to buy or not to buy that is...

L

lemrac

Registered User
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124
Hi,

have just agreed a price on a house in Wexford and am due to send the booking deposit [euro 12,000] The house is to all intents and purposes new having been bought six months ago by a lady who never moved in. She paid 410,000 and agreed a price of 375,000 with me. It's a great house but looking at all the gloom and doom on AAM, press etc about continuing house price drops am I foolish to buy at the present time?

any advice would be appreciated

L
 
sounds like a bargain to me. If you love the house go for it. This will be your home!!
 
All markets go up and down! If you want the house and intend living in it for at least a few years you will see the market ris and fall and still have the house you like. As long as you are not paying out too much on the mortgage why not?
 
Why is the lady who bought it willing to sell at a loss of €35k? Have any others in the area been sold recently and if so what did they make?
 
NHG said:
Why is the lady who bought it willing to sell at a loss of €35k? Have any others in the area been sold recently and if so what did they make?
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How do you know she is making a loss? Perhaps she sold a smaller house for €300K which she originally paid €150K for 5 years go?
 
"She paid 410,000 and agreed a price of 375,000 with me."

Why is she selling now? Are you sure she paid 410K for the house ?


Rgds
Billo
 
If you are aware of what might happen and are happy to buy you should buy.

Nationwide residential land prices in Japan dropped an average of 0.7 percent, the 16th straight year of decrease, the survey said. Average residential land prices in the three main cities rose by an average 4.0 percent.
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other houses on the estate are on the market for 412,000. The lady's reasons for selling seem genuine. She bought as a second home then saw somewhere in Spain which suited her needs better.
 
I'd expect to see a house like this below 350k next spring. I guess the question to ask yourself is how would you feel if the prices bottomed out at 250k for places like this over the next few years?

Also, do you expect to live there for 5 years or 25 years?
 
OP dropping 35K because she saw a better house in Spain doesn't make sense to me. The way you put it it's like she's was buying an item of clothing/furniture not a house but maybe it's like that for some (wealthy) people. For examply I see Denis O' B wants to demolish a house that cost him 35 Million and build a new one instead.

Do you think the house is worth 375K, would you mind if it dropped in value over the next year, can you afford it, do you really want it, is it a good location (location, location) and close you where you intend to live for at least 5 years - when you answer these honestly to yourself then you can decide whether or not to buy.
 
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