House Buying Advice - Belfast

funkey_monkey

Hi guys,

I'm starting to look into buying my first property at the grand old age of 35!

I've got savings of approx £180k in various saving accounts and ISA's.

I'm looking to buy a property in Belfast - preferably detached, but I've not got a lot of experience in house buying or aeras in Belfast. I've mostly lived in and around the Uni area - Stranmillis and Ormeau so that is where I've been looking recently.

However, I've not seen any detached houses which come within my budget - which is under £180k. How much further would I need to stretch to get one?

I'm looking for a quiet area with good services. In terms of property 3 bed property is sufficient - I intend to use the small room as an office and maybe rent out the other bedroom.

I've currently been looking in and around Rosetta and Forestside, but I get the feeling that I may be missing a better deal eslewhere due to my lack of knowledge of other areas.

In relation to semi-detached properties I am not considering anything where the living areas back onto the neightbours living quarters - I prefer to have a gap between us and them. Although in this position I would ideally prefer a detached property.

Finally, I would prefer to live in a mixed area, garage is essential, off-street parking. State of repair is not a deal breaker if priced correctly.

Any advice would be appreciated.

Also, does anyone have a link to a useful list of things to check look for when viewing property?


Many thanks,

F.

x12yhp

Cheeky question perhaps but why limit yourself to that budget? With such a huge deposit, you would be able to borrow for a small mortgage at very low rates and it would move you from the bottom end of the market you are considering and up into something really nice. I would think that with that level you could get yourself up towards 300k total for not much more than £400pcm of a mortgage.

homeboy

housepricecrash dot co dot uk is the site for you right now....loads of excellent advice from people who've been there. Check the Norn Iron section.
H

tommie

agreed....best advice there..

http://www.housepricecrash.co.uk/forum/index.php?showforum=52

x12yhp

But do be aware that some on HPC will never think the time is right to buy... so pinch of salt is required.

ally_bee47

have you considered looking into repossession houses. I know its unfortunate to gain with someone else bad luck but there are some great deals (or so I have heard) with certain estate agents that handle them (sorry, cant remember which)

Fathero3

Let me think...

...NI economy overly reliant on public sector income...

...two years of negligible (1%) pay rises just announced for public sector workers...

...unlike GB, full cut backs in public sector numbers still to be implemented...

...majority of increase in public sector pension contributions still to be implemented...

...serious possibility of regional pay for public sector...

...implementation of water rates only temporarily postponed...

...effect of cheap NAMA sell-offs still to kick in...

...!!!!!!, do not buy a house now!

:eek:

...save your £180k for a couple of years, and you will be able to afford so much more.

:j

phadge

I am in the process of buying at the mo. I know, as the above posted wrote, a lot of ppl think it's a bad time, but I know it is cheaper for me to pay my mortgage than to continue renting - by £25 per month!!
I found a house up in Knockbreda. I would stick to where you are happy, Rosetta and Forestside direction are great areas, with high demand, so you will easily sell in future if you decide to.
I say go for it!

saverbuyer

phadge wrote: »

Rosetta and Forestside direction are great areas, with high demand, so you will easily sell in future if you decide to.
I say go for it!

How could you possibly know this? For what it's worth houses are taking months and years to sell and demand is not "high" in rosetta and forestside. You have been listening to estate agents too much.

I say hold back, prices are still dropping massively. Plenty on here bought or built on or near the peak. Some have lost 60% of the value and will never see that again. I wouldn't move from rented to save £25 a month - when prices are falling thousands per year.

steveymp

Unless you find a perfect house in an area you really love and intend to stay there for 10-20 years I would listen to all the others advice on here, they can be cynical at times but they speaky the truth

House prices are only going 1 way for the next few years at the very least.

warmhands.coldheart

My view is, if you see the house you really want, you can afford, at a price you think is "fair" and are happy to pay. go for it. that's not to say you shouldn't make a cheeky offer.... you may be surprised. if houses fall to much more, people will just not sell unless they have to (job move, redundancy, reposession etc. etc. and then there is no guaruatee you'll get exactly what you want.

We've just bought a house and renovated it.... yes we may have been able to get it "cheaper" if we held off, but then who's to say someone else wouldn't have bought it while we sat on our hands and waited for the seller to drop the price?

Something is only worth what someone is willing to pay for it. If you see something which you love, you are planing to stay in it long term and you can comfortably afford it... GO FOR IT!!