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Worth getting a mortgage now

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  • 30-12-2021 3:50pm
    #1
    qwq
    Registered Users Posts: 15 ✭


    Do you think in general it is worth getting a mortgage now or waiting a couple of years to see if prices drop? Thinking of applying for a Rebuilding Ireland Home Loan as not earning enough to get a mortgage from the banks. Not sure if it's a wise move right now though as maybe there'll be a big increase in supply in the next few years and I'd have a lot more choice. Thanks.

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    #2
    DubCount
    Registered Users Posts: 1,089 ✭✭✭DubCount


    There are a lot of opinions out there. Maybe prices will continue to rise, maybe a crash will come, maybe prices will stagnate. Anyone who says they know is wrong - they dont know - nobody does.

    Buying a property to live in is a long term decision. If you can afford to buy a property that will suit your needs for 10+ years then go for it. Over the next 20 years prices will go up and down, but they will end up higher than they are today. We'll have all kinds of government interventions, market reactions and trends. In a long game, these things are less important. IMHO, concentrate on finding a home that you are happy with. Second guessing the market in the short term is a mugs game. Speak to someone who bought in 2008 (probably the worst time to buy in recent history) - by now they in a better position than when they started.



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    #3
    PSFarrell
    Registered Users Posts: 60 ✭✭PSFarrell


    Its hard to see a price drop in the next few years given the demand that exists...As Dubcount has said its a long term investment. If the right property comes along and you can afford it then it would be a no brainer for me.



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