    Drive
    Estate that's well established and less chance of unruly neighbours.....
    Ease of transportation links and shops.
    4 bed 3 bathrooms
    Space to extend such as out the rear or a big attic...
    Cul de sac and not near entrance to the estate as more traffic and noise pollution.
    View would be in there but not totally essential to be honest.....

    4 bedrooms is a large house. That would cost a bomb in a half decent location in Dublin. I'm sale agreed on a 2 bed apartment close to the dart and bigger than most local houses. Considering my options but I do like apartment living.


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    #29
    punisher5112
    Registered Users Posts: 24,644 ✭✭✭✭punisher5112


    Vance Future Lockjaw wrote: »
    4 bedrooms is a large house. That would cost a bomb in a half decent location in Dublin. I'm sale agreed on a 2 bed apartment close to the dart and bigger than most local houses. Considering my options but I do like apartment living.

    Well it doesn't have to be Dublin, well I didn't and I've landed a 4 bed out of the madness,away from the traffic and nice a quiet....


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    #30
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    punisher5112 wrote: »
    Well it doesn't have to be Dublin, well I didn't and I've landed a 4 bed out of the madness,away from the traffic and nice a quiet....

    Well done! Fair play to you


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    #31
    lcwill
    Registered Users Posts: 259 ✭✭lcwill


    antimatterx wrote: »
    Why would you say that? I need a place to live in.

    Am I supposed to live with my parents forever? I'm 24, so I have loads of time to save and upsize.

    If you can pay off the mortgage on the apartment fast, or are able to pay mortgage and still put aside other savings then I think it is a good move.

    Paying a mortgage rather than rent through your 20s can set up for life.

    And it's no problem for a couple to live in a one bed, even with a kid, until kid is 2-3 years old they will stay in your bedroom anyway. This is what we did, one-bed apartment until the second kid came along. Can be a pain in the ass for your neighbours but no problem for you :)

    At that stage you should have built up some equity in the apartment so you can either sell to help finance a bigger place or keep it and rent it out.


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