Buy or Rent?

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Isn’t the syllabus the same outside Dublin 6? I don’t see why a particular school area should be limiting your options so greatly.

My impression is that OPs kids already attend a school which is in D6 and I presume they don’t want to move schools, which is very understandable.

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We have just recently bought. We were lucky but I have to say things are crazy out there at the moment, at every level. We would have been at the top end of the market and even there it was jammed packed with cash buyers. House prices in Dublin 6 have risen I think about 20-30% in the last couple of years . I do think there will be a double dip if repossessions take hold but I don’t think it will last long, We have a booming population and there is more money out there than houses at the moment
if your budget it 600K you are really looking at Harolds Cross or a estate 3 bed semi in any other part of D6. If you are looking at a period house I can’t see you getting anything else except a complete fixer upper with no garden at that budget at the moment.
Forget asking prices, as far as I can tell they are all been exceeded by huge amounts

What he/she said. Word by word.

Bunkum. I can’t post a link to a search result on myhome.ie from my smart phone, but seriously there are numerous houses in The Three Rs (Ranelagh, Rathgar, Rathmines) between €500k to €600k. Just do a search right now

The OP said he would love more space and a decent garden. Without knowing exactly what ‘more space’ means, how many of those houses between 500k and 600k have a fair bit of space and a decent garden? And if you do find one with a fair bit of space and a decent garden you are likely to be overbid left right and centre

I think the key to buying in the current market is to lower your expectations as much as possible

We are in a debt / deflationary spiral. This talk is madness. invest you money abroad and rent.

9 according to my search-fu, with a min of 3 beds.

myhome.ie/residential/result … sort=score

A smattering of mews and money pits, and they’re asking prices.

I’m on my smart phone so it’s difficult to post links but Portobello is a nice family friendly area and some of the houses have decent gardens. It’s close to town and close to the schools in D6

The other slightly further away is Blackpits or any where off the SCR. There is one former Creche for sale there. Fine house with a south facing garden can’t remember the asking.

As for the market, anecdotally there has been a significant cooling lately.

If you are still living in the ‘sold’ house, then face the fact that you will be renting for a spell anyway. There is no way a sale of another house would go through just in time for you to leave your existing house. Another thing about house sales, don’t count your chickens until you actually have signed contracts. It’s not sold until it’s sold.
Get a nice rental in the area you want to live in, with a decent garden. Yes it’ll cost you a fortune but at least you’ll be happy while you are looking for something else, instead of having to step over boxes in the hall for a year.

I don’t know about a definite cooling off terra Incognita. thought the same when I saw houses listed for months at a time only to realise it was just protracted bidding wars
I think some houses (large with no/tiny garden) are having trouble selling but everything else seems to be flying. Practically everyone I know is looking to buy. These are all people who have fairly good houses in decent areas but are now looking to step up to houses that pre recession would never have been close to being in reach
None thought about buying prior to the last couple of years.
Nintynine I think if you can find a forever house within budget I would buy now, anything else I would keep renting and saving and wait until the next crash.

Many thanks All. Lots to think about!

I completely agree with this. We bought recently. With savings and the equity from a previous house which sold well at the very end of 2012, we had 90% of a house in Dublin 6 in cash. We kept some as savings and borrowed about one third of the purchase price. We had to pay over the asking and based on recent sales in the area we are relieved to be in a good size house and out of the market for good. We were outbid a few times and it became obvious to us that if people weren’t cash buyers, they had a good 50% of the price in cash.

As a result, we came to the view that even though prices were spiraling upwards, it’s no longer driven by a credit bubble and is therefore sustainable. There were typically three bidders for each house.

I agree that for €600 you would need to look at D14, D6W, or D8, though I think Portobello, some of Churchtown and some of Terenure would be out of reach.

20-30% price rises are hardly sustainable year on year, cash buyers or not!

No but I don’t think those prices rises are going to be wiped out either anytime soon. So they may not rise that much more in the coming months but people are still paying a hell of a lot more for houses then they would of 2011/early 2012 and I can’t see that changing anytime soon

Moss, out of interest, do you see this almost frenzied demand for certain types of houses in certain types of areas, for instance, period red-bricks in Dublin 6? Do you think this will eventually mean the rest of us bidding half a million for ex-council houses in Dublin 14 again?
I just can’t see many of my ilk, mid-thirties, getting themselves’ caught up in this again, it’s almost seen as being pig ignorant, willing to lay it all on the line for the dream house. We would be a lot more cautious in terms of going in over our heads and aren’t as property obsessed as the older generations.
I can only imagine this is being driven by the grey(ish) brigade living in knocklyon or Rathfarnham who’ve looked longingly on Rathgar/Ranelagh for years and after inheriting a considerable sum or selling 2004-2006, they’re ready to jump.

Either way, it’s kind of crazy from my perspective. Are you new buyers not worried about the arrears crises, NAMA/Repo’d stock coming onto the market, increased interest rates or harsh upcoming budgets? Surely for the vast majority of us, these are concerns, how many cash buyers can there be!

I don’t know really. it is definitely not being fuelled by older people if viewings are anything to go by. I would say it is 30/40 something’s either looking to trade up or to get on the market for the first time many of whom would not have been burnt previously
Also there is so much talk of house price rises that people what to jump for fear they will miss the boat. It’s like everyone got off the fence at the same time.
For us we bought in 2007 very badly but we sold well and were determined not to make the same mistake again. You do get sucked in though to some kind of property vortex where all reason goes out the window once you see a house you like. Luckily my other half has more sense
We did do well but to be honest I think it was down to timing and luck more than anything else

I think this really shows where we are lisney.com/Residential/Malak … lin-6.aspx
Bidding on this is currently over 1.35. the house next door which is a far superior version of it, completely renovated and without the awful people dash when for 1.275 in 2012
I think it would take at least 300K to make 185 anywhere near as nice and I have seen both.

it is a sellers market currently , whether it stays that way remains to be seen. I wouldn’t bet on repossessions though, I cannot see any government having the balls to go through with it at any significant scale