We must to move to Ireland in a few months (first quarter 2007) and we are looking for a house in Wexford county. We are spaniards so we know “something” about property bubbles
The question is… could be better to rent or to buy?
A big house (we have 3 children).
Very near to sea (health problems).
A bit of heat and sun (we have heared Wexford is the best area for that).
We are scriptwriters and the childen are in a “offical family education program” so we can buy in any place (close to a village/town or at least near to a medical center).
We will live some months on Spain and the rest of the year on Ireland. And we will have to travell from one country to the other occasionally.
We don’t need mortage.
Wich is our best option? (please, we accept advice, ideas, potencial locations…)
Thanks a million for your help.
First off, we’re not really estate agents here or anything like that so I’ll start you with that health warning. What you will find here is some excellent analysis of the current bubble we’re experiencing and decent and real advice about living in Ireland.
One thing to bear in mind is that Ireland is a heck of alot smaller than Spain.
Are you sure you need to live in Wexford?
The West and South of Ireland still represent the best value and if you can move off the east coast, it will definitely be to your advantage!!!
Many people believe the market has peaked and there is even evidence of asking prices for properties droping in certain areas.
I’d personally rent, particularly outside Dublin as rents can be up to half what you would pay on a mortgage.
Hopefully your move to Ireland will be a success whatever you decide to do.
Like Spain, Irish property prices have never been higher. Many on this board (and indeed many people accross the country including leading economists) think that the market is far too hot and that prices will fall.
I don’t know what will happen, but my guess is that there is no way that prices will be higher in 18 months-2 years from now. I think you might get a better deal if you buy then.
But please note I could be 100% wrong and prices could continue to grow. In many ways this is totally new territory for Ireland, so no one really knows.
So my advice would be rent untill you settle in Ireland. Get a feel for the place, find an area you like, and when you really know the country think again then.
Thanks for yours answers.
Well, we spent several months searching the ideal home in Ireland (very dificult taks because we must do it with Internet and phone) and now we think we have a very good option.
It is a big house (more than 300 square meter), with a medium site (1/2 acre) and in a good place (10 minute from Wexford town, very near to Rosslare). The price is around 350.000 euros and maybe we must spend other 15.000 euros to fix some points (new carpets, kitchen, windows…)
Is it really a good purchase?
Now… what must we do? I think we have to contact with a solicitor, but we don’t know the next steps.
Any help would be well received. Thanks.
Have you actually visited the property yet Uisce?
Are you financing at home or in Ireland?
Yes, we visited the propierty and it seems a good house (it needs a few “changes” but anything important). The house has well and septic tank and that is very “strange” for us because in Spain all homes have mains services (well, maybe in the midle of the countryside the properties have got well and septic tank).
We don’t need financing.
The real point is to know how is the propierty buying process in Ireland. We have read something about it but any help/info will be wellcome.
Well once you have the financing sorted that’s largely it.
You’ll need to contact a good solicitor in the area to tie up the formalities and as it’s second hand in the middle of the countryside, a survey by an architect would be advisable, again, if you can get a good solicitor they should be able to tie up the intricacies of the deal for you.
Anybody else got any other advice?