Looking to move to Dublin? Consider living in these areas

The city of Dublin is one of the most popular hubs for relocation for people from all over Ireland and the world. Divided into a north and south side by the Liffey River, Dublin has many great neighborhoods within its 24 postal districts. Boasting a population of 1.2 million people, more than 25% of the entire country’s population, Dublin is a busy city packed with a variety of inhabitants and lifestyles. Whatever type of lifestyle you’re looking for, there is a great neighborhood in Dublin that can suit your needs. Here is a brief look at some of the best locations in Dublin.

City Center South

Looking to live a city lifestyle, with great food and diverse nightlife? If so, City Center South may be for you. Though it may be a little more affluent and expensive to live in than its Northern counterpart, North Inner City, or D1, City Center South, known as D2, provides a great experience for those looking to live in a central location with lots of tourist attractions. Nearby attractions include the iconic Temple Bar, …

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What does it mean if your mortgage is in arrears?

The mortgage on your house or apartment is one of the biggest and most important financial commitments that most people have. If you fall behind on these payments, it could put you in a very difficult  place financially. When you miss mortgage payments, you may fall into what’s known as mortgage arrears. If you fall into arrears, your lender may eventually repossess your home. This is why it’s important to contact your lenders Arrears Support Unit as soon as you fall into arrears, or even pre-arrears. However, repossession is a last resort for your lender, as they generally want you to make all your payments on time. This is why, before they repossess your home, your lender is required to offer a Mortgage Arrears Resolution Process (MARP), per central bank guidelines. Under the MARP, your lender will offer a variety of solutions to help you pay back what you owe, in addition to paying back the amount in arrears in full.

If you enter the MARP, your lender will first conduct an assessment of your financial situation and your ability …

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Why Supporting Irish-owned business will be a key to pandemic recovery

As Ireland continues to emerge from the COVID-19 pandemic, its entrepreneurs and family owned businesses will play a huge role in the jobs-led recovery of the economy. The resilience of Irish businesses over the past year and a half has been remarkable, dealing with the challenges of both Brexit and the pandemic while continuing to innovate and make new strides in sustainability and digital transformation. Currently, the Government is targeting a eight to ten percent unemployment rate for next year, down from the current 22 percent rate. It also wants to see 2.4 million in unemployment by 2024, which is significantly higher than pre pandemic levels. KPMG tax partner Olivia Lynch believes that Irelands entrepreneurs, family owned businesses, and small business will be crucial in helping the Irish economy to recover and meet these goals. Lynch also leads KPMG’s private enterprise sector and believes that the Government is aware of the need to support these types of businesses moving forward.

Small businesses and entrepreneurships are a critical part of the backbone of Ireland’s society and economy. Lynch says “There …

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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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5 Features that make a profitable Rental Property

Investing in a residential rental property can be a great and profitable way to boost your investment portfolio. However, real estate is a tough business. For this reason, it’s important to do detailed research on the pros and cons of real estate investing before buying your first property.

It is important to start your search for property before bringing an agent into the picture, as they may pressure you to an investment that is not best suited for you. During this preliminary research, you’ll want to narrow down several key characteristics you are looking for in your property, such as size, location and amenities. In this article, we will discuss 5 key features to look for to ensure that your real estate investment is a profitable one.

1. Know Your Neighborhood

The location of your property is one of the most important things to consider. Knowing which type of neighborhood you are investing in will determine the type of tenants you will attract, as well as your vacancy rates. For example, if your property is near a university, then you …

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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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5 Things to Consider when Viewing a House in Ireland

As a first time buyer, viewing houses can be exhausting. There are countless things to consider, such as the layout of the home, the location and nearby schools, and much, much more. This can be a bit overwhelming when viewing open houses, as there is so much to observe you might miss some key details about the property. In this article, we will discuss 5 key things to observe and be aware of when viewing houses, so your dream home doesn’t turn into a nightmare.

1.How long has the property been on the market?

The first question you should ask the estate agent is how long the property has been on the market. If a property has been on the market for more than a few months and still isn’t selling, there’s usually a reason why. While this could come down to a number of things, from price to hidden structural issues to low demand, this is a good gauge of potential red flags.

2. Account for renovation

Many people make the mistake of buying houses that appear to be …

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Costs you Should be Aware of before Buying a House

There are more costs associated with buying your first home than just the 10% deposit. There are many additional fees, duties and taxes that you should be aware of before buying your home. 

 

The first fee you should be aware of is the stamp duty. The stamp duty is not included in your mortgage, so it’s a good idea to save this fee up in addition to your 10% deposit. The stamp duty is calculated at 1% of the selling price on a home or residential property of up to €1m, and 2% of the selling price on homes and residential properties above €1m. This stamp duty may change however, and full details are available on the Revenue.ie website. 

Legal fees are another hidden cost of buying a home that you should look out for. There are a lot of legal aspects that have to be accounted for when officially transferring ownership of the property to you, so you should find a trusted real estate lawyer to take care of this transfer. Legal fees will vary depending on …

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5 Tips to Protect Yourself from Cyber Crime

Cyber Criminals have many ways to access and steal your financial information online. In the past year, this threat has only increased due to the covid-19 pandemic and its effects, namely the increased amount of online banking and transactions. As fintech continues to make more and more advancements and we move closer to a true ‘cashless society’, making sure your personal finances are secure will be more important than ever. Whether it’s strengthening your passwords or using antivirus protection, there are many steps you can take to make sure your personal information and assets are safe and secure. Here are 5 easy tips to get you started. 

 

Protect Your Passwords!

You’ve probably heard that having a strong password is essential to your online security, and this couldn’t be more true. Use passwords of more than eight characters, containing both upper and lowercase letters as well as special characters. Avoid using the same password on multiple websites. If you do, a hacker could compromise all of your accounts with one lucky guess. For additional security, you can also consider using …

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4 Easy Ways to Improve your Financial Literacy

Financial literacy is one of the most important and underrated skills that anyone can have. Understanding basic financial concepts such as mortgages, inflation, and interest rates is critical for financial success. Once you unlock this knowledge, you will be better equipped to effectively manage, save, and invest money for you and your family. This knowledge, combined with other good financial habits, is the key to financial well being and freedom later on in life. While everyone has varying degrees of financial literacy, there is an overwhelming amount of resources available to expand your knowledge on financial topics.

 

Read Personal Finance Books

If you enjoy reading, there is no shortage of finance books that cover a broad variety of topics, from eliminating debt to saving for retirement. One book recommended by Forbes magazine that covers the latter is Rewirement: Rewiring The Way You Think About Retirement!, by Jaime Hopkins. This book tackles common misconceptions and bad habits that prevent people from having flexible and successful retirement plans. For a variety of books on many topics, check out Insider’s …

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