Any recession on the horizon!
When we met with our architect + engineer and gave a budget of €350K to build a house in Galway in December 2024, we never could have predicted the rising cost so fast. Now that we are currently applying for planning, we will probably have to end up selling the site with planning or buying a house and leaving it in the background and hoping for a recession. With the way things currently are we would be looking at between €420K and €480K to build what we had originally designed back then and we have already spent over a deposit (€35K) on site transfer fees, architects, surveys, FI requests etc.) Feeling very deflated. Any house we see at the minute within our price range €350K is around 98m2! What a joke. It is very frustrating. Very little help for the people who want to work hard and try do things on their own.
NOT praying for a recession but something has to happen to stop the inflation