Should we wait longer?

We are in the very happy position of having sold a Ranelagh redbrick at the peak of the market a couple of years ago. Due to various family things, we have not yet bought again. We are looking in Rathgar, Dartry etc… My husband is keen to buy again but I’m a bit wary…There are some lovely houses available now which we could practically buy for cash and have money left over…should we?

Depends if you think the capitalist system is going to continue to propagate.

Whether Ireland can remain in the Euro, keep being able to borrow it’s way out of sovereign default.

Do you believe in the Eurozone? Are the French and Germans planning on ditching the Euro?

Have you investigated Gold? Beans? Shotguns? Personally, I vote shotguns.

In short, no one can tell you what to fucking do.

Make your own mind up.

Lovely. Thanks.!!

Well, I could start charging for financial advice…

Ok, here you go…

1 - Yes, definitely buy now.

2 - Look at any theory of fundamental valuation out there and you are crazy like stone foxes.

If you can buy for cash and you just want somewhere to live, what’s the problem, get aggressive and bargain down but you won’t see the purchase price again for many a year, all things remaining equal.

You can see that people don’t want to listen to people say, “I’ve got bundles of cash, what should I do”.

If you want to buy, then buy. It’s not the bottom but you’ll get somewhere nice for a better price than the last few years. If you want to hang on for a bit you might get a better deal. Many here will probably hang on for a bit. With unemployment rising and not going to cease for some time in general houses will fall but in your circumstance you appear to be looking for something specific so you may not get exactly what you want but you might save a few quid. The decision is a purely personal one that you and yours have to decide upon. Best of luck with it.

On a slightly different note, welcome to the pin.

You should understand that we get these sort of questions all the time, and to be fair people are getting sick of answering them. However, the short answer is that like everything, it depends on your personal circumstances which we know little about. All we can comment on is the market, and as you’ve no doubt deciphered since you’re on this website, it is only going one way.

So, the question reverts back to yourself. Do you want to negotiate hard, possibly secure a discount on a property in this area and buy now, or wait and let market forces do the negotiating for you whereupon you can buy a property at a cheaper price? Shotguns with the property purely optional.

swiss… Good post.

FB2? Eh?

I don’t care in the slightest who has the cash, I wish the OP well but she’s more than capable of making decisions for herself and her partner, I’ve no difficulty with people coming on in a genuine dilemma and asking advice…

This is palpably different in my opinion.

We can buy for cash, great.

Wait, save yourself some cash or don’t.

It’s up to you.

So why change it? I have to agree with the previous posters on similar threads. Giving so few details about yourself, and expecting good advice is dangerous, even lethal. You could find yourself buying gold and baked beans and living on Tuskar Rock.

There are a lot of horror stories about people losing jobs, being forced to live apart from their wife and kids etc, so around here, folks don’t take too kindly to “I have a lot of cash” posters

If you bank with Ulster, they are currently conducting free reviews of financial health. So is Hibernian. There are probably loads others. It is not independent, but it is more likely to give you the advice you need.

Well, after the first response the OP is unlikely to come back to give more detail now. Totally uncalled for.

that’s a lot of cash you’ve got. facetiously, if i had that much and wanted to buy property i’d buy a block of price slashed appartments and put a hotel babylon sign on top…
seriously, the market’s slow so you’ll be stuck with what you buy for about 10 years i’d say. you better like it. good luck.

If i had cash now and all i wanted was a home, a place where I ll live, then I would buy right now. Will the price drop further? Of course, but inflation is lurking behind one of the corners and sitting with a pile that could turn in Zimbabvean $ soon is not a nice prospect.

Inflation? Surely you mean deflation. That is unless the EU initiates Quantitative Easing which is actually a mechanism for avoiding deflation as far as I can see. Assets are already wildly overpriced there is no scope for inflation.

Sorry but I think I’m with TUG on this one. You have enough cash to buy what you want but you’re not sure if you should make the move - why exactly?

In my mind there is only one reason - because you are like so many other Irish people who cannot help themselves being greedy and only look to see what return they can get from their impending property purchase.

If that is the case then it’s not exactly rocket science - the market will keep falling so clearly you should not purchase.

However, if I’ve read this all wrong and you are simply looking for a family home and you are in the lucky position to be able to do this with no mortgage then there is no reason you shouldn’t purchase now.

I’m confused about why wanting the best value for money is considered a bad thing. Good going to the OP for engaging the brain and not just rushing out and buying a 3 bed semi somewhere dull.

There’s another aspect to all this - properties currently outside your reach may well fall into your price bracket. I’d suggest that you sit around and see what comes on the market. There’s currently no rush at all and you’re in the perfect position for the classic “quick sale”.

I think the OP knows that waiting is the right thing to do and is just looking for some reassurance.

You’ll sold well so wait a year and reap the benefits. Well done on selling when you did.

There won’t be hyper-inflation, we’ve already begun deflation.

+1 Who moderates the moderators…

If people are sick of the question - don’t answer!!

Next please .

I find that logic incorrect - a lot of people use it, normally VIs but I’ve seen it used here from time to time. Wanting to buy a family home and being able to do so with or without a mortgage does not dictate the timing of the purchase. If the OP can save 100K by buying in 2011, then why should they buy now? If you need to buy a family home, then that is different - need dictates timing. However, everyone needs shelter, but nobody ever needs to buy a home, it’s always want. So timing is always variable - all purchasers are entitle and should be encouraged to find the best price within their own tolerance time window.

My advice. Don’t buy until Summer 20011 at the earliest. Given that a lot of countries have gone through busts, it’s normally around 5 years before bottom is hit.

If anyone has an issue with a post, use the report button, it looks like this: and is at the bottom of every post.

Now, back on topic. This topic is not for discussion of moderation.

I would say it really depends on how badly you want to buy that family home.

This is true - again, it comes back to how much you want that family home. Personally, if I found the right place at what I perveive to the the right price for me then I would buy regardless of the current market.