You both *can* identify value when choosing a home that means it also has investment value, and should as its a taxfree gain if its your principal residence. Mad to think otherwise. Its pure marketing guff this idea of thinking exclusively about a 'home'. Its your largest non-pension life investment, only a crazy person wouldn't put a huge amount of effort into trying to maximise the value.
I'd imagine as a rough guess that house price is 60% location, 30% hardware (size, garden, apartment vs house), 10% software (fixtures and fittings). My guess is that a lot of people have decent knowledge about the value of hardware, get deceived by the value of software, but make massive mistakes on location. We probably buy based on name recognition so overvalue 'the classics' - Blackrock, Howth, Dalkey, and current values, but ignore where future value is going to be. I wouldn't say its rocket science, but in a market with a lot of uniformed buyers (the "why are you treating your property as an investment" types) there must be very decent value to find out there.
I'd imagine as a rough guess that house price is 60% location, 30% hardware (size, garden, apartment vs house), 10% software (fixtures and fittings). My guess is that a lot of people have decent knowledge about the value of hardware, get deceived by the value of software, but make massive mistakes on location. We probably buy based on name recognition so overvalue 'the classics' - Blackrock, Howth, Dalkey, and current values, but ignore where future value is going to be. I wouldn't say its rocket science, but in a market with a lot of uniformed buyers (the "why are you treating your property as an investment" types) there must be very decent value to find out there.
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