WHAT I WISH I HAD KNOWN BEFORE BUYING A HOME!

Three homeowners from across Ireland share their experiences

“At the age of 25, and just before the Celtic Tiger ended, I got a job transfer from Dublin to Kilkenny and jumped into buying a house with my fiancé. I was living in the present and wasn’t thinking of what my future would be. Looking back – having since been through buying and renovating a second home in the country and bringing four children into the world – I wish I had taken more time to think. Would a three-bed semi-detached house be sufficient in 10 years’ time? Did I want to live in a housing estate? Where will I get the money to have nice furnishings? Will I still be able to afford holidays? Would a second mortgage be as easy to get as the first? There were so many hidden costs associated with buying a house, as well as selling a home and buying again. At the time, this information was not as readily available as it is now. I really can’t stress the importance of building a good relationship with your mortgage advisor!” Frances Hogan, Co Kilkenny “My husband, Mike, and I took out a mortgage for a house in Co Limerick during the year of 1995. It was exciting as we embarked on our journey to buy our first house, but it was easy to overlook the enormity of the associated contractual obligations. Do speak with a mortgage advisor and make sure you understand everything before making big decisions.” Margaret Freeney, Co Limerick “When we were buying our first house, I wish we had considered the future a bit more, but we had two salaries, no kids and the ability to save. In hindsight, we should have stretched ourselves more to get that bigger house, with a better garden, in a nice location. But we didn’t. It is 10 years on, and we are now in our forties, with four kids. I am a stay-at-home mam, we have only one salary and it’s very difficult to save, but that bigger house is still a dream!” Cathriona Everard, Co Kilkenny