Buying a property is one of the most significant purchases that many people will make in their lifetime. It involves a substantial amount of money and commitment and by and large it requires some monetary assistance from a lending institution. That’s not to omit the process of choosing a location to buy a property and many things can be at play in relation to that.
If a person is planning on buying a property for the purposes of investment, the location factors can be vastly different because a property investor will want to choose one based on its yield. They want to recoup the highest amount of their investment.
For an owner-occupier buyer, they have values like space, proximity to amenities, garden etc on their mind when choosing a property to purchase. The property market in Ireland is an interesting one. Back in 2008, the market fell through the floor and many people were left with properties in negative equity and struggled to keep up with payments as issues like unemployment caught up with them.
The market in 2018 has vastly recovered again in Ireland and property prices are by and large starting to reach the highs of the “boom” period. Once again people are scrambling to buy property as they feel like property prices might rise even further. Moving out of the main city areas will, of course, mean better value for money but that all depends on the individuals’ circumstances on whether that is possible or not.
The people at Easy Life Cover have put together this useful infographic which gives a wide variety of market information as you consider buying a property. It details some interesting data and statistics such as median house prices around the country; it also highlights some market trends; it explains the steps involved in the purchase of a property and it also examines renting versus buying a property. Check out all the details below as you continue your journey to your house purchase.