To settle or not to settle?

We don´t like small, not for 700k. Also, I like south-west facing cos I am in the house a lot and getting the light and sun in the main living rooms means a lot to me. We could spend less and get a 1500 sq feet semi-d for 500k but one, we do like to have the space and don´t mind paying for it, and two, really, most stuff out there for 500k is very bad value.

D14/16 is right beside family. But again, nothing coming up with a bit of space inside or outside (I mean 2000sq feet, I am not looking for a mansion) is coming up at any reasonable value at all. The house that we´ve found is only 2 miles down the road but on a much busier area so worse for traffic.

Yes 700k is a lot and we should get a lot for it. Unless you´re looking in SCD of course…

We tried bidding some 10 to 15% under for prices between 750k to 800k but it never worked out before. In fact a lot of the stuff went for over the asking.

The house that I linked doesn´t need rewiring, and insulation is ok if you go by the BER. Garden is small alright but even at that is going to achieve over the asking, so go figure…

I know its really difficult when your own specification and available properties and prices don’t match. After 4 years of renting I finally took the plunge (with many misgivings) last Jan. I got location and orientation but sacrificed condition and size. As another poster said these are things that can be changed - location and orientation cannot. I think 2,000 sq ft is very, very big - regardless of your family size. And my experience is that its not the amount of space that matters but the usage of space - so if every room/space is working for you, you could probably cut 30%-40% off that 2,000 sq ft without sacrificing anything other than a number. I know in the US they are obsessed by the actual square footage but in my experience this leads to lots of unused chilly no mans land.

Have to say the Templeogue house you link to just looks like a big lump with badly planned space to me - I know its all a matter of taste :blush:

spoke to EA yesterday on this property and was told its bid to 560 !!!

To add to my earlier post

I increased my commute by around 8 mins by moving a bit further out. You really need to be getting a seriously better house to compromise on commute in my view.

I assume you are factoring schools into your thinking?

We did not stretch ourselves too as much as we might have and feel much better for it already.

Lastly if you really like where you are and are unlikely to be booted out, there’s a lot to be said for staying put. What would you do with your spare time if you bought :wink:

I suppose you could comment on other people’s moves…

Most definitely not. There was a 650 bid on the monday after the first viewing and up to 670 by now.

In my view global inflation is a more likely scenario going forward. I have moved from cash to property. Personal choice.

Property in parts of Dublin has always been expensive. The difference now is that there are lots of lawyers and accountants riding the IFSC gravy train and loads the IT (twitter, linked in, Facebook, google, Microsoft) wave. Those opportunities were not there in the 80s and even then property was expensive.

The sad fact is I can see more jobs in IT than houses in the next few years. Let’s see what Ulsterbank does but if we are not at botttom we are not far off. No one should worry a jot if a 700k home for life is valued at 500k - as long as you can fund it.

I renewed my passport in Jan. 2005 - joined the pin in 2006 - my passport is up for renewal next year. A decade - people are figuring out that you just have to move on. :neutral_face:

Ulsterbank??

2000 square feet is very big you’re limiting the pool of houses and upping the price, do you really need so much space. The house you linked has old style scuring boards and the sockets appear to be in them, that menas 25 to 30 year old wiring, FBD declined us home cover because the house had wiring > 30 years old. Also you probably have too few sockets.

Ulster bank aren’t owned by the Irish Gov so will be harder on arrears and may be first to off load houses, which would drive down prices, but as they are fist to market they’d get the full benfit of prices before they it bottom again.

This week!

After 3 years of seriously looking/viewing/bidding after watching with interest for the previous 4 or 5 years we settled on something this year. We had to compromise. Everyone has to compromise. If you have 300k you want the house that costs 350k. If you have 700k, you want the house that ends up going for 800k.

We sacrificed orientation (though it is offset by the fact that the garden is massive) for location. The condition was more than we wanted to take on, but that’s just the way it goes. We did not get a bargain by any stretch of the imagination either. The next year or two is going to be a pain, as we will be constantly working on the house to get it up to scratch. Every penny will be going towards the many jobs that need doing.

Even with a budget of 700k, you can either choose the smaller house that is in turn key condition, or the bigger house that needs loads of work.

I queried it when told the 560 bid and it was repeated to me as well as both large templeville rd semi d houses being bid to 550.

Dont know why they would bullsh1t a client

I was looking for three years. In 2010, the market was stalling and prices were still too high. There was nothing at all on the market in 2012. In 2011, as a first time househunter in Dublin, I completely underestimated the long term value of family homes in Dublin, and did not realise that I was looking at late 1990’s prices in real terms. I have copped on! Owners of good houses in good locations took them off the market rather than sell them for less than they were worth ten years previously.

You want a 2000 square foot house, which is very large, for 700,000 in very nice suburban area of Dublin with a south west facing garden. It’s not going to happen without a big commute to the city centre. Sorry! Buying a house is a compromise. And I doubt very much that you would flip for 100,000. Unless you’re happy to sell and rent long term, that doesn’t make any sense.

I didn’t start this thread to discuss where the SCD market is heading to, but in any case, it’s a delicate balance between supply and demand. Nobody knows when, how and at what rate will new supply come into the market, the only thing we know for sure is that the amount of transactions in this market is abnormally low and therefore the market is inevitably skewed. There’s several factors that could affect specially the supply end of the market and then all bets are off as to what will happen.

People in Ireland in the top 7% bracket of earners (us included) have no access to houses on the top 20% bracket. Is that sustainable? Maybe… Time will tell for sure.

Less than 10% of all properties in Dublin sold for more than €500k since the start of the year.

People in Ireland in the top 7% bracket of earners (us included) have no access to houses on the top 20% bracket. Is that sustainable? Maybe… Time will tell for sure.

wow what a insular myopic view of society, Ireland and the property market.

how many of the top 7% of earners aspire to living in SCD even…

what do you deem the top 20% bracket ??? €per sq foot ??? what is the criteria…

the wealthiest and highest earners i know have never lived in dublin in their lives…

What percentage of houses in myhome.ie are quoting 500k+ right now? Sorry, I don’t really know how to check that

Well we work in Dublin and to avoid a long commute we need to live in Dublin, plus family and friends are here

Seriously? You don’t understand what happened subsequent to the bursting of the irish property bubble? They got this far. Certainly there is an unknown there in the pressure that outside forces will exert to normalise artificial supply constraints on the market. But the question is will THEY manage to ensure there is always the demand to meet that supply in terms of adequate cash to absorb the supply at price level deemed appropriate. Make no mistake - a large thought and effort and resources is going into namaging these conditions. Make no mistake the market is rigged and it would take something very unusual to upset the apple cart at this stage.

There are 3067 pages if houses for sales and 176 pages of houses asking over 500k, so about 5%

Really? That is not what I had read before.

I stand corrected then.