Offer Accepted-Next Step? Reduce the Offer? Rent? Delay for a few years?

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Re: Offer Accepted-Next Step?

he's decided to buy a house. You're an anonymous punter giving projections on a website, your really not giving the person much credit. you'd need to have your head buried for the last year not to know that things are volatile at the moment
 
Re: Offer Accepted-Next Step?

Flax said:
I think we are being kind. We are giving up some of our time to educate the OP that his decision to buy now does not make financial sense.

It's pretty clear he doesn't care (he's only interested in opinions which back up his own), and has no interest in our warnings, so indeed, we are wasting our time.
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You ( and possibly Television) are missing the point. The OP is a homemaker not a speculator.

kopkidda said:
We are buying a place which is perfect for us both and plan to live in it for a very long time,that will do for me.
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Re: Offer Accepted-Next Step?

MrMan said:
So a house costing €250,000 today will sell for €150,000 next year jeez it is mad to buy now when you can buy a house for the cost of a site. .
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That is exactly what I am implying. Lets just see shall we.
 
Re: Offer Accepted-Next Step?

Welfarite said:
You ( and possibly Television) are missing the point. The OP is a homemaker not a speculator.
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I am also a homemaker in the sence that I am actively looking for a property now for my family, but I entend to wait look at the market and buy in 8 to ten months. I am very confident prices have no where to go but down. Remember just because you are looking for a home does not mean you are looking to be ripped off in the process.
 
Re: Offer Accepted-Next Step?

DerKaiser said:
he's decided to buy a house. You're an anonymous punter giving projections on a website, your really not giving the person much credit. you'd need to have your head buried for the last year not to know that things are volatile at the moment
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Maybe it would be a good idea for the OP to give a % difference between the asking price and what he actually paid. maybe we are not giving him credit.
 
Re: Offer Accepted-Next Step?

television said:
Remember just because you are looking for a home does not mean you are looking to be ripped off in the process.
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I don't know why people can't understand this.

We're not just talking about a few quid; we're talking about 10's of thousands (over the lifetime of the mortgage), possibly more.

Just because you're spending a lot of money doesn't mean the figures become irrelevant. If anything, you should be even more careful with the money you're spending.
 
Re: Offer Accepted-Next Step?

That is exactly what I am implying. Lets just see shall we.
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i'll mark it in my diary.

I think we are being kind. We are giving up some of our time to educate the OP that his decision to buy now does not make financial sense.
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Why not educate yourself and read the question the OP asked and answer it.
 
Re: Offer Accepted-Next Step?

question
offer accepted next step
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Answer

Withdraw offer in current climate unless you got a significant discount minimum 30% below asking price.

Does this site ban talking about house price reductions/increases?
 
Re: Offer Accepted-Next Step?

MrMan said:
Why not educate yourself and read the question the OP asked and answer it.
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Should every comment on a discussion forum relate exactly to what the OP said in his first post?

Of course not. You are just taking exception because you are an estate agent.
 
Re: Offer Accepted-Next Step?

here's my tuppence worth to add fuel to the fire... ruled by the head - by all means do sums and think of things as an investment etc. However, the reality is most people want somewhere nice to live and this 'wait a few years' thing is really a bit much ... if you already own your house then fine, but I think for those who don't and just want somewhere to live - being ruled by the heart is as valid too - I know people will instantly disagree but life isn't all about money (most seem to think it is). You can live your life by savings and deals and offers and rates but none of it will make you happier

Simply put - if you like the house, like the area and feel that the price you pay TODAY is fair, then why should there be a problem. Yes prices might go down and if you had to sell in 12 or 24 months I'd be worried. But if its your family home for a while then who knows - and as no one is a fortune teller you can only be ruled by what you feel today. As a previous poster said, in a few years or months time, who knows what the credit avail. will be like or if the house you want will be available - so if you have the cash and like the house I say good luck and have a happy home
 
Re: Offer Accepted-Next Step?

I have also just bought a house because it was the best time for me and found AAM very helpful so shocked by the treatment another first time buyer is receiving by some people here - Flax and Television, you are hardly being helpful. To be fair the OP was looking for advice on solicitors and surveys, not the price being paid for the house.
 
Re: Offer Accepted-Next Step?

Im also in the middle of buying a house,which is the perfet house for us. I could wait another 10 months to buy, yes the prices will be down a bit, but it might not be a house that we want.

OP plans to live in this house for a good few years. So he wont be selling.

Its a gamble but its a chance you have to take when its your dream house. My neigbour bought his house for 420 last year, Im getting mine for 305, none of us know what way things are going to plan out. The prices could be up again, everyone last year thought they where going to keep going up but look what happened.
 
Re: Offer Accepted-Next Step?

daddycool said:
here's my tuppence worth to add fuel to the fire... ruled by the head - by all means do sums and think of things as an investment etc. However, the reality is most people want somewhere nice to live and this 'wait a few years' thing is really a bit much ... if you already own your house then fine, but I think for those who don't and just want somewhere to live - being ruled by the heart is as valid too - I know people will instantly disagree but life isn't all about money (most seem to think it is). You can live your life by savings and deals and offers and rates but none of it will make you happier

Simply put - if you like the house, like the area and feel that the price you pay TODAY is fair, then why should there be a problem. Yes prices might go down and if you had to sell in 12 or 24 months I'd be worried. But if its your family home for a while then who knows - and as no one is a fortune teller you can only be ruled by what you feel today. As a previous poster said, in a few years or months time, who knows what the credit avail. will be like or if the house you want will be available - so if you have the cash and like the house I say good luck and have a happy home
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Under any circumstances it is not daddycool to spend a massive wad load of your families cash that will effect the rest of your families life over emotional sentiment. wait a year buy your dream house and get it for 50grand cheaper. Sentimental and more important sensible.
 
Re: Offer Accepted-Next Step?

Flax said:
I don't know why people can't understand this.

We're not just talking about a few quid; we're talking about 10's of thousands (over the lifetime of the mortgage), possibly more.

Just because you're spending a lot of money doesn't mean the figures become irrelevant. If anything, you should be even more careful with the money you're spending.
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Nobody is saying the figures aren't relevant. But theya re not he be-all and end-all of making this decision. The price one is willing to pay will be based on loads of factors such as location, transport, schools, etc.. If the price was all that mattered, to ensure we're not "ripped off", we'd all be living in Donegal where houses are available already under 150k!
 
Re: Offer Accepted-Next Step?

I think there are also sometimes people giving advice here who are investors who have rental property, so it's in their interest to be telling people to keep renting and not buy.
 
Re: Offer Accepted-Next Step?

This is a forum primarily aimed at financial issues, hence the "it does not make financial sense" replies.

I guess the difference between the majority here and television and myself is that we don't let our heart overrule our head.

To me, buying a house is an extremely large financial decision and in my opinion it does not make sense to let emotion make the decisions.
 
Re: Offer Accepted-Next Step?

Welfarite said:
Nobody is saying the figures aren't relevant. But theya re not he be-all and end-all of making this decision. The price one is willing to pay will be based on loads of factors such as location, transport, schools, etc.. If the price was all that mattered, to ensure we're not "ripped off", we'd all be living in Donegal where houses are available already under 150k!
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One is assuming that those factors have already been taken into account. This sentimental stuff of dream house complete rubbish. There will always be more than one dream house out there
 
Re: Offer Accepted-Next Step?

television, to express what you should pay for a house as a simple percentage of asking price is nonsense. As MrMan (the estate agent as far as I know) has pointed out asking prices can vary widely on similar houses. I have no doubt you will be right at some point in the futureand the OP would be financially better off waiting till that point. But when is that point? Should everyone hold out till 30th June next year and then re-join the market en masse? Basically you are on your high horse over an issue of timing the market
 
Re: Offer Accepted-Next Step?

sadie said:
I think there are also sometimes people giving advice here who are investors who have rental property, so it's in their interest to be telling people to keep renting and not buy.
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Sadie I rent a property, I promise you I could not care less of everyone on here buys all the houses in Ireland. I am telling it as I see it. Its so plainly obvious it makes me laugh that anyone would buy a home in these market conditions.
 
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