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Buying house in Tralee

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  • 31-10-2006 3:34pm
    #1
    noellyk
    Closed Accounts Posts: 31 ✭


    Thinking of buying a semi d in tralee for 205k but worried that it wont make much money over a five year period as tralee has alot of developments been constructed at the minute (supply and demand) some advice please


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    noellyk wrote:
    Thinking of buying a semi d in tralee for 205k but worried that it wont make much money over a five year period as tralee has alot of developments been constructed at the minute (supply and demand) some advice please

    Insufficient information......
    What precisely do you mean?
    Is this a property that you intend to rent out?
    Are you expecting an increase in asset value?
    Do you expect to live there yourself?

    There are too many unknowns. If you're renting it out- is there a ready market for rental property in the area, and not just a seasonal one?

    As for increase in asset value- well, I've no qualification in reading tea leaves, and if I was any good at it, I certainly would not be working where I am at the moment. Your guess is as good as mine. It could rise a nice steady 7-8% per annum for the next few years- or alternatively, with mortgage interest rates rising- it could loose 3-4% until it was considered afordable considering people's reduced borrowing capacity. Who knows?
    If you expect to live there yourself, of course these things do not enter the equation.

    You really need to research your local market and get a feel for things on the ground- or if looking for advice on a forum such as this- have sufficient information that people can get a feel for the situation.

    S.


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    #3
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Just keep it on the Manor side of town, near the shopping area and the IT. Reckon the Dingle side could become a ghost town. Don't think Tralee is going to boom, but seems to be ticking over handily enough. There is enough money being fired into apartments there anyway, some huge developments around the train station.


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