Advice needed re inheritance and buying house outright.

[Happymam]

Hi, I'm really grateful to any advice or replies.

I have inherited 79k but this will not be relesed until probate is done so it could be six months. I'm almost 24 and have a baby girl, I work full time but am on maternity leave at the moment. I have been looking at houses in Dublin and had been hoping to get a mortgage but the company I'm working in has been making people redundant so I'm worried about that. However, I have been looking on Daft and it seems there are a few places in Finglas and Balbriggan that I could buy for 75k. Basicly I'm totally clueless about all this sort of thing and would love some advice on what to do, should I wait to buy, I guess I'm just finding it hard to believe that I could actually buy a house out right, mortgage free. I see myself getting stung somewhere along the line.

 

[44brendan]

You will be more likely to get a better response if you amend your title to provide more detail.
From your post I would advise caution in jumping into a purchase until your income position is more certain. Buying a house must now be regarded as a long term commitment and you would need to be satisfied that it will suit your needs for the longer term. Prices may well drop further but thats not an issue that can be discussed on this forum. A spend of this size is always a risk and therefore you will need to assess all potential benefits and downsides before commiting yourself.