Buying A House Now

[galwayman]

Hi guys,
With the current ecomic situation in Ireland there seems to be a lot of conflicting theories out there with regards to buying/building houses at the moment.
Some people believe that it's better to hold off for a while while others say that now is the time to buy or build a house.
What does everyone on here think? I have been considering buying or building a house for a while now but am undecided as to what to do really.

On another point - not being particularly au fait with mortgages and the like -  does anyone know what repayments I could expect to be making on a €315,000 mortgage over the various repayment periods (25yrs,30yrs,35yrs)? (I do know that it is difficult to give an accurate figure, I am just looking for an idea of roughly what kind of repayments we'd be talking about)

[gerrykeegan]

 the link should help, I just put the figures youo quoted in

https://www.yourmortgage.ie/YourMortgage/QuickQuoteAction.do?parameter=calcQuickQuote


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QUICK QUOTE   
REPAYMENT OPTIONS 
Loan Amount EUR   
Select your preferred Mortgage Repayment from the interest rate and loan term options below.

Mortgage Product Gross Rate APR over 20 yrs over 25 yrs over 30 yrs
Standard Variable Rate 5.69% 5.8% 2200.78  1970.27  1826.26 
5 Year Fixed 5.99% 5.9% 2254.94  2027.62  1886.55 
10 Year Fixed 6.10% 6.2% 2274.96  2048.84  1908.88 
2 Year Fixed New Business 6.35% 5.8% 2320.82  2097.47  1960.04 
1 Year Disc Tracker (<=80%LTV) 5.05% 5.4% 2087.57  1850.64  1700.62 
1 Year Disc Tracker (>80%LTV) 5.30% 5.6% 2131.41  1896.93  1749.20 
1 Year Disc Variable (<=80%LTV) 4.90% 5.2% 2061.49  1823.15  1671.78 
1 Year Disc Variable (>80%LTV) 4.90% 5.5% 2061.49  1823.15  1671.78 

[bingobus]

Repayments say 6.5% rate, if you can get it:

Monthly 25 yrs 2,126.90
Monthly 30 yrs 1,991.01
Monthly 35yrs  1,903.09

7.5%

Monthly 25 yrs 2,327.82
Monthly 30 yrs 2,202.53
Monthly 35yrs  2,123.86

I would say its a better time to build but as a builder said the other day the labour may be cheaper but the materials are raising the whole time esp steel and the builder may take his time unlike the last few years. Ensure the price is fixed.

I would think its more a case of will banks give a mortgage.

[mannix]

Building now is probably a good idea, loads of construction people scratching at the minute. I have a few people chasing me for a little repair job I called them about.
Materials can be sourced at right money if you take time and shop around.