Author Topic: Buying a house  (Read 37578 times)

Our Nail Loney

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Re: Buying a house
« Reply #30 on: March 09, 2009, 08:37:13 PM »
good time to buy a house, get intrest free if the payments are too much

 i was lucky, won my house on the lotto, free wedding free house oh and won my jeep on a scratch card. this recession is great

Are you being serious MR??

Minder

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Re: Buying a house
« Reply #31 on: March 09, 2009, 08:43:50 PM »
People should not panic too much about missing the boat now, when interest rates go back up, and they will, the amount of repossesions mean buyers will have their pick.
"When it's too tough for them, it's just right for us"

tyronefan

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Re: Buying a house
« Reply #32 on: March 09, 2009, 09:25:21 PM »
meanwhile you keep paying rent which is money down the drain

Interest rates will at some stage go up again but will be some time down the road.

Now seems to be as good a time as any to buy a house as most builders are prepared to do a deal on a house at the minute if sit and talk to them.

Know several people who have bought a house since Christmas and have done deals with the builder



FermGael

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Re: Buying a house
« Reply #33 on: March 09, 2009, 09:33:01 PM »
meanwhile you keep paying rent which is money down the drain



TyroneFan at the moment rent is not money down the drain. I reckon i have saved at least 30000 over the last 5 years by renting.
If i would have bought i would be in huge negative equity.
Patience is the key at the moment. 

I think Minder has the right idea


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tyronefan

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Re: Buying a house
« Reply #34 on: March 09, 2009, 09:37:12 PM »
would also have spend approx 30K on rent over the past 5 years

Minder

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Re: Buying a house
« Reply #35 on: March 09, 2009, 09:44:44 PM »
meanwhile you keep paying rent which is money down the drain

Interest rates will at some stage go up again but will be some time down the road.

Now seems to be as good a time as any to buy a house as most builders are prepared to do a deal on a house at the minute if sit and talk to them.

Know several people who have bought a house since Christmas and have done deals with the builder




I am talking about people that are saving for a deposit, which has to be at least 10%, how can someone buy now if they dont have the deposit ? There will be plenty of opportunities for first time buyers in the next coupe of years if they have a bit of cash behind them.
"When it's too tough for them, it's just right for us"

tyronefan

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Re: Buying a house
« Reply #36 on: March 09, 2009, 09:57:47 PM »
can see your point minder  the deposit is very hard to get together  but if you can get over that part with the price of houses now the mortgage payments are about the same as you would be paying in rent

bailestil

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Re: Buying a house
« Reply #37 on: March 09, 2009, 10:05:57 PM »
But after the last 5 years of 120% mortgages it seems people don't sem to grasp that saving 10% is a sensible thing!

i can't understand how house prices in somewhere like Derry can average over 170,000 when the average wage is probably 12,000
the multiples don't add up.

clarshack

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Re: Buying a house
« Reply #38 on: March 10, 2009, 09:21:03 AM »
But after the last 5 years of 120% mortgages it seems people don't sem to grasp that saving 10% is a sensible thing!

i would agree that deposits are a sensible thing and definitely needed.

in 2003 when we bought our house we had to put down at least a 5% deposit and provide proof of job security etc in order to get a mortgage. plus we could only borrow something like 2.5 times our income as well. it wasnt long after when people were being offered 105% (and more) mortgages etc and borrowing a hell of a lot more than what their incomes were.

i am just glad that we bought when we did. i wouldnt like to be in a lot of other peoples shoes.


bailestil

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Re: Buying a house
« Reply #39 on: June 05, 2009, 12:02:41 AM »
So whats the story these days?

Can't imagine things have improved any despite the best efforts of the newspapers and estate agents to tell us otherwise.

Estate agents are already giving the "don't miss the bottom" line.

its now almost like " there is no bubble" all over again!

bellaghy_lad

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Re: Buying a house
« Reply #40 on: June 05, 2009, 08:22:25 AM »
i dont think the market has bottomed out just yet. some places are moving but its an up and down situation at the min. your best bet would be go in with a low offer. if it doesnt work out sit tight and keep trying.

orangeman

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Re: Buying a house
« Reply #41 on: June 05, 2009, 09:06:14 AM »
Prices inthe North are definitely starting to firm up - the south less so.

Minder

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Re: Buying a house
« Reply #42 on: June 05, 2009, 09:28:20 AM »
Its far too early to talk of a recovery, quite a lot of the data the last few months has been conflicting. You would need to wait for another six months at least to see a trend. While lenders are looking for 20, sometimes 40% deposits coupled with rising unemployment the market will remain slack for a while yet i will see. People seem to think prices just automatically begin to rise, they wont if banks wont give prospective buyers a mortgage.
"When it's too tough for them, it's just right for us"

illdecide

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Re: Buying a house
« Reply #43 on: June 05, 2009, 09:28:46 AM »
Halifax confirmed yesterday that house prices in the UK rose by 2.5% for May...first rise in a long long time so i reckon buy now as it looks like they have bottomed out
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Donagh

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Re: Buying a house
« Reply #44 on: June 05, 2009, 09:29:29 AM »
Prices inthe North are definitely starting to firm up - the south less so.

Just seasonal. Give it until the end of the summer and they'll start dropping again.