first time buyer,offer accepted in castleview, swords

Hi
we are first time buyers and put an offer on semi-d house in castleview, swords, and the offer was accepted. just want to know, before handing deposit, if we would have enough time to close the deal before Christmas to obtain MIR.

we were also worried about the location, when we went for viewing the estate looked very scattered with lot of houses, but looked clean and well maintained.
Its little far from the main town, but couldn’t figure out what type of area is it?

would like to know, if any of my friends here on board, are aware of the locality and what sort of community is it like in that part of swords?

Looking forward for some valuable information and appreciate if someone here can share their thoughts

Thanking you
Pranal
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Whooa you are about to buy what presumably is your home for the next 10 to 20 years and you are asking a load of unknown people what the location is like or what type the area is. You also think that the estate looked very scattered with lots of houses. I dont know the area at all but surely you would be better waiting to do some full research before even making an offer.You could get a house for what appears to be a bargain but if its location and surroundings are wrong you will regret it for many years to come, The MIR whilst it may be important is nothing compared to you being comfortable in your surroundings and I would think that you can only be comfortable if you KNOW what the area is like
I genuinely hope that this works out for you and other posters who know the area salve your worries.

Hi Pranal

I spent a few years in castleview before moving to the opposite end of town

you’re correct on the distance from the main town centre, it’s a 20 min walk and a good half hour from the pavilions

the area itself has fallen someway from the peak in 06-07, with a lot of the businesses based in applewood having shut down since then

traffic out of the estate in the morning was a painful experience, long queues, etc. and schools in the area mean there are plenty of pedestrians to watch out for too.

it’s really not an area I’d recommend, plenty of alternatives nearby

More importantly, check out the mortgage interest relief threads to see if the MIR is really worth that much to you
It sounds like you haven’t had time to sufficiently research the area and MIR is rushing your decision to purchase.

Is saving a few grand on a relief scheme that may well be extended really going to sway the biggest financial decision you’ll ever make?

Please,

Take 5 deep breaths. If this place is where you have always been dreaming of living and bringing up kids go for it. If you always imagined this is the place you would like to settle down and it is ideal in most aspects of where you see your future, go for it. There is a good chance things will work out before the end of the year if the seller has his house in order.

IF NOT you are one of a large number of MIR chasers who will regret this purchase as much as so many who brought over the last 6 or 7 years . Why in the last 6 weeks of MIR are you so anxious to buy? If you are in anyway uncertain about the location as you state, it only shows that you are doing this on a whim. So Don’t. Wait till next year and get a fresh prospective on things. MIR going, property tax and the potential tax kick in the arse we will all get in the budget will stop any alleged jump in house prices going forward.

I think it very unlikely that any sale agreed today or Monday would close before the end of the year. So if nothing else don’t allow this artificial deadline affect your decision making when you probably wouldn’t benefit from it anyway.

It may be worthwhile to take a car and drive into the estate early in the morning at about 6:00am or so and also early in the evening at about 5:00pm and just parking up and observing what is happening.

Do guards visit the area?

Do youths congregate and cause trouble?

Are there people there playing loud music on the street?

Observation, taking notes, will indicate some aspects of what goes on.

You could also cold call to a number of (potential) neighbours and ask them about what goes on.

If you haven’t signed anything as yet then I might go back to the agent/seller and make apologies that the MIR now being doubtful means that you have to pull back.

My god panic, all for a few grand MIR, which is probably factored into the price anyway.

This is the most important decision in your life and you know next to nothing about it by the sounds of it

thank you all for the responses,

Most of the responses are negative about me rushing for MIR,

let me explain my situation, I am opening a business in swords in february 2013, and would move to swords anyway. I am currently in a full time job and motgage is approved based on our jobs(both full time). Once i start business there is no way i would get mortgage approved for foreseeable future. that is the reason I am rushing to buy this year before my situation changes.

I clearly understand the risk of taking the mortgage(which is approved and valid until january) and leaving the full-time job.As my partner would be still working we can afford the mortgage payments, until i start making any money

So MIR is not the factor here, but why not? if we can save few grand by closing early.
I am a bit tired of renting and on the fence, since 4 years, and if i miss it this time, it would take few more years to own a house. we would like to move on, rather play waiting

Regards
pranal

Pranal

That’s an awful lot of pressure to be putting on yourself in a short period of time. If it were me, I’d get your business up and running and making money before you look at buying-now I know that means you losing mortgage approval and having to rent longer. You don;t know how your business is going to work out and whether a mortgage will be a commitment too far for you in the near future-get your business sorted-get to know Swords and take a look at buying this time next year!

Problem is the bank don’t know their risk. You mortgage is approved based on two incomes, not one. You are effectively misleading the bank.

Regardless of MIR or your situation - you clearly have a lot more research to do on the area, the estate and the house. This is not be rushed. How stupid will you feel rushing this and regretting it in 2 years time?

I’ll stress again it’s the most important decision in your life.

If you cant get approved just on your wives income, is it really going to be really affordable or will you just get by? Is that how you want to live? What happens if you ve kids or one of you get sick and you’ve medical bills? Or the wife loses the job?

I’d definitely try get the business off the ground unless your very very confident it’s going to be successful.

anyway i think my first 2 paragraphs are the key aspect.

My advice would be to rent in the area you wish to buy - that’s what we are doing. It’s helped us a lot to decide what we really want in terms of area and the house itself.

I know Castleview, via a friend, don’t think it a really 30 year house or estate if you ask me.

Fair enough if you want to move there anyway, but as a lot of people have alluded to, prices often reflect the tax incentives. In the past when Stamp Duty thresholds increased to “help” buyers the prices chased the threshold (upwards) - so not much help :confused:

Ask yourself if the MIR is boosting the price, in the New Year there will be fewer buyers so you might buy it for less. You can always hold off starting your business for a few months.

Best of luck in your move and new business

I am aware that the MIR is boosting the price, and in new year prices would be slashed, but in my case getting mortgage would be tougher as my approval deadline would be finished and unfortunately i cannot delay the business date as the commitments are being done.
I want to sort my house before i get actively involved in the business

Its not ticking a lot of boxes for you,Id say you are kept awake at night wondering if you are making the right decision.

My own personal experience on such matters is simple enough,I listen to the that soft quite inner voice of reason that points out the patently obvious that from time to time I have a blind spot for.

If you have any doubts about it then walk away however I think like many who ask such questions here is that you are looking for affirmation rather that contrary advice that will avalanche your plans as they now stand.

Best of Luck with it though what ever you decide.

I understand that you feel huge pressure as the bank may not approve another mortgage for a few years and that is making you nervous about getting settled into a permanent home with your family. But this pressure is also clouding your judgement, in my opinion.

The housing market is still very unstable. It is possible that there will be further large drops and if you commit yourself to a house in an area that you don’t like after a while, it may be impossible to sell it for many years. This would mean that if you wanted to move, you would have to rent it out and rent with your family in a different part of Swords. Treaty Exile has given you specific information about some advantages he/she found with this estate. Could you look at buying in a different part of Swords? A huge part of being happy in a house, is liking the estate that it is in and finding it convenient for work, school, friendly neighbours, children the same age as yours for them to play with etc.

Good luck with your decision

You are where you are now, but the question has to be asked how you got to this situation? whereby your racing against time and starting a business too. Madness

+1.