Basic questions about mortgages

[California_Swag]

Hello,
I am working my way through the house ladder and I would like to ask some hypothetical questions to you just to get your valuable thoughts on a few issues I am running into.

1 - With the current status of the housing market, is it realistic to expect to buy a 3-bedroom house with 2 bathrooms for max 350k in a city like Cork, Limerick or Galway?

2 - About the length of the mortgage, do you think that it is realistic to pay a mortgage with an 80% LTV in a maximum timeframe of 10 years for a house worth 350k so I would be borrowing 280k?

The above scenario is based on a combined yearly gross salary worth 100k but with about 50k in savings.

 

[Gordon Gekko]

I’ve no clue about prices or values but you’re generally better off borrowing over as long a term as possible to have flexibility and then overpaying in a way that avoids any penalties. Basically saving interest/shortening the term, but on your own terms, not someone else’s.