My house purchase experience in 2023 with data on prices (asking vs sold) in South Dublin

[justinfaith]

@sbrodhagen This is great advice- fair play for posting it. Having gone through the process recently, I would echo a lot of your sentiments. In fact, I suspect we crossed paths in a few of those houses... familiar names!

FWIW, we ended up going for a newbuild. Great BER, no work needed and we had grown weary of the bidding wars! The price is the price and it's first come, first serve. Although that was one stressful morning getting our names down!

So many things that could be changed to make this a more pleasant process for buyers. It's a pity I see so few political parties going for this low-hanging fruit. It really is a seller's market, in every sense.

- Bidding should be way more transparent and buyers should have to put a small sum down into a 3rd party account before being allowed to bid (along with mandatory approval in principle)

- The asking price should be the price they actually want to sell it for. Once this is achieved, bidding stops and the house is sold (I believe it works this way in France)

- Houses should not be put on the market until probate is sorted

Congrats on your new home

 

[jereldean]

@sbrodhagen Fantastic post

 

[waggles]

@sbrodhagen Amazing work.

Surprised the increase from asking price was 4.2% on average ...what was the average asking price?

Looking at apartments in the area.

 

[sbrodhagen]

@waggles Average asking was €698,372

Keep in mind that we were looking for 3 bed houses with garden/parking so apartments would be lower.

 

[waggles]

@sbrodhagen Ya and different strategys may apply from the EAs too possibly for smaller stuff.

 

[resjudicata]

@sbrodhagen Quality post

 

[albertdavid]

@sbrodhagen And this is why I still have Reddit

 

[juliuscaesar]

@sbrodhagen Great post, thanks for this!

 

[sjb]

@sbrodhagen Thank you so much! This is very handy since I am at the start of the process !

 

[resjudicata]

@sbrodhagen Great post, well written.

 

[tazzigirl]

@sbrodhagen doing Gods work my man.

 

[sjb]

@sbrodhagen Quick question : Is it worth asking a friend to co bid ? Let's say the house price is 800k
They could bid 720 and I could do 725 and so on ?
Do they vet people much or is that possible ?
Myself and my wife are looking at houses now and this idea came into my head since My brother in law and his wife could bit "against" me but start on the lower price which could in return make my offer look better .
We are looking at houses down the country and they would be willing to view the house etc

 

[sbrodhagen]

@sjb In the example I had bidding online, you could do something like that. Not sure if there is much benefit though.

If a house only has your low bid on it and nothing else for a while then they might just accept it.

If there are two people bidding, the person who has been outbid (your friend) will be contacted to see if they want to bid higher. If they don't reply or say no then you are basically in the same place as if you had just put a bid in yourself.

Who knows though. Every seller is different.

 

[keepwalkingon]

@sbrodhagen Wow a whole essay great info ya the housing market has cooled down a bit since last year since all the fixer upper have been bought which deters the investors and builders
But a lot of new properties popping up every week can’t imagine renting today

 

[resjudicata]

@keepwalkingon “all the fixer upper have been bought”

Wat? There are no more fixer uppers for sale in Dublin?

 

[keepwalkingon]

@resjudicata Not that I have seen there is like 10 and there over priced have a look on daft

 

[joiner20]

@sbrodhagen Well done OP. Have to save this one for my next purchase.

 

[idreamofjeeny]

@sbrodhagen One agent in your preferred place (DNG) that I’ve had bad vibes from, interesting you had a diff experience. Viewed some of these and glad to hear you’ve found something, it’s been a very tough market.

 

[saendy]

@sbrodhagen This is amazing