Where do you start when buying a house?
Summary
Kieran Mulqueen, author of "Crazy House Prices," joins Andrea Gilligan to discuss the current Irish property market, noting that asking prices have risen despite a slight increase in housing stock. He advises first-time buyers to check their Central Credit Register, aim for a 12-13% deposit, and use free mortgage brokers to navigate the complex lending landscape. The conversation covers the impact of online bidding portals, the benefits of buying off-market through direct letters to sellers, and essential due diligence steps like viewing checklists and neighborhood research.
Topics discussed
Intro and Daft report on housing stock and prices
First steps: Credit report and using a broker
Building your team and calculating the deposit
Financial preparation timeline and debt advice
Researching properties and market data
Bidding wars and mortgage approval in principle
Online bidding portals and the supply shortage
Selling off-market and private sales
Writing letters to sellers and human connection
Strategies for increasing bids in auctions
Why first-time buyers should use a broker
Bank checks on gambling and spending habits
Viewing checklists and neighborhood research
Closing remarks
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