Just heard the news. Not sure how it will affect me to be honest so I'd love to hear people's thoughts.
I'm currently bidding on a property in Dublin City. Around €260k at the moment. As it stands we have decent savings and a decent combined income as well. We could afford a more expensive house to be honest, but this house suits our needs and we like the location etc.
If these new rules were implemented we could still afford to buy this house as we would have over 20% deposit and would get finance on the rest based on our combined income.
My interpretation of the current situation is that many people who are currently in the bidding process or are considering buying will now panic and rush to close before the end of the year.
Am I better off holding off until the rules come in as it might cool the market a bit and the whole bidding process as well. I'm concerned that we could end up paying too much for this house as we do like it and the other bidders might panic and bid over the odds too in order to buy before the end of year.
It's a tough one. I like the house. These houses don't come up too often, as we've been in the market for months now. It would be a shame to wait and see. Is it likely we'll see a panic now, followed by a drop in prices in the new year? Surely somebody has a crystal ball out there?!
I'm currently bidding on a property in Dublin City. Around €260k at the moment. As it stands we have decent savings and a decent combined income as well. We could afford a more expensive house to be honest, but this house suits our needs and we like the location etc.
If these new rules were implemented we could still afford to buy this house as we would have over 20% deposit and would get finance on the rest based on our combined income.
My interpretation of the current situation is that many people who are currently in the bidding process or are considering buying will now panic and rush to close before the end of the year.
Am I better off holding off until the rules come in as it might cool the market a bit and the whole bidding process as well. I'm concerned that we could end up paying too much for this house as we do like it and the other bidders might panic and bid over the odds too in order to buy before the end of year.
It's a tough one. I like the house. These houses don't come up too often, as we've been in the market for months now. It would be a shame to wait and see. Is it likely we'll see a panic now, followed by a drop in prices in the new year? Surely somebody has a crystal ball out there?!