I’d only be worried at the moment if I had a mortgage. The worse the next recession is the better for somebody like me albeit I wouldn’t enjoy friends losing jobs etc. You would have to be crazy buying at the moment in my opinion.
That’s an old wives tale. I have two good mates who got mortgages to buy houses within the last three years, one here and one in UK, both lads had transactions with betting companies all over their current accounts and it didn’t stop the banks lending to them, despite both lads barely having enough for the 20% deposits to start with.
And @ciarancareyshurlingarmy is right, any serious gambler doesn’t have betting accounts written on their bank statements, they’ll use an intermediary like PayPal or Skrill anyway.
Not sure about that. There’s a lot of guesswork and luck with it. Yes properties have peaked again but also interest rates are on the floor. Whose to say that waiting two years is correct, yes there might be a chance there’s another crash and houses are €50k cheaper, but not much good to you if interest rates have trebled or quadrupled in meantime.
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Not yet, renting and looking around. Have half a notion to build too. Happy to play the waiting game at moment and maybe see how brexit plays out and if there’s a crash here. But also will move on something if opportunity is right. Market is extremely stagnant in Limerick at moment.
I’ve always felt that the gambling thing didn’t make sense. Surely they’d just look at your overall spend to see if you were a reliable saver? Like, I’d gamble a bit but usually just two or three punts a week and very rarely anymore than a tenner. Fellas spend more on coffee.
I have an online account but I do it through Revolut so not sure if that’s hidden or not.
building costs are increasing at a fairly serious rate over the past year or 2 as well and show no sign of stopping, so self building is getting more and more expensive with each passing year. So unless a crash hits again, then buying probably the cheapest option right now. but like you say, in a stagnant market, not exactly viable either.
if you’re buying a house to live in it for an extended period of time and financing to do it the market is largely irrelevant. Granted unless you get really lucky and buy at the bottom of a downturn you could save yourself some K’s.
Over a 25 year mortgage I’d imagine it evens itself out, with interest rates and that.
At least that’s what I tell myself so I can go to sleep at night because I got absolutely fucking burned in 2008
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Well a fella like me with no family and no real need to buy it would be mental. I guess every bodies situation is different. I would only look at buying a house/mortgage if I was settling down and starting a family. Houses in my area gone through the absolute roof. I’d be surprised with brexit, Chinese economy slowing down and other international factors such as trump being re-elected we aren’t facing into another deep recession. I would hate to be burdened by a mortgage at a young age with so much economic uncertainty around.
If you can build do it. One thing that I got a shock was with all the legal fees and the solicitor does fuck all really.
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I place bets for a friend who is what I’d call a professional gambler. It’s his sole income and survives off it. Has a mortgage etc all being paid for by gambling. The banks had no issue with it at all as it was clear he was making money. From my experiences and asking around about they rarely give a fuck unless it’s money going out and not coming back in.
A number of huge developments to start and also to be granted planning in the coming weeks in Limerick and the surrounding area of the city.
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It is not hidden as if there is a revolut bank account transfer to your current account they will request six months revolut statements. A separate bank account with no transfer visible is the way to go.
Housing estates you mean? Any ideas what areas? They are badly required and should shake up second hand market too.
Friend of mine looking to rent in Cork … very, very slim pickings and what’s there is ridiculously priced… is there any end in sight at all? it’s madness … you cant blame landlords in one way, but it’s also pure greed some of the prices they are asking for.
A huge one in Mungret.
The landlords would quickly lower prices if there wasn’t a demand. You can’t blame lads looking to be paid market prices.
Of course - that’s how the world works … but it’s still greed as well
I still see building as the better option right now as opposed to buying given the shit houses churned out in Celtic Tiger years.
We were renting in Mount Oval until last month. We were paying €1300 for what was essentially a 2 up 2 down house. Landlord is now getting €1500 for it.