Irish Property Market chat II - *read mod note post #1 before posting*

Better to have grandparents on limited incomes maintaining an oversized home on the off chance you might call then

I know of parents that sold up and moved to where there children moved to

The things holding many back are the risk of bad neighbours in an apartment and the fact that the Fair Deal scheme is likely to eat up any excess money you have if you enter it. Financially an elderly parent who wants to do inheritance planning and doesn't need much liquidity is better off upsizing rather than dawnsizing. If they had dedicated housing schemes for older people and a reform of Fair deal it would help a lot.

Seven figures to live a long car journey from civilisation in something that lacks any architectural merit, landscaping or views and where the 'tennis court' doesn't have a fence. In the words of picture 12: winter is coming.

I agree with the logic but...800k to build?

Have things gone that mental?

I think you are married to your revelation and fail to see any holes in it.

Its like the kid who gets lambasted because they cant sing on Britains got talent and then they interview them backstage and they say "Well I know im a great singer and they are all wrong so im going to keep going til i get a record deal".

another 100k added to that now…. these are the people in charge. absolutely unbelievable.

There's bidding on a house in Clare at the moment that has (so far) gone 35% over asking - and I think it will keep going a bit more. Pent up demand for sure (there's 5 active bidders), but part of the problem is the EA setting the "asking price" way too low. It was obvious from the get-go that it was only set to get as many people as possible to the open viewing (which worked), and that asking + 150k was the real starting point.

We're trying to move from a perfectly fine 4 bed semi-d to something a bit bigger with more space inside and out. We have what we thought was a very good budget. But there's clearly a good number of people out there with bigger ones. We're having to reset expectations.

You're right, it is extremely disheartening.

Data harvesting, everyone of those viewers is a weapon for the estate agent in driving up future sales

Came in to post that story from The Journal

€15k cash and €15k of home improvements. A casual €30k for making an objection.

No wonder nothing gets built in this country with multiple objections.

Hopefully Revenue goes after this one and makes an example of her to stamp out this crap. And they should audit the living bejaysus out of the developer too.

FG local candidate suspends campaign after report she received money to withdraw planning objection
https://jrnl.ie/6391740

We went through that so many times. We then came up with a plan that as soon as a house we liked came on the market we went straight in 50k over asking with the thinking that it would scare everyone else away when they saw it jump 50k on day 1 and that the vendor would bite our hand off. And that, like all the other places we bid on, we would eventually end up there or higher if we bid in increments anyway, so why not just put our single bid in at the start.

Anyway it worked (we went a little over 50k over asking after a few phone calls) and it was sale agreed in less than a week and we have our house now. I think if we were bidding in smaller increments it would still be going and looking at a house across the road that went for 100k more that is exactly the same but with a smaller garden a couple of months later, i think we did the right thing and got lucky.

You make it sound like all grand parents are struggling. If they are happy and willing to live in their property like they have all their lives, then let them do what they like with the house they spent their lives buying and blood, sweat and tears making it a home.

So let the ones on limited incomes who cant afford it make their own decision on whether if they want to downsize. Any who have the means, well let them keep the fruit of their lifes labour, if they want, I say.

Mania phase, househunters have my full sympathys

Dont feel sorry for me. I am in charge of my own destiny. If there is a crash, there is a crash, but at least im in my own house during it and not renting. You should make some money for yourself with you knowledge of the future though :)

I'm assuming if you've purchased your not a househunter, therefore that particular comment was not directed at you but those that come after you

Spot the many outcomes of a dysfunctional property market in this one short comment

1 No properties for a large homeowner to downsize to

2 those that are available cost more or very close to the price of a 3/4 bed. No incentive for efficient allocation of housing

3 children probably earning proportionatly significantly more than parents were, are living far away from parents and enduring long commutes

4 families in hotels and tourists in residential homes leading to unaffordable hotel rooms killing the tourist trade