Yup. As previous poster says, it's a buyer's market. Go low with your offers unless you really have your heart set on a particular house. Anyone selling won't get their asking price unless they're incredibly lucky! |
Reply privately, Reply in forum +quote
or View forums list | |
 |
By (user no longer on site)
over a year ago
|
It's not like 2008 (yet anyway). Banks are capitalised and will lend. They virtually stopped in 2008 and we all know now the prices were off the charts as was borrowing, both personal and business.
I have heard that there might be a drop off temporarily of about 10% as people wait for it to drop and don't buy, but the demand is still there and new houses are not going up quick enough.
With alleged social distancing on sites, the rate of building won't increase any time soon.
There will be a lot of people who were eligible for a mortgage 3 months ago who might not get one now because they've lost their jobs, so it's a most unusual scenario.
Lee
|
Reply privately, Reply in forum +quote
or View forums list | |
It is definitely a buyers market and you could probably bag yourself a bargain but just remember come august when employers have to pay towards furlough there are going to be alot of redundancies just make sure your job is stable before you do anything |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
In the same boat at the minute, was ready to buy in Feb but waited to see how the market was going. Prices don’t seem to be dropping much from looking online. I’m gonna hang on a few more months  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Hey
Just wondering if anyone has any advice on whether I should buy a house now or hang on a while ?
Thanks
"
But a new one it’s worth it long term with energy rating and 20k back In tax |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
What happened after the financial crash in 2008 ? Prices began to drop but slowly for the 1st year, it took time for reality to kick in. The actual cheapest time to buy was not until 2010 to 2012.
I would expect the same to happen again but no rush on you buying now as prices certainly won't increase over the next few years. |
Reply privately, Reply in forum +quote
or View forums list | |
Building prices will go up 10 - 15% because of social distancing and the cost implications as a result. Projects will take longer to complete because of limited amounts of labour permitted on site at 1 time especially in housing developments and apartments with limited space inside to work and. Projects run on equals costs run on and these costs end up on the price of the house at the end of of all. Demand was there before cover with not enough units coming available or what was coming on the market above peoples mortgage approval. No point waiting, if you can get your foot on the ladder now do it |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
Houses aren’t cheaper,
If you have the money and have a secure job maybe go for it now. I can see banks being very strict in the next year or 2 when the country goes back to some sort of normality.
I have recently bought my first property so would recommend if you are a first time buyer availing of the help to buy scheme it’s like a tax refund to use towards a deposit for your house. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I’d love to avail of the first time buyer scheme but with the minimum price of a new build being 300k upward it’s out of reach for a single buyer. Them there the rebuilding Ireland scheme which I also don’t qualify for 
My only advantage is I have my deposit and a secure job. May start putting in low bids on places I like  |
Reply privately, Reply in forum +quote
or View forums list | |
"I’d love to avail of the first time buyer scheme but with the minimum price of a new build being 300k upward it’s out of reach for a single buyer. Them there the rebuilding Ireland scheme which I also don’t qualify for
My only advantage is I have my deposit and a secure job. May start putting in low bids on places I like "
Rebuilding Ireland was a lifesaver for me, but the restrictions were pretty hefty I have to say.
I would say that it will be a good time to buy over the next few years, but not because it's currently a buyers market. Unless people are in desperate need to sell they have begun to hold on to assets until normalcy returns. There aren't suddenly a huge spike of houses available and unless there is no interest at all I can't imagine people will readily chop 10% off their pre-covid valuations.
I would say the new outlook towards remote work might help a lot though. Many people will be able to begin to look outside of the major cities meaning less need to compete for property there. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I’d love to avail of the first time buyer scheme but with the minimum price of a new build being 300k upward it’s out of reach for a single buyer. Them there the rebuilding Ireland scheme which I also don’t qualify for
My only advantage is I have my deposit and a secure job. May start putting in low bids on places I like "
Yeah I think this is silly. New housing is needed in certain areas....such as quality highrise apartments in Dublin, but I would be very happy to buy an existing building as a first time buyer. But cannot avail of first time buyer grant. Recycle....reuse!! |
Reply privately, Reply in forum +quote
or View forums list | |
L depends on were ur buying
I'm March and April the auctioneer I know sale agreed 26 houses in one month only to give back 17 deposit a next month there is bargains out there but Dublin city seems to be holding value just it's not going above asking price as in the past if I was buying I hold out till jan Brexit hasent impacted yet |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
Re: the market as a whole.
A strange thing is happening with regards to the stock market even. All stocks took a major hit come March. As expected. Now they are all coming back up in price. A lot like.
I dunno. It's a crazy time we live in. |
Reply privately, Reply in forum +quote
or View forums list | |
"It's a buyer's market atm. If you see a place you like that's within your budget I would go for it. "
----------------
Good advice 
I was lucky enough to get a place before when property prices were dropping & banks were lending, so it's a question of luck and timing.  Have a chat with a parent or relative who's seen it all before because you'll get a lot of conflicting opinions out of some here telling you to go invest in shares or something
Anyway, best of luck with it Op, you'll get there! |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Hey
Just wondering if anyone has any advice on whether I should buy a house now or hang on a while ?
Thanks
"
go low, stay low and be ready to walk away if needed.
target rich environment |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
Still off the roof... Very old houses with poor quality for its price, while new ones are being built and people from old houses moving to new ones with better energy rating... While selling of houses... Just like an old car, but over priced(ow housing inflation ROI, blah blah blah)... I am personally waiting another four years, the more on down payment the better... Doing business for now.... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
The question you should be asking is: Am I buying a home or buying for investment? If you are buying a home then buy now. If you are buying for investment then you should not be buying ever! |
Reply privately, Reply in forum +quote
or View forums list | |
"The question you should be asking is: Am I buying a home or buying for investment? If you are buying a home then buy now. If you are buying for investment then you should not be buying ever! "
Is it not better to buy a home 20 to 50% cheaper come January too? |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I bought my place in 2014. Market was pretty much rock bottom in the countryside. So my advice is to look outside your current area. Maybe 20 or 30 miles. You will be surprised whats on the market. Ohh and dont mind the price they are asking for either, lowball them. It works every now and then.PM me if you need any advice OP. Been flipping houses here and in UK for many years. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
No, prices won't fall in January, it will be way after that... There are houses empty to rent for the past six months(costing your eyes balls), and still for the same price, and your right hand as a deposit... Freaking disgusting the greed within some dudes. They could have someone living there for half of the price without lossing six months of their mortgage... Better some £€$… then nothing... Warren Buffet makes 6 to 20% a year... Some amateurs want to make 200% in on month and ridding BMWs...lol...lol... pure hypocrisy...
Then comes a bigger recession and they all sell the houses desperately, because they can't afford to pay the mortgage, get depressed and lose their families as many did in many different countries... The Lesson will never be learnt... The is no feelings on the market of any kind.
Just watch, it's fun to see what is going on,I have been watching for the past 10 months..lol...
15 more months to 2 years you will find some good deals when the greedy can't afford holding the empty houses anymore... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ab2Man
over a year ago
Manchester/Dublin |
Everyone expects the residential property market to drop considerably the drops of 10% to 20% wont happen due in the most part to lack of stock on the market (fewer houses for sale) this will underpin values so single digit price drops 5% or so might be the norm for a very short period of time while the market cranks up there is still a strong demand for houses so my advice is buy now. |
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
