gurupk

gurupk

Hi all, Is it a bad idea to buy a new build 3 bed Semi (115sqm) for 400,000 euros (30,000 HTB incl) where the average used house in the same area goea around 325000 Euros? Is the newbuild worth the 20% premium? Are there more chances of newbuild going into negative equity? Can you suggest please.

Buddy Bubs

Energy bills alone at the moment favour new builds with energy efficiencies. But so many variables here, what's the BER of the old house, does it need any repairs and upgrading, do both houses have space for parking you need, gardens etc

If the house is one you are happy to live in for a good few years and happy to pay the price for, don't worry about negative equity. That's for when you sell.

Nobody here knows where house prices are going. Personally I think they've reached a peak and will plateau. But I thought that in 2020 too and they've risen 25 to 30% since, which wasn't the generally expected thing to happen

gurupk

sfg

gurupk

https://www.boards.ie/discussion/comment/119599363#Comment_119599363

@Buddy Bubs Both the houses are around 115 sqm, the older one has a little less built-up area but a larger front and back garden. BER C rating. One of the positive factors of the new house is that the estate will all be young families and we have a year-old kid ourselves. Other than that I am not a big fan of Scandi-styled new build houses. I guess the amount spent on new build flooring, blinds will cancel out any move-in time fix we would do in the used house. I could be wrong though. Based on numbers, I will be spending 30,000 to 40,000 Eur extra for buying a new build and 90,000 to 100,000 EUR extra on a 30-year mortgage.

So to summarise, a single most question I don't have an answer for is whether the new build is worth the extra cost. and whether used houses are truly expensive to maintain in 10 -15 years' time.

Both locations are near to each other, so there is not much location advantage. it's in Newbridge, Kildare.