If you’re here, you’re either buying a house or thinking about it! I am both jealous and feel your pain! Hopefully, the below infographic on the 3 most important steps to buying a house will help you out! Or at least give you a good starting point, because buying a house is a minefield!
Over the last few weeks, I’ve been helping a friend of mine buy a second home. That sounds a little fancier than it potentially is… she lives in France and she’d like to buy in Ireland and because the housing marketing moves so incredibly fast here I’ve been helping her with viewings and narrowing down her prospects. Good love her, by the time she’d fly over to see a few houses they’d all be sold!
It got me thinking to my own house purchase and how utterly ignorant I was. I’m now 13 years in my home… I still can’t believe I managed to buy a house at all, [that is in no small part to my amazing [now] husband and my generous parents.] I was a youngin at the time without a bean to my name. James got this daft idea, 4 months into our relationship, that we should buy a house. I could barely afford my mobile bill [read: cell phone bill for those in the US], let alone a mortgage, and this was during the time they were just handing out mortgages like supermarket samples on a Saturday morning.
I bought a house in a matter of weeks!
It was a whirlwind, but within a matter of weeks, we’d secured a mortgage, been outbid on a property and on a whim put a deposit down on a new build. I still remember the surprise in my parent’s voices when I called to tell them we’d bought a house! It was a different time. [ God I sound ridiculous saying that but…] It’s not as easy now.
- There are considerably fewer houses for sales in Ireland now than there was then.
- It was very easy to get a mortgage.
- You only had to have 10% deposit back then, as opposed to the 20% now… AND there were even ways of getting around the 10%.
- It was the boom years… people had more money and not everyone had faced multiple redundancies and pay cuts.
So yes, I count my lucky stars that James had his daft idea way back when. Fun fact, based on the current rental market in Ireland right now, I couldn’t afford to rent my own home if I needed to. The rent it would/could generate is over twice that of the cost of my mortgage… absolutely crazy if you ask me! How do people survive in this country?
Are you buying a house? What stage are you at? What are you finding most difficult… let me know in the comments below?
Unfortunately, the search continues. We know what she wants, where she wants it and how much she wants to spend…. we just have to find that perfect trifecta and get there first!
The 3 Most Important Steps to Buying a House