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

Hi All,

My partner and I are due to view a new build in a new estate this week. I have been constantly in touch with the estate agent as we are very interested. Got a call today and she informed me that the next full phase would not be releasing in June as previously planned, but that a few units would be available.

The EA is aware that we are availing of the Help to Buy Scheme but she asked me today if we were availing of the first home scheme and if our budget could go over that (475k for the area). Judging by the property price register, other similar houses in the development have gone for much less than this (400k - 450k) in the last month. Obviously we will find out details of what's available and prices at the viewing but just wanted to get peoples thoughts on this? The fear would be that there is a property that we really like but could be offered to us for say 480k, even though a similar one could have gone for 450k down the road... What kind of negotiating power would we have given that it's a new build?

Thanks

Bear in mind, the prices listed on the Property Price Register for new builds exclude VAT. You need to add 13.5%. So a listing for €400k actually sold for €454k.

The register is very poor in design / transparency.

While additional phases do tend to increase the price, if you're not factoring in VAT on the Register price, the jump may not be as large as you perceive.

Can anyone give an indication of how long the BoI Cash Back takes to come through? The website says within 45 days, we are just on that now and no sign, not sure if we should follow up or just give it another few days. Any else in the same boat? Thanks

I’m not very active in this thread but finally after 3 refusals and 2 appeals and enduring the sh*t show that ABP is currently we received a full and clean grant…I can not convey their sheer relief and excitement I feel, not to mention smugness( only bc the delay is down to one neighbour who has fought tooth and nail to keep us from being able to build) …

Went Sale agreed on a House 2 weeks ago for 290000, another house in the same estate in similar condition has gone on sale for 270000, Is there still chance for me to negotiate with the current seller? I am in the process of getting a full loan offer.

As the other poster said above, the asking price of €270k means absolutely nothing.

You can absolutely negotiate, but you have to be willing to seriously p*ss off the seller and perhaps even lose out on the house

I bought back there at Christmas.

BOI issued funds 8 Dec, my sale completed on 16 Dec, cashback was in my account on 20 Dec.

That was less than 10 working days, it was a pleasant surprise for sure.

Asking price doesnt mean a lot. Been to plenty viewings where agent makes clear seller looking for more. Generally if house is turn key theyll price it low to get people in. Hope is you fall in love with it and bid more than thought.

What are people's thoughts on buying new versus buying second-hand? We are trying to buy in the Greystones/Delgany area and are between a 4 bed A2 new build and a bigger 5 bed house that is 20 years old BER B2 and in a beautiful established estate. They are within 5 mins walk from eachother so the neighbourhood/distance to village & schools is the same. The second-hand house needs some work done, a wall knocked down and a new kitchen put in and the bathrooms are all quite tired and all flooring needs replacing. It's cosmetic work but our budget would only stretch so far depending on what offer was accepted. We are under pressure to move asap as we are moving from another area and the kids will start school there in September. The new build is really lovely, we'd have the benefits of everything being new, a lovely green and playground across the road, no bidding wars, but the negative is we were hoping for more space and it is the same size as our current house. We could convert the attic for more room in a few years but our budget wouldn't allow for that now.

Any thoughts?

Would go for the second hand house if I was you.

I personally hate the brand new ones, no personality cookie cutters

We opted for a second hand house. Anything in our price range for new came with little to no garden, generally no driveway, houses on top of eachother, incredibly narrow roads, generally a distance to amenities and services.

We bought in a mature estate, decent front garden, driveway for 1 car, plenty of space on the road for another, large back garden, purpose built garage/office out the back. Bus and rail less than 5 minutes walk each. Roads lined with mature trees. The house itself definitely needs some work but we were lucky, it'll do us for a few years until we figure out what we want to do.

At the beginning I was set on a new build but all the external factors turned me towards second hand.

Another factor. Permeability

We went with a 50yr old place v's new build because it had a number of good permeability (walking and cycling links) to a neighbouring estate and also neighbouring roads so provides good access from different directions.

Also has many benefits already mentioned by other posters. Mature estate, good size front garden with a wall and hedge boundary , driveway for 1 car, back garden with tree providing shade for rear Garden. Nice in this weather. Front garage - real easy to get bikes in and out. 2 bus routes 5 minute walk (one via that permeability link). Large green areas in the estate have mature trees. BER was C1 because Oil fired boiler was upgraded 5/6 years ago + zoned heating and they had pumped walls . Can see us hitting BER of B1/A2 easy enough by putting in NEW windows (current ones about 25/20 yr old I'd say) and throwing panels up on the roof and a heat pump. The house needs modernising work but will do for a few years until we know what we need. Don't see any extension build needed as floor area is sufficient for us - just one/two internal wall changes and larger windows). Short term we thought ya a NEW build would have suited us for next 5yrs when kids are young but then after that we could only see downsides and unknowns as they are generally been built on the edge of the City - all the benefits we currently have now would heavily outweigh in the medium to long term and even I already seen benefits in the short term that had not factored in like a more mixed neighbourhood in terms of age profiles which means don't have a tidal flow of everybody leaving for work in the mornings and have a more neighbourhood/village feel to the place as a result even though we are in the City.

Was it originally a Council house? If so, was it purchased by tenants in the past and folio was never updated following purchase? Happens a lot.

Sold mothers house some years ago and discovered it was sitting on the local Council's Folio of all land they owned in the area, not just her house. Contacted the Council and turned out it was a simple mistake when boundaries were being drawn some years previously as location was going from one Council's area of responsibility to another LA due to boundary extension of LA. The house was never a Council house and had never been sold on open market, handed down to family members for generations, so only discovered in recent times. Easy enough fix, Council agreed it was an error and applied to have it removed from their folio and placed on it's own folio number with Land Registry.

That's helpful thanks, I'm under the assumption that it was never a council home so maybe that makes sense that it was a mistake being on the council folio. Will hopefully hear this week on what the story is.