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15 Tips on How to buy a property in Ireland in 2023 - Things you should know before buying a house.
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- čas přidán 14. 08. 2024
- 15 top things you should know about buying a house in Ireland if you are a first-time buyer, second-time buyer, or buying overseas in 2023 in Ireland.
I am going to try get 15 top tips and insights completed as fast as I can. For speed, I am going to assume you have your deposit ready or you are working on it. I am not going to provide saving tips.
This video will cover, Desk top research, Drive bys, Viewing property, methods of sale in Ireland, property ownership, property negoations, new homes, sale agreed, building survey, closing sales and costs of buying a property in Ireland.
My name is Shane Fleming a chartered property expert with over 18 years of experience in real estate, a degree in property economics. The views in these videos are my own and are just entertainment no finance advice has been provided.
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00:00 Intro
00:24 Increase Earnings
00:49 Build A Team
01:27 Lending Rules in Ireland
02:08 Needs & Wants
02:34 Desk top research
03:02 Drive bys
03:25 viewing properties
05:13 Befriend the Agent
08:24 Methods of Sale
10:21 Property Ownership
11:41 Sale Negotiations
13:45 New Builds
14:37 Sale agreed
15:56 Building Survey
19:24 Contents
20:12 Closing & Costs of buying
#housing #ireland #property #2023
You deserve more views, this is invaluable. Thank you.
Thanks for the support. Please feel to share the video on other social media
Brilliant! I enjoyed the Samuel Leeds touch 🤣
this video is so refreshing to see- helpful, detailed, and practical. no gimmicks, nothing click-baity, just an honest, intelligent man spreading his knowledge in a concise and efficient way. as a Canadian who is moving to Dublin in three weeks, I cannot thank you enough for this gem of a video.
Delighted you found it useful. Thank you so much for the feedback
Best of luck in ireland
Great. Thank you for tips. Started in mid 2022 all buying process,it's hard. but failed. Now new year,and time to gather more energy,strenght and continue. Hope to get my own house buy end of 2023. Happy new year to all,and let it be good to us.
Best of luck with the search. Happy New year to you too
Thanks for this Shane. Super helpful video 👏👏
Glad it was helpful!
thank you sir for your invaluable explantion ad tips 🙌🏽❤
You are very welcome. Thanks for the support
Very useful information as always!!
Thank you once again!
Happy new year to everyone.
Thanks for the support. Happy New Years
Very helpful. Thank you.
Thanks for the support
Happy New Year Shane. Great start to the year. These tips I'll keep in mind.
Happy new year to you too.
Thank you as always.
Thanks Carl
Excellent information than you
Thank you for the positive feedback
Shane, I am very glad I came across this channel. I'm trying to get my wife back to her home. Midleton Have looked at so many property's, but I cant get the realtors to take me serious. Once I say I'm from the states I'm sure they laugh. We have a bank account in Ireland with enough to pay cash. What would be advice to get taken serious? Other than showing up I person? Your tips and information are a great help.
Thanks for the feedback.
I would say reach out to a agent in Middleton, explain the situation, let them know your requirements if anything comes up you are a cash buyer. And ask them to rep you if an other agent has something.
I had a situation today. I was the first to put in a bid on a property. The property has had no interest for nine weeks now until my bid.
Today is the day after my bid and all of sudden a second interested party has come out from left field and bid 1k more.
It makes me very suspicious that the agent is game playing, and I am not interested in money fights anyway so I’ve walked away.
I have no doubt some play dirty. And as a first-time buyer they probably see me as an easy target.
It’s not worth the risk for agent.
It’s the nature of bidding many wait for the first bid to be made and they lots rush in. Generally the agent will inform the people that viewed the property that a bid was made and them a few will make bids quickly.
@@shaneflemingre Thanks for giving a second side, Shane. I appreciate your response and opinion.
The agent also wants to get the highest price possible, and if not many are showing an interest why wouldn’t they try lure me in to bidding more by any means. His job is to extort me for every penny to be fair so I wouldn’t even be biter or resentful.
The timing of it is what makes me so suspicious. No less than a day. Either way, I am not interested in game playing with either agents or other bidders. I lay down what I am willing to pay and I quickly move on if that’s not acceptable. I am in no desperate situation.
Also with a cost of living crisis, mortgages becoming increasingly unaffordable with higher interest rates, and less ability for people to save for deposits; I only see prices eventually lowering towards what I am willing to pay in the not too distance future anyway.
@@7oy it’s not worth the risk for agents. If found to place a fake bid they lose their business. Risk to reward is not there. They also have to record all bids and are audited every year. They would have to be very very stupid to place a fake bid. There might be a odd very stupid agent but they would be fools to place a fake bid
@@shaneflemingre I agree with you. What you’re saying makes sense. Most likely; it was a dirty investor lurking in the background waiting for someone to make the first move that turned me away from this particular property.
Hi Shane, thank you very much for this video (and the others I'm currently watching). It's definitely a must-watch. I have a question: is it really worth it to buy a house with a poor energy rating? I couldn't find much information on whether this is easily fixable or not.
The energy rating has only become a major factor for 5 years of so.
But you can improve the energy rating over time. New windows. Heating system etc
Shane, when moving home, do you think its better to put the current property up for sale first before finding next property, or vice versa?
It depends on your situation. If you need a new mortgage your bank may need the current property to be sale agreed before approving the mortgage on the new property
@@shaneflemingre Whats the energy like in NYC at the moment? I saw alot of people and businesses are emigrating out of there and New Jersey
@@henwen6080 still great energy in NYC, offices are starting to get people back in them but a lot of empty space.
But bars and restaurants are very busy. Biggest turn out for the ball drop ever on NYE.
People move in and out of the city all the time
Thanks, Shane! Question about bidding transparency for you. Those agencies that offer online bidding are clearly preferable but I've noticed they often don't show the complete history of who bid when and/or who withdrew their bid. On a property I was bidding on, they only showed 4 selected bids at a given time, despite there having been many more. How concerning behaviour is this?
Hi Adam.
If an auction they tend to show all the bids. But if private treaty they only show top few. It’s a private sale so more info than you would normally get.
Home Check
👌🏻
Thank you for the video Shane, have you produced anything on bidding strategy?
I have talked about it in videos. Maybe 10 tips or maybe how to buy in ireland video. But don’t think there is one video on just bidding
A major fallback in price could happen this year for sure. Everything corrected stock, crypto and it's now turn for real estate. Keep the cash aside to make use of the once in a lifetime opportunity
It could but supply is still limited, lots of cash in the market, inflation is high,
It isn’t as straightforward. Ireland/Dublin has massive supply shortage. Price hikes in material costs are either further increasing the prices or taking potential supply out of the market by pushing developers out. Also, interest rates are still very low in Ireland. I don’t see prices coming down any time soon. As the wise man said “the best time to buy was yesterday” and “you can’t time the market”. cheerio 👋🏻
If your letting how does tax work say my mortgage was 1200, my tenants rent is 2000 what tax would I pay as a landlord
If you are living over seas 20% less expensive. If in Ireland it will be based on your marginal rate of income tax.
Do you mean if overseas, 20% tax after deduction of expenses? And the mortgage repayment is also an expense.?
@@FaizanZahidNustian yea. But only interest is allowed now full payment
Only the mortgage interest can be claimed as expenses and not the full mortgage repayment? Full mortgage repayment cannot be shown as expense to reduce the profit to pay less tax.? Is the case same if I m resident in Ireland?
@@FaizanZahidNustian Yea only the interest payment
Should people get a buyer agent and how much does it normally cost?
If you don’t know ireland and the areas I would recommend getting one. Generally 1% or maybe min of €4/5k
@@shaneflemingre Thank you so much Shane. I have been in Ireland for nearly 9 years, so if i am ok with the area, it is ok to work myself right? They are fairly dearly.
What if you are an American and you think you can get Irish citizenship by blood ? Does that make it easier or different ?
If you plan to live ireland and your income is from ireland it shouldn’t be an issue.
If your income is from the US it makes it harder, they may look to discount your income by about 20%
TSB bank in ireland generally are the best for non irish residents but everyone will be different
@@shaneflemingre Thank you Mo Chara , Happy New Year
I know this is 2 mts old, but if you are an American trying to move to Ireland. Go online to" Immigrating to Ireland" I have been married to an Irish woman for 30 years and you would be surprised We just want to retire there
Fuck tip 1, make more money. Why didn’t I think of that 😂
Most people first tip is save more. Small increase in income has a bigger impact
Are you a real estate agent in Ireland? I’m looking at a property and could use a reliable agent.
Not a active agent. You can email me you requirements and budget and I can sent them on to a agent
@@shaneflemingre I already have a place picked out near Cork. I visited last week. But I’m having trouble reaching the agency. So I figured I should just find an agent. What’s your email?
@@RockwellScalesInc shane@flemingre.com
Hello, in one of your videos you were talking about social housing not being an answer for the current situation. However, as far as I know it works perfectly in Vienna. Could you, please, make more in depth video on the issue. I have seen several of your videos on the housing crisis so far. Just as the government and often people blame developers and landlords all the time, you do the same blaming the government. I am not saying that your lying or something, just trying to understand what is really going on and how it works. The current state of the market terrifies me. I came here from Ukraine about 8 months ago. I am working on becoming a physician here. I am 29 and I am here with my wife. Fortunately, we were provided by free accommodation, but we wont to move forward. So I am trying to get a grasp on this situation, so far I am just overly confused and shocked. Thank you.
I blaming the government because they make the rules and are voted in to do a job. And should be held to account.
Vienna, housing is more costly than Dublin if you want to buy. State housing is dominated as most of the housing stock was built in 20/30s when it was a communist state. And have remained in state owner ship.
Ireland sold their state houses to the public.
Austria has a higher homeless rate than ireland. If you compare ireland to Vienna better to lot at the entire country.
I am a FF supporter. Just think they can do better and stronger leadership is needed across the board
@@shaneflemingre as far as I know they are kinda right wing/republican. They might well be exclusion, especially considering that I didn't know anything about Irish politics, yet. But from what I can see around the world, republican like guys are not very good when it comes to "regular people" interests. Anyway, I hope this problem has some solutions. Feeling helpless because it might affect my future directly, and it feels like there is nothing I can do. Thank you for your response anyway
@@parikoaladashvili4870 they are more central. Not far right at all.
Ireland should be good for you and your family.
@@shaneflemingre Great content. Simple but comprehensive. Thanks. BTW, my father was in construction and said when FF were in power, he was never out of work, but when FG were in power, he had to take the boat to the UK or Belgium. Half my childhood, I only saw him every couple of months.
One top tip: DON'T!
What’s the alternative
Definitely agree.
CZcamsR/ CREATOR ADVICE.
10x channel
Lighting, aperture:
You seem bit distant on camera so, Overall good set but the lighting on your face should be little bit stronger. Like lighting on face should be stronger than background lighting but it’s not. You could also add a bit of background blur further making audience focus in on you. But background blue/ aperture thing is just opinion and not necessary. The lighting is a definite must do.’
Narration/speaking:
You don’t sound fake. you sound very natural in the way you speak so good job not putting on clearly fake persona that CZcamsrs do.
at same time I would try out more emphasis on your key points and be in overall more excited and positive mood. Just be like slightly more joyous and fulfilled sounding.
Video transitions camera angle:
Overall very good job doing zooming in and out but to do better,
Like graham Stephen I would advise getting second camera angle for your B roll which video should switch to when you paragraph makes its point or comes to a conclusion.
Or you could switch every paragraph in script to signify you have moved on to another point.
Title bit cheeses would make it more authentic and title should lend to the kind of tips you’re going to give I feel but still good title don’t have time to think of better one for this video.
Concluding statement:
just look up Paddy Galloway on CZcams he is brilliant for creators he’s consulted with Mr Beast and has does speeches for load of big corporations like apple. And his videos really nice to watch and very educational
Also,
Your channel really good that’s why I thought to give this advice. The video is packed with content much better than channels with millions of subscribers. Although content a bit niche, has brilliant potential. Would just redo the video with my advice, get 5x,10x the views.
Example:
most CZcamsrs get the east stuff (what I am saying right) and get your stuff wrong. All you have to do is pick up on the details and wow.
Thanks for the feedback.
I know Paddy. Chatted a few times. Ireland can be a small place