Looking to buy your first home? Answer these questions to see how your priorities compare

BUYING YOUR FIRST home is an exciting time – but it is also a time when big decisions come thick and fast.

This autumn, we’re setting out to understand what first-time buyers in Ireland want, and what they need.

We want to know what you’re confident about, what you’re not so sure of, and what stresses you out. And we want to help along the journey, by providing the most relevant answers and the most informed advice.

Over the full series we’ll be tackling five key topics for homes on the market: price and quality; location and community; what’s inside; sustainability; and moving in. These align with the topics of a recent survey of first-time buyers on Daft.ie, which we’ll also be reviewing.

First up, we’re looking at price and quality. How much is the right home worth? What makes a home good value?

Answer the questions below to build a picture of your priorities – and see how you compare to other first-time buyers. Each time you give a rating, you’ll see how your number matches the overall reader average.

Let’s start at the beginning: making those difficult choices about your budget.

For most buyers, the first part of the journey is deciding on a budget - which can be a tricky process in itself. Whereabouts are you on your budget decision, where 1 is ‘just starting to consider’ and 10 is ‘decision made’?

The biggest budget category for first-time buyers, according to the Daft.ie survey, is between 200k and 250k. How confident are you that your budget will buy a home that fits your needs, where 1 is not at all confident and 10 is completely confident?

Almost 70 per cent of first-time buyers told us that they’d go beyond their budget for the right home. How flexible is your budget, where 1 is ‘my budget is fixed’ and 10 is ‘there’s flexibility for the right property’?

Once you’re clear on your budget, the next step is to start looking at what’s out there. This is when your own priorities really come into play.

Is being close to family number one for you, or are you looking for somewhere you can put your own stamp on? Are you looking for a new build, or a fixer upper? Are you seeking style, or just a solid foundation? What adds value to a home for you?

More than half of first-time buyers told us that location was their top priority in searching for a home. However, the shape of our daily lives has changed significantly in recent months. Have this year’s events affected your choice of location to buy in? (Rate 1 for not at all, 10 for significantly affected)

Do you feel that there are enough homes available in your chosen location? Rate 1 for not at all, 10 for plenty of homes.

One in five (21%) of first time buyers told us they'd choose a new home over a second hand one, while 43% had no preference. How important to you is the age of your future house, on a scale of one to ten?

How important is the design and appearance of a home to you, on a scale from 1 to 10?

How important is build quality to you, on a scale from 1 to 10?

How important is it to you to have local amenities close to your home - such as parks, shops and sports clubs - on a scale from 1 to 10?

When you’ve set out what you value in a potential home, it’s time to try and make your priorities match your budget. This is where market conditions – as well as other factors, such as State supports for first-time buyers and the rent you may currently be paying – really come into play.

Some 23 percent of first-time buyers told us price was their top priority in looking for a home. What’s your experience of the market at the moment? Do you feel that there are homes available in your price range? (Rate 1 for no homes at all, 10 for plenty of homes on the market)

The Help to Buy Scheme, under which buyers of eligible new homes can claim back up to 10 per cent of the purchase price, was recently extended into 2021. How likely are you to take advantage of Help To Buy, where 1 is ‘very unlikely’ and 10 is ‘very likely’?

Some 78% of first time buyers surveyed were looking to purchase their home within the next year. If you're considering buying a home, how important is it to you that it happens soon? (1 being 'not important' and 10 being 'very important')?

So how did you compare to other first-time buyers? Are you right on the average, or out on your own?

Stay tuned for more articles in this series, as we’ll be bringing you expert advice and insights for each topic too.

At Glenveagh Homes, our vision is that everyone should have the opportunity to access great-value, high-quality homes in flourishing communities across Ireland. We understand that buying a home is possibly the biggest decision you will ever make in your life – but we want to make it your easiest. Click here to find out more about Glenveagh developments.

Looking to buy your first home? Answer these questions to see how your priorities compare

BUDGET DECISIONS

FEELING CONFIDENT

ROOM TO MANOEUVRE

CHANGING PLACES

ON THE MARKET

OLD MEETS NEW

STYLE STAKES

ROCK SOLID

LOCAL CHARM

MARKET MOVEMENTS

HELPING HAND

IT'S A DATE

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