We're FTB- Is this the worst time to buy?

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ice

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We are a family of 4 who have been renting for the last few years.....we are finally in a position to buy a house in Dublin in the area we are currently living. We love the area...its close to town, good schools etc.

House is asking 600K.

Family and friends have been bugging us for years to 'settle down and buy somewhere' and now when we are ready they are saying 'is it the best time?...the market is slowing down' :rolleyes:
Time is not on our side as we are 35 and 33 years old so time is ticking on re mortgage lenghts etc.
It will be a bit of a squeeze for us money wise but its do-able and we don't want to rent forever (although we did consider this combinded with really good pension provisions). We could move further out of Dublin and do the long commute but we'd be miserable so want to stay in the area we are currently in.

What do you think ?
 
Re: We're FTB- Is this the worst time to buy ??

Go for it. As long as you can pay it back then why not.
Why pay someone elses mortgage when you can pay your own!
 
Re: We're FTB- Is this the worst time to buy ??

If you can afford it even if interest rates rise and if you like the house as a long term home (not an investment) then the time is always right.

Sarah

www.rea.ie
 
Re: We're FTB- Is this the worst time to buy ??

If you're buying a house to live in yourself, and can afford the mortgage repayments, then go for it.
IMHO I wouldn't be waiting for markets to rise/fall/stagnate. If I wanted a house to live in and could afford it, even with interest rate increases, then I'd buy it. I'd only worry about the housing market if I was an investor and trying to cover my mortgage etc with rents and guarantee my return.
 
Re: We're FTB- Is this the worst time to buy ??

If you can afford it even if interest rates rise and if you like the house as a long term home (not an investment) then the time is always right.

Sarah
Click to expand...

I don't see how you can say the time is always right. If i told you you'd get a flat screen tv for half the price it is now in 12 months time,it would hardly make financial sense to buy one now.
OP maybe it is right for you to buy now,with regard to family age,etc. but all i'd say is check out [broken link removed] for an alternative view of the market.
 
Speculative threads about property prices are currently not allowed. If the original poster has specific questions about the ins and outs of selling/buying then they can post them in a new thread.
 
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