First-time buyers in Galway are being urged to be fully prepared, financially disciplined and flexible as competition for homes remains intense, while sellers are warned that pricing and preparation are key to securing a successful sale.
Estate agents across the county say the current market demands careful planning from both sides, with common pitfalls still delaying or derailing transactions.
Niamh Madden of Sherry FitzGerald Madden said preparation is essential for buyers as well as knowing their budget constraints ahead of time. “I would advise all purchasers to consult with their lending institution prior to starting to look at properties and to have their mortgage approval in principle in place before beginning their property search,” she said, adding that buyers should “be flexible with location and property type, this can increase the chances of finding a suitable home within their budget.”
Ryan Hanly of HPS Real Estate also stressed the importance of discipline. “Preparation and discipline are critical,” he said, noting that buyers “should ensure they have mortgage approval in principle before they begin viewing properties and should have a clear understanding of their overall budget, including legal fees, stamp duty and potential refurbishment costs.”
He added that first-time buyers “should also be careful not to allow the selling agent or market pressure to dictate what is right for them,” and warned that “it is also extremely important not to stretch financially beyond a sustainable level.”
Similar advice was echoed by Ian Hutchinson, senior sales agent at M&C Property, who said buyers should “make sure you are mortgage approved and your financials are all in place before you start viewing properties,” and to “look to the medium long term when buying. For example, will this property suit my needs in five years if we intend having children."
Olivia Lynch of Lynch Auctioneers said buyers need to be ready to act quickly in a competitive market. “Be fully prepared before entering the market; have your mortgage approval in place, know your budget, and be ready to act quickly,” she said. “It’s also important to remain realistic and flexible given the level of competition.” She added: “my key advice always, is be sure about the location, because everything else can be changed or upgraded but you cannot change location.”
Ciara Lally of Rooney Auctioneers suggested buyers consider alternatives to highly competitive homes. “I would recommend first-time buyers to consider second-hand homes that require some restoration or renovation works,” she said, noting that “these homes do not inspire the same level of competitive bidding as those in ‘move-in’ condition,” and that “an investment of time and some vision can create a fabulous home without the premium price of your showhouse style alternative.”
Shelagh McGann of Keane Mahony Smith said many buyers are focusing too much on presentation. “Consider the two to three year plan to improve the home purchased in a preferred location or next area over,” she said. “I meet most first time buyers who take too much interest in interior presentation (which can be improved over time ) or are too rigid in their requirements.” She added: “I certainly do feel for the first time buyers currently – and it is difficult to advise them. It is especially difficult for single purchasers.”
Hugh and Colm O’Donnellan of O'Donnellan & Joyce Auctioneers also emphasised preparation and research. “Advice I recommend to first-time buyers is firstly arrange their mortgage approval in principle. Secondly, study the areas they want to purchase and set a limit on what they are willing to spend,” they said, adding that “buyers are incredibly astute and tend to have excellent property knowledge of the areas they want to purchase.”
Across the board, agents pointed to a number of common mistakes made by buyers. Madden said “one of the most common mistakes that buyers make is failing to plan their finances properly,” with people forgetting “about the additional costs such as legal fees, stamp duty and surveys.” Hanly added that “the most common mistake is allowing emotion to drive the decision-making process before proper due diligence has been carried out,” while Hutchinson warned against “rushing into buying when the area or property type doesn’t suit them.”
Lynch said hesitation can also be an issue, noting that “for buyers, hesitation can lead to missed opportunities. If you love a property, don’t be afraid to really go for it.”
Advice for sellers
For sellers, pricing and preparation are recurring themes. Madden said “a common mistake is over pricing their property,” warning that “setting an unrealistic asking price can discourage potential purchasers.” Hanly agreed, saying “unrealistic pricing and poor preparation are the most common issues,” and that properties “brought to market without the necessary documentation and presentation can lose valuable momentum early in the sales process.”
Shelagh McGann also cautioned sellers against overvaluing their homes. “Over valuing your home and comparing it to recent sales in the area is a negating factor in getting your home sold for the best price,” she said, adding that “not presenting your home for the current market is also a huge adverse factor in achieving the best sale price.”
Martin O’Connor of DNG Martin O’Connor highlighted the importance of early preparation on the legal and technical side. “Preparation is the key to success in all situations,” he said, advising clients to “check with their engineers in terms of compliance with their properties prior to going to the market.” He warned that “once you reached the sale agreed point unforeseen issues such as boundaries, rights of ways, septic tanks location on site and planning compliance issues arise,” adding that “a lot of this could be prevented quite easily in the early stages of the sale.”
Ciara Lally also pointed to preparation issues for sellers, saying this can include “not requisitioning title deeds from your lender or not having their agent or solicitor ensure full compliance with planning or building regulations,” while noting that “a small issue such as an incorrectly delineated boundary could be detrimental to the sale of your property if not discovered at the beginning of your process.”
Both buyers and sellers are also advised to engage professional support early. O’Donnellan & Joyce said “the most common mistake they experience is sellers "engaging with their solicitor too late in the process,” adding that for buyers “it’s highly advisable to have a solicitor already appointed once mortgage approval in principle is achieved.”
Overall, agents agree that while Galway’s property market remains highly competitive, careful planning, realistic expectations and early preparation can make all the difference in securing a successful outcome.
