Smart Home Technology Pros and Cons

 

With each passing day, technology is advancing and adopting smart home technology is becoming a necessity in Ireland. In the past, a smart home was considered a luxury but today, it has grown to be an essential part of life. In this article, we are going to look at the pros and cons of smart home technology.

Pros

Convenience

The first advantage of smart home technology is convenience. Essentially, all systems within the home can be integrated, automated and customized to your needs. A smart home technology can enable you to interact with various electronic systems or gadgets. Whether you need to turn up the thermostat in the evening before you arrive home or monitoring security, smart home technology has got you covered.

Efficiency

The second advantage is efficiency. With a mobile app or a touch of a button, you are able to control various systems or gadgets in your house. With the help of a smart home technology, you are able to efficiently operate your home’s temperature, lighting, or other appliances with a single click from …

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4 Important Renovations to Increase the Value of your Home

 

If you are thinking about renovating your house, you need to begin by asking yourself if the project will add value to the property or not. There are many different quick and easy renovations which may change your home into an attractive, modern, and functional space. Even better, when you later sell the property, the return on investment will be really high. These are 4 renovations that will make your home more functional and modern. 

Bathroom renovations

Without a doubt, the your bathroom is one of the most important spaces in the home. When the bathroom is new, it can give off a good feeling of cleanliness. When you begin the process of renovating the home, ensure that the design is clean and that it has modern lines. Additionally, be sure to have grey and white colors at the center stage. Apart from a spacious shower, remember to paint the tiles, improve lighting, and install new fixtures. 

Kitchen remodeling

Kitchen renovation is one that adds the most value to your home since it transforms the space to a more …

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Is real estate the road to financial freedom in Ireland?

 

Real estate in Ireland is currently one of the most lucrative and secure business ventures.  The answer is yes, with the real estate sector being among the few sectors unaffected by the covid-19 pandemic. Real estate is the road to financial freedom in Ireland. Real estate as the road to financial freedom can be looked at in two dimensions: a tenant’s and an estate owner’s perspective.

First, let’s look at this from an estate owner’s direction. Renting houses in Ireland is getting more and more expensive by the days. The average price of renting a home in Ireland today is 30% higher than in 2018. This means that the Irish people in real estate are making a 30% increase in profits made from their investments. This is a lucrative business for the Irish people. Financial freedom might come with real estate in Ireland as it proves to be a venture that is unaffected even when the economy is adversely affected. In 2020, many Irish people lost their jobs to the pandemic, and the Irish economy went adversely affected. There …

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Why are investment funds buying up Irish Property?

Large-scale private rented sector (PRS) investors, sometimes called vulture or cuckoo funds, have rapidly become a major force in the Irish property market over the last few years.

As recently as 2017, these funds were a minor and insignificant part of the housing market. However, these firms have spent more than €6 billion buying Irish homes, apartment buildings, and commercial properties over the last three and a half years.

The cuckoo funds show no sign of slowing down in 2021, as they have spent €1.5 billion so far this year, according to recent figures from estate agents and property adviser JLL. Most of these funds are backed by international investors, and have quickly become big players in the market, particularly investing in deals for new apartments in Dublin.

But what is driving this relatively new and rapidly growing force in the market?

Analysts say that an influx of cash in European markets, lack of yields in traditional assets including bonds, and the huge surge in housing demand and high rent prices in Ireland have combined to create a very lucrative …

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How you can be approved for a mortgage in Ireland despite Central Bank’s rules

It’s no secret that house prices are continuing to rise in Ireland. Because of this, it is more important now than ever to maximize the amount that you are allowed to borrow. The Central Bank’s rules often do not make this process any easier, as many have criticized the Central Bank on its restrictive rules in terms of how much people are allowed to borrow. To be approved for a mortgage in Ireland, you first have to fall within the Central Bank’s income rules. Second, your lender will evaluate your repayment capacity.

First, the Central Bank restricts lenders to loans of 3.5 times the borrowers’ income (joint and single), unless they are granted an exemption. This means that someone making €40,000 can borrow up to €140,000, and a couple making €100,000 combined can borrow up to €350,000, respectively.  However, to be approved for a mortgage, they must also pass a stress test, per Central Bank rules. This tests the ability of the borrower to repay the loan each month should interest rates rise by 2 percent above what the lender …

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Why are Property Prices on the Irish Coasts Rising?

According to research, properties along the Irish coast have increased in value since the pandemic hit demand, with sea properties outperforming pre-covid times by a large margin. The reports also show that property values are now 23 percent higher than the national average growth in the same period before the Covid-19 Pandemic, which was only 8.7 percent. These coastal zones stretch from Carlingford and Rosslare on the east coast to Renvyle and Dunfanaghy on the west coast.

According to a property report on the Daft website, it shows that the prices of coastal properties have risen since the onset of the pandemic, echoing a few anecdotes. One reason for the increase is that popular coastal properties demanded a premium over properties in other parts of the country. The report explains why the price of a home with a view of the sea is rapidly increasing, as some people are retreating from city life with remote operating standards for many after extended city shutdowns.

The website (Daft.ie) focused on some well-known coastal areas, listings related to the price register, in …

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Are we at risk of Celtic Tiger property prices?

The Sunday Indepnedent ran a piece quoting Karl Deeter on the danger of high house prices, he said that ‘trees don’t grow to the sky’ which is a common expression in economic analysis that warns of the dangers of extrapolation upwards.

It’s common to hear ‘never again’ until something does happen again and that’s a real risk in housing because the headwinds are there to encourage an industry to go into hyper-supply which does resolve shortages but which usually also overshoots.

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Mortgage arrears in Ireland fall despite pandemic’s economic effects

Over the past year, the covid-19 pandemic has caused many economic challenges for Irish citizens and people worldwide. Between level 5 lockdowns, business closures, and soaring levels of unemployment, it would be logical to believe that people may be falling behind on payments, especially mortgages, which are most people’s largest and most important monthly payment. However, recent data shows that the number of mortgages in arrears actually  decreased during the first quarter of 2021, despite level 5 lockdowns and record high unemployment rates.

Recent data from the Central Bank shows that the number of family home loans in arrears decreased by 2,838 during the first three months of 2021. During this period, the Covid-adjusted unemployment rate hit its peak of 25.1 per cent in early January, as thousands of businesses were forced to close their doors due to level 5 lockdowns. This is surprising given that the number of people behind on their mortgage payments actually decreased, while conventional wisdom would expect to see an increase in arrears. This contrast suggests that government supports, such as pandemic unemployment benefits, have …

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Promote housing, tax it appropriately and spend that money on making more housing

When you talk about being in favour of ‘more property tax’ you quickly lose the room, but what if we had less income tax and more tax on immovable assets? This is a targeted wealth tax given the way that property and wealth are intertwined, it also means those with the most valuable homes would contribute more and could encourage down-sizing too which would help free up chronically under-occupied housing stock.

This can be an emotive topic, we understand that, but so is the plight of young people facing a market that isn’t affordable and a housing shortage that is driving prices to dangerous levels.

Listen to the full clip here.

 

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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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