2021 Irish Property Market chat - *mod warnings post 1*

TobyHolmes

can someone tell me what the banks consider a commutable distance?

Belt

Leftwaffe wrote: »

Could anyone shed a little light on this for me.

How much does a planning application cost from start to permission being granted? Self build on a site bought subject to planning. Architect doing drawings and application. Modest size house in rural area, approx 2000sqft mid range spec.

I’m hearing some people saying 10k but a financial advisor in the locality told me 2k, if even that.

Both are right, it can be anywhere in between and maybe more depending on the design you're looking for. It also depends where you're based.

I'm in rural Meath, and it is costing me c .€4k to get planning for a 2.400 sq foot house. That is made up of €3.5k architect fee and €500 for a percolation test, actual planning application fees to the council were €60 I think.

Be warned, the costs of building have shot up this year due to material price increases and shortage of labour so builders are in a position to name their price. If you have to buy a site, I don't think it makes sense to build your own house any longer from a financial viewpoint

klose

A lot of properties going up the last fortnight in my area (South tipp) which is good to see, local estate agent is doing viewings assuming with proof of AIP too, hopefully the trend continues.

Belt

Belt wrote: »

Both are right, it can be anywhere in between and maybe more depending on the design you're looking for. It also depends where you're based.

I'm in rural Meath, and it is costing me c .€4k to get planning for a 2.400 sq foot house. That is made up of €3.5k architect fee and €500 for a percolation test, actual planning application fees to the council were €60 I think.

Be warned, the costs of building have shot up this year due to material price increases and shortage of labour so builders are in a position to name their price. If you have to buy a site, I don't think it makes sense to build your own house any longer from a financial viewpoint

Log cabin will be made by order in Eastern Europe brought and fitted by factory team no problem.Perfect prices due with lack of orders in Scandinavia and Europe due with economy downturn.Well due with lockdown it could be problem at the moment.My mate got one in Ireland 3 beds before Covid for 55K with curtains on windows included.Don't know what price he paid for site and communications.

L1011

PropQueries wrote: »

By the end of July, we will know exactly where we stand and the actual future impact on the governments finances IMO

Whereas looking at it from a point of view that knows how slowly things go, by the end of July they'll still be talking about it.

Just putting "IMO" on the end of off the wall beliefs does not make them bulletproof to criticism and examination.

Leftwaffe

Belt wrote: »

Both are right, it can be anywhere in between and maybe more depending on the design you're looking for. It also depends where you're based.

I'm in rural Meath, and it is costing me c .€4k to get planning for a 2.400 sq foot house. That is made up of €3.5k architect fee and €500 for a percolation test, actual planning application fees to the council were €60 I think.

Be warned, the costs of building have shot up this year due to material price increases and shortage of labour so builders are in a position to name their price. If you have to buy a site, I don't think it makes sense to build your own house any longer from a financial viewpoint

Thanks for this. I had thought 10k was a high estimation. Should one shop around locally for architects for a good price? Or is it best to go with one who is well regarded?

Also, at what stage do I get quotes from contractors? Do I do this after I have planning permission granted?

I spoke to my financial advisor today and he said its perfectly feasible for us to build in this climate although, as you said, he mentioned building prices going on up a bit. I'm new to all this and I have never had as many questions about something in my entire life.

PropQueries

PropQueries wrote: »

By the end of July, we will know exactly where we stand and the actual future impact on the governments finances IMO

If it’s €6 billion and not €2 billion like Paschal is hoping, he will need to tell all departments to pull back on spending immediately.

Why? Because even if the full impact doesn’t take effect until 2022 or 2023, does he want to reign in spending by the full €6 billion in one year and create a massive, possibly fatal shock to the economy or spread it out and wean us off a bit more gently?

Caveat: I’m assuming Paschal doesn’t want to be this generations Brian Cowen

2008 mess cost government 44 billions with 16 per cent unemployment
The planes were flying the hotels and restourants were open
Today all economy are dead and only 6 billions are lost ?

fliball123

Revolution 1917 wrote: »

2008 mess cost government 44 billions with 16 per cent unemployment
The planes were flying the hotels and restourants were open
Today all economy are dead and only 6 billions are lost ?

We were 200billion in debt after 08 the banks added 44 billion. The 6 billion he is talking about would be part of our deficit going forward so on a yearly basis it would need to be found

Any thoughs about people finally will be repossessed if doesn't pay the mortgage bill ?
Country finally getting extra property when ammount of homeless remain the same because one family in one out
The banks finally will start make profit and prices will finally stabilise because many will have think twice before buy house taking mortgage
Bigger competition on mortgage market what will bring cost of mortgage down
The lower the rate the more people will aford take mortgage what will good for builders and all other
Will government finally go for it due with low budget income and spending cuts ?
Because closed branches of Ulster bank,KBC,Bank of Ireland will bring at least 4000 unemployed soon

fliball123

Revolution 1917 wrote: »

Any thoughs about people finally will be repossessed if doesn't pay the mortgage bill ?
Country finally getting extra property when ammount of homeless remain the same because one family in one out
The banks finally will start make profit and prices will finally stabilise because many will have think twice before buy house taking mortgage
Bigger competition on mortgage market what will bring cost of mortgage down
The lower the rate the more people will aford take mortgage what will good for builders
Will government finally go for it due with low budget income and spending cuts ?
Because closed branches of Ulster bank,KBC,Bank of Ireland will bring at least 4000 unemployed soon

If its a repossession of the family home these people will still have to be housed.

Villa05

schmittel wrote:

Anybody who has tried to start something new has pitched it too far to one extreme or the other, when the majority are in middle.

Has anyone taken the patent for the common sense party in this country.
I suspect, not

Many of the solutions to our problems are simple and can be drawn from right leaning and left leaning ideology

fliball123

fliball123 wrote: »

If its a repossession of the family home these people will still have to be housed.

The family which will buy them house will empty place for them in rented property.The Reit or similar has and will have enough property for rent.Finally taking house for repossesion in good location bank could offer family which doesn't pay bill house in bad and cheap area were this familly will afford pay bills to the bank as rent.
But at the moment we getting bigger mess which getting bigger as snow ball.
Banks are closing or leaving creating bigger problems

wassie

Leftwaffe wrote: »

Thanks for this. I had thought 10k was a high estimation. Should one shop around locally for architects for a good price? Or is it best to go with one who is well regarded?

Also, at what stage do I get quotes from contractors? Do I do this after I have planning permission granted?

You should head on over to the Construction & Planning forum. https://www.boards.ie/vbulletin/forumdisplay.php?f=876

Good luck with it all

wassie

fliball123 wrote: »

If its a repossession of the family home these people will still have to be housed.

This is what happens in other countries that have full recourse mortgages...

...unlike Ireland which does partial-no-it'll-be-grand-pay-us-if-you-feel-like-it recourse mortgages.

James 007

I have been keeping an eye out on property over the last year & am planning to buy an apartment. Nothing takes my fancy in Dublin at the moment & am looking at some apartments a bit outside Dublin. I have been saving up a deposit & this one I have my eye on this one at the moment, the interior is to my style & I will be WFH 3 days a week for now, any thoughts:)

https://www.youtube.com/watch?v=jV3jKbTId1I

Shelga

James 007 wrote: »

I have been keeping an eye out on property over the last year & am planning to buy an apartment. Nothing takes my fancy in Dublin at the moment & am looking at some apartments a bit outside Dublin. I have been saving up a deposit & this one I have my eye on this one at the moment, the interior is to my style & I will be WFH 3 days a week for now, any thoughts:)

https://www.youtube.com/watch?v=jV3jKbTId1I

Lol! :pac: I'm not particularly afraid of heights but I think that place would be a bit much for me! Also, $46m and no outside space??

I mean, I suppose it would suffice for a while anyway

wassie

One of many cool 'Pencil Tower' developments in New York. Amazing. And we struggle with 20 storeys as a concept!

Hubertj

wassie wrote: »

One of many cool 'Pencil Tower' developments in New York. Amazing. And we struggle with 20 storeys as a concept!

If we forget about the prices charged for apartments in some of the developments over there they really are very innovative in how they make use of space, Hudson Yards is another example the way it is constructed over the rail sidings yards

fliball123

wassie wrote: »

This is what happens in other countries that have full recourse mortgages...

...unlike Ireland which does partial-no-it'll-be-grand-pay-us-if-you-feel-like-it recourse mortgages.

I am not arguing that this shouldnt happen I am trying to say that we have a shortage of houses so one person would get a house to buy and one would get one to rent it doesnt help the number of people who need a house in anyway its a zero sum game when it comes to the amount of houses that are actually needed.

Marcusm

PropQueries wrote: »

They may do that anyway. A chief executive of HSBC in London will now also be hotdesking. According to the Irish Times three days ago he said:

“Quinn told the newspaper that he won’t be in the office five days a week, saying “it’s unnecessary” and “the new reality of life.”

If the head honchos of one of the biggest banks in the world says he doesn’t need an office, why does anyone else?

And, no, such employees are not moving to the west of Ireland where it’s rain, cold and wind for most of the year

Link to article in Irish Times: https://www.irishtimes.com/business/financial-services/hsbc-top-staff-to-hot-desk-after-scrapping-executive-floor-1.4541134?mode=amp

Noel Quinn did not have an office from 2003 up until 2020 as there were only 8 formal offices in that building for 8,000 people. There will still be some office later but not permanently allocated. The funny thing is that the layout they used for illustration was more poorly set out than when I left there in 2010! You can’t confuse PR/comms with fact. On average, I doubt he will spend 75 days there per year.

hometruths

fliball123 wrote: »

I am not arguing that this shouldnt happen I am trying to say that we have a shortage of houses so one person would get a house to buy and one would get one to rent it doesnt help the number of people who need a house in anyway its a zero sum game when it comes to the amount of houses that are actually needed.

And if it is a zero sum game I guess all these houses are exactly the same size with exactly the same number of occupants?

fliball123

schmittel wrote: »

And if it is a zero sum game I guess all these houses are exactly the same size with exactly the same number of occupants?

Well give or take yeah. the clue is in the term "Family home" one family would get to move in and one would have to be housed by the govenement. I would be all on for the bank repossessing by the way

[Deleted User]

[Deleted User] wrote: »

Any thoughs about people finally will be repossessed if doesn't pay the mortgage bill ?
Country finally getting extra property when ammount of homeless remain the same because one family in one out
The banks finally will start make profit and prices will finally stabilise because many will have think twice before buy house taking mortgage
Bigger competition on mortgage market what will bring cost of mortgage down
The lower the rate the more people will aford take mortgage what will good for builders and all other
Will government finally go for it due with low budget income and spending cuts ?
Because closed branches of Ulster bank,KBC,Bank of Ireland will bring at least 4000 unemployed soon

Friend of mine is now 9 years without paying a penny off her mortgage. Still living there and will be for the foreseeable

hometruths

fliball123 wrote: »

Well give or take yeah. the clue is in the term "Family home" one family would get to move in and one would have to be housed by the govenement. I would be all on for the bank repossessing by the way

This is yet another of our housing myths that seems to have gained widespread acceptance without anyone pausing to think "Hang on, that's not really plausible by any stretch of the imagination."

It's bonkers.

LasersGoPewPew

bubblypop wrote: »

Friend of mine is now 9 years without paying a penny off her mortgage. Still living there and will be for the foreseeable

Can you elaborate how she is milking the system? Does she have kids, lone parent, unemployed? This ****e makes me sick to read, the house should be repossessed.

fliball123

schmittel wrote: »

This is yet another of our housing myths that seems to have gained widespread acceptance without anyone pausing to think "Hang on, that's not really plausible by any stretch of the imagination."

It's bonkers.

?? what is?? If someone has a family and a family home where they cant afford the mortgage repayments and the house is repossessed they are hardly gong to be able to afford the rent so they will need some kind of assistance to get housed.

hometruths

fliball123 wrote: »

?? what is

The idea that all the people who are in mortgage arrears would need to be housed by the government.

Taylor365

LasersGoPewPew wrote: »

Can you elaborate how she is milking the system? Does she have kids, lone parent, unemployed? This ****e makes me sick to read, the house should be repossessed.

I mean, she'll never own her own property without buying it outright now.


9 years of craic for a lifetime of scratch/renting.

PropQueries

Marcusm wrote: »

Noel Quinn did not have an office from 2003 up until 2020 as there were only 8 formal offices in that building for 8,000 people. There will still be some office later but not permanently allocated. The funny thing is that the layout they used for illustration was more poorly set out than when I left there in 2010! You can’t confuse PR/comms with fact. On average, I doubt he will spend 75 days there per year.

So, they have a building for 8,000 workers (incl. the Chief Executive) and all are hot-desking.

What’s the point as if they’re all hot-desking, where’s the collaboration, brainstorming etc. happening?

Might as well save the cash and anytime they want a meeting, book a meeting room at some local hotel?

fliball123

fliball123 wrote: »

?? what is?? If someone has a family and a family home where they cant afford the mortgage repayments and the house is repossessed they are hardly gong to be able to afford the rent so they will need some kind of assistance to get housed.

schmittel wrote: »

The idea that all the people who are in mortgage arrears would need to be housed by the government.

Can you explain your logic?