Buying a house can be a scary and unfamiliar process for first-time buyers, and the techniques involved in buying a property have changed in the past few years. Here are some tips on how to purchase property in Dublin.
In 2018, technology places a massive part in daily life – this includes property. When trying to buy a house it is important to utilize modern technology to your advantage. Your laptop, smartphone, and tablet can all provide you with real-time information on the status of properties you potentially want to buy.
Websites such as Daft and MyHome are invaluable to buyers as they can show you what properties are on the market, and which are most suited to your needs. You can also set up email alerts, which will send new properties straight to your inbox. Any property that seems to suit your wants and needs will then be emailed to you directly. This gives you the perfect opportunity to see if that property is right for you.
The shortage of available properties in the capital, and the subsequent rise in house prices mean that it is essential for the buyer to be proactive in their search. The perfect property will not find you – you must find it. Set up email alerts from property websites, consistently check new property listings. Ring estate agencies to get updates on the bidding situation for a property. Alternatively, consider hiring a buyers’ agent to find a property on your behalf. They can represent you throughout the search and purchase process. Enlisting the help of an expert provides you with helpful advice and knowledge.
Across Dublin there are many new housing projects, in fact there are over 100 new housing projects. So 2018 definitely seems to feel the year where the housing market is falling into place. New build property scheme applications were taken away from local councils and given to the An Bord Pleanala. They are the the authority for development here in Ireland. They were then able to speed up the application process for new builds. Under this system upwards of 11,000 new homes were granted to be developed.
KNOW WHAT YOU ARE LOOKING FOR
One of the key tips relating to how to buy a property in Dublin is knowing what you are looking for. It is important to focus your search result. What can you afford? What areas do you hope to find a property in? List out all of the things that are essential for you in a property. Ask yourself what you can live without. Knowing exactly what you are looking for in a property will reduce your search time and improve your chance of success.
HAVE A BUDGET
Take the average price of properties in your chosen area into consideration. What can you afford? You may want to consider moving to a less expensive area or looking for a smaller property. Will the property need to be renovated before you move in? Take into account the possibility of a bidding war, and that a property within your budget has the potential to rise dramatically.
With the promise of further developments within Dublin, house prices are set to drop slightly making it better for first-time buyers and many others.
Learn how to negotiate for the best deal possible by following the example of property professionals. Have the property appraised to ensure you don’t drastically overpay for it. This can critically affect your mortgage application. You don’t want to spend a large sum of money on an investment that is not worth it.
HIRE EXPERIENCED PROFESSIONALS
The solicitor you choose to handle the legal aspects of the sale should be experienced in property law. This way you can be sure that the contract of sale is correct and aboveboard. If your property needs renovating before you move in, make sure your contractor is reliable. A good way to check this is by looking at reviews and testimonials, or by getting a recommendation from a friend.
You can also hire an experienced buyer’s agency, such as Eldron, to make the process of buying a property an easier one. We provide a rage of services, including sourcing, negotiating, and appraising property, property project management, and letting services. We also provide our clients with a list of trusted, professional contacts, who can help with all aspects relating to how to buy a property in Dublin.
If you are interested in any of our services, book a free consultation with us to see what we can offer you.