5 Negotiating tips to make sure you get the best house price

When buying a home, you can expect to negotiate with the seller or estate agent for a better price. In fact, many homes end up selling below the asking price, since most sellers ask for slightly more than market value to account for negotiations. Your ability to negotiate could have a huge impact on whether or not you pay the best possible price for your property. Here are some tips to help prepare you for this part of the home buying process.

1. Don’t be afraid to negotiate

While asking for a better deal may seem awkward at first, it is completely normal to haggle for a house price. The reality is that haggling and negotiating happens regularly in the real estate business, and many homes sell below asking price every day. Most sales people are not offended by you asking for a better price, and it is often quite the opposite, as this signals your interest in buying the property. However, it is crucial to ask politely and avoid any hostility and confrontation during negotiation.

2. Research the local …

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 How to Choose the Best Mortgage Lenders in Ireland

Currently, there are 10 mortgage lenders in Ireland. These include Ulster Bank, ParmanentTSB, KBC Bank Ireland, ICS Mortgages, Haven, Finance Ireland, EBS, Bank of Ireland, Avant Money, and Allied Irish Banks. All of these mortgage lenders are financial institutions which give home loans to people who aspire to own a home.

You are probably thinking about how to pick the best of the 10. When choosing the lender that best suits your need, the major factor to take into consideration is the amount of mortgage you want to borrow. Each of the 10 mortgage lenders in Ireland will make an assessment of your assets, debt, and credit score, each differently. You should note that the Loan to Value Ration (LTV) is  the most important pieces of information that the lenders will look. LTV is calculated by dividing the money you are borrowing with the property’s estimated value. With the LTV, the lender will be able to understand the risks involved with lending you the mortgage. Normally, the LTV of a loan is 80 percent or less. It is important to …

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Is it Expensive to own a house in Ireland?

Dreaming of owning a house in perhaps one of the best tech countries in the making? The yearly rate of house owning in Ireland has finally fallen to less than one percent as the cost of owning houses has been continuously falling. In Ireland, you must conduct the majority of your property searching on your own. Real estate agents will only display you homes that they have listed, not those that have been listed by other agents.

Once you’ve narrowed down your desired area, start looking in local newspapers and internet. Create searching notifications to get notified as soon as homes matching your requirements become available. You must also contact and enroll with properties for sale agents in your desired region. A property assessment should be a condition of any purchase you place on the property. Because the seller in Ireland would be under no duty to reveal faults in a property, you should just get a full survey to see whether there are any before completing the purchase. Certified auditors in Ireland are represented by the Association of Certified …

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Average costs of living in Ireland increasing?

While Irish inflation has been low in recent years—consumer prices increased by only 0.3 percent yearly from 2013 onwards—rapid price rises in particular industries have meant that many customers’ wallets have been pinched more than the official statistic implies. Private rentals have risen by 7% per year during the same time, while health insurance has risen by around 4.5 percent per year. Spending on things like these is consuming an ever-increasing percentage of many people’ incomes. A recurrent finding in the KBC Bank consumer’s take poll is that people feel that their own individual economic condition has not progressed as much as the key Irish macroeconomic factors imply.

Consumer prices in Ireland decreased by 1.1 percent in August compared to the same period last year, and by 0.5 percent on average since March, according to official inflation statistics. This drop, however, does not appear to be reflected in current consumer sentiment. We asked customers to estimate how much their own total cost of housing has risen in the past 12 months as part of the general consumer mood poll for August. Although …

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7 Tips for Entrepreneurs in Ireland

Being an entrepreneur can be both exciting and challenging. Here are 7 tips to help you navigate the ups and downs of building a successful business.

1. Learn to Embrace Risk

Starting your own business is a risk in itself, but don’t be afraid to take on more risk along the way. If you are too cautious and risk-averse, you may end up missing out on great opportunities for growth. Jeff Bezos has said that learning to take risks has helped him to realize that he wouldn’t regret failure, but he would regret not trying.

2. Have self Confidence

A crucial element of being a successful entrepreneur is leadership. And the most important trait required to be an effective leader is self-confidence. Henry Ford, founder of Ford Motors, famously said, “Whether you think you can, or think you can’t, you’re right.”

3. Learn From Your Mistakes

Mistakes are a part of life, and nobody’s perfect, especially in business. However, many entrepreneurs tend to either ignore their mistakes, or dwell on them for too long. A more productive approach is to …

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What is the difference between Fixed and Variable Rate Mortgages?

The two most common types of mortgage are fixed-rate mortgages and variable-rate mortgages. Although there are many options among these two types in Ireland, the first step in searching for a mortgage is identifying which of the two primary loan type best meets your requirements. Most people seeking to own homes usually find themselves torn between taking fixed or variable loans. A fixed-rate mortgage has a fixed interest rate that does not alter during the loan period. Most individuals see Variable Rate Mortgages as being too much complex than the Fixed Rate Mortgages because the interest rate charged initially on Variable Rate Mortgages (VRMs) is usually set under the rates that are being charged in the market. The amount of deposit and interest paid each month for Fixed-Rate Mortgages may vary; the overall payment stays consistent, making budgeting for homeowners simple.

The primary benefit of a fixed-rate loan is that it protects the borrower against a significant and unexpected rise in mortgage repayments if interest rates climb. Fixed-rate mortgages are simple to comprehend and differ little from one lender …

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Looking to buy a home? Here are 5 things to avoid

Thanks to the internet, the buying of property is now an easy process in Ireland. There is plenty of information that is available for you whenever you wish to undertake a research on the process of buying a home. Despite this being the case, many people in Ireland fall into common traps. This posts aims to highlight five major things to avoid so that you can purchase your next property in a stress-free manner.

Ignoring the math

Without a doubt, the most important step to take when considering to buy a home is working out exactly the amount of money you will have to spend to purchase it. While this can be very obvious, a majority of people do not often work out the amount of money they would need to spend, and this leave many of them facing serious financial shocks later down the line. One of the most common mistakes is concentrating only on both the deposit and the purchase price without knowing that there are other fees like survey fees, solicitor’s fee, and Stamp Duty. The …

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Top 5 Cities to invest in Ireland 2021

Investing in property is one of the biggest decision you will ever make in life. Location is perhaps the most significant factor to take into consideration. As an investment, property in a good location will continue to be an asset regardless of the future fluctuations in the real estate market.  In Ireland, there are 5 cities which guarantee that your property continues to be profitable investments because of a good flow of tenants, low maintenance costs, high capital appreciation, and the good rental yield.

Dublin

Of course, Dublin is first in the list. The city is at the top of the list when it comes to best places to purchase property according to the Emerging Trends in Real Estate Reports of 2020. The city’s real estate market is powerful in terms of both development prospects and investment potential. The city comes third after Berlin and Lisbon as the best place to invest in the whole of Europe. The growth of technology in the city is attracting tech giants like Facebook and Google, whose growing number of employees prefer to …

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Methods to start growing money 101

Everybody wants their money to increase. But let’s think about the most fundamental question – what’s it to be rich in Ireland? Before we get to the ‘how to’, do you drive a BMW or have luxury cruises and eat at the high-end restaurants? Well, this is only the icing on the cake. It’s enough money to be truly prosperous, to assure a financial future. How can we become rich if we cut to the chase? Have you ever wondered what is common to the rich? It’s their approach to money and, of course, a little luck. Wealthy individuals invest in the long-term and are not dismissed by transitory upheavals and falling. 

The first best way to grow money is avoiding debt. Debt is like marsh for many individuals and therefore, it should be avoided because it gets them stuck as they get deeper. Build a habit that you won’t accept extra debt no matter what. Probably the most significant impediment to being affluent for most of us. When you want to invest, prioritize two things; pay off your …

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Why are Mortgage Interest Rates so High in Ireland?

Recent reports from the Central Bank of Ireland indicate that mortgage holders in Ireland are still paying much higher interest rates as compared to most of their  neighbors in Europe. Therefore, why are people in Ireland paying high mortgage rates and is there a way to reduce it? Currently the  interest rate for a first-time buyer is at 2.79 percent, which means that it is now the highest in all of the 19 countries in Europe together with Greece. Despite the fact that the interest rates have dropped by 0.11 percent as compared to last year, they are still way more than what is being charged in other places in Europe where the average rate is as little as 1.31 percent. 

In a report by the Banking and Payment Federation of Ireland (BPFI), the mortgage for a first-time-buyer in Ireland is approximately €225,000. Basically, this means that someone who borrows this amount with the hopes of repaying it in 30 years ends up paying an extra of €167 per month and over €2,000 annually as compared to other countries …

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