Hoping to buy in Leixlip next year

My husband I moved back from the UK in September. We are renting in Castleknock (lease is for a year), but for a variety of reasons I don’t think we’ll buy here.
I am working in Blanchardstown, H is still working remotely for his UK company from home.
We have 2 kids, 3.5 and 9 months.

We’re hoping to get approval for a mortgage next summer (I’ll have been in my job 9 months then). We’re probably looking at spending about €300k.
So far, the feedback from family and friends is that Leixlip is a lovely area with good schools. We’ve driven through it nosing at houses recently and it does seem really nice.

Any Leixlip feedback or general advice appreciated. I have been doing my homework regarding mortgages, and I know the main thing is really to prove you can live within your means and manage an interest rate increase of a few hundred euro if interest rates did rise.

Buy wherever your guts tell you it is the right place for you and your family to live. Do not get influenced by other’s people opinions. Each of us has different taste and experience about the same town/area.

Personally, I prefer Maynooth. It has more going on and to me seems like a nice place to live.

By the way, I am not a mortgage expert by any means but would banks lend 300k (less deposit) being in a job for only 9 months? In my experience many contracts have 6-12 probation which means you could not qualify as having a permanent job.

I rang an online mortgage advisor a couple of months ago Galego. My probationary period is 6 months so I’ll be off it by the end of March. He said June is the earliest we could go mortgage hunting, and his main bit of advice, after hearing our financial position, take home pay, savings etc, was to be really careful with money over coming months, as it’s not sufficient to have a decent deposit, and income, that any lender will stress test our finances to verify we could afford an interest rate hike. If we can manage to save a couple of hundred a month, ensure we don’t skate near zero funds in the bank etc, that will be critical. easier said than done given we have creche fees for 2 kids so 2013 will be a tight year for us.

As I said I have no idea how banks assess credit risk in this country when it comes down to lending house-buyers money. They were picky with me and my wife as we both work in the same multinational (for more than 6 years each). They said there was a risk of the company completely shutting down and leaving Ireland. I thought that was a bit extreme but I guess they are the ones lending the money after all so it is always up to them.

About Leixlip. Where about have you been viewing to buy? Have you written off completely Maynooth I personally love the houses in Castlepark.

It’s been more drooling on daft.ie and driving past houses. 461a Green lane is the current favourite. Funny, DH just said to me that he’s heard a lot of positive feedback on Maynooth so I was just nosing at houses there. They do look lovely. Only thing is it looks like (ET and Irish school aside), the two primary schools are single sex. I have a boy and a girl and I’d rather send them to one school, not just for convenience sake, but I do prefer co-ed schools. Probably wouldn’t be a deal breaker though if the schools were good.
We do want somewhere with a decent sized garden. DH has a boat and a caravan. The caravan is currently in storage in the UK but we’d love to have it over here. It’s one thing I’ve noticed from browsing so far, is that a lot of houses seem to have been extended so far that the garden is pretty much wiped out, and what’s left is just decking. I don’t have anything against decking but it’s not what we want or need in a garden.
Thanks for your help. I think in the NY we’ll start viewing. It’s been manic so far with settling in and I don’t want to get too hung up on one particular house just yet as we did that once before years ago and of course it fell through.

461a Green Lane looks lovely. My only objections from the photos would be that some room shapes are ok for kids but not for adults so when your kids get older not sure how it could become a problem.

IMHO, I think that house is overpriced and for that money you can do better in 2013. Then again, a house is all about personal taste so what I may not like you may love.

Anyway, good luck and have fun hunting for a place in 2013. I am also in the same boat than you!! :slight_smile:

Yeah, DH is mad keen on it, but I’d like to see it in the flesh. It’s outside our budget anyway but if the asking price came down by less than 10%, we could do it. My dad thought from looking at the photos it didn’t look good on storage.
Good luck hunting yourself. It’s great to be in a position where hopefully we can start looking for our “forever” home.

Hi amarach, I have a number of friends with kids living in Leixlip and they love the place.

I recently went through the mortgage process and settled with BOI so I might be able to give you an idea of what my problems were. What slowed the process down for me was initially the deposit. Obviously it is 10% plus but I was surprised at what documentation/statements were needed. I had to go back years to show it was mine and my wife’s savings and not a loan. We had moved our savings a number of times so if you did the same it would be worth your while getting this info together sooner rather than later.

As regards affordability of the mortgage I think it was 6% they looked at with us. i.e. in your case 300k - 30k deposit = 270k mortgage which would work out for you at 6% over 30 years €1,618 per month. (25 years was the best offered to me because i’m over 40). They added life assurance, house insurance etc etc on top to show we could cover the mortgage. We don’t have children but I think the figure they told us would be €200 per child per month, in other words in your case you would have to show you can cover €400 over the mortgage and insurance etc. Our bank statements for the previous 6 months were gone through line for line and if we could not show we could easily cover I.e. in your case over €2,100 per month we would not be given the mortgage. Thankfully we were told in advance they would do that so we had our statements showing we could cover a few hundred euro over whatever they threw at us.

I would also go now to find what the bank will actually offer you so you have that in your pocket before you view what might be the house.

Best of luck when you do buy

Thanks mystified. Our deposit is about £38k stg. We had hoped originally to stick with 20 years, as we took out a 25 year mortgage on our old UK property in 2006, but thinking about it, if it means the difference between getting a house we know we will probably be in forever, vs one that’s a compromise, it’s worth it. The creche fees now are the at the highest they will ever be, and by next September they should be down by €300 as DD will be one and DS will get the ECCE year.
I also have shares from my old company that are currently worth about $20k, but I’m trying to hang onto them for a rainy day, and to wait until they appreciate somewhat.

Our house sale only went through in November, but it’s probably worth downloading and saving the statements now.

You should do the math on your shares, the tax you would pay here or in the UK, and then, what difference this would make to your mortgage and monthly living expenses.

I am personally a big fan of borrowing over as long a term as possible. The beauty of this is that you can repay the capital whenever it suits you.
Remember that famous sentence “a dollar today is worth more than a dollar tomorrow." Money in hand today is worth more than money that is expected to be received in the future.

Just my personal opinion in that point.

Hi!

Wherever you chose to live, may I suggest you draw up a ‘shopping list’ of things you want in a neighbourhood. We bought recently, and on our list was:

1- walking distance to schools
2- walking distance to full grocery store (not just a convenience store)
3- walking distance to public transport on rails (buses just joint the queue w/cars)
4- walking distance to park/playground

That narrowed things down quite a bit, and after 2 years of renting in the chosen area, we bought. We are in the house we’ll be in forever, and once the kids are older, like you, the after-school/nursery fees won’t be so onerous.

One thing re. schools: as far as I can tell, coed primary schools are not that common here, so if you feel this is very important, it will certainly narrow your area of choice right down!

Good luck!

Is this thread revenge of the wolies?

so Elka

tell us a few of the area that meet your criteria …which seems quite sensible

1- walking distance to schools
2- walking distance to full grocery store (not just a convenience store)
3- walking distance to public transport on rails (buses just joint the queue w/cars)
4- walking distance to park/playground

so Elka

tell us a few of the area that meet your criteria …which seems quite sensible

1- walking distance to schools
2- walking distance to full grocery store (not just a convenience store)
3- walking distance to public transport on rails (buses just joint the queue w/cars)
4- walking distance to park/playground

I reckon pretty much every area in dublin does, not every house, but some houses within every area.

Sandymount ticked all these boxes, plus the added bonus of a coed primary school.

Of course a tolerable ‘walking distance’ mightn’t be the same for everyone, but for us it was an important criteria.

As for most areas ticking these boxes, I’m afraid I’d disagree. Unless in Dart or Luas, there’s a whole swathe of the city that can’t tick that box. Plus think of all the estates that require a jump in the car to get e.g. a litre of milk, and in a corner shop at that. As for communal playgrounds, undeveloped land doesn’t count in my book.

Ahh I didn’t think of the rail thing. That discounts a lot alright. I don’t think there are any whole areas though where you can’t walk to a supermarket. I live in Lucan and yes huge areas of it you have to drive to schools, shops, playgrounds etc but if you are in the village everything is walking distance.
Sandymount is my ideal location to, it’s where I grew up. I hope to move back there soon. I see the schools as a big disadvantage there though, don’t hold out too much hope of getting my kids into the co ed. We have 7 co ed primary schools in Lucan.

Sorry for going off topic OP :blush:
As regards Leixlip, I have a few friends there and they like it. As regards a co ed school, there is a lovely ET in Celbridge, Kildare East ET, my friends in Leixlip send their son there and he can get the school bus from the bottom of their road so it’s very handy.

Thanks for all the replies and advice, much appreciated.