Will you or I ever buy a house?

I spotted this post in another thread (viewtopic.php?f=23&t=37991) and it got me thinking:

This sounds just like how I think when I walk away from a viewing - I always find something wrong. If I like the house, I don’t like the neighbouring one, or the ones across the road, or a couple of roofs I can see from the back bedroom. If it’s not that, then it’s a tree next door that might overshadow part of the back garden. Or the front one.

And that’s what I’m like if I *like *the house - which most of the time I don’t. So I have to realise that No House Is Perfect. And at the rate that houses of my preferred type in my preferred areas are coming on to the market, we’ll be back at pre-bust prices by the time I actually find the ‘right’ one - which will in all likelihood involve its own compromises and not be a million miles off several of those I’ve seen over the past two years.

Just reflecting. Can anyone else identify with this?

Just had a conversation with a colleague, who also has not bought. We are on the high side of mid 30’s. She is starting to want to buy, and is convincing herself that there is value in the market. She feels she cannot wait to two years or so to the bottom. All the graphs showing that holding on for a bit longer makers her savings grow at a slow rate, but the house price drop at a much faster rate, means that an LTV of 40-50% is more possible, or go for a higher priced house.
During the conversation, I came to the conclusion that if the rental market rules did change to the European model of white box at a fixed rate for a longer period, I might not ever buy. Finding it hard to come to a decision on either side because they both have pros and cons …

I feel similarly. I think I know what I want, I find something that seems to tick all the boxes, then an inner voice says “but it doesn’t have this, or… etc”. And I don’t buy it. Ive been looking for 4 years now.

I wonder whether its not about the house at all, but rather our unconscious telling us just to wait. For now Ill stick with trusting my instinct - it certainly served me a lot better than Bertie, Brian and the boys.

Would you have bought the 500K house if it were 150K? Or would the house next door still annoy you?

i agree 100% … i think this correction has turned off a whole generation from the whole get on the ladder scheme. I have become really really fussy now.

I think we have reached the stage where it will be impossible for us to trade up. My wife and I are so fussy that it looks like a house will never come on the market that matches both our expectations. The only option seems to be to knock our current 2 bed cottage and rebuild…

Totally agree - have been looking for 3+ years (and thrilled to be still renting). Finding that EVERY house has some problem and that value for the money is still very elusive in the Irish market! Property values are still out of line with reality!

I am the same. I think that the big problem with the properties here is the is their quality. We have been renting for 6 years now and with 2 kids in an apt we will have to move on at some stage. Our apt is in great area, clean, very very warm, beautifully furnished, cheap and costs us 1100. Have been lurking and there is no way we can get same quality in a house for not a mind boggling mortgage rate. Thinking to rent a house, but there is not a great supply of a good quality ones at affordable prices.
The two taps in bathrooms, lack of insulation, tiny bedrooms and narrow corridors and stairs drive me nuts!
Come to the conclusion that I would love to buy a site and build my own.
Anyway, prices still have way to go IMO. Just thought that the new generation of buyers enter the market without hefty deposits earned during tiger years. People are emigrating in droves and unemployment is growing. New jobs created are jobs on new salaries. Even though both of us have relatively good jobs, we consider emigration too.
I always trust my gut feeling and when i see the house i want, i will know it!

Yes. I would like to buy a house now, but I figure in maybe 2 years prices will be lower and I’ll have more savings so I should wait. I am not really looking but am following daft myhome and the pin out of interest!!
I agree no house is perfect, but I am hoping the houses I like now but cannot realistically afford will come into my price range soon!! I think when I seriously look I will draw up a list of deal breakers versus things you want, but can do without. For example, no back garden is a deal breaker for me- no matter how perfect the house is in other ways. I won’t get my “perfect” house because I don’t have the money, and want to get a very conservative mortgage, but I do think there are certain things you can overlook, learn to live with, or completely change when you have the funds.

so, will the pin capitulate before the sellers?
starting to seem that way :slight_smile:

not many come back to tell they’ve bought, i think they just slink away quetly.
any trending available on number of active posters vs house prices (trended by length of membership perhaps)

This thread has got me thinking about the stock of houses in Ireland and how it affects my outlook in Ireland.

Crucially whether or not I would be better moving to a country where the take home wage there would provide me with a far better house, vs my current take home wage and what I am/will be in position to be here.

I’d be more worried about the over-all quality of life your take home pay will get you in a country. The house is only part of that. Health care, education, job prospects etc.

That’s a great help to me in not buying a house right now. I want to be able to leave if things get much worse - assuming there’s anyway to go to :slight_smile:

I just ignore houses, and take a look at the ‘value out there’ thread every month or two. If you leave it months between checking there is real and noticable progress. If you look all the time it’s imperceptible! Even going back 2 years on that thread, it’s impressive how much things have moved on. Pity the country itself is falling apart even more quickly :slight_smile:

I think I am still a bit old school - thinking I need my own house to start a family etc. but I do think if prices continue to fall long term it will be a much better decision for me personally to buy than rent for years. Also, I would love doing up my own place and not dealing with landlords!!

I tend to agree, but the draw towards home ownership is still strong in Ireland, but it seems not at any cost. The earlier poster who said the crash has wiped out a generation of homeowners may well be right, but where does that put us. I’m in my 30’s but I’m not sure I want to be in my 50’s and renting into my retirement. I’m guessing I would feel very vulnerable.

I’ve been reading the Pin for over 3 years and have saved a fortune by holding off on buying - thanks Pinsters! I still lurk every day as I find the information / opinions / analysis here infinitely more reliable than in mainstream media or conversation.

I’ve recently bought a house even though I know prices will fall further. For me, there were other considerations besides financial spurring me to make the leap.

Over the past few years, I had viewed many houses and, like others here, I always found a reason not to buy.

Having decided it was time to bite the bullet, I now have a house that needs work and from which, 12 months ago, I would have shied away - ostensibly for that reason. However, having made the mental committment to buy, other issues with the house became surmountable.

I think when you feel in your gut it’s the right move for you, other blocks - real or perceived - fall away or at least don’t remain deal-breakers.

having being a pin follower for years, 2 years ago I bought old house, at 45% (about) of top price. had looked at lots of houses, but was always waiting for the price drop to happen. House went for 210,000 at top of market, I offered 90,000 then 95k and said thats it, I’m off if its not accepted. Spent 40k transforming old house into well insulated, modern, fit for purpose house that I love.

I had despaired of ever finding the ‘perfect’ house, but walked into this one and just knew it. Gave the first offer straight away, and left it for a month. Made second offer and was very definite about walking away if that was not accepted, and I would have. While money is a struggle at the moment, the mortgage and small credit union loan are just about manageable. Very happy to be out of renting situation, though always had great landlords and lovely places to live.

When the time, money and house is right, you will know.

+1 to that, and the second comment being the reason i’ll stick around after i eventually buy.

Buying is a long way off yet tho, have recently convinced the OH to rent a house once our lease in the apt. we are in until Feb is up. So cant see myself getting involved for at least 16months.

I definitely don’t think I’m too fussy to buy any house. Quite the opposite – I’m quite relaxed. When I decided Dublin had become permanently too expensive I just changed my aspirations and moved to the country, which I now adore. I have a grand piano that I’d deplore giving up to move back to Dublin. I have dark skies which fulfull a lifelong love of astronomy. I also have a wedge in the bank which could easily now move me back to Dublin mortgage free, even without selling the country residence. But fuck that – I’m not spending it on some tosser’s asking price who forced me out of the capital in the first place. I’m happy, and I’m waiting. If I feel like moving, I’ll do it when me and the market are good and ready. If not, so be it.

I know exactly how you all feel. I have been looking for a house for 3 years. We are both delighted to have waited given the way the market has gone. However the supply of good family homes seems to be dwindling more each day. If any pinsters have a good family home in Maynooth or Castleknock with a decent sized back garden that you want to sell please get in touch as we would be very interested. Yes house prices are falling but our family is growing!

I’m similar to some of the other pinsters - hoping to in another 18-24 months for the main reasons that house prices are still dropping and the longer I wait the more of a deposit and savings i have… in saying that I find I am quite fussy but not overly!

I have an area I’m quite set on and the house has to have a garden and more than one bathroom… sometimes looking on myhome and daft I think… Is that too much to ask!?