Is it a Good Time to Buy a House in Ireland ?
There is no simple formula that will answer for everyone when you  should buy a house. You have to consider variables, such as your income and expenses, the mortgage you can get, rental costs, your attitude to risk and your ability to handle stress.
House prices have dropped – and may drop evenfurther – but if you need somewhere to live long term and you need it now then it’s a good time to buy.
There are some  good bargains out there.

See these 5 bedroomed bungalows  over 200 sq metres priced  under €200k –

The emotional drive to have your  own four walls can be  much stronger than playing the waiting game for the bottom of a crash. Paying out rent to a landlord is just paying the landlord’s mortgage and helping them make a profit.

Can you afford it?
It’s a simple question, but one which is sometimes overlooked by many first time buyers. Assess your income and expenses to see what monthly mortgage payments you could afford without too much stress. Look at cutting out some of your non essential spending in order to buy your home. Don’t forget to factor in Mortgage Interest Relief – which is worth about €10k over 7 years to a first time buyer couple on a mortgage of €180k
Be aware that  Mortgage relief (TRS) is due to be removed from first time buyers who purchase after 2012.

House prices have fallen by as much as 50% from the peak  in some parts of Ireland – and they are not expected to drop too much further.
The “average”  house price drop has been made to look worse because of the glut of unwanted apartments and smaller houses in ghost estates where nobody wants to live.

Good quality new and second hand homes in established residential areas have not lost as much value. Large one off rural houses have also kept some of their value.

Affordability :  For first time buyers in employment – houses are much more affordable now than they were 3 or 4 years ago. Mortgage rates are still low – and the ECB rate  looks like it could be coming down again.
Stamp duty has added an extra cost for first time buyers in 2011 of 1% – but non FTBs have seen a massive drop in stamp duty rates.

Trading Up :Homeowners who want to trade up will have seen the value of their property fall – but the prices of bigger houses have fallen by a larger amount . So , as long as they are not in negative equity ,  they will need to find less money now to upgrade than they did  3 or 4 years ago.  

Do you have a deposit?

You can get better mortgage deals if you have a sizeable deposit.  A buyer with an average-sized mortgage and a 10% deposit might pay roughly €3,500 less over three years than a buyer  with a 20%  deposit. However, if you spend 3 years trying to save up a bigger  deposit while paying rent – you could be struggling during those 3 years .

Can you handle an increase in interest rates?

You need to be able to handle interest rate increases. Even if you’re after a fixed-rate mortgage, if it’s just fixed for a couple of years you may then find that interest rates have risen by, say, 1%. Could you handle that extra €100 or €200 per month?

The main thing to remember is that a house is firstly a home to live in – not  an investment . Past data shows that property has been a good long-term investment and buying when you are younger will probably save you more money in the long run compared to a life time of renting. If  more people are renting – there will be a shortage of good rental homes which will push up rents.

Long term renters will have to find the money to pay rent until they die – and will have nothing to show for it . Homeowners will be usually mortgage free and rent free after 25 years or so and will have a property that will be worth something at the end of it.

Negative equity is only a problem when you want to sell the house – so try and get a house that you can see yourself living in for several years. If you plan on moving within a couple of years – then renting may be the best option.

Moving house or apartment can be a  stressful time with so many things to organise . If you are moving house in Ireland there are several places you need to inform of  your change of address.

Re-directing post:

An Post – the Irish Post Office – offers a postal re-direction service, which will ensure that all your post is forwarded to your new address. There is a fee for this service -

Up to 3 months €50.00 ; Up to 6 months €70.00 ; and up to 12 months €100. The charges are more if you are moving outside Ireland.If you use this redirection service -  you will still have to inform all your important contacts of your address change.

Gas and  Electricity

When you move house – Electricity and  Gas accounts  will need to be either closed or transferred into the name of the new owners. If you are moving from rented accommodation, your landlord may request that you transfer these services into their name to avoid having to pay reconnection fees. Make sure you take final meter readings for gas and electricity services just before you leave.

If you are moving into a home that has been previously occupied, ask the previous owners to transfer the utility accounts into your name. Take meter readings for gas and electricity as soon as you take possession of the premises. If utilities need to be connected, contact your electricity service provider (ESB Customer Supply or other) or Bord Gáis in good time to ensure that everything is working by the time you take possession of the premises.   .

Waste collection
Bin Collection accounts  will need to be either closed or transferred into the name of the new owners. If you are moving from rented accommodation, your landlord may request that you transfer these services into their name. Contact your local authority or Bin Collection company to let them know you are leaving and make sure you have paid all the waste charges that are owed on the property. Make sure there are no outstanding waste changes on your new home as you may be liable for them

Telephone Landline

Telephone accounts can be transferred between old and new addresses like electricity and gas accounts. This will save you paying a reconnection fee and means that you’ll have a working phone as soon as you move in. Likewise, if someone is moving into your old home immediately, you can transfer the account into their name.

Television licence

In Ireland, if you have a television you must hold a Television Licence. If you are moving house, you will need to transfer the address on your TV licence. Bring your existing licence to your nearest post office, together with evidence of your new address (a household utility bill or a bank statement will do). Staff in your post office will then amend the details on your record and your licence will be updated and re-issued to you. This service is free. If  you are movingabroad – there is no refund available on TV licences.

Cable/digital television

If you subscribe to cable or digital television services, you will need to contact your service provider to either cancel your account or arrange for a service in your new home. You may be able to transfer your account from your previous address, depending on where you are moving.  

Electoral register

The Electoral Register is held by your local authority. A new register is compiled each year and you have until 25 November to have your name included or to make any changes (such as a change of address) to your details. If you miss this deadline, you can apply to have your name included in the Supplement to the Electoral Register. To do so, you will need to complete a Change of Address form and return it to your local authority. There is no fee for this service.

Driving licence, car insurance and vehicle registration details

Car Insurance :You must contact your insurance company or broker and let them know your new address so that your insurance policy can be updated.

AA/ RAC - If you are a member of a break-down service, don’t forget to change your address with them also.

Vehicle Registration: Remember to fill in the change of address section on your vehicle registration certificate and return it to the Department of the Environment, Heritage and Local Government. You will find the address on the certificate. They will update your details and send you a new registration certificate. There is no charge for this service.

Driving Licence : You are not obliged to change the address on your driving licence, but it is advisable to do so.

House, health and life insurance

You will need to contact your insurance company to discuss your house insurance as coverage varies from one company to the next. You should also ask if the contents of your house will be covered during the move. Many insurance companies will insure your house contents in transit as long as they will be packed and moved by a professional moving firm. If not, most moving firms provide moving insurance.

Your health insurance company will also require your new address details so information on your policy and renewal can be forwarded to you directly.

Children’s schools

If your children will continue to attend their current school, you just need to make sure that the school has your new address and contact number. If you have enrolled your children in a new school, make sure your child’s school records have been transferred there before they start. Don’t forget to let your children’s current school know when they will be leaving.

Financial institutions

If you are moving to a new area, you may want to move your bank account to a local branch. There is no charge for this service. If you are staying with the same bank branch, make sure they have your new address. You will also need to contact your building society, credit union, credit card company, pension provider, etc.

Revenue Commissioners

You will also need to notify your change of address to the Revenue Commissioners. Make sure you contact the correct tax district; you can get the contact information from any of your tax documents. Always quote your PPS number in correspondence or on the phone.

Employers

Get in touch with the Human Resources (HR) and the payroll departments where you work and give them your new contact details.

Social insurance and social security payments

If you receive any social welfare payments, such as Child Benefit or Jobseeker’s Benefit you will need to contact your local social welfare office to let them know your new address. Failure to do so may result in disruptions to your payments. They will require proof of your new address, such as a utility bill or bank statement.

Health professionals

You will need to notify your change of address to your doctor, dentist, optician and any other health professionals that you deal with. If you are moving to a new area, you can contact your Local Health Office for details of health professionals in your area. Make sure your health records are transferred to your new professionals.

Estate Agents and Auctioneers can charge as much as 2% commission in Ireland – plus advertising expenses.  Many of them have a minimum fee . Using an  agent  to sell your house could leave you with a bill for four or five thousand euro.

Do you really need an estate agent to sell a house?

Legally – no.  The perception seems to be that  you must employ the services of an estate agent to sell a house.  Most people do it – and everyone just follows suit.
When a buyer has been found – all the important  legal work is taken care of by solicitors or conveyancers. The estate agent’s job is just to find buyers – but in today’s world of online property websites is the old fashioned estate agent really needed?

If you want to reduce a bit of the hassle of selling a house and get someone else to take a few pictures and write some nice things about your house – and pay them at least €3000 euro – then by all means use an estate agent.
It is not beyond most people with a computer , a digital camera and a couple of spare hours to put their house up for sale in Ireland. Even when you use an agent – they are still (hopefully) going to be calling you to pass on offers etc and arrange viewings. You could easily do that yourself.
The internet is  a powerful tool for house buyers – so getting your property online is vital for anyone trying to sell a house. In larger towns and cities – there will be people looking around for properties for sale – and the usual “For Sale” signs will be another major source of attracting buyers.

There are a few websites in Ireland that cater for “For Sale By Owners”.

The biggest one I could find that deals exclusively with owners selling themselves is SellitYourSelf.ie . For just €195 Euro you can get your property listed online on their site and they also provide quality “For Sale” boards for you to put up outside. The fee of €195 is the only fee you pay – and the listing and photos remain on the site until the house is sold. See more details and register here

Daft.ie is probably the busiest property website in Ireland that allows owners to sell their own house. The majority of houses on the site are put on by estate agents – and there are thousands. For €195 euro you can join them.

Myhome.ie dont take listings from individuals as far as I can see.

Your home’s windows, walls, and floors can be designed to collect, store, and distribute solar energy in the form of heat in the winter and  reject solar heat in the summer. This is called passive solar design or climatic design. Unlike active solar heating systems, passive solar design doesn’t involve the use of mechanical and electrical devices, such as pumps, fans, or electrical controls to move the solar heat.

Passive solar homes range from those heated almost entirely by the sun to those with south-facing windows that provide some fraction of the heating load. The difference between a passive solar home and a conventional home is design. The key is designing a passive solar home to best take advantage of your local climate.

You can apply passive solar design techniques most easily when designing a new home. However, existing buildings can be adapted or “retrofitted” to passively collect and store solar heat.

The Passive House concept represents today’s highest energy standard with the promise of slashing the heating energy consumption of buildings by an amazing 90%

A Passive House is a very well-insulated, virtually air-tight building that is primarily heated by passive solar gain and by internal gains from people, electrical equipment, etc. Energy losses are minimized. Any remaining heat demand is provided by an extremely small source. Avoidance of heat gain through shading and window orientation also helps to limit any cooling load, which is similarly minimized. An energy recovery ventilator provides a constant, balanced fresh air supply.

Direct gain is the simplest passive solar home design technique. Sunlight enters the house through the aperture (collector)—usually south-facing windows with a glazing material made of transparent or translucent glass. The sunlight then strikes masonry floors and/or walls, which absorb and store the solar heat. The surfaces of these masonry floors and walls are typically a dark colour because dark colours usually absorb more heat than light colors. At night, as the room cools, the heat stored in the thermal mass convects and radiates into the room.

An indirect-gain passive solar home has its thermal storage between the south-facing windows and the living spaces.

The simplest and most reliable sunspace design is to install vertical windows with no overhead glazing. Sunspaces may experience high heat gain and high heat loss through their abundance of glazing. The temperature variations caused by the heat losses and gains can be moderated by thermal mass and low-emissivity windows

The recent extreme cold weather can cause major problems if water pipes in the  home freeze. Any exposed pipes, inside or outside your home, may be at risk from freezing and splitting in cold weather.

Preventing frozen pipes

• Insulate external pipes and any internal ones that are exposed to freezing, paying attention to corners and elbows of pipework as these tend to be the most exposed. Woodies sell this easy to fit  Pipe Insulation
• Turn off any indoor valves on pipes leading to taps outside your home. Then open the outside tap and leave it open to let any water drain. This will ensure there’s no water in the pipes to freeze.
• In cold weather, check all your taps in your home from time to time. If little or no water flows there may be frozen water in the pipes.
• If you are going to be  away your home during the winter, ask someone to check your home – this should help ensure burst pipes are spotted early and any damage is kept to a minimum.

Preventing water leaks

• Know where to find your stopcock and use it to cut off the flow of water if a pipe starts leaking.
• Fix any dripping taps as soon as possible to avoid a more a serious escape of water.

Central heating

* If you are away from home in the winter, set your central heating to come on for a short period each day to prevent freezing. Don’t turn the heating off while you’re away.

Loft insulation

• Apply foam insulation to pipes in your loft and make sure joints and bends are covered.  Woodies sell this easy to fit  Pipe Insulation
• Make sure your water storage tank is well insulated, particularly if you think it’s in a position where it may be at risk from freezing in very cold weather.  Woodies also sell Cold Water Tank Jackets .
• When the weather is particularly cold, open the loft hatch to allow warmer air from the rest of your home to circulate in the loft.

These days – with many more people out of work – more homeowners are doing the little jobs around the house themselves. If you know what you are doing – and use good tools – DIY can save you hundreds of Euro as well as keeping you busy.
To get good priced tools and DIY equipment – you can shop online and get them delivered. For good prices try these UK online shops that all deliver to Ireland.

Amazon sell a big range of tools, hand tools, power tools and other DIY materials. Free delivery to Ireland available on orders over £25. You can also buy some great books and guides on DIY.

Tooled Up also sell tools for all jobs – from drills to saws , sanders and sockets, spanners and spades. Delivery charges  to Ireland depend on the order weight – but range from about £10 to £25

Anglia Tool  Centre do free delivery to Ireland and the UK on orders over £100. (£5 on orders under £100) . They specialise in power tools and also sell other  items for your home such as Mira showers, Karcher Pressure washers. House alarms etc.

Maplin also sell a range of tools – power and hand tools , soldering tools, tool boxes etc. Delivery to Ireland is just £8.78 per order.

At last – Vodafone mobile customers can get an iPhone. You will have to sign  up for an 18 month contract – same as O2 . It will be available from 25th March 2010. You can pre register and pre order online NOW. Available on pre-pay too as well as monthly contracts.

See More Here Iphone at Vodafone

The iPhone 3G 8GB device will be free for all qualifying upgrades and new customers on its Perfect Choice Access 500 and 700 plans – which start from from €80 per month.

The iPhone 3GS 16GB device is also free for customers using the Perfect Choice Access 700 plan – but will will cost up to €199 to purchase it with the most basic price plan.

The iPhone 3GS 32 GB version retails from €49 to €299, depending on price plan.

Iphone at Vodafone

Irish house buyers are now employing private investigators and specialist agencies to investigate their future new neighbours . The prospective buyers can have things checked out like -  whether they have criminal records to whether they are fond of throwing late-night parties.

The managing director of a company which offers the vetting service says that auctioneers have a “lot to answer for” by failing to tell housebuyers of anti-social behaviour in particular neighbourhoods.

People are also contacting private investigators to make sure that the sweet old lady living next door is all she seems, and not a drug-dealer likely to be the subject of late night visits from clients.

“You have first-time buyers looking to buy everything from an ex-council house to a three-bed semi-detached and upwards, and property is such a valuable asset now they don’t want to have to sell at a reduced price,” said Donncadh O Cinnsealaigh of Investigate Services in Naas, Co Kildare.

“It can be problematic buying a house in a particular area. Everything is aligned to the value of a property, people aren’t blinded at the chance of getting their first home.

“An elderly couple would want a nice quiet area. In the day time, it might be quiet; but at night, the young people come out. They also want to know what the age profile of an area is, and will there be problems in the future. They would say just check the immediate neighbours.”

A dedicated service for homebuyers will also look at facilities in the area, so people can make an informed choice. “The concept was in the making for a number of years. I noticed a high number of people taking legal action against their neighbours,” David Gibney of whoaremyneighbours.com said.

“People pay a lot of money to buy a house. They pay for an architect to survey a second-hand property, so I thought ‘why not survey the area’?”

“The auctioneers in Ireland have a lot to answer for. They might say there’s a widowed woman living next door, but they don’t mention her three sons who are unemployable and are out half the night.”

House prices fell again in Ireland during August 2007 –  to bring the rate of decline to 3.3 per cent since the start of the year, according to the latest Permanent Tsb/ESRI house price index.  The index shows house prices nationally fell 0.3 per cent in August following on from a 0.4 per cent drop in July.
As a result, the average price paid for a house in Ireland in August was €300,375, compared with €306,173 in August 2006, a fall of 1.9 per cent over 12 months.
During the 12 months to the end of August 2007, house prices in Dublin fell by 0.6 per cent. Outside Dublin they dropped by 2.9 per cent over the same period.

Houses in  counties of Louth, Meath, Kildare and Wicklow around Dublin showed some of the sharpest falls, dropping 1.3 per cent in August, bringing to 5.4 per cent the fall in prices in these areas over the year to date.

According to Permanent Tsb/ESRI estimates the average price of a house in these areas is €325,568, down from €344,186 in December 2006.

Niall O’Grady, head of marketing at Permanent Tsb, said: “While we have seen attention-grabbing stories about declines in the asking prices for some houses, the index confirms that the actual rate of change in house prices across the country remains modest.

“Since the start of this year, prices have declined by 3.3 per cent on average.”

Among the different types of property bed semi-detached house prices grew by 0.9 per cent in August, although they remain down 3.4 per cent on the year as a whole.

Purchasers buying their second or subsequent property paid on average 0.2 per cent less in August than in July and 3.5 per cent less than in January. First-time buyers were paying 3.6 per cent less than at the start of the year, and an average of €268,904.