Homebuying is challenging, our aim at doddl is to support you in every way we can to be successful in your home search and bidding in Ireland. We are with you from enquiry to keys…..
Bidding Tips from our inhouse Property Advisor, Simon Bull, Chartered Surveyor
- Easy to say but don’t jump head first into bidding, view the property, view it twice, understand how long the property has been on the market, what the position of the vendor (seller) is, ask the agent questions, show your interest.
- An agent wants to sell a property for the best price but also to a bidder who can complete out on the purchase. It is important that you discuss all the positives – mortgage approved, chain free, know the area well, ready to move when suits the vendor etc.
- If a property needs work, be realistic as to what that work will cost – bring a builder if you can pre bidding or going sale agreed. The agent will be keen to know that you understand the costs involved to avoid the sale falling through down the line post survey or consideration of costs.
- If the property needs works say your bid reflects the costs involved to remedy any items that need repair or work – the agent will again want to know you are realistic.
- New homes – there is no bidding except perhaps for the show home but be sure you understand what is included tiling, flooring, what’s the base level finish.
- Be prepared, ensure you have your mortgage approval in place with doddl and have your letter from doddl to confirm you are mortgage approved level (as opposed to showing the agent your approval in principle or redact amount from the approval letter).
- If you are unsuccessful in bidding, track what the bidding process was like, what the property ultimately was sold for, how bidding increased, timings etc, all of which could help you when it comes to the next property of interest.
How do I find New Build Homes?
The main home builders in Ireland are Glenveagh and Cairn and they would both put up new developments launching on their websites.
https://glenveagh.ie/developments
https://www.cairnhomes.com/new-homes/
Also MyHome have a New Homes section and you can set up notifications for properties in your county, property type and price range.
For new builds I would say in general if you have an area you are interested in then if you drive around you will see hoarding up for new developments even before the selling agent is advertised. You can then look up the grant of planning permission on the council website to see the number of units, number of affordable homes etc to get a broad sense as to the development. Once there is a selling agent board put up (generally pre launch) my advice would be to call the agent, get a map of the development and the units, understand what would be your preference 1st, 2nd, 3rd etc based on house type, location in development etc. Then its to really stay on top of when they are launching etc. Demand for new homes is really strong given supports available so it is extremely competitive.
Keep in touch with all new homes selling agents, Sherry Fitzgerald New Homes, DNG, Lisney etc.
Remember the schemes available to first time buyers purchasing new build homes –
These apply to new build homes only.
- Help to buy scheme – 10% of the purchase price of a new home capped at €30,000
- First Home Scheme – equity stake of up to 30% taken in your home and contribution by the scheme of equivalent percentage towards purchase
Also if you are purchasing a new build property or a home with BER of B3 or above Green rates re the lowest rates on the market and you will be eligible for same starting from 3%.
What about second hand homes?
Broaden your search beyond new builds – new builds tend to be very popular with first time buyers as the two Government supports are focused on the new homes market. However more second hand homes are mortgaged every year than new homes.
Much of the stock of second hand homes that come to market requires renovation and this can be off putting for first time buyers who in some cases struggle to accumulate the min 10% deposit required to purchase. It is important to be aware that you can finance refurb works as part of your mortgage approval provided you are eligible for the level required to complete the works and provided the completed works add requisite value to your home.
At doddl our team are there to support you in any way we can through your home buying journey. Need advice, just ask – Start here!
